Verizon Layoffs Reshape Cost Plan
Verizon layoffs trigger a restructuring to cut costs and franchise company stores, prompting traders to watch timing and expected savings.
KEY TAKEAWAYS
- Verizon planned to cut about 15,000 jobs, roughly 15% of its workforce.
- The company will convert 200 company-owned stores into franchised locations.
- New CEO Dan Schulman's cost-focused restructuring aims to cut spending amid slowing growth and fierce competition.
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Verizon Communications Inc. (VZ) announced on Nov. 13, 2025, plans to cut about 15,000 jobs as part of a restructuring aimed at reducing costs and franchising stores amid slowing growth and rising competition from AT&T and T-Mobile.
Scale and Timing of Cuts
The company intends to eliminate roughly 15% of its workforce, marking the largest layoffs in Verizon’s history. It will also convert 200 company-owned retail stores into franchised locations. These changes are expected to take effect within a week of the announcement.
Restructuring Rationale and Context
The restructuring, led by new CEO Dan Schulman, focuses on cutting costs and improving operational efficiency. Verizon faces slowing growth in its wireless and home-internet segments alongside intensified competition from AT&T and T-Mobile.
