Verizon layoffs: Largest telecom company in America may cut thousands of jobs as new CEO Dan Schulman takes over; here’s what he said

America’s largest telecom company Verizon Communications is reportedly preparing to announce companywide job cuts as soon as next week. According to a report by Bloomberg, quoting people familiar with the matter, layoffs at Verizon mark one of the most significant steps yet in new Chief Executive Officer Dan Schulman’s turnaround strategy. While final decisions are still being made, Verizon is considering eliminating 10,000 to 15,000 positions, one person said. The carrier had just under 100,000 employees at the end of 2024.

The layoffs would spare Verizon’s unionized workforce, including employees at a limited number of retail outlets, the people said.