Reuters reported last week that Verizon’s new chief executive is targeting a major workforce reshaping, with about 15,000 job cuts anticipated and non-union management roles reduced by more than one-fifth.
In addition to the cuts, the plan would convert approximately 180 Verizon retail locations into franchise operations, according to unnamed sources cited by Reuters.
Verizon did not offer comment on the report. The company’s CEO, Dan Schulman, has publicly signaled a move toward a leaner, more agile organization and was named CEO in October.
The carrier has pursued cost-cutting initiatives for years, including a voluntary separation program announced last year that reduced US-based management headcount by about 4.5%, bringing the total cuts since 2018 to around 34,000.
Industry peers AT&T and T-Mobile are also seeking efficiency gains in a highly competitive market. Verizon nonetheless pursued expansion elsewhere, most notably signing a $9.6 billion deal in 2024 to acquire Frontier Communications, a major fiber network operator, to expand its broadband footprint.
These planned changes underscore the ongoing reshaping of the telecom sector as operators chase leaner cost structures while continuing to push customer growth in a crowded field.
