Verizon Communications has announced plans to eliminate approximately 15,000 jobs, representing nearly 15% of its U.S. workforce, as part of a sweeping restructuring initiative led by newly appointed CEO Dan Schulman. The move is aimed at streamlining operations, reducing costs, and repositioning the company amid growing competitive pressures in the telecom sector.
The job cuts will primarily affect non-union management roles and employees at around 180 corporate-owned retail stores, which are set to be converted into franchised outlets. This transition will remove those employees from Verizon’s direct payroll, further contributing to the company’s cost-saving strategy.
Dan Schulman, who took over as CEO in October 2025 after serving on Verizon’s board and previously leading PayPal, described the company as being at a “critical juncture.” He emphasized the need to rebuild market share and improve financial performance through decisive structural changes.
Verizon has faced declining post-paid phone subscriber numbers in recent quarters, while competitors like AT&T and T-Mobile have gained ground through aggressive pricing and promotional offers. The restructuring is expected to help Verizon refocus on subscriber retention, including potential handset subsidies to reduce churn.
The company currently employs around 100,000 people in the U.S. Affected employees will be offered severance packages and transition support. Verizon has not yet disclosed the full timeline for the layoffs but indicated that changes will begin rolling out in the coming weeks.
Industry analysts view the move as a bold but necessary step to restore Verizon’s competitive edge and financial stability. The company is expected to provide further details during its upcoming earnings call.
