Verizon Cuts Hundreds of Jobs in Latest Round of Layoffs
businessinsider.com • • business
Key Points:
- Verizon confirmed it is cutting several hundred workers across the US, less than 1% of its total workforce, following a major layoff of 13,000 jobs six months ago.
- The largest share of the cuts is occurring at Verizon's headquarters in Basking Ridge, New Jersey, with smaller business units also affected.
- Verizon continues to hire for over 1,000 open positions and encourages affected employees to apply for these roles, balancing job reductions with growth in other areas.
- CFO Anthony Skiadas stated the company is "running leaner" after last year's layoffs and plans to continue cost reductions beyond 2026, though the latest cuts were not included in financial outlooks.
- CEO Dan Schulman emphasized that AI is not the cause of the recent job cuts, but acknowledged AI's significant positive impact on cost savings and software quality improvements.
