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Verizon Cuts 15,000 Jobs, Converts 180 Stores to Franchises Amid Market Pressures
14 Nov
Summary
- Verizon to cut 15,000 jobs, its largest downsizing ever
- Verizon to convert 180 company-owned stores into franchises
- Cuts aim to reduce non-union management positions by over 20%
As of November 14, 2025, the wireless carrier Verizon is undergoing a major restructuring, with plans to cut at least 15,000 jobs and convert 180 company-owned stores into franchises. This marks Verizon's largest downsizing ever, affecting around 15% of its workforce.
The layoffs are reportedly set to take place as soon as next week and will reduce non-union management positions by over 20%. This is one of the first major moves by Verizon's CEO, Dan Schulman, to downsize the company and make it "a simpler, leaner and scrappier business."
Verizon is struggling with market pressures, including fewer new customers, as competitors offer cheaper plans and cable companies like Comcast and Charter enter the wireless market. According to reports, up to 20,000 jobs could be cut as the company converts its owned stores into franchises, removing those employees from Verizon's payroll.
The telecom giant's restructuring comes amid a broader wave of layoffs across the economy, with companies like Amazon and Target also announcing significant job cuts in recent months.
