Verizon Announces Major Workforce Reduction
New York – November 13, 2025 – Verizon Communications is preparing to cut approximately 15,000 jobs, marking the largest layoffs in the company’s history. The job reductions, representing 15 percent of Verizon’s US workforce, are part of a major restructuring under new CEO Dan Schulman, who took the helm in early October.
Sources familiar with the matter told Reuters that the layoffs could begin as soon as next week, primarily affecting the non-union management ranks, with more than 20 percent of this segment expected to be impacted. Additionally, around 180 corporate-owned retail stores will transition to franchise operations.
A Verizon spokesperson declined to comment.
Strategic Shift Under CEO Dan Schulman
Schulman, formerly CEO of PayPal and a long-time Verizon board member, has emphasized cost transformation and operational efficiency as key priorities.
“We will be a simpler, leaner and scrappier business,” Schulman said last month, stressing the need for a strategic approach beyond price increases.
Verizon is confronting slowing subscriber growth and rising pressure from competitors AT&T and T-Mobile, particularly as consumers increasingly resist high-priced wireless plans. The company maintains some of the highest price points in the US telecom sector, a strategy analysts say is challenging to sustain.
Craig Moffett, senior analyst at MoffettNathanson, noted that Verizon’s new strategy aims to stem subscriber churn, including subsidizing handsets to retain customers, but questioned whether the planned cost reductions would offset these expenses.
Verizon’s Workforce History and Acquisitions
Verizon had approximately 100,000 US employees at the end of 2024, after cutting nearly 20,000 over three years. Previous reductions included:
- 4,800 voluntary exits in 2024, resulting in a nearly $2 billion charge.
- 10,400 voluntary exits in 2018.
The company has also made major spectrum and acquisition investments, including:
- $52 billion for C-band wireless spectrum in 2021.
- $20 billion to acquire Frontier Communications.
- $6 billion for prepaid provider TracFone Wireless.
Market Reaction
The announcement of potential layoffs has boosted Verizon stock by 1.3 percent in midday trading, reflecting investor optimism about the company’s efforts to streamline operations.
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