Verizon has laid off 3,621 employees across 2 rounds since 2026.
3,621
Total Laid Off
2
Rounds
Technology
Industry
Jul 2026
Most Recent
July 16, 2026
3,000 employees
Verizon said it would sell 274 company-owned stores to franchise operators (effective Aug 16) and cut about 500 corporate roles, affecting roughly 3,000 retail and corporate employees in total. Most of the 3,000 are store transfers rather than outright job losses — Verizon said ~70% of workers at stores it previously divested were retained by the new owners, and it will keep ~1,000 company-owned stores. The move advances CEO Dan Schulman's goal of cutting $5B from 2026 operating costs, following ~13,000 cuts in late 2025 and a smaller round in May; this round was not framed as AI-driven.
May 12, 2026
621 employees
Verizon filed new cuts affecting about 621 roles (including 121 at its Basking Ridge, NJ headquarters), extending a reduction that followed roughly 13,000 cuts six months earlier as it targets ~$5B in operating savings; the CEO framed AI as a factor.