Verizon has cut jobs in three rounds since late 2025: about 13,000 jobs in November 2025, a few hundred more in May 2026, and about 3,000 retail and corporate roles in July 2026 tied to the sale of 274 company-owned stores. This article lays out what has been reported, what it means for people who work at Verizon, and what customers should expect. All figures are attributed and dated, because layoff counts are often reported differently.
Summary
- November 2025: roughly 13,000 jobs cut, described in reports as the largest single reduction in the company's history.
- May 2026: "a few hundred" more cuts across the country, reported by Yahoo Finance and Business Insider.
- July 16, 2026: sale of 274 company-owned retail stores to independent operators, effective August 16, moving about 2,500 retail workers off Verizon's payroll, plus about 500 corporate cuts.
- Further layoff notices (WARN filings) have been filed since, mostly for the Basking Ridge, New Jersey campus, with effective dates running into October.
Timeline of the cuts
| When | What was reported |
|---|---|
| Nov 2025 | About 13,000 jobs cut under new CEO Dan Schulman, who joined in October |
| Jan–Feb 2026 | WARN notices show cuts at locations in California, Washington and New Jersey; 1,319 employees at Basking Ridge in February |
| May 7, 2026 | Several hundred more jobs cut, according to Yahoo Finance |
| Jul 16, 2026 | Store sale announced: 274 stores to independent operators, about 3,000 jobs affected overall |
| Jul–Oct 2026 | More WARN notices for New Jersey and Washington, with effective dates from August to October, per layoff trackers |
WARN notices only cover cuts that meet the legal threshold at a given site, so they show part of the picture, not the total. The U.S. Department of Labor explains the rules on its WARN Act page.
Why Verizon is cutting jobs
Reports tie the cuts to the cost-cutting plan of CEO Dan Schulman, a former PayPal executive. He said that cost reductions would be "a way of life" at the company and acknowledged mistakes under his predecessor. One report cites a goal of reducing 2026 operating expenses by about $5 billion. Verizon said the earlier cuts were not driven by AI, but later investor comments referred to automation and an "AI tech stack", which several outlets noted. How much of the cuts relate to automation is not clear from public statements.
If you work at Verizon
This is general information, not legal advice. Employment law differs by state and by contract.
- Read any severance agreement before you sign. In the US, workers 40 and older who are offered severance as part of a group layoff generally get 45 days to consider it, and 21 days for an individual termination, plus a 7-day period to revoke once signed.
- Look for a WARN notice. The federal WARN Act generally requires large employers to give 60 days' written notice before a mass layoff or plant closing. Some states have their own rules.
- Store employees: if your store is being sold, you may be offered a job with the new owner. When Verizon sold stores in November, roughly seven in ten retail employees at those locations accepted positions with the incoming operators, according to Yahoo Finance. Compare pay, benefits, seniority, and who owns your tenure before deciding.
- Ask about benefits. Find out when health coverage ends, what happens to your 401(k) and any unvested stock, and how to continue coverage (COBRA).
- Keep records. Save your offer letter, performance reviews, and the layoff notice. If something looks wrong, an employment lawyer or your state labor department can review it.
If you are a Verizon customer
The store sale changes who runs many Verizon stores, not who provides your phone service. Verizon said it will keep about 1,000 company-owned stores, and about 5,000 more outlets are independent franchises, per Yahoo Finance. Your account, billing and network should still be handled by Verizon. What may change is the in-store experience: staff, hours, and how some store services are handled. For account problems, the Verizon app, website and customer care line remain the dependable route.
Be careful with scams. Times of company change bring fake "account update" calls and texts. Verizon will not need your password or full PIN by text, and you should use the official app or website to check your account.
How reliable are the numbers?
- The 13,000 figure for November 2025 was widely reported. A few sites also repeat figures of 15,000 or more for 2026 as projections, which were not confirmed.
- The July totals (about 3,000, made up of 2,500 retail workers and 500 corporate roles) come from reports on the store sale. Retail workers may move to new employers, so "cut" and "moved to the new owner" are not the same outcome.
- Trackers that add up WARN notices will give lower numbers than company-wide counts.
When you see a layoff number, check the date, whether it counts the store transfer, and whether the source is a company statement or a projection.
First-week checklist if you lose your job
A layoff is stressful, and decisions made in the first few days can affect your money and benefits for months. This is a general checklist for any US worker, not advice specific to Verizon, and rules vary by state.
- Get the key dates in writing. Ask for your last day of work, last day of pay, and the date your health coverage ends. Notices often differ from what is said in a meeting.
- Do not sign anything the same day. Severance agreements often release the company from claims. Take the full review period you are given and ask for an extension if you need it.
- File for unemployment benefits right away. Apply with your state's unemployment office (USA.gov links to each state) as soon as you are separated. Severance pay can affect timing in some states, so ask.
- Review your health coverage. Compare COBRA, a spouse's plan, and the health insurance marketplace. Losing job-based coverage usually opens a special enrollment period, but the window is limited.
- Check your retirement account and equity. Find out what happens to your 401(k), any employer match, and unvested stock or other awards.
- Save your work history. Keep copies of your offer letter, reviews, and a list of your accomplishments and projects, in a way that complies with company confidentiality rules.
- Update your résumé and tell your network. Large layoffs release many people into the same job market at once, so early outreach matters. If you plan to freelance or consult, our guides to writing an invoice and choosing a time tracking app cover the billing basics, and our CRM for startups guide helps if you start a small business.
Frequently asked questions
How many jobs has Verizon cut? Reports put the November 2025 round at about 13,000 jobs, with a few hundred more in May 2026 and roughly 3,000 tied to the July 2026 store sale. Because the July figure includes retail workers who may move to new employers, the total depends on how you count it.
Who is Verizon's CEO? Dan Schulman, a former PayPal executive, became CEO in October 2025 and has led the cost-cutting plan.
Are Verizon stores closing? The July 2026 announcement was a sale of 274 company-owned stores to independent operators, not a closure. Some individual stores may still change hours or staff, so check your store's page.
Will my phone service or bill change? The reports describe changes to who owns and staffs certain stores, not to the network or customer accounts. Your plan terms stay as written unless Verizon notifies you of a change.
Were the layoffs caused by AI? Verizon said earlier cuts were not driven by AI, though later statements about automation and an "AI tech stack" led several outlets to question that. The public record does not give a clear split.
What is a WARN notice? It is advance written notice that covered employers must give before mass layoffs. Public WARN filings are how trackers count layoffs by location.
Where was the biggest cut by location? Filings show the largest single WARN event of 2026 at Basking Ridge, New Jersey, where the company's campus is located.
Where to find reliable updates
- Verizon's newsroom and investor relations pages for company announcements and earnings call remarks.
- State labor department WARN pages for notices filed in New Jersey, Washington, California and other states.
- Major business news outlets such as Business Insider, Yahoo Finance and Barron's, which broke several of the 2026 stories.
- Your own HR contact or employee portal, if you work there. Rumor sites and forums are useful for sentiment but unreliable for facts.
Layoff coverage often leads with the biggest figure available, including projections. When you read a number, check whether it is a confirmed company statement, a WARN filing, or a forecast. Our guide to finding reliable news sources explains how to trace a figure back to where it started.
The takeaway
Verizon has cut well over 16,000 jobs in under a year if you add up the three rounds as reported, though the July number includes retail workers who may move to new employers. Employees should read any offer carefully, check for notice, and ask about benefits. Customers should expect their service and billing to stay with Verizon while some stores change hands. For more business explainers, see our Business section, including Net 15 vs Net 30 payment terms.
