Verizon is set to announce another round of staff reductions this week as it accelerates efforts to trim expenses and refocus spending.
The US wireless leader will inform employees and make the cuts public on the morning of July 16, 2026. The company did not confirm how many roles will be affected. The move comes under CEO Daniel Schulman, who has prioritised cost discipline since taking over in October 2025.
The latest cuts are part of a broader plan to reduce $5 billion in operating expenses by 2026. During an earnings call in January, Schulman said headcount reductions would deliver a large share of those savings. Verizon started the year with roughly 89,900 employees.
This will be the third major reduction in less than a year. In November 2025, Verizon cut 13,000 jobs — its largest layoff ever. A second wave followed in May 2026, impacting several hundred employees, with the headquarters in Basking Ridge, New Jersey, seeing the biggest impact.
The company is also pulling back on capital spending, with 2026 capex guided at $16 billion to $16.5 billion, down from prior years. At the same time, Verizon closed its ?$20 billion acquisition of Frontier Communications and is leaning more on AI to handle customer interactions and lower support costs.
Leaders say the restructuring is needed to stay competitive amid market share losses over the last five years. While automation has helped reduce vendor costs, executives clarified that AI is not the direct driver of the current layoffs.
Verizon noted it is still hiring in areas tied to growth, even as it restructures legacy functions and reduces real estate and contractor spend.
