By Rajwa Quasim
Verizon Communications, the nation’s largest wireless carrier, is set to announce fresh layoffs on Thursday, making it the third round under the current CEO Daniel Schulman. According to a Barron’s report, layoffs are part of a cost-cutting drive under the current CEO.
Since taking over as CEO in October 2025, Schulman has focused on reducing Verizon’s operating costs. The latest layoffs come after the company cut a record 13,000 jobs in November 2025, followed by another round of layoffs in May. This step is expected to slash operating costs of around $5 billion in 2026, which can offset declining market share.
According to Yahoo! Finance, Verizon’s shares slipped about 0.6% on Tuesday following reports that the telecom company is preparing another round of job layoffs this week. The precise number of layoffs is yet to be announced.
READ: Verizon to cut 15,000 jobs as new CEO restructures company (November 14, 2025)
The telecom company had an estimated workforce of 89,900 employees at the start of 2026. As reported by Seeking Alpha, Schulman told the staff in December 2025 that the previous layoffs were necessary to reduce costs and free up resources for improving customer services. He also acknowledged that the customer satisfaction levels were “not great” and said that the company had lost market share over the past five years.
As part of its turnaround strategy, Verizon introduced its flat-rate “simplicity plan” last month and is now expanding the use of AI in customer service operations. With the integration of AI, it is believed to have reduced operating costs while improving the customer satisfaction.
Verizon also decreased it spending on capital expenditure to about $16 billion, which is less than the previous year. It also acquired the broadband operator Frontier Communications for $20 billion. Under the merger agreement, select Frontier workers get immunity from involuntary layoffs for four years.
READ: US layoffs in first 10 days of May 2026: Nearly 38,000 jobs cut (May 10, 2026)
It is worth noting that Verizon is set to publish its second quarter financial report on July 24. In the first quarter, it reported revenue of $34.4 billion, lower than the forecasted $34.89 billion while the earnings came in at $1.28 per share, surpassing estimated $1.21 per share and also added a net 55,000 postpaid phone connections.
For the second quarter, analysts forecast earnings of $1.27 per share and revenue of $35.25 billion.
The latest layoffs are part of a broader trend of companies cutting costs through workforce reductions. Most recently, Spectrum, owned by Charter Communications, announced hundreds of job cuts as it grapples with declining cable TV and internet subscribers. The company lost more than 120,000 internet customers and 60,000 cable TV subscribers in the first quarter of the year, following price increases for TV packages and several other plans introduced last July.