Verizon Prepared Largest Workforce Reductions as Competition Intensified

WASHINGTON, Nov. 14, 2025 — Verizon planned to cut about 15,000 jobs as new Chief Executive Dan Schulman moved to restructure the company in response to intensifying wireless competition.

The layoffs would represent about 15 percent of Verizon’s U.S. workforce and mark the company’s largest reduction to date. Reuters reported that non-union management positions would fall by more than 20 percent and that roughly 180 corporate-owned retail stores, about 8 percent of Verizon’s total, would shift to franchised operations.

Schulman, who took over in October after leading PayPal, said last month that Verizon needed to lower costs and “fundamentally restructure” its expense base.