Telecommunications

Verizon CEO Dan Schulman told employees on November 20 the company will eliminate 13,000 positions—about 13% of its workforce—to cut costs and restructure, citing a cost base that limits investment in its customer value proposition. The move comes as Schulman, appointed in October, prepares to integrate Frontier Communications after Verizon’s $20 billion purchase expected to close in early 2026 as part of a push into AI and connected devices.