Verizon is cutting more than 13,000 employees (approximately 13% of its workforce) as part of a company-wide restructuring to 'reorient' operations, reduce costs, and improve customer experience. CEO Dan Schulman stated the company's cost structure limits investment capabilities. The layoffs represent the largest single round in Verizon's history and began Thursday, November 20, 2025. The company established a $20 million Reskilling and Career Transition Fund for affected employees