Verizon announces more than 13,000 layoffs as the company undergoes major restructuring

A significant restructuring has begun at telecommunications giant Verizon, with the company confirming that over 13,000 positions are being eliminated. According to an internal memo from CEO Dan Schulman, the current cost structure across the organization has limited investment in customer-focused initiatives, making a major reorganization necessary.

The reductions affect about 20 percent of Verizon’s non-unionized management workforce. Schulman emphasized that operations must be simplified to improve efficiency and remove internal bottlenecks that have negatively impacted customer satisfaction.

The company continues to face strong competition from other major players in the wireless and home-internet markets, including AT&T and T-Mobile. Despite posting US$4.95 billion in earnings for the third quarter of 2025, Verizon reported a net loss of 7,000 postpaid subscribers during the same period.

This round of layoffs is part of what Schulman described as a “critical transformation,” marking his first major move since becoming CEO last month. The Wall Street Journal previously reported that this would be the largest workforce reduction in Verizon’s history.

In addition to job cuts, expenses associated with outsourced services will also be significantly reduced.
Verizon has created a $20-million Reskilling and Career Transition Fund to support departing employees.

These layoffs are part of a broader trend across major U.S. companies, with firms such as Amazon, UPS, and Nestlé also announcing workforce reductions due to rising operational costs, economic uncertainty, and increased investment in artificial intelligence.
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