Washington, November 14: Verizon, the largest telecommunications company in the United States by market share, is planning to cut thousands of jobs as the new CEO, Dan Schulman, aims for restructuring and cost transformation, according to a report. The latest round of Verizon layoffs will reportedly affect around 15,000 employees, and the restructuring is expected to offset customer retention expenses.

Verizon appointed its new CEO, Dan Schulman, in early October 2025, and as part of his initial efforts, he plans to restructure the business amid rising competition. Verizon has been under pressure in the market and is facing a shrinking pool of new customers as rivals offer cheaper plans, according to a report published by Reuters. Meta Layoffs Continue: Mark Zuckerberg’s Company Lays Off Around 600 Employees From Multiple AI-Related Divisions Amid Developing ‘Superintelligence’.

Verizon Layoffs Likely to Affect 15,000 Employees As New CEO Steps In

As per the report, the Verizon layoffs will target around 15% of its total workforce, about 15,000 employees starting next week. The telecom giant has already history of cutting jobs and costs and this would continue the efforts to make the company compete against the rivals. The job cuts are expected to affect non-union management ranks by 20%. Further, the report mentoined that Verizon planned to turn around 180 corporate-owned retail stores into franchised operations. Amazon Layoffs: E-Commerce Giant Lays Off 660 Employees Across New York City, 9 Offices Impacted From Latest Round of Job Cuts.

Verizon New CEO Dan Schulman and His Plans

Verizon CEO Dan Schulman took the role in early October, having previously led PayPal. During the iPhone 17 series launch, competition for Verizon intensified as rivals including AT&T and T-Mobile began offering plans with aggressive discounts and trade-in deals. Schulman aims to win new customers and take on the competitors.

TruLY Score by LatestLY
Rating:3

TruLY Score 3 – Believable; Needs Further Research | On a Trust Scale of 0-5 this article has scored 3 on LatestLY, this article appears believable but may need additional verification. It is based on reporting from news websites or verified journalists (Reuters), but lacks supporting official confirmation. Readers are advised to treat the information as credible but continue to follow up for updates or confirmations

(The above story first appeared on LatestLY on Nov 14, 2025 01:27 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).