Verizon Communications plans to eliminate about 15,000 jobs, or roughly 15% of its workforce, as part of a sweeping restructuring effort, according to a source familiar with the matter. The layoffs, the largest in the company’s history, will primarily target non-union management positions, affecting more than 20% of that group. The move follows the appointment of former PayPal CEO Dan Schulman as Verizon’s new chief executive in October. Schulman has emphasized the need for aggressive cost transformation and a leaner business model amid slowing subscriber growth and rising competition from AT&T and T-Mobile. Verizon also intends to convert around 180 corporate-owned retail stores into franchised operations. The company’s shares rose 1.7% following the news, reflecting investor optimism about the restructuring’s potential to improve efficiency and profitability.
By David Shepardson WASHINGTON (Reuters) -Verizon is planning to cut about 15,000 jobs as part of the company's restructuring efforts, a person familiar with the matter told Reuters on Thursday. The layoffs, the largest ever for the wireless c
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