Verizon has announced plans to transfer 274 company-owned retail stores to independent operators and reduce its workforce by about 3,000 retail and corporate positions as part of a broader restructuring effort.
According to the report, the changes will take effect on August 16 and are aimed at improving operational efficiency amid intense competition in the U.S. wireless market.
The report said the latest move marks the third major workforce reduction under Chief Executive Officer Dan Schulman since late 2025.
According to the report, Verizon is increasingly relying on artificial intelligence to enhance customer service, with company executives saying AI-powered systems have delivered higher customer satisfaction than traditional support channels.
Investors are expected to closely monitor the company's second-quarter earnings on July 24 for further details on the financial impact of the restructuring and its long-term strategy.
Related Tweet:
Verizon is selling 274 stores and slashing about 3,000 jobs in its latest round of cuts: The company will retain roughly 1,000 corporate-owned stores after the divestiture, which takes effect Aug. 16 https://t.co/fySq3XdPU4 pic.twitter.com/c8IhCoQNg1
— Quartz (@qz) July 16, 2026
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