Verizon Wireless to Lay Off 500 Employees

Verizon announced it will sell 274 company-owned retail stores and eliminate around 500 corporate positions as part of a restructuring intended to boost competitiveness. The changes are said to affect nearly 3,000 employees across its retail and corporate operations, though prior divestments typically saw roughly 70% of store employees join new operators. The sale of the stores begins on August 16, after which Verizon expects to retain ownership of about 1,000 retail outlets; the company is coordinating with major franchise operators managing many franchised stores. The restructuring follows an earlier phase in November when Verizon transferred 179 stores to franchise operators and announced cuts of more than 13,000 positions, with additional reductions in May, and is led by CEO Dan Schulman amid competitive pressures in the U.S. telecom market.

Verizon Wireless cut 500 jobs affecting its corporate (corporate positions) team.

That is roughly 0.5% of the 108,500 people Verizon Wireless employs.

LayoffTalk has tracked 6 layoff events at Verizon Wireless since July 2024, affecting a combined 3,500 employees.