Verizon will cut 13,000 jobs, about 13% of its workforce, as part of a major restructuring effort, CEO Dan Schulman said in a Nov. 20 letter to employees. Schulman wrote that Verizon’s current cost structure is limiting its ability to invest in customer-focused improvements, prompting the company to streamline operations and reduce expenses.
Verizon reported 99,600 employees at the end of 2024. Schulman, who took over as CEO in October, is preparing the company for its $20 billion acquisition of Frontier Communications, expected to close in early 2026.
Verizon announced wide-ranging layoffs Thursday morning that will shrink the company by as much as 20% of its non-union workforce, a major step in a turnaround plan led by new Chief Executive Officer Dan Schulman. https://t.co/DcrsWnEK4O
— Bloomberg (@business) November 20, 2025
Verizon says the deal will help expand its AI capabilities and connected smart-device ecosystem. Schulman previously led PayPal and held senior roles at AT&T, Priceline, Virgin Mobile and American Express.
The job cuts mark one of the largest workforce reductions in the telecom sector this year as Verizon tries to reposition itself for growth in an increasingly competitive market.
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