According to CRN, Verizon is preparing to cut 15,000 jobs, which represents about 15% of its total workforce of approximately 99,600 employees. The reported layoffs would be the largest in the telecom giant’s history and primarily affect non-union management ranks, hitting more than 20% of that workforce. The cuts come as new CEO Dan Schulman, who replaced Hans Vestberg in October, promised aggressive transformation during the company’s Q3 2025 earnings call last month. Verizon lost 7,000 wireless postpaid phone subscribers in its most recent quarter due to intensified competition from AT&T and T-Mobile. The company also plans to transition around 180 corporate-owned retail stores into franchised operations as part of the restructuring.
New CEO’s cleanup job
Dan Schulman’s arrival signals a pretty dramatic shift for Verizon. He’s coming from PayPal where he had a reputation for shaking things up, and he’s clearly not wasting any time. During that Q3 earnings call, he promised to “aggressively transform our culture, our cost structure, and the financial profile of Verizon.” That’s corporate speak for “we’re cutting deep and fast.”
But here’s the thing – cutting 15,000 jobs isn’t just trimming fat. That’s major surgery. When you’re eliminating more than 20% of your management ranks, you’re fundamentally changing how the company operates. I have to wonder if this is more about Wall Street expectations than actual operational efficiency. The timing is interesting too – just weeks into the new CEO’s tenure and we’re already seeing the biggest layoffs in company history.
The wireless wars are brutal
Verizon losing 7,000 postpaid subscribers might not sound like much for a giant, but it’s symbolic of a bigger problem. AT&T and T-Mobile have been eating Verizon’s lunch for years now. Remember when Verizon was the undisputed premium network? Those days are long gone. T-Mobile’s aggressive pricing and AT&T’s bundle strategies have completely changed the competitive landscape.
And let’s talk about those store transitions. Moving 180 corporate stores to franchise operations? That’s another way of saying they’re pushing costs and risks onto someone else. It might help the bottom line in the short term, but franchise operations often struggle with consistency and customer experience. Basically, Verizon seems to be betting that cutting costs will solve their subscriber problem. I’m not convinced it works that way.
What happens now?
So where does this leave Verizon? They’re cutting thousands of jobs while trying to compete in an increasingly commoditized market. The telecom industry has become brutally competitive, and when companies in this sector start massive layoffs, it’s often a sign they’re struggling to find growth elsewhere. They’re essentially admitting that their current business model isn’t working.
The real question is whether these cuts will actually help Verizon compete better, or if they’re just financial engineering to make the numbers look better for a few quarters. Massive layoffs can create serious morale and operational issues that linger for years. When you’re in the service business and you cut this deep, customer experience usually suffers. And in today’s wireless market, that’s the last thing Verizon can afford.
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