Verizon begins reducing workforce by more than 13,000 employees
Summary
In a 20 November letter to staff, Verizon CEO Dan Schulman confirmed a major restructure that will cut more than 13,000 roles and significantly reduce outsourced labour. The company says its current cost structure limits investment in the customer proposition, so teams and resources will be realigned to simplify operations and improve customer experience. Verizon has established a US$20mn Reskilling and Career Transition Fund to support departing employees with digital training, skill development and job placement. Leaders will share new organisational structures and priorities in the coming weeks as the company prepares for 2026.
Key Points
- Verizon will reduce its workforce by more than 13,000 employees and significantly cut outsourced and outside labour expenses.
- CEO Dan Schulman framed the cuts as necessary to reorient the organisation around customer value and to simplify complex operations.
- A US$20mn Reskilling and Career Transition Fund has been created to provide training, digital upskilling and outplacement support for those leaving.
- Company leaders will announce new organisational structures and priorities in the coming weeks to align with the refreshed direction.
- Verizon says every affected employee will have conversations and be treated with respect and care during transitions.
Context and relevance
This is a significant restructuring by one of the largest US telecoms firms and reflects broader industry pressures to reduce costs, prioritise customer-facing investments and bring greater control over outsourced work. HR teams, suppliers and regional operations should expect ripple effects across contracting, recruitment and training markets. The firm’s explicit investment in reskilling signals a shift towards redeployment and support rather than pure severance-only approaches.
Why should I read this
Short and blunt: Verizon is cutting over 13k jobs and trimming its use of contractors — but it’s also putting cash into reskilling. If you work in HR, telecoms, outsourcing or are tracking layoffs and labour-market shifts, this gives you the nutshell you need to understand what’s coming and how firms are balancing cost-cutting with transition support.
