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Story summary
- Verizon announced on November 20, 2025, it will lay off over 13,000 employees, about 20% of its workforce, to cut costs and simplify operations.
- Verizon Chief Executive Officer Dan Schulman, who became CEO last month, emphasized improving customer satisfaction and reducing operational complexity.
- AT&T and T-Mobile gained postpaid subscribers, while Verizon lost 7,000 connections.
- Schulman established a $20 million fund to help laid-off workers transition to new roles.
