HAPPENING NOW: Verizon announces its largest single layoff in company history, cutting more than 13,000 American jobs as corporate restructuring devastates working families across the nation.
Story Highlights
- Verizon eliminates 13,000+ jobs in the largest single workforce reduction in its history.
- New CEO Dan Schulman implements radical cost-cutting measures despite $78 billion in recent acquisitions.
- Company converts 179 corporate stores to franchises while closing additional locations.
- Workforce cuts target U.S. employees specifically, affecting 70,000 non-union workers.
Massive Job Cuts Hit American Workers
Verizon delivered devastating news to American families on November 20, 2025, announcing it would eliminate more than 13,000 jobs across its organization.
The telecommunications giant’s new CEO, Dan Schulman, who transitioned from PayPal in October, justified the cuts as necessary to “simplify operations” and reduce what he called “complexity and friction.”
This represents Verizon’s largest single workforce reduction in company history, targeting primarily U.S. employees from a workforce of approximately 100,000.
Verizon’s U.S. employees will be notified Thursday if they are being laid off in Verizon’s largest-ever round of workforce cuts https://t.co/SQBdi5VJ3L
— WSJ Business News (@WSJbusiness) November 20, 2025
Corporate Restructuring Prioritizes Profits Over People
Schulman’s internal memo to employees revealed the company’s true priorities, stating their “current cost structure limits our ability to invest significantly in our customer value proposition.”
The company spokesperson framed the layoffs as an “opportunity for Verizon to reset, restructure and realign priorities” to regain market leadership. However, this corporate speak cannot mask the harsh reality facing thousands of American workers who built this company’s success over decades of dedicated service.
Retail Operations Face Additional Cuts
Beyond the massive workforce reduction, Verizon plans to convert 179 corporate-owned retail stores into franchised operations while permanently closing one location. This strategy shifts operational costs and risks to franchise owners while reducing corporate overhead.
The move represents another blow to direct employment opportunities and benefits that corporate-owned stores typically provide to retail workers. These changes compound the economic impact on communities already reeling from the announced job losses.
Market Pressures Drive Desperate Measures
Verizon’s drastic actions stem from mounting competitive pressures in the wireless market. The company added only 44,000 monthly subscribers in the third quarter, significantly lagging behind competitors AT&T and T-Mobile, which added over one million net subscribers.
This poor performance comes despite Verizon’s massive spending spree, including $52 billion for wireless spectrum in 2021, $20 billion for Frontier Communications, and $6 billion for TracFone Wireless.
The company’s inability to translate these investments into subscriber growth raises serious questions about executive leadership and strategic planning.
Previous Job Cuts Signal Troubling Pattern
This latest workforce reduction continues a disturbing trend for Verizon workers. The telecommunications company eliminated almost 20,000 jobs over the previous three years, demonstrating a consistent pattern of prioritizing shareholder returns over employee stability.
Schulman established a $20 million career transition fund for laid-off employees, positioning the cuts as preparation for “opportunities and necessary skill sets as we enter the age of AI.”
However, this modest fund amounts to less than $1,540 per affected worker, hardly adequate compensation for destroyed careers and disrupted families.
