Verizon Cuts 13K Jobs, Restructures Operations
Update: 2025-11-20
Description
Verizon, the leading wireless carrier, is undergoing a significant restructuring, cutting over thirteen thousand jobs and converting hundreds of corporate-owned stores into franchises. The companys new CEO, Dan Schulman, aims to reduce costs and realign priorities, stating that the current structure hinders investment in customer value. Despite these cuts, Verizon is establishing a twenty-million-dollar fund to support laid-off employees in finding new opportunities, emphasizing that AI is not the cause of these job losses. The company faces intense market pressure due to a dwindling customer base and increased competition from rivals and cable operators.
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