Verizon layoffs: Verizon, the leading American telecommunications company, is set to reduce thousands of roles as part of a restructuring under its new CEO Dan Schulman, reported Reuters.
The company is planning to cut about 15,000 jobs, 15% of its workforce, said the report, citing person familiar with the matter.
However, a Verizon spokesperson declined to comment on the matter.
The new CEO's first commitment was to stop the bleeding from subscriber churn, which would require subsidizing expensive handsets for a huge number of Verizon's subscribers to keep them from leaving, Craig Moffett, senior analyst at Moffett Nathanson, told Reuters.
When will layoffs start?
The layoffs are set to take place as soon as next week.
Who will get affected?
The job cuts are aimed at Verizon's its non-union management ranks and are expected to affect more than 20% of that workforce, a source told Reuters.
He added that Verizon also plans to transition around 180 corporate-owned retail stores into franchised operations.
Slowdown in growth
As subscriber growth slows and cautious consumers are unwilling to buy premium wireless plans, Verizon is battling rising competition. The coompany is also facing mounting pressure from rivals AT&T and T-Mobile US.
How many employees does Verizon have?
At the end of 2024, Verizon had about 1,00,000 US employees.
Last year it announced a reduction of 4,800 employees through a voluntary program and took a nearly $2 billion charge.
Verizon acquisitions
— Verizon spent $52 billion to acquire key wireless C-Band spectrum in a 2021 auction.
— The telecommunication company struck a $20 billion deal to acquire Frontier Communications last year.
— Verizon also spent $6 billion to acquire prepaid mobile phone provider TracFone Wireless.
Recent tech layoffs
Amazon, TCS, Microsoft, IBM and several other companies have announced layoffs.
Earlier this month, tech giant IBM said that it would cut thousands of roles amid focus on software growth.
“In the fourth quarter we are executing an action that will impact a low single-digit percentage of our global workforce,” said the company's spokesperson.
According to Layoffs.fyi - a platform that tracks global tech industry layoffs — over 110,502 tech workers have been laid off across 226 tech companies in 2025 alone.
Amazon has announced that it will reduce its global corporate workforce by about 14,000 people.
The total workforce of Tata Consultancy Services, India's largest IT services firm, reduced to 593,314 after the count dropped by 19,755, as of the second quarter of the financial year 2025-26.