Verizon is cutting more than 13,000 jobs as it works to 'reorient' entire company

Core Points - Verizon is laying off over 13,000 employees as part of a strategy to "reorient" the company and improve customer experiences [1][2] - The layoffs represent about 20% of Verizon's management workforce, which is not unionized, and come amid rising competition in the telecommunications sector [2][3] - The company reported earnings of $4.95 billion and revenue of $33.82 billion for Q3 2025, with a net loss of 7,000 postpaid connections despite growth in prepaid services [4] Company Strategy - CEO Dan Schulman emphasized the need to simplify operations to reduce complexity and enhance customer satisfaction [2][3] - The company plans to significantly reduce outsourced labor expenses in addition to the layoffs [5] Industry Context - Verizon is facing increased competition from major players like AT&T and T-Mobile, necessitating a transformation in its operations [3] - The current job market is challenging, with other companies like Amazon and UPS also announcing significant layoffs [5][6]