Verizon is cutting more than 13,000 jobs as it works to ‘reorient’ entire company

Verizon is laying off over 13,000 employees, about 20% of its management workforce, as part of a major restructuring effort to simplify operations and focus on customer satisfaction. The layoffs, the largest in the company's history, are driven by rising competition and the need to address operational complexity. CEO Dan Schulman, who took the helm last month, emphasized the need for aggressive transformation. The company also plans to reduce outsourced labor expenses. Verizon established a $20 million fund to support affected employees in transitioning to new careers.