- 15,000 Verizon employees could be at risk from latest job cuts
- Verizon has a (relatively) new CEO at the helm, helping to keep costs down
- “Aggressive” transformations in culture, costs and finances have been promised
Verizon is expected to soon cut about 15,000 jobs, the equivalent of about 15% of its total workforce, reports the The Wall Street Journal demanded.
The cuts would primarily target non-union executives and would also include converting up to 200 retail stores to franchise stores.
THE WSJ one report claims layoffs could begin as early as next week, but the company has yet to officially confirm whether that is the case.
Verizon could lay off 15% of its employees
Dan Schulman was named the company’s new CEO in October 2025, with a background that includes a nine-year tenure as CEO of PayPal between 2014 and 2023 and positions at AT&T, Virgin Mobile USA and Sprint Nextel (before its acquisition by T-Mobile).
Schulman has spearheaded new cost-cutting measures at the company, following similar moves by other tech giants.
In addition to facing stiff competition from competing network providers and cable companies, Verizon has also faced slowing subscriber growth. In the third quarter of 2025, it added only 44,000 postpaid subscribers (much fewer than its competitors), and also lost 7,000 postpaid connections.
Verizon’s stock price is only two-thirds of what it was five years ago, but it rose somewhat after the report was released.
Speaking about the company’s most recent results, Schulman said, “We will take bold, fiscally responsible steps to redefine Verizon’s trajectory at this critical inflection point for our business.” »
“We will aggressively transform our culture, cost structure and Verizon’s financial profile to put our customers first, compete effectively and deliver sustainable returns to our shareholders.”
This wouldn’t be the first time Verizon has laid off thousands of workers. Around 20,000 employees left over a three-year period by 2020, 4,800 in 2024 and 10,400 in 2018 (per PK Press Club).
TechRadar Pro asked Verizon to confirm whether it plans to lay off more workers – we did not receive an immediate response.
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