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Verizon Businesses

Verizon Cutting More Than 13,000 Jobs As It Restructures (cnbc.com) 21

Posted by msmash from the more-pain dept.
An anonymous reader writes: U.S. wireless carrier Verizon said Thursday it will cut more than 13,000 jobs in its largest single layoff as it works to shrink costs and restructure operations. Verizon also said it plans to convert 179 corporate-owned retail stores into franchised operations and close one store.

Verizon's new CEO, Dan Schulman, said in a note to employees the company would reduce its workforce by more than 13,000 employees across the organization, and significantly reduce outsourced and other outside labor expenses.

Related: Delayed September report shows U.S. added 119,000 jobs, more than expected; unemployment rate at 4.4%
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Verizon Cutting More Than 13,000 Jobs As It Restructures More

Verizon Cutting More Than 13,000 Jobs As It Restructures

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  • For reference (Score:1)

    by Anonymous Coward

    https://www.verizon.com/about/... [verizon.com]

  • Franhises are bad for employees (Score:4, Insightful)

    by hwstar ( 35834 ) on Thursday November 20, 2025 @10:48AM (#65807039)

    "Verizon also said it plans to convert 179 corporate-owned retail stores into franchised operations"

    In other words, screw the employees even more which work at these stores as a new franchise owner comes in and demands a cut from the gross income. That cut will probably come from a reduction in salaries, and benefits (If there are currently any to begin with).

    Franchise models are even bad for the new owners, as the franchising corporation shifts a bunch of their costs onto the franchise owners. In addition to not paying salaries and benefits to the employees, the corporation can basically come in and say "This store looks run-down, and needs a remodel." Guess who pays for most of the remodeling costs.

    • They have been doing this for a while. My nearest Verizon store had turned into a Victra (which sounds like a good brand for a pesticide) by the time my phone turned into a brick, maybe 7 years ago. On the new phone that I bought there, the idiot applying the screen protector did it wrong, then peeled it off to replace, and caused internal shear that obliterated the battery and signal status markers in the upper right corner. I didn't notice this until I left the store, and I was not going back in to deal w

  • Not due to AI? No surprise the stock goes no where (Score:3)

    by blahbooboo2 ( 602610 ) on Thursday November 20, 2025 @10:49AM (#65807047)

    Lousy CEO. The proper explanation is this is due to AI efficiencies.

  • so much winning.

  • prices falling (Score:4, Informative)

    by ZipNada ( 10152669 ) on Thursday November 20, 2025 @10:56AM (#65807069)

    The cellular plans for the major carriers in the USA are under some pretty serious revenue pressure. I'm looking at the price of one line on the Verizon website today, it is $45/month. However you can get basically the same service for $19/month at their "Visible (by Verizon)" website; https://www.visible.com/plans/ [visible.com]

    You can get unlimited talk/text with limited data over the Verizon network at US Mobile for $10/month. https://www.usmobile.com/plans [usmobile.com]

    • Yeah, I jumped ship from T-Mobile to Mint Mobile several months ago. Same network: coverage & performance are indistinguishable. Cost went from $60/month to $15/month (prepaid annually).

    • Jeez,

      I get unlimited calls, unlimited texts & a gig of 5G data with rollover for unused for £6 /month here in the UK. You're paying too much.

      • Re: (Score:2)

        by eriks ( 31863 )

        I pay $2.50/month for about 25MB of data per month ($10 prepaid card every 120 days) from PagePlus (a verizon mvno), which doesn't sound like much, but is sufficient for quick calls, texting, text-only email and even live traffic mapping, since the balance carries over, taking care of occasional heavier usage. I do have to be careful using my phone when not on wifi, but it's a no-brainer when even the lowest cost "unlimited" plan costs 20 times that.

        Unfortunately, it's often difficult to get them to take m

      • >> £6 /month here in the UK. You're paying too much.

        Wow, great price. We are getting ripped off in the States.

  • The new Verizon CEO will get a $1000 bonus for every employee that gets laid off.

  • See the bottom line? Start firing to meet it, don't figure out how to properly run the business.

    • When times get tough, business executives tend to have an instinctive reaction: We need to cut costs to preserve our profitability. While there is nothing wrong with temporarily cutting costs to reduce overhead and bloated company structures, cutting costs also means cutting knowledge, damaging customer relationships and reducing employee productivity (nothing like a wave of redundancies to demotivate the workforce). Hence, the more a business relies on knowledge, expertise or its network of relationships,

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