Verizon will eliminate more than 13,000 jobs in the coming weeks in one of the largest workforce reductions in the US telecom sector this year. The carrier confirmed the cuts in an internal memo from newly appointed chief executive Dan Schulman, later published online.
Schulman told staff the company would begin reducing its workforce immediately, saying every division would see “some level of change” as part of a wider cost-cutting programme. The Wall Street Journal reported that employees in the US would be notified first, with international workers informed in the coming weeks.
Verizon had just over 100,000 employees at the end of September, meaning the cuts will remove roughly 13% of its headcount. The scale of the restructuring underscores the pressure on one of America’s largest carriers as it grapples with rising costs, shifting consumer habits and intensifying competition.
In his memo, Schulman said the company’s existing cost base and organisational structure were constraining investment in its “customer value proposition.” He argued that internal complexity had created friction and slowed execution. Verizon lost 7,000 postpaid phone subscribers in the most recent quarter, while rivals T-Mobile and AT&T posted strong additions, the Wall Street Journal noted.
The company said it had set up a $20 million fund to support departing workers with skills training, digital courses and job placement. It described the initiative as the first of its kind aimed specifically at helping workers adapt to the “age of AI,” a characterisation industry analysts viewed as an attempt to soften the blow of the layoffs.
Schulman, who became CEO in early October after seven years on Verizon’s board, is moving quickly to reshape the company’s cost structure. The Wall Street Journal had earlier reported that Verizon was preparing to cut around 15,000 roles, signalling the scale of retrenchment the new chief executive is willing to undertake.
With subscriber growth under pressure and competitors advancing aggressively, investors will be watching whether the restructuring helps Verizon reassert momentum. The coming quarters will test Schulman’s efforts to streamline operations and rebuild the carrier’s customer base in a fiercely contested market.