Overview
- Verizon is set to announce a new round of layoffs on Thursday, according to employees cited by multiple outlets, though the company has not confirmed the size of the cuts.
- CEO Daniel Schulman has publicly targeted $5 billion in operating-expense savings for 2026 and said a substantial portion will come from headcount reductions.
- The company previously cut about 13,000 jobs in November 2025 and carried out additional reductions in May 2026 as part of the same cost program.
- Markets reacted modestly, with BNP Paribas Exane trimming its VZ price target to $44 and shares trading around $42.28 after the reports.
- Verizon still points to controlled capital spending of $16.0–$16.5 billion for 2026 and plans to report second-quarter results on July 24, which will show whether the cost plan boosts earnings without eroding revenue or service.