Verizon’s Bold Move: 15,000 Jobs Headed Out the Door
In what marks its largest workforce reduction ever, Verizon Communications is set to slash about 15,000 jobs — nearly 15 % of its total U.S. staff — as newly appointed CEO Dan Schulman embarks on a large-scale transformation of the company. Reuters+2Al Jazeera+2
The cuts, slated to begin as early as next week, target primarily non-union management positions and are part of a broader plan to overhaul the telecom giant’s cost structure and sharpen its competitive edge. Investors
This shake-up comes as Verizon grapples with anemic subscriber growth, rising churn and aggressive pressure from rivals such as AT&T Inc. and T‑Mobile US that have been chipping away at its market share. Fast Company+1
Why Now? The Urgency Behind the Cuts
Verizon’s decision is not happening in a vacuum. The company has reported sluggish growth across its wireless and home-internet divisions, and its strategy of premium pricing without major subscriber gains has been criticized. Fast Company+1
Dan Schulman, who took the helm in early October 2025, has stressed that the business must become “simpler, leaner and scrappier.” He highlighted the need for aggressive cost-transformation — an admission that the status quo wasn’t working. Fast Company+1
Among the moves: the conversion of roughly 180 corporate-owned retail outlets into franchise operations, which will shift many store employees off Verizon’s direct payroll. Fast Company
Analysts suggest that these job-cuts will free up capital for subscriber retention efforts — such as device subsidies and promotional plans — but question whether the scale is enough to truly reverse the downward trend.