Verizon CEO Confirms Carrier Will Cut More Than 13,000 Jobs
New Verizon CEO Dan Schulman confirmed reports that the carrier plans to cut more than 13,000 jobs in what will be its biggest ever round of layoffs (see 2511130051). Verizon will begin reducing its workforce “across the organization” and “significantly reduce our outsourced and other outside labor expenses,” Schulman said Thursday in a message to employees. “Every part of the company will experience some level of change, and we will have conversations with every affected employee to ensure they are treated with the utmost respect and care.”
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“As I shared at our most recent all-employee meeting, we need to change and evolve as a company to meet the needs of our customers and expand our market leadership,” Schulman said. Verizon’s cost structure “limits our ability to invest significantly in our customer value proposition.”