Location: United States.
Based on news reporting.
Verizon has laid off approximately 700 employees as part of ongoing workforce reductions initiated by CEO Hans Vestberg. This decision comes amid a broader strategy to streamline operations and reduce costs in response to competitive pressures in the telecommunications industry. The layoffs are part of a series of job cuts that have been implemented over the past year, affecting various departments across the company. Verizon's leadership has indicated that these measures are necessary to enhance efficiency and adapt to changing market conditions. The layoffs took effect on October 1, 2023, as the company continues to navigate a challenging economic landscape.
Verizon Communications Inc. cut 700 jobs as of October 1, 2023.
That is roughly 0.7% of the 101,200 people Verizon Communications Inc. employs.
LayoffTalk has tracked 29 layoff events at Verizon Communications Inc. since September 2023, affecting a combined 53,161 employees.
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