American wireless carrier company Verizon will be cutting 13,000 jobs, as part of a restructuring effort, according to a memo shared by CEO Dan Schulman.
The update comes after tech companies Amazon and Microsoft announced plans to lay off thousands of employees.
CEO Dan Schulman said in a separate letter that Verizon has been consistently losing market share for years now. The newly-appointed leadership executive has laid out a strategy that is to focus on customer experience, operational excellence, and market success.
“We will leverage our network excellence to increase our share of net adds. Winning in the marketplace demands a new approach, and a fully revamped and superior customer value proposition. It demands excellence across the entire customer experience,” said Schulman.
At the time of writing, Verizon’s share price was $41.1. Its Q3 2025 report showed a total operating revenue of $33.8 billion and an EPS of $1.17.