Posted on 11/13/25
| News Source: WSJ
New York, NY - Nov. 13, 2025 - Verizon Communications VZ 1.42%increase; green up pointing triangle is planning to cut roughly 15,000 jobs, looking to reduce costs as it contends with increased competition for wireless service and home internet, according to people familiar with the matter.
The cuts, the largest ever for the carrier, are set to take place in the next week, the people said. The majority of the reduction is expected to be made through layoffs.
Verizon also plans to transition about 200 stores into franchised operations, which will shift employees off its payroll.
Verizon, the largest U.S. telecommunications provider by subscriber base, faces a fierce battle for both wireless and home internet customers. It has lost crucial postpaid phone subscribers for three consecutive quarters.
Last month, Verizon named its lead independent director Daniel Schulman as its new chief executive officer. Schulman, a former CEO of PayPal and Virgin Mobile USA, has said he would aggressively reduce the company’s entire cost base and take steps to reverse the customer losses.
“We have a tremendous amount of opportunity to be more efficient, to be scrappier,” Schulman said last month in a call discussing the company’s third-quarter results. “Cost reductions will be a way of life for us here.”
Verizon had about 100,000 employees as of February, according to securities filings.