### Verizon's Major Restructuring: A Response to Competitive Pressures Verizon Communications, one of the largest telecommunications companies in the United States, is undergoing a significant transformation under its new CEO, Dan Schulman. The company has announced plans to cut approximately **15,000 jobs**, marking the largest layoffs in its history. This strategic overhaul is aimed at addressing rising competition and financial pressures within the telecom industry, as well as improving operational efficiency. Schulman, who previously led PayPal and Virgin Mobile, emphasizes that "cost reductions will be a way of life for us here" as he seeks to revitalize the company [https://fortune.com/2025/11/14/verizon-job-cuts-15000-ceo-schulman-cost-reductions-telecom-competition]. ### Breakdown of Verizon's Restructuring Strategy 1. **Job Cuts**: Verizon plans to eliminate about **15,000 positions**, which represents roughly **15% of its workforce**. This decision is part of a broader restructuring initiative aimed at streamlining operations and reducing costs [https://www.devdiscourse.com/article/headlines/3696804-verizons-largest-layoffs-restructuring-and-future-challenges]. 2. **Leadership Change**: The restructuring follows the appointment of Dan Schulman as CEO, who is implementing these changes as part of his strategy to turn around the company amidst increasing market pressures [https://www.masslive.com/news/2025/11/15000-face-layoffs-as-major-tech-company-names-new-ceo-restructures.html]. 3. **Franchising Plans**: In addition to job cuts, Verizon is also planning to convert some of its corporate-owned stores into franchises, which is expected to further reduce operational costs and enhance flexibility in its retail strategy [https://startuptalky.com/news/verizon-to-cut-15-000-jobs-as-ceo-unveils-massive-restructuring]. 4. **Focus on Efficiency**: Schulman has stated that the company will aim to become "a simpler, leaner and scrappier business," indicating a shift towards a more agile operational model to better compete in the telecom sector [https://www.independent.co.uk/news/world/americas/verizon-layoffs-thousands-jobs-b2864877.html]. ### Supporting Evidence and Data - **Job Impact**: The layoffs will affect approximately **15% of Verizon's workforce**, which was nearly **100,000 employees** at the end of 2024 [https://www.storyboard18.com/brand-marketing/verizon-poised-for-major-layoffs-as-new-ceo-dan-schulman-pursues-sweeping-overhaul-84234.htm]. - **Market Context**: Verizon's stock performance has stagnated, prompting the need for drastic measures to enhance competitiveness in a rapidly evolving market [https://www.econotimes.com/Verizon-to-Slash-15000-Jobs-as-New-CEO-Launches-Major-Restructuring-1725948]. - **Franchising Strategy**: The transition to franchising is part of a broader trend in the retail sector, where companies are looking to reduce overhead costs while maintaining market presence [https://www.independent.co.uk/news/world/americas/verizon-layoffs-thousands-jobs-b2864877.html]. ### Conclusion: A Strategic Shift for Verizon In summary, Verizon's decision to cut **15,000 jobs** and restructure its operations under CEO Dan Schulman is a significant move aimed at enhancing competitiveness in a challenging market. The company's focus on cost reduction, operational efficiency, and a shift towards franchising reflects a strategic pivot necessary for survival in the telecommunications landscape. 1. **Job Cuts**: 15,000 positions to be eliminated. 2. **Leadership Change**: New CEO Dan Schulman driving the transformation. 3. **Franchising Plans**: Transitioning corporate stores to franchises. 4. **Operational Efficiency**: Aiming for a leaner business model. These steps are critical as Verizon seeks to navigate the complexities of the telecom industry and position itself for future growth [https://www.ad-hoc-news.de/news/ueberblick/verizon-s-strategic-overhaul-massive-job-cuts-signal-transformation/68364460].