Verizon layoffs: 15,000 to be fired, stock skyrockets as broader markets fall

Verizon plans to cut about 15,000 jobs as part of a big company change, a person told Reuters on Thursday. This is the biggest layoff in Verizon’s history, cutting around 15% of all its workers. The job cuts are expected to start next week.

On X, popular finance creator Meet Kevin wrote, “Verizon stock ROCKETS while market is crashing as they say they’re firing 15,000 workers.”