Verizon is preparing for the biggest round of job cuts in its history, with plans to eliminate nearly 15,000 positions over the next week, according to a report from The Wall Street Journal.
The move marks a major reshaping of the telecom giant as it battles rising competition and slowing subscriber growth.
As of February, Verizon employed around 100,000 people, based on securities filings. That means roughly 15% of its workforce will be affected; making this the company’s largest workforce reduction to date.
In addition to the layoffs, Verizon will convert about 200 of its retail stores into franchise locations, effectively shifting those employees off the company’s direct payroll as part of a broader restructuring effort.
Why Verizon Is Cutting Jobs
The company is under mounting pressure as competition intensifies in both the wireless and home internet markets.
Rivals like T-Mobile and AT&T have been aggressively expanding 5G offerings and discount plans, pushing Verizon to cut costs and streamline operations.
The job reductions follow other recent efforts by the company to control expenses amid tightening margins and customer churn in several key segments.
What Comes Next
Verizon has not yet made an official public announcement, but the cuts are expected to roll out within days.
Analysts say the move reflects a difficult balancing act: reducing costs quickly while still investing in 5G infrastructure and new customer services to stay competitive.
For employees, the layoffs represent a significant shake-up; for the telecom industry, it signals how sharply the landscape has shifted as companies race to hold on to subscribers in an increasingly crowded market.
