Overview
- The reductions mark the carrier’s largest single layoff and will primarily affect its U.S. workforce.
- Verizon will establish a $20 million career transition fund focused on reskilling for the "age of AI," while stating the cuts are not caused by AI.
- A company spokesperson called the move a chance to reset, restructure and realign priorities to regain leadership in communications.
- The push follows sluggish third‑quarter growth, with 44,000 postpaid phone additions versus more than 1 million at T-Mobile and stronger results at AT&T.
- Verizon has faced pressure on investment and margins after heavy spending on 5G spectrum and recent deals including Frontier and TracFone.