Verizon to cut about 15,000 jobs as new CEO restructures, source says

Reuters ^ | 11/14/25 | David Shepardson and Harshita Mary Varghese

[SeekAndFind]

Verizon's new CEO is planning to cut about 15,000 jobs in the U.S. telecommunications company's largest ever layoffs, a person familiar with the matter told Reuters on Thursday, outlining some of the executive's first efforts to restructure in the face of rising competition.

The wireless carrier faces mounting market pressure amid concerns over a shrinking pool of new customers as older rivals offer cheaper plans and cable operators jump into the fray.

A Verizon spokesperson declined to comment.

The layoffs, affecting about 15% of Verizon's workforce, are set to take place as soon as next week, the person said, and follow years of efforts to cut jobs and costs. The cuts will reduce non-union management ranks by more than 20% and Verizon also plans to turn about 180 corporate-owned retail stores into franchised operations, the source added.

Verizon CEO Dan Schulman was appointed in early October, arriving from the helm at PayPal as promotions by rivals AT&T and T-Mobile have intensified, particularly around the launch of new iPhone models, with aggressive discounts and trade-in deals to retain subscribers and win new customers.

Verizon needs aggressive change including "cost transformation, fundamentally restructuring our expense base," Schulman said last month. "We will be a simpler, leaner and scrappier business."

Verizon added just 44,000 monthly bill-paying wireless subscribers in the third quarter, lagging AT&T. T-Mobile led with more than 1 million net subscriber additions.

Cable operators like Comcast and Charter are shaking up the wireless market by bundling mobile plans with high-speed internet.

Verizon's shares rose about 1.5% on the news. They have largely stagnated over the last three years, with a gain of 8% compared with the S&P 500's near-70% rise.

[Billthedrill]

They’re worried about Elon Musk, and they should be.

[dagunk]

I’m on Verizon. It works in Rachel Nevada, population 97 (?).

Dumped ATT when they went GSM. GSM is not built out like PCS systms. Lots of coverage holes.

[Hyman Roth]

Verizon’s customer service blows but I use them because it gets a signal everywhere. Even in the Green Swamp in BFE NC.

[central_va]

Verizon has almost 3000 h-1b foreign nationals in their workforce. They need to go first.

[wally_bert]

Some parts of Sandy Run, SC are complete cell dead zones.

[delta7]

Record amounts of lay offs are being announced....the most in 22 years. It is just getting started.

https://www.cbsnews.com/news/economy-layoffs-job-cuts-october-2025-highest-22-years-challenger/

[Made In The USA]

Same here. I probably pay a bit more, but it’s reliable.

[Sequoyah101]

I gave up on T-mobile and AT&T when I had to tape my phone to a 20’ section of PVC pipe, stand on the pond bank and hold it all straight up in the air to even get a text message. I can see towers on the mountain south of the house about 5 miles. Verizon isn’t much better. The only way to get reception in the house is Wifi calling.

[SuperLuminal]

Yikes!
Hope it isn’t because, recently, I told them I was going to another internet/cell-phone provider...

[Zathras]

I suspect their 5G home network plan isn’t working well.

[minnesota_bound]

In the photo the 2 guys installing equipment on the tower are asking “are you sure they turned off the microwaves here?”

Once Starlink (Elon Musk) has enough satellites, the company will be selling phone service and many millions will sign up in dead areas for tv and movies and sports and telephone service that had no good choices. He also has plans on making his own phone that picks up the sat signals directly. Currently partnered with T-Mobile.