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| Economy |
| America's biggest wireless carrier cuts 15,000 jobs after price-hike gamble backfires |
| 2025-11-14 |
| [Daily Mail, where America gets its news] Verizon is preparing to cut around 15,000 jobs in the biggest round of layoffs in its history. America's biggest wireless carrier is battling shrinking customer numbers and rising competition across the wireless and home-internet markets. The cuts are set to roll out within the next week and will come mostly through direct layoffs, according to the Wall Street Journal who first reported the news. The company — which has about 100,000 employees — also plans to spin roughly 200 of its retail stores into franchises, shifting those workers off Verizon's payroll. Verizon — the largest US telecom provider by subscribers — has been losing lucrative postpaid phone customers for three straight quarters as rivals T-Mobile and AT&T step up aggressive promotions. It caps a disastrous stretch for the telecom giant, which has been losing subscribers at an alarming pace. Verizon admitted in April that it lost 289,000 monthly wireless customers in the first quarter alone — more than double the losses from the same period last year and far worse than Wall Street expected. The company told investors the exodus 'reflects the impact of recent pricing actions,' after the company raised rates and scaled back discounts. Related: Verizon 12/20/2024 Virginia man charged with planning 'mass casualty' attack at NYC Israeli consulate Verizon 11/08/2024 Trump. Better coverage than Verizon Verizon 10/24/2024 Teen arrested for plotting terror attack on Phoenix Pride parade |
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