US Telecoms giant, Verizon has announced plans to lay off around 13,000 employees as part of a major cost-cutting and restructuring drive aimed at making the company “faster and more focused.”
In a message to staff on Thursday, CEO Dan Schulman said the decision was driven by “cost structure limits” and broader shifts in technology and the economy that are reshaping workplaces across industries.
“Changes in technology and in the economy are impacting the workforce across all industries. We see it in our families and within our communities,” Schulman told employees, adding that “every part” of Verizon will experience “some level of change” as the company sharpens its focus on “delighting our customers.”
Verizon began 2025 with a workforce of about 100,000 employees. The cuts will affect roughly 20% of the company’s non-union management staff, drawn from a pool of about 70,000 workers, according to spokesperson Kevin Israel, who stressed that no single department is being specifically targeted.
Schulman, who joined Verizon from PayPal and took over as CEO last month, has signaled his intention to build a “leaner” operation as the telecommunications giant faces rising competition, heavy network investment costs and the rapid evolution of AI, cloud and 5G-driven services.
$20 million career transition fund
As part of the restructuring, Verizon also announced a $20 million career transition fund to support laid-off workers with reskilling and career development. The fund is intended to help affected employees retrain and pursue new opportunities after they leave the company.
The layoffs at Verizon come amid a broader wave of corporate job cuts across the United States in 2025, including reductions at UPS, Paramount and General Motors, as companies seek to protect profits and reposition themselves in a slowing and increasingly tech-driven economy.
