Verizon announced its largest round of layoffs in company history, with 13,000 workers set to lose their jobs, according to an Associated Press report.
Verizon posted earnings of $4.95 billion in its third quarter of 2025 and $33.82 billion in revenue. It had subscriber growth for prepaid wireless services but lost 7,000 postpaid connections, such as a phone bill paid monthly after services are used.
Verizon will also reduce its outsourced and outside labor expenses.
In addition, the company formed a re-skilling and career transition fund worth $20 million for laid-off workers.
