This will put a slight damper on the fresh jobs report release by the Department of Labor. On Thursday the Trump admin announced the long awaited September jobs report revealed 119,000 jobs were created in the month of September. However hours after the news was released Verizon announced its plans to lay off nearly 13,000 workers putting a slight sting in the otherwise optimistic news from the jobs report. Verizon to Cut 13,000 Jobs, Set Up $20 Million “Reskilling” Fund for Laid Off Staff In “Age of AI” https://t.co/SRQrB1EMSe — The Hollywood Reporter (@THR) November 20, 2025 The Hill revealed why Verizon decided to cut 20% of its workforce: Verizon is beginning to lay off more than 13,000 workers on Thursday in an effort to trim down staff and increase investments. “We must reorient our entire company around delivering for and delighting our customers,” CEO Dan Schulman wrote in the letter obtained by The Associated Press. He noted that the company was aiming to “to address the complexity and friction that slow us down and frustrate our customers” by simplifying operations. Layoffs will reportedly account for 20 percent of their workforce, which included 100,000 full-time employees at the end of last year, per AP. The company lost 7,000 net consumer postpaid phone connections, according to The Wall Street Journal. Their analysts previously forecast a gain of 19,000. Competition remains rampant as both AT&T and T-Mobile have steadily grown postpaid subscriber counts. Schulman was appointed as CEO last month to help trim down on spending and expand earning potential. He previously served as CEO at PayPal and Virgin Mobile USA. The news from Verizon comes as several other big companies have announced layoffs right before the Christmas season. In October Amazon announced it was also cutting a decent percentage of its workforce. Take a look: Amazon to cut 30,000 corporate jobs — 9% of worldwide office workforce: report https://t.co/okUYJnBISe pic.twitter.com/grra8IkYhJ — New York Post (@nypost) October 27, 2025 The New York Post reported more on Amazon cutting 30,000 of its employees: Amazon will slash 30,000 corporate jobs starting Tuesday, according to a report — unleashing one of the US’s biggest job bloodbaths this century as the company aggressively revamps its business with artificial intelligence. Sources told Reuters the reductions — which amount to 9% of Amazon’s global office-based workforce of 350,000 — will begin Tuesday and could unfold over several weeks. The company did not immediately respond to a request for comment. The Seattle-based web giant’s sweeping layoffs mark the biggest in a series of major contractions for the company, which has slashed tens of thousands of jobs since CEO Andy Jassy took over from the company’s billionaire founder Jeff Bezos in 2021. In 2022 and 2023, Jassy cut a total of 27,000 jobs, Reuters reported. Those cuts targeted Amazon Web Services, its devices group and entertainment units including Prime Video and Twitch.