Verizon Weighs Up to 20,000 Job Cuts Under New CEO

Verizon is preparing a sweeping restructuring as its new chief executive steps in. Verizon is weighing up to 20,000 layoffs under new CEO Dan Schulman, a move that could be announced as early as next week and would mark the carrier’s biggest staff reduction to date.

What Verizon Is Planning

Bloomberg reports that internal discussions contemplate reducing headcount by 15,000 to 20,000, or up to one-fifth of the workforce, as part of an aggressive turnaround push. Reuters separately reports the company is preparing to eliminate about 15,000 positions, roughly 15% of staff, with actions starting as soon as next week. About 15,000 cuts could begin next week, according to that reporting. The figure would represent Verizon’s largest layoff on record.

The reductions are expected to focus on management ranks and corporate functions. Reuters adds that non-union management could be cut by more than 20% and that Verizon plans to convert a sizable portion of company-run retail locations into licensed outlets. Around 180 stores may be franchised, further shrinking the payroll.

Why Now

Schulman, the former PayPal chief who took over on October 6, 2025, inherits a mature wireless market where growth has slowed and promotions from AT&T and T-Mobile remain intense. Verizon has held to premium pricing even as cable operators such as Comcast and Charter scale their mobile offerings, pressuring customer additions and churn. In the third quarter, Verizon added just 44,000 monthly bill-paying wireless subscribers, far behind the pace at T-Mobile, according to Reuters.

Schulman has signaled a shift toward simplification and cost discipline rather than price increases, telling investors last month the company must become leaner and “scrappier” to compete. Bloomberg’s reporting frames the potential job cuts as central to that effort.

What To Watch

An official announcement could arrive in the coming days, with notifications to employees expected shortly after. Investors will look for details on the scope of affected roles, severance and transition support, and whether additional restructuring steps follow the store-franchising move. Verizon shares rose about 1.5% after reports of the planned cuts, reflecting hopes that deeper cost controls could bolster margins.

Ultimately, the scale and speed of the restructuring will test Schulman’s bid to reset Verizon’s competitive stance while maintaining service quality for tens of millions of customers. Clear execution—and early signs of improved subscriber momentum—will be the next metrics to watch.

Sources

• Verizon Eyes Up to 20,000 Layoffs as New CEO Takes Charge — Bloomberg (November 13, 2025)
• Verizon to cut about 15,000 jobs as new CEO restructures, source says — Reuters (November 13, 2025)
• Verizon Announces CEO Transition — Verizon (October 6, 2025)