Verizon’s 13,000 Job Layoffs Arrived

We knew the Verizon layoffs were coming, but today appears to be the day that they have begun. Verizon’s new CEO, Dan Schulman, sent a note to employees this morning to explain why they will now begin reducing their workforce by 13,000 people. An insane number.

After taking over in early October, Schulman quickly promised to create a “simpler, leaner, and scrappier” Verizon that would enter a “full reboot” under his leadership. We all expected cuts, but 13,000 is a number that is still shocking to read. An earlier report suggested 15,000, but Verizon confirmed the 13,000 number to employees today.

The Verizon subreddit is filled with folks who have been cut, with retail associates, managers, wireline, and so many other channels confirming they have lost jobs. Some said their “whole team was scrubbed,” while others confirmed that their stores were being flipped to franchised stores. In last week’s report, the rumor was that Verizon would flip 180 stores from corporate-owned to franchise and that appears to have happened as well.

Verizon has been in trouble for a while now. They’ve regularly lost customers while T-Mobile and AT&T add them by the millions at times. They raised prices, took away loyalty discounts, chose the wrong type of 5G to lean on out of the gate, and probably waited far too long to ditch previously leadership. So now they attempt to start over by massively wrecking their workforce.

An awful day for all those affected.

You can read Schulman’s full letter to employees here.