Verizon, one of the world’s largest telecommunications companies, plans to cut approximately 15,000 jobs as part of a restructuring plan under its new CEO. The layoffs will impact about 15% of its employees, making it the largest workforce reduction in the wireless carrier’s history. Next week, Verizon is set to lay off about 15,000 employees which is roughly 15% of its workforce, marking the largest job cuts in the wireless carrier’s history as part of its ongoing restructuring. pic.twitter.com/fF4xey2NbH — Breaking911 (@Breaking911) November 13, 2025 More from The Independent: The cuts, following the appointment of former PayPal boss Dan Schulman as CEO in early October, are aimed at its non-union management ranks and are expected to affect more than 20% of that workforce, one source said. Verizon also plans to transition around 180 corporate-owned retail stores into franchised operations, the source added. A Verizon spokesperson declined to comment. Verizon’s shares rose about 1.4% on the news. They have largely stagnated over the last three years, with a gain of 8% compared with the S&P 500’s near-70% rise. Verizon is battling rising competition as subscriber growth slows and cautious consumers are unwilling to buy premium wireless plans. It has faced mounting pressure from rivals AT&T and T-Mobile as the U.S. wireless market matures. “We will invest significantly across all elements of our marketing mix and customer experience to drive mobility and broadband growth, and we will fund these investments by aggressively reducing our entire cost base,” Schulman said, according to Fox Business. “We will be a simpler, leaner and scrappier business. This work is overdue and will be multi-year and an ongoing way of life for us,” he added. The cuts are expected to begin as soon as next week. Verizon had roughly 100,000 employees at the end of fiscal year 2024. Verizon to ax 15K jobs — largest ever for wireless carrier: report https://t.co/ozUp1E3ttE pic.twitter.com/v4lGtnB4U4 — New York Post (@nypost) November 13, 2025 Fox Business shared: Schulman, who has served on Verizon’s board for seven years, told analysts on the October call that the company’s financial growth has relied too heavily on price increases and that “a strategic approach that relies too much on price without subscriber growth is not a sustainable strategy.” “Every year, it gets harder to grow as we lap past price increases and experience higher churn. This cannot continue, and there is no question that meaningful change is needed,” he said. Shifting to a customer-first culture will simultaneously drive a much more efficient cost structure that will support the company’s incremental investments to enhance customer experience, Schulman told investors. He also rejected the premise that focusing on customer satisfaction would hurt profit margins. “I think this industry and clearly, Verizon are only scratching the surface of increased bottom line performance,” he added.