Verizon plans layoffs of up to 15,000 workers as new CEO Dan Schulman implements an aggressive cost-cutting strategy to compete with AT&T and T-Mobile.
The cuts are set to happen in the next week, with the company also planning to transition 200 stores to franchised locations, a report said.
The layoffs would represent 15% of the company's workforce.
The telecommunications company is looking to reduce costs as it works to stem customer losses.
Verizon chairman and Oscar Health CEO Mark Bertolini told CNBC's "Squawk Box" that the telecom company's board "needed to act" with its leadership transition. Former CEO Hans Vestberg was replaced by Dan Schulman in October.
Recently, Zacks.com users have been paying close attention to Verizon (VZ). This makes it worthwhile to examine what the stock has in store.
Verizon Communications remains a buy for income-focused investors, supported by attractive valuation and a 7% yield. VZ's Q3 earnings were mixed, with modest year-over-year growth but ongoing headwinds in broadband and wireless postpaid net additions. The new CEO's customer-first approach and cost-cutting initiatives could drive subscriber growth and future upside if successfully executed.
Verizon Communications Inc. just released its third quarter earnings. The VZ release was mixed, with a beat on adjusted earnings per share but a miss on revenue. Despite the mixed showing, the quarter apparently showed VZ's value increasing, with revenue and earnings both up during the period.
Verizon currently sports a juicy dividend yield of 7%. The valuation measures on the share are currently dirt cheap. What's wrong with this picture?
Verizon's Q3 beat on earnings, signaling strong financial discipline despite a slight revenue miss, justifying a positive market reaction. New management's "customer-first" strategy promises efficiency gains, cost savings, and potential top-line growth re-acceleration for VZ. Broadband's robust growth and higher margins are key drivers, offsetting postpaid phone losses and strengthening Verizon's market position.
Verizon's NYSE: VZ analyst trends revealed a hint of caution ahead of the Q3 release, which the results say was unwarranted. The caution, inspired by a sudden CEO change, helped trigger a significant share price correction that set the market up for a rebound, which the Q3 release has now triggered.
Although the revenue and EPS for Verizon (VZ) give a sense of how its business performed in the quarter ended September 2025, it might be worth considering how some key metrics compare with Wall Street estimates and the year-ago numbers.