Overview
- One year into his three-year program, Schulman left his Montana retirement to run a rapid overhaul that included more than 13,000 job cuts to free money for reinvestment and speed decision making.
- Verizon reported stronger operating results in Q3 2026 with a net gain of 406,000 postpaid phone lines, a 41% drop in promotional acquisition costs, and free cash flow rising 12% to $7.8 billion.
- Schulman has targeted internal bureaucracy as a core problem, cutting multi-signature approval steps that once took dozens of signatures to accelerate product launches and experiments.
- The board extended Schulman’s contract through December 2028 so he can finish the planned three-year turnaround and oversee further network and technology investments.
- The company is shifting away from heavy free-phone promotions toward customer experience and network upgrades, a move that changes what customers see in offers and that Verizon says will help it prepare for new rivals such as Elon Musk’s Starlink.