Verizon lays off over 3,000 and sells 274 stores as customer losses mount
Verizon is laying off more than 3,000 employees and selling 274 company-owned retail stores to franchisers as part of an aggressive turnaround strategy under CEO Dan Schulman. The move follows the loss of about 2.25 million wireless customers over the past three years due to price increases and intense competition. The carrier previously laid off over 13,000 workers in November 2025 and cut hundreds more in May 2026. The store sales, effective Aug. 16, will reduce Verizon's corporate-owned retail footprint to 1,000 locations. Critics, including Bosch USA executive John Sinclair, argue the cuts reflect poor leadership and risk hollowing out institutional knowledge. Verizon's latest earnings report showed rising wireless postpaid phone churn, underscoring its struggle to compete in a challenging market.
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