Verizon<\/a> said Thursday it will cut more than 13,000 jobs in its largest single layoff as it works to shrink costs and restructure operations.<\/p>\nVerizon also said it plans to convert 179 corporate-owned retail stores into franchised operations and close one store.<\/p>\n
Verizon’s new CEO, Dan Schulman, said in a note to employees the company would reduce its workforce by more than 13,000 employees across the organization, and significantly reduce outsourced and other outside labor expenses.<\/p>\n
“Our current cost structure limits our ability to invest significantly in our customer value proposition,” Schulman wrote in a note to employees seen by Reuters. “We must simplify our operations to address the complexity and friction that slow us down and frustrate our customers.”<\/p>\n
A company spokesperson confirmed the job cuts, saying “this is an opportunity for Verizon to reset, restructure and realign our priorities on ways that will help us regain our leadership as a communications provider.” Reuters and other outlets reported last week Verizon was planning to cut around 15,000 jobs. Most of the cuts are to its U.S. workforce.<\/p>\n
Schulman said Verizon was establishing a $20 million career transition fund for laid-off employees to focus on the “opportunities and necessary skill sets as we enter the age of AI.”<\/p>\n
Verizon said the job cuts were not the result of the company’s use of AI.<\/p>\n
The wireless carrier faces mounting market pressure amid concerns over a shrinking pool of new customers as older rivals offer cheaper plans and cable operators jump into the fray. Schulman, a Verizon board member since 2018, was named CEO in October, arriving from the helm at PayPal and facing promotions by rivals AT&T and T-Mobile around the launch of new iPhone models, with aggressive discounts and trade-in deals.<\/p>\n
Verizon added just 44,000 monthly bill-paying wireless subscribers in the third quarter, lagging AT&T. T-Mobile led with more than 1 million net subscriber additions.<\/p>\n
Verizon had about 100,000 U.S. employees at the end of 2024, including about 70,000 non-union employees. The telecommunications company cut almost 20,000 jobs over the prior three years.<\/p>\n
Verizon spent $52 billion to acquire key wireless midband spectrum in a 2021 auction to boost its 5G network. The company also struck a $20 billion deal to acquire Frontier Communications last year and spent $6 billion to acquire prepaid mobile phone provider TracFone Wireless.<\/p>\n","protected":false},"excerpt":{"rendered":"A pedestrian walks by a Verizon store on Nov. 13, 2025 in San Francisco, California. Justin Sullivan |…\n","protected":false},"author":3,"featured_media":392374,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[11732,64,81,2578,158,14026,67,132,68,29055],"class_list":{"0":"post-392373","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business","8":"tag-breaking-news-technology","9":"tag-business","10":"tag-business-news","11":"tag-personnel","12":"tag-technology","13":"tag-telecommunications","14":"tag-united-states","15":"tag-unitedstates","16":"tag-us","17":"tag-verizon-communications-inc"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@us\/115582469736679110","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/392373","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/comments?post=392373"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/392373\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media\/392374"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media?parent=392373"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/categories?post=392373"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/tags?post=392373"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}