Published: November 13, 2025
Verizon Communications is preparing its largest workforce reduction on record, planning to eliminate roughly 15,000 positions—about 15% of its staff—as part of a sweeping restructuring under newly appointed Chief Executive Dan Schulman. The move is aimed at lowering costs and reversing subscriber erosion in a maturing U.S. wireless market. Verizon shares ticked higher on the reports. Reuters
What’s happening now
People familiar with the plan say announcements could come as soon as next week. The cuts are expected to land primarily on non‑union management ranks, affecting more than 20% of that group. Several dozen company‑owned retail stores will also shift to a franchise model, trimming corporate payroll exposure. Verizon declined to comment on the reports. Reuters
How many stores—and why franchising matters
Details vary by outlet: Reuters reports around 180 corporate stores will be converted to franchises, while the Wall Street Journal pegs the number at about 200. Moving locations off the corporate ledger removes those employees from Verizon’s payroll, a lever companies often use to cut fixed costs without abandoning storefront presence. Reuters
Who is affected
Reporting indicates unionized employees are not the focus of this round; the brunt will fall on non‑union management. That targeting suggests Verizon is preserving field operations and customer‑facing union roles while streamlining layers of oversight and corporate support. Reuters
The backdrop: a new CEO with a mandate
Verizon’s board named former PayPal chief Dan Schulman CEO on October 6, with former Aetna boss Mark Bertolini becoming board chair and outgoing CEO Hans Vestberg staying on as special adviser during the transition. In that announcement, Verizon reiterated full‑year 2025 guidance and highlighted ongoing network and fiber ambitions. Verizon
Why now: competitive pressure and shifting economics
Verizon has been losing postpaid mobile phone customers for three straight quarters, even as rivals leaned into richer trade‑in subsidies and promotional bundles. Schulman has publicly argued that Verizon must stop leaning on price increases and instead simplify, get “leaner,” and reclaim market share—messaging that aligns with the coming expense reset. Wall Street Journal
By the numbers
- ~15,000 jobs: size of the proposed cut; the largest in company history. Reuters
- ~15% of workforce: approximate share of total headcount. Reuters
- >20%: portion of non‑union management roles potentially affected. Reuters
- 180–200: corporate retail stores slated for franchising. Reuters
- ~100,000: employees at end‑2024 (context for scale). Reuters
What analysts are watching
Analysts say the immediate question is whether deep cost trims can finance richer phone subsidies and retention offers without crimping service quality. One well‑known telecom analyst framed the trade‑off bluntly: cutting expenses may be necessary to fund customer‑retention spending, but it’s unclear if the savings will fully cover those bills. Reuters
Investor reaction
Verizon shares rose roughly 1.4% after the reports surfaced—modest, but a sign investors expect cost actions to support margins while Schulman pursues subscriber stabilization. Reuters
Strategic context: heavy past investments, bigger ambitions
Verizon has layered on substantial commitments in recent years, including $52 billion for C‑Band spectrum to broaden 5G coverage and a $6 billion acquisition of TracFone. The company also points to a pending $20 billion purchase of Frontier Communications, expected to close in early 2026, as it seeks to bolster fiber reach. Those outlays heighten the urgency to realign the cost base. Reuters
What it means for customers
In the near term, subscribers shouldn’t see immediate changes in network coverage or retail access; franchising keeps many storefronts open under new ownership. The bigger swing is whether Verizon increases promotional intensity—especially on high‑end phones—to slow churn without eroding profitability. Schulman has signaled a tilt toward customer experience over across‑the‑board price hikes. Reuters
What’s next
- Timing: Layoff notices and store-franchise moves could begin as early as next week, based on current reporting. Bloomberg Law
- Scope: Final totals may shift as teams finalize lists and severance plans. Watch for regulatory filings and internal memos that firm up numbers and timelines. Reuters
- Leadership cadence: Expect Schulman and Bertolini to articulate a clearer multi‑year strategy once headcount and channel changes are set. Verizon
Quick FAQ
How many jobs is Verizon cutting?
About 15,000, or roughly 15% of its workforce—the biggest reduction in its history. Reuters
When will layoffs begin?
Announcements could come next week, according to people familiar with the plans. Bloomberg Law
Are union workers affected?
The cuts are aimed primarily at non‑union management roles; unionized positions are not the focus of this round, per current reporting. Reuters
What’s the deal with the stores?
Verizon plans to convert around 180–200 corporate stores to franchised locations, which shifts payroll off the company while keeping many locations open under new ownership. Reuters
Why is Verizon doing this now?
To fund a pivot toward customer retention and market‑share recovery after consecutive quarters of postpaid subscriber losses, and to align costs with prior big‑ticket network and fiber investments. Wall Street Journal
Sources: Reporting and corporate disclosures from Reuters, The Wall Street Journal, Bloomberg Law, and Verizon’s official news release informed this article. Key details on timing, scope, and store franchising come from same‑day coverage published November 13, 2025; leadership changes and strategic context draw on Verizon’s October 6, 2025 CEO transition announcement. Verizon
