Archive · 14 Nov 2025
Verizon to Cut Up to 15,000 Jobs in Major Restructuring
Imagine Verizon, a big phone company, is changing how it works because it's not getting as many new customers as before.
The new boss, Dan Schulman, is making big changes to help the company do better.
He plans to let go of about 15,000 employees, mostly managers who are not part of a union.
He also wants to turn about 180 of their own stores into ones run by other people, like a franchise.
This is to save money and make the company stronger against other phone companies that have cheaper plans.
Verizon plans to cut approximately 15,000 jobs, representing about 15% of its workforce.
The layoffs are set to occur this month, potentially starting next week.
Cuts are expected to disproportionately affect non-union management ranks, reducing them by over 20%.
About 180 corporate-owned Verizon retail stores will be converted to franchised operations.
The restructuring is led by new CEO Dan Schulman to address market pressures and a shrinking customer base.
- Who
- Verizon Communications
- What
- A major restructuring involving approximately 15,000 job cuts and the conversion of around 180 corporate-owned stores into franchised operations.
- When
- Job cuts are expected to occur this month, potentially as early as next week, under the new CEO.
- Where
- Verizon's organization in the United States.
- Why
- To address market pressures from a shrinking customer base, competition from rivals offering cheaper plans, and new entrants; to revive growth, stabilize finances, and improve efficiency.
Reasons for Restructuring
Impact of Restructuring
Market Challenges
Reasons for Restructuring
Verizon faces mounting market pressure due to a shrinking customer base, competition from rivals offering cheaper plans, and new entrants like cable operators.
Impact of Restructuring
The restructuring aims to address these market challenges by reducing costs and improving efficiency.
Workforce Impact
Reasons for Restructuring
The layoffs are expected to primarily affect non-unionised employees and management ranks, potentially reducing these by over 20%.
Impact of Restructuring
The restructuring is a strategic move by the new CEO to revive growth and stabilize finances.
- Company
- Verizon Communications
- Potential Job Cuts
- Approximately 15,000 (about 15% of workforce)
- Stores to be Converted to Franchises
- Approximately 180
- New CEO
- Dan Schulman
- Primary Impact Group
- Non-union management ranks
