Verizon needs to shed 8-10k more people to meet its 5B opex reduction by EOY. Maybe more when you factor in VZF.
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@OP What time is the layoff going to be?
We have a building in Manhattan to pay for.
This sounds right. There is def something brewing in that nasty coffee on the 4th floor.
@e8 expect essentially all of GTS to be re-badged by Q4. A bunch of execs plus maybe a handfull of "governance" style people will stay at VZ, all the people doing actual work will be at... (I actually don't know, I heard a deal with Deloitte was signed, others claim it's once again HCL, one coworker had Accenture vultures showing up asking leading questions...)
@e8 same!! I’ll be so f’ing pi---d if I miss out on severance after putting up with this bs for 20 years! I think they’d have a lot of lawsuits on their hands honestly.
Has anyone heard anything about re-badging? I’m concerned that I will be rebadged, and then the contracting firms will start making reductions and will not offer the generous RIF packages
@6 Why should I be bothered to read something you couldn't be bothered to write?
We really need a ban on AI generated posts here.
@a6 Before I was let go in Feb25, I was working on a company wide high rent relocation project. We had a list of 300+sites that would save the company $2B /year just by relocating from. I only know of one (on my list) that has been completed as of now
I hope so 🙏. I need a RIF package before looking elsewhere.
@cz please share. Do you know any specific groups that will be impacted? I’m assuming GNT?
There is a lot of due diligence happening to offload work to other companies. Those deals are imminent. Whatever happens in July is based on things already signed and the rest will be in Sept/Oct once those deals are signed too. I am hearing lots of NDA chatter too.
@OP Tell us something we don’t already know! It’s clear than laying off on the one hand and hiring contractors and possibly FTEs on the other is now routine. High employee turnover is now a feature not a bug.
@OP Lotta deadweight in this place!
@OP it's already happening.....little by little, groups by groups....the platypus said it...you guys did not pay attention.....be honest with yourself, we are a cr-ppy Co. Composed of a multitude of cr-ppy disfunctional teams....look around where you are right now and think about it....lots of small cuts are still needed everywhere
@a6 c'mon man use your A.I. "However, the conclusion that they are facing another massive wave of 8,000+ corporate layoffs is likely too alarmist. Verizon's primary we-pon for the remainder of 2026 is an aggressive war on vendor spend, software licensing, and real estate overhead, augmented by their rapid AI deployment. Expect targeted, smaller structural tweaks rather than a massive, headline-grabbing corporate bloodbath."
Back of the napkin math there will be 15k-18k in reductions before the promised Frontier synergies period expires in 2028.
@ak They promised 5B opex reduction and that is what will be delivered.
Why would Verizon layoff so many people. After Quarter 1 the execs declared victory. They said we did it, we turned the business around - they lied. Don't these companies realize they are destroying the economy. Are we all supposed to get Gig jobs that pay low wages and don't pay benefits? All for what to make the CEO rich and pay fat dividends to shareholders at the expense of 1,000s and 1,000s of families and loyal workers. Corporate Greed.
@a8 Associate offer coming soon.
@a8, but why would Verizon offer an EISP or VSP, when they can make the work environment as uncomfortable as possible in the hopes that people leave on their own, and/or layoff with reduced severance packages under the premise that AI efficiencies have made the job redundant, or outsourced roles going to India - all of which cost the company less money? Sorry, but all I can see going forward is more layoffs and RIFs.
An EISP of approx 2k employees could save over a billion dollars. 95
The Base Math: What Has Already Been Cut
When looking at corporate savings, a standard rule of thumb for a large telecom company is that a fully loaded corporate/management employee (including salary, benefits, payroll tax, and overhead) costs roughly $120,000 to $150,000 per year.
The November 2025 Wave (~13,000 jobs): At $130,000 per employee, eliminating 13,000 positions yields roughly $1.69 billion in annualized savings.
The May 2026 Wave (~621 jobs): This smaller, targeted round adds roughly $80 million in annualized savings.
layoffhedge
Current Total Personnel Savings: Roughly $1.77 billion.
The Gap: $3.23 Billion Remaining
Personnel savings only get Verizon about 35% of the way to their $5 billion target. The remaining $3.23 billion has to come from a mix of other strategic buckets that CFO Tony Skiadas outlined:
TIKR.com
Legacy Copper Decommissioning: Shutting down old copper networks and selling the scrap metal.
TheStreet
Real Estate Rationalization: Closing down administrative buildings and network sites left empty by a shrinking workforce.
TheStreet
Vendor and Third-Party Contractor Cuts: CEO Dan Schulman noted that their AI rollout has already reduced third-party vendor support costs by up to 70% in certain pockets.
Quartz
How Many More Internal Employees Need to Go?
If we assume that non-personnel cuts (copper, real estate, software efficiencies) successfully clear out $2 billion of that remaining gap, Verizon is still short by roughly $1.23 billion.
To close a $1.23 billion gap purely through payroll, Verizon would need to eliminate roughly 8,000 to 10,000 more positions before the end of 2026.