Verizon has cut jobs in several rounds since announcing more than 13,000 job cuts in November 2025. In 2026 it confirmed several hundred cuts in May and about 500 corporate cuts in July, alongside a plan to sell 274 company-owned stores to franchise operators. New Jersey WARN notices list hundreds of roles at its Basking Ridge headquarters.
Key takeaways
- November 2025: Verizon announced more than 13,000 job cuts under new CEO Dan Schulman.
- May 2026: several hundred further cuts, which Verizon said were not caused by AI.
- July 2026: about 500 corporate jobs cut and 274 stores sold to franchisees, affecting roughly 3,000 employees in total.
- New Jersey WARN filings cover Basking Ridge roles with effective dates from August to October 2026.
- Verizon is targeting a $5 billion cut in operating expenses in 2026.
What happened in 2026?
The November 2025 announcement set the tone. Schulman wrote to staff that the company's cost structure limited its ability to invest in customers. On the January 2026 earnings call he set a goal of cutting $5 billion of operating expenses during the year, with headcount a large part of it.
In May, Verizon confirmed cuts of several hundred people, under 1 percent of its staff, with the largest share at Basking Ridge, New Jersey. In July it announced about 500 corporate job cuts and the sale of 274 stores to franchise operators. It said the two moves together affect roughly 3,000 employees, though store staff can move to the new owners, so not all of them lose work.
What do the WARN notices show?
Under federal law, larger employers must give 60 days' notice of mass layoffs, and New Jersey requires 90 days. New Jersey's 2026 list includes Verizon entries at Basking Ridge, including 121 roles effective August 7 and 282 effective October 16. These notices are counts of affected roles, not extra cuts on top of the announced rounds.
Who is affected?
Corporate and management staff have taken most of the 2026 cuts. Union members covered by CWA and IBEW agreements go through a separate surplus process, which in September included voluntary buyout offers in New York and Massachusetts. Retail staff are mainly affected by the store sales.
What should affected workers do now?
Get your separation date, severance terms and benefit end dates in writing before you sign anything. In New Jersey, covered mass layoffs carry statutory severance of one week's pay per year of service. File for unemployment in the state where you worked as soon as your job ends; the US Department of Labor WARN guide explains your notice rights.
Then start the search with a resume that translates Verizon titles into plain terms other employers use. Our guides on fixing a resume that keeps getting rejected and following up on applications can help. For the wider picture, see our report on September job cut announcements.
Will there be more Verizon layoffs?
Verizon has not announced another company-wide round. Executives have said cost cutting will continue beyond 2026, but that does not confirm a date or headcount. Watch the company's quarterly results and state WARN lists rather than anonymous forum posts.
Sources: Verizon investor relations; US Department of Labor, WARN Act.
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About the author
Lutaf Junijo
Career Content Editor, World Careers Hub
Lutaf Junijo is the Career Content Editor at World Careers Hub and Dev Global Jobs. He writes and edits our guides on jobs, CVs, visas, salaries and careers abroad, and he runs our official social media. Every fact is checked against official and trusted sources, named in the post, and errors are corrected as soon as readers report them.
