- Verizon may be preparing another round of layoffs, although the scale of the cuts is unclear
- The move would mark the latest step in CEO Dan Schulman’s plan to cut billions in costs
- The company is set to announce Q2 results on July 24
Verizon may be on the brink of announcing another round of layoffs. According to a report in Barron’s citing an employee with knowledge of the plan, more layoffs will be announced on Thursday.
The report did not say how many employees would be affected and the company didn’t respond to a request for comment.
If it happens, it would be a continuation of CEO Dan Schulman’s game plan to significantly reduce headcount. Shortly after he took over, Verizon in November announced it was laying off 13,000 employees. That was followed by another round in May that included 121 job cuts in its home state of New Jersey.
Schulman has been extremely blunt about how AI is going to take away people’s jobs, predicting 20% to 30% unemployment in the jobs market within two to five years. To help people departing Verizon, he set up a $20 million Reskilling and Career Transition Fund that focuses on skill development, digital training and job placement.
In January, Schulman outlined a plan to cut $5 billion operating expenses in 2026, with a substantial portion coming from job cuts. He’s also emphasized that Verizon would put more attention on customer care than network superiority, without abandoning the network theme.
Back to basics
Last month, the carrier launched “Verizon Simplicity,” which it described as “the industry’s most simple and cost-effective plan.”
The Simplicity Plan is $45, with an initial promotional offer of $30 per line for mobile customers who switch to Verizon. Every Simplicity customer gets access to Verizon’s 5G network, including the premium Ultra Wideband version, with no upcharge. There’s also an option to add home internet starting at $35 a month.
At the same time, Verizon launched a new loyalty program that looks a lot like T-Mobile’s, but they’re framing it as better than T-Mobile Tuesdays because it includes daily perk drops versus once a week.
We’ll find out more about how Schulman’s turn-around strategy is working when it reports Q2 2026 results on July 24.
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