"Telecommunications giant Verizon plans to lay off 13,000 employees, its new CEO said Thursday. The job cuts will make Verizon "faster and more focused," Verizon's CEO Dan Schulman said in a message to employees. Schulman's memo, a copy of which was obtained by Business Insider. said the cuts are meant to reduce costs and focus Verizon on "delighting our customers." Verizon started the year with about 100,000 employees."
""The actions we're taking are designed to make us faster and more focused, positioning our company to deliver for our customers while continuing to capture new growth opportunities," Schulman said. "Every part of the company will experience some level of change," he added. Schulman became Verizon's chief executive last month and has said he wants to create a "simpler, leaner, and scrappier" company. He previously served as CEO of PayPal."
Verizon plans to cut more than 13,000 jobs, reducing workforce from about 100,000 employees at the start of 2025. New CEO Dan Schulman framed the reductions as measures to make the company faster, more focused, and better able to capture growth opportunities. Management said the cuts aim to reduce costs and sharpen attention on delighting customers. Schulman indicated that every part of the company will experience some level of change. Schulman became chief executive last month after serving as PayPal CEO. Verizon faces weaker-than-expected quarterly results and subscriber declines attributed in part to federal government cuts.
Read at Business Insider
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