Verizon Planning Largest Layoffs in Company History: Report

Telecom giant Verizon is preparing for its largest-ever workforce reduction, according to a Wall Street Journal report. The layoffs could impact thousands of employees as the company aims to cut costs amid market challenges and fierce competition.

Verizon’s Massive Workforce Restructuring

Sources indicate the layoffs may affect up to 10% of Verizon’s global workforce—potentially over 10,000 employees—making it the company’s biggest job cut to date. The restructuring will target multiple departments, including customer service, marketing, and technical roles, as part of an “operational efficiency” push.

Why Is Verizon Cutting Jobs?

Several key factors are driving the layoffs:

✅ Slowing Wireless Growth – The U.S. wireless market is near saturation, with fewer new subscribers and longer device upgrade cycles.
✅ 5G Investment Challenges – Despite heavy spending on 5G expansion, monetization has lagged expectations.
✅ Competition from T-Mobile & AT&T – Rivals are outpacing Verizon with aggressive pricing and strong network coverage.
✅ Economic Pressures – Inflation and recession fears are forcing cost-cutting across telecom and tech sectors.

Employee and Union Backlash

The Communications Workers of America (CWA) has vowed to fight the cuts, calling them a move of “corporate greed over workers.” Unionized employees fear frontline workers will bear the brunt of the reductions.

Will Customers Be Affected?

Verizon claims service quality won’t suffer, but analysts warn deep cuts could lead to slower support and reduced retail staffing—potentially hurting customer satisfaction.

Telecom Layoffs: A Growing Trend

Verizon joins AT&T, Ericsson, and Vodafone in downsizing, signaling a broader industry shift as companies adapt to changing demand and economic pressures.

What’s Next for Verizon?

Official details are expected in the coming weeks, likely alongside the next earnings report. Investors will watch whether these cuts boost profitability without harming long-term growth.

Final Takeaway

Verizon’s historic layoffs reflect the telecom giant’s struggle to balance cost-cutting with workforce stability in a rapidly shifting market.