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.

His comments came as AT&T and T-Mobile expanded aggressive promotions tied to new iPhone models in an effort to retain and attract subscribers.

Verizon reported a net loss of 7,000 postpaid phone customers in the third quarter. T-Mobile, by contrast, posted more than one million net additions, its strongest performance to date. The results reflected sharply different subscriber trends among the major wireless carriers.

The job cuts followed earlier reductions. Verizon shed nearly 20,000 positions over the past three years through voluntary programs and restructuring efforts. The company also made major financial commitments, including $52 billion for midband spectrum in 2021 and an acquisition of Frontier Communications’ assets in 2024.

Officials with Verizon failed to return repeated phone calls and and emails seeking a reply or comment.