Core Insights - The company's board has expressed dissatisfaction with Hans Vestberg's network-first strategy, leading to a change in leadership [1] - The new CEO is planning significant cost reductions to realign the company's focus and improve financial performance [1] Company Strategy - The shift in leadership indicates a strategic pivot away from the previous CEO's approach, suggesting a need for a more balanced strategy that may include operational efficiency [1] - Major cost cuts are anticipated, which could impact various departments and operational areas within the company [1] Financial Implications - The planned cost reductions are expected to enhance the company's financial health, potentially leading to improved margins and profitability in the long term [1] - The board's decision reflects a critical assessment of past performance and a desire to implement changes that could stabilize or grow the company's market position [1]

PresentationGood morning, ladies and gentlemen, colleagues here in Bonn, we're reporting today on the Q3 figures. Christian Illek, the CFO of Deutsche Telekom; and Tim Hottges, the CEO, will -- and Tim will start as usual.Timotheus HöttgesChairman of Management Board & CEO Thanks, Philipp. Good morning, everyone. I think everybody is aware that our market environment is not easy. Every day, you can read up on this in the media. Investments are being cut back everywhere. Dividends are cut back or companies a ...

Market Overview - U.S. stock markets faced a significant downturn on November 13, 2025, marking one of the worst trading days since April, driven by concerns over high valuations of AI-related stocks and skepticism regarding the Federal Reserve's interest rate cuts [1][10] - Major indexes closed sharply lower, with the Nasdaq Composite dropping 2.3%, the S&P 500 falling 1.7%, and the Dow Jones Industrial Average shedding approximately 797 points, or 1.7% [2][10] Sector Performance - The negative sentiment was largely due to a rotation out of high-flying technology and AI stocks, as investors questioned the sustainability of their rapid gains, leading to a shift towards more defensive market areas [3] - Treasury yields increased, adding pressure to stock valuations, particularly for growth-oriented companies [3] Company-Specific News - Nvidia (NVDA) was a major drag on the market, with shares falling between 3.6% and 4.2%, as investor scrutiny over its valuation increased [5] - Tesla (TSLA) shares declined nearly 7% due to a steep year-over-year sales decline in China, highlighting competition and demand challenges [5] - The Walt Disney Co. (DIS) saw its shares tumble between 7.8% and 8.9% after missing quarterly sales forecasts, despite exceeding profit expectations [5] - Alphabet (GOOGL) experienced a notable drop of 2.3% amid the broader tech sell-off [5] - Cisco Systems (CSCO) rose 4.5% after boosting its full-year profit and revenue forecasts, driven by strong demand for networking equipment [5] - Sealed Air (SEE) shares soared between 16% and 19.6% following reports of a potential take-private deal [5] - Verizon Communications (VZ) shares rose 0.7% on plans to cut approximately 15,000 jobs for cost optimization [5] - Other AI-related stocks faced declines, including Super Micro Computer (SMCI) down 7.4%, Palantir Technologies (PLTR) down between 6.5% and 6.7%, and Broadcom (AVGO) down between 4.3% and 5.65% [5] - Companies in the cryptocurrency space also saw declines, with Robinhood Markets (HOOD) dropping nearly 9%, Interactive Brokers (IBKR) losing 7.8%, and Coinbase Global (COIN) sinking 6.9% [5] Economic Data and Federal Reserve Outlook - The market is awaiting crucial economic data, including the Consumer Price Index (CPI) and employment reports for October, which are expected to be delayed due to the recent end of the federal government shutdown [4][6] - The Federal Reserve's stance on interest rates remains a dominant theme, with skepticism about another rate cut in December, as the probability of a 25-basis-point cut decreased from 70% to approximately 53% [7] Upcoming Events - Nvidia's upcoming earnings report is highly anticipated, as it could serve as a significant test for the prevailing optimism surrounding AI technology [8]

Sources told The Wall Street Journal (WSJ) that in the name of reducing costs, Verizon Communications plans to cut about 15,000 jobs within the coming week.By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions .Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.According ...

Verizon Communications is preparing to eliminate roughly 15,000 jobs, which will become the largest round of layoffs in its history, as part of a sweeping cost-cutting effort aimed at improving effici... ...

BREAKING: Stock Market Ends Wild Week Narrowly Mixed Verizon Communications (VZ) will slash about 15% of its workforce, roughly about 15,000 jobs, as it struggles amid fierce wireless competition. Verizon stock rose on the news, bucking a broad market retreat. When Verizon reported third quarter earnings, the telecom reiterated 2025 guidance and announced a small dividend increase. In a surprise move, Verizon on Oct. 6 appointed Dan Schulman as chief executive officer. He replaced Hans Vestberg. Schulman ha ...

Verizon is planning to cut about 15,000 jobs, a person familiar with the matter told Reuters on Thursday. ...

Core Insights - Verizon is undergoing a leadership change with the appointment of Dan Schulman as CEO, aiming to reverse the company's share losses experienced under former CEO Hans Vestberg [1][2] - The company has dropped from the number one position in market capitalization, bond ratings, and market share to number three, losing 30% of its market share over the past eight years [2] - Schulman, who previously led PayPal, is expected to redefine Verizon's trajectory and is currently evaluating the company's cost structures and other operational aspects [2][3] Leadership Transition - Dan Schulman has replaced Hans Vestberg as CEO, with Vestberg remaining on the board until the 2026 annual meeting and serving as a special advisor until October 4, 2026 [3] - The leadership change is seen as critical for Verizon to address its declining market position and to implement a new strategic plan [2][3] Strategic Direction - Verizon's chairman, Mark Bertolini, emphasized the need for a different approach to regain market competitiveness, indicating that the company is at a "critical juncture" [2] - Schulman is expected to present a turnaround plan soon, focusing on the value of Verizon's offerings rather than engaging in a price war [4] - The board's decision to act reflects a proactive stance in addressing the challenges faced by the company [4]

100G Optical Network Backbone enables broadcast innovation for the Washington Capitals, Washington Wizards, Washington Mystics, and Capital City Go-GoNEW YORK, Nov. 13, 2025 (GLOBE NEWSWIRE) -- Verizon Business today announced the completion of a new 100G dedicated optical ring. This ring will serve as the core broadcast, content creation engine, and corporate network for Monumental Sports & Entertainment (MSE), the owners and operators of the independent regional media platform Monumental Sports Network (M ...

Company Overview - Verizon has experienced a decline in market position, dropping from number one to number three in market capitalization, bond ratings, and share value [1] - The company has lost 30% of its market share over the past eight years, indicating a significant issue that needs to be addressed [2] Strategic Changes - The newly appointed CEO, Dan Schulman, is tasked with evaluating the underlying cost structure and implementing changes to improve the company's performance [2] - There is a belief that once a comprehensive plan is established, Verizon will have a compelling narrative to present to the market [3] Market Dynamics - The market has reacted to the potential for a price war, but the focus is shifting towards the value of the products offered rather than just pricing strategies [3] - The board of Verizon recognized the need for action and has taken steps to address the company's challenges [3]