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Verizon to Lay Off 15,000 Amid Restructuring Efforts

11/15/2025

28 3 Full Breakdown

Summary

Story summary

Verizon Communications plans to cut about 15,000 jobs as part of a restructuring under new CEO Dan Schulman, who took over in October.
The cuts would affect about 15% of Verizon's workforce after three quarters of subscriber losses amid competition from AT&T and T-Mobile.
Verizon plans to convert around 200 company-owned stores into franchises.
The moves aim to streamline operations and boost profitability, with layoffs set to begin next week.

History

Historical Context

The 2000 merger of Bell Atlantic and GTE formed Verizon, which quickly became the largest wireless carrier in the U.S. By 2021, Verizon had over 100 million subscribers. Facing competition from AT&T and T-Mobile, Verizon's recent decision to cut 15,000 jobs reflects ongoing industry pressures and the need for strategic realignment to meet evolving consumer demands.

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Story summary

Verizon Communications plans to cut about 15,000 jobs as part of a restructuring under new CEO Dan Schulman, who took over in October.
The cuts would affect about 15% of Verizon's workforce after three quarters of subscriber losses amid competition from AT&T and T-Mobile.
Verizon plans to convert around 200 company-owned stores into franchises.
The moves aim to streamline operations and boost profitability, with layoffs set to begin next week.

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