by New York, N.Y. – VERIZON COMMUNICATIONS INC. has announced plans to reduce its workforce by approximately 15,000 employees, beginning next week, marking the largest job cut in the company’s history, according to the Wall Street Journal, which cited sources familiar with the matter. The move comes as the telecommunications firm faces intense competition in the wireless and home internet markets and seeks to streamline operations under new leadership.
Why the Cuts Are Happening
Verizon has reported declining postpaid phone subscribers for three consecutive quarters, prompting the company to focus on reducing costs and reversing customer losses. Under the guidance of new CEO Dan Schulman, formerly of PayPal, Verizon is pursuing a strategy aimed at creating a “simpler, leaner, and scrappier business.”
Schulman recently stated,
“Our financial growth has relied too heavily on price increases. A strategic approach that relies too much on price without subscriber growth is not a sustainable strategy.”
The company reported a net loss of 7,000 postpaid phone subscribers in the third quarter of 2025, compared with gains of 18,000 in the same quarter of 2024. While Verizon added around 44,000 new prepaid wireless customers, competitors like AT&T and T-Mobile added 400,000 postpaid lines and one million new lines, respectively, highlighting Verizon’s struggles to maintain market share.
How the Job Cuts Will Be Implemented
Verizon’s workforce numbered approximately 100,000 employees as of February 2025. The planned 15,000-job reduction will target primarily non-union management positions and will involve restructuring operations, including:
- Shifting around 200 stores to franchised operations, which removes employees from Verizon’s payroll
- Reorganizing expense structures to create a leaner operation
Although the plan will significantly reduce the number of positions on Verizon’s payroll, the exact number of permanent job losses remains unclear, as some roles will simply be transferred rather than eliminated.
Economic Context
The Verizon cuts come amid broader concerns about the U.S. labor market and economy, with private employers reportedly shedding an average of 11,250 jobs per week in October 2025, potentially the largest monthly loss since 2020. Meanwhile, the White House confirmed that the October unemployment rate will not be reported due to an uncompleted survey, leaving uncertainty about the full scope of labor market trends.
Looking Ahead
With these cuts, Verizon aims to strengthen its competitiveness, reduce costs, and adjust its business strategy in a rapidly evolving telecommunications landscape. Analysts suggest that the company’s ability to retain customers and grow subscribers will be critical to the success of its restructuring plan.
What are your thoughts on Verizon’s historic job cuts and the impact on the telecom industry? Share your insights in the comments below and join the conversation on corporate restructuring and workforce trends.
