Verizon to Slash 15,000 Jobs in Major Restructure

Verizon Communications is set to cut approximately 15,000 jobs, representing about 15% of its workforce, in what will be the telecom giant’s largest‐ever layoff. 

According to sources, the cuts are part of a sweeping restructuring under new CEO Dan Schulman, who joined the company in October 2025. His focus: streamlining operations, lowering costs, and shifting the company’s culture to be “simpler, leaner and scrappier.”

The layoffs are expected to target mostly non-union management roles—reductions in this group could exceed 20%. Meanwhile, Verizon is also planning to convert around 180 to 200 corporate-owned retail stores into franchise operations, further reducing overhead. 

These bold moves come as Verizon faces serious headwinds: three consecutive quarters of subscriber losses, intense competition from rivals such as T‑Mobile US and AT&T Inc., and a mature U.S. wireless market offering limited growth. 

While cost cutting may help improve margins, analysts warn that without meaningful subscriber growth and improved efficiency, the company’s turnaround will remain challenging.