Verizon Slashes Jobs in Record-Breaking Layoff — Here’s What We Know

Verizon announced a sweeping workforce reduction that will affect “more than” 13,000 employees — roughly 13% of its global headcount — in what CEO Dan Schulman calls the company’s largest-ever layoff. In an internal memo, Schulman says the move is intended to “simplify our operations to address the complexity and friction that slow us down and frustrate our customers.” The company also plans to cut outsourced and outside labor costs significantly. U.S.-based staff will begin receiving notifications today; employees outside the U.S. will be informed in the “coming weeks,” the Wall Street Journal reports

What Verizon says

• Reason: operational simplification and removing friction that hurts customer experience.
• Scale: “more than” 13,000 roles, about 13% of the workforce.
• Outsourcing: a significant reduction in outsourced and outside labor spending is part of the plan.
• Timing: U.S. notifications begin immediately; international notifications will follow.

Immediate impact

• Employees: tens of thousands will be affected directly or indirectly. U.S. notifications beginning today means many workers will learn their status immediately.
• Operations: Verizon says the goal is to reduce complexity and improve service — but short-term disruption to teams and projects is possible as roles are consolidated.
• Customers: Verizon frames the change as a way to speed decision-making and improve customer experience, though execution risk exists during the transition.
• Outsourced partners: vendors and contract workers can expect renegotiation or reductions.

What affected employees should do now

1. Check official communications from HR and your manager for next steps and severance details.
2. Ask about outplacement support (resume help, job counseling) and whether the company offers extended healthcare, COBRA assistance, or phased transitions.
3. Document your work (accomplishments, repos, access) and secure personal copies of non-sensitive materials.
4. File for unemployment as soon as possible where eligible and update LinkedIn and your network.
5. Use company resources (employee assistance programs, career centers) and local talent services.

What managers and the company should prioritize

• Clear, compassionate communications and FAQs for affected employees.
• Fast, transparent explanation of severance, benefits continuation, and outplacement services.
• Careful workload redistribution and project continuity plans to avoid customer impact.
• A public-facing message to reassure customers and investors about service continuity and long-term strategy.

Market and strategic context (what this implies)

• Verizon is attempting aggressive cost reduction while refocusing on product and service quality (e.g., 5G, fixed wireless, enterprise services).
• Cutting outsourced labor and internal layers can reduce costs but carries execution risk: lost institutional knowledge, lowered morale, and short-term productivity dips.
• Investors may welcome lower operating expenses; customers and regulators will watch for service degradation.