Verizon Cuts 3,000 Jobs in Second Restructuring Push This Year
Verizon is laying off 3,000 employees and closing company-owned stores as new CEO Daniel Schulman pursues cost reductions. It's the carrier's second restructuring wave in 2026.
Verizon Communications announced layoffs affecting around 3,000 employees as part of a broader cost-cutting restructuring under newly appointed CEO Daniel Schulman. The cuts mark the second round of workforce reductions the nation's largest wireless carrier has implemented in 2026.
The restructuring extends beyond headcount. Verizon is also reducing the number of company-owned retail stores and realigning its organizational structure as it pursues cost efficiency across its operations.
The move signals Schulman's early strategic priorities since taking the helm. Telecom operators have faced margin pressure from competitive wireless markets and aging infrastructure costs, prompting carriers to review their expense structures. Verizon's dual approach of workforce reduction and store consolidation suggests leadership views both as necessary to maintain profitability.
The scale of the cuts—3,000 employees—represents a material adjustment for a company that employed roughly 130,000 people in the US workforce as of recent filings, though exact current headcount varies by business unit. Company-owned retail store closures will further concentrate Verizon's direct customer-facing presence.
No specific timeline for completion or severance details were disclosed in the announcement. Industry observers will likely scrutinize whether these cuts improve operating margins or signal deeper competitive challenges in the carrier's core wireless business.
