Verizon has announced plans to lay off more than 13,000 employees as part of a major restructuring effort. The decision was communicated to staff in a memo from CEO Dan Schulman, who said the company needs to “reorient our entire company around delivering for and delighting our customers.” Schulman explained that Verizon’s current cost structure limits its ability to invest, especially in improving customer experiences.
The layoffs began on Thursday and will affect about 20% of Verizon’s management workforce, which is not unionized. As of the end of last year, Verizon had nearly 100,000 full-time employees. A spokesperson confirmed the scale of the cuts and noted they are focused on management roles.
Schulman became CEO just last month and has emphasized the need for significant changes at Verizon. In his recent comments on earnings, he described Verizon as being at a “critical inflection point” and called for an aggressive transformation rather than incremental adjustments.
For the third quarter of 2025, Verizon reported $4.95 billion in earnings and $33.82 billion in revenue. While there was growth in prepaid wireless subscribers, the company lost a net 7,000 postpaid connections during this period.
Verizon faces increasing competition from other large telecommunications companies such as AT&T and T-Mobile. This competitive pressure has prompted new leadership to reassess business strategy and operations.
In addition to job cuts within its own workforce, Schulman said that Verizon will also “significantly reduce” outsourced labor expenses.
The layoffs at Verizon come amid broader trends in corporate restructuring across several industries. Other major companies including Amazon, UPS, and Nestlé have also announced large-scale job reductions recently due to factors like rising operational costs from tariffs or shifts in consumer spending patterns.
Schulman acknowledged the impact of technological change and economic shifts on workers across all sectors: “Changes in technology and in the economy are impacting the workforce across all industries.” He added that Verizon has set up a $20 million “Reskilling and Career Transition Fund” for departing employees.
