Verizon cutting 13,000 jobs to ‘reorient’ company
Verizon is laying off more than 13,000 employees in mass layoffs that come after the US telecommunications giant said it needed to “reorient” its entire company.
The layoffs began Thursday, according to a staff memo from Verizon CEO Dan Schulman.
In the letter seen by The Associated Press, Schulman said Verizon’s current cost structure “limits” the company’s ability to invest, specifically pointing to customer experiences.
“We must reorient our entire company around serving and delighting our customers,” Schulman wrote.
He added that the company needed to simplify its operations “to remove the complexity and friction that slows us down and frustrates our customers.”
Verizon had about 100,000 full-time employees as of the end of last year, according to securities filings.
The layoffs announced Thursday account for about 20 percent of the company’s non-union management staff, a spokeswoman confirmed.
Verizon has faced increasing competition in both wireless phone and home internet, particularly from AT&T, T-Mobile and other major market players.
The new leadership at the company emphasized that the company needed to move in the right direction.
Schulman took over as CEO just last month.
He noted in the company’s most recent earnings call that Verizon’s trajectory is at a “critical inflection point” and said Verizon will “aggressively transform” its operations rather than incremental changes.
Verizon reported third-quarter 2025 earnings of US$4.95 billion ($7.62 billion) and revenue of US$33.82 billion.
The operator reported increased subscriber numbers for its prepaid wireless services but lost a net 7,000 postpaid connections.
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