Verizon cuts over 3,000 jobs and sells 274 stores amid ongoing customer losses
Verizon is laying off more than 3,000 employees and selling 274 company-owned retail stores to franchisers as it continues to struggle with customer losses and heightened competition. The moves come under CEO Dan Schulman, who took over in October 2025 and has accelerated workforce reductions, including a previous layoff of over 13,000 employees in November 2025. Verizon has lost about 2.25 million wireless customers over the past three years following price increases. The company plans to retain at least 1,000 corporate-owned stores over the next three years. Critics, including Bosch USA's John Sinclair, argue the layoffs reflect poor leadership and a failure to innovate, while industry analysts note the strategy offloads expensive operational risks. The changes follow Verizon's latest earnings report showing elevated postpaid phone churn.
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