VERIZON COMMUNICATIONS INC

Verizon Communications Inc.

Telecom Services Communication Services New York, NY, United States VZ (NYQ)

Verizon Communications Inc., through its subsidiaries, engages in the provision of communications, technology, information, and entertainment products and services to consumers, businesses, and governmental entities worldwide. It operates in two segments, Verizon Consumer Group (Consumer) and Verizon Business Group (Business). The Consumer segment provides wireless services across the wireless networks in the United States under the Verizon and TracFone brands and through wholesale and other arrangements; and fixed wireless access (FWA) broadband through its wireless networks, as well as related equipment and devices, such as smartphones, tablets, smart watches, and other wireless-enabled connected devices. The segment also offers wireline services in the Mid-Atlantic and Northeastern United States, as well as Washington D.C. through its fiber-optic network, Verizon Fios product portfolio, and a copper-based network. The Business segment provides wireless and wireline communications services and products, including FWA broadband, data, video and conferencing, corporate networking, security and managed network, local and long-distance voice, and network access services to deliver various IoT services and products to businesses, government customers, and wireless and wireline carriers in the United States and internationally. The company was formerly known as Bell Atlantic Corporation and changed its name to Verizon Communications Inc. in June 2000. Verizon Communications Inc. was incorporated in 1983 and is headquartered in New York, New York.

Stock Performance (90 Days)

Data through Nov 14, 2025
Layoff Events
Earnings Calls
Price updates on page refresh. Intraday quotes available during market hours (9:30 AM - 4:00 PM EST).

Layoff History

10,000–20,000 (5 sources) employees (15.0%)
Nov 13, 2025
5 sources
Reason
Verizon Communications Inc. is undergoing a significant restructuring under its newly appointed CEO, Dan Schulman, who took office in early October 2025. This strategic overhaul, which includes the company's largest-ever layoffs, is a direct response to intense market competition, decelerating subscriber growth, and a mature wireless market where consumers are increasingly reluctant to pay for premium plans. Schulman's vision is to transform Verizon into a 'simpler, leaner, and scrappier business' by implementing aggressive cost transformation, fundamentally rebuilding its expense base, and moving away from an unsustainable reliance on price increases for financial growth. The company has faced mounting pressure from rivals like AT&T and T-Mobile, as well as cable operators entering the mobile service market, resulting in three consecutive quarters of postpaid phone subscriber losses. Schulman emphasized that Verizon's financial growth has relied too heavily on price increases, a strategy he deems unsustainable without corresponding subscriber growth. The layoffs are a critical component of Schulman's comprehensive turnaround strategy, which also includes plans to subsidize expensive handsets to retain customers, strengthen customer loyalty, eliminate practices that detract from customer experience, and leverage AI to simplify offers, all aimed at regaining market share, improving customer experience, and ensuring long-term financial health.
Affected Departments
Non-union management ranks (expected to affect over 20% of this segment)5G Acceleration (5GA) team (20-25% cuts rumored)Non-unionized positions across all segments
Affected Locations
US (nationwideparticularly impacting corporate-owned retail stores)US (nationwide)Corporate-owned retail stores (approximately 180-200 stores to be transitioned to franchised operations)
Source: Verizon planning its largest layoffs ever: Report | Telecommunications News | Al Jazeera View Source →

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