Verizon keeps cutting jobs a year into Dan Schulman's turnaround plan

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  "signal_type": "news",
  "signal_subtype": "decreases_headcount_by",
  "detected_at": "2026-10-25T01:45:21+00:00",
  "company": {
    "name": "Verizon",
    "domain": "verizon.com"
  },
  "data": {
    "url": "https://startupfortune.com/verizon-keeps-cutting-jobs-a-year-into-dan-schulmans-turnaround-plan/",
    "title": "Verizon keeps cutting jobs a year into Dan Schulman's turnaround plan - Startup Fortune",
    "excerpt": "No single mass layoff. Just 21 WARN notices since the start of 2026, nearly 5,700 workers gone, and more filings due this month under CEO Dan Schulman. Fresh WARN Act filings show Verizon eliminating positions in New Jersey, New York and Massachusetts through October, including 282 jobs at its Basking Ridge headquarters effective October 16 and a round of buyouts in upstate New York closing out October 11. None of these is the headline-grabbing mass layoff that made news when Schulman first took the job. They're smaller, quieter, and that's precisely the point: Verizon has moved from one big announcement to a steady drip of cuts that's now run for a full year. Schulman became CEO on October 6, 2025, replacing Hans Vestberg, and by November he had already announced what the company called its largest restructuring ever: roughly 13,000 to 15,000 job cuts, about 13 to 15% of the non-union workforce, tied to a plan to strip $5 billion out of operating expenses in 2026. Verizon took a severance charge of $1.6 billion to $1.8 billion in the fourth quarter of 2025 for that round alone, and more than 80% of those employees were gone within a month of being notified. That was round one. It wasn't the last. Verizon trimmed several hundred more positions in May. Then in July, the company announced it would sell 274 company-owned retail stores to franchise operators and cut another 500...",
    "summary": "Verizon eliminated 282 jobs at its Basking Ridge headquarters.",
    "location": "Basking Ridge, New Jersey, United States",
    "planning": false,
    "headcount": 282,
    "image_url": "https://startupfortune.com/wp-content/uploads/2026/10/verizon-dan-schulman-warn-act-notices.jpg",
    "confidence": 0.95,
    "published_at": "2026-10-25T01:45:21Z",
    "location_data": [
      {
        "city": "Basking Ridge",
        "state": "New Jersey",
        "region": "Northern America",
        "country": "United States",
        "continent": "Americas",
        "fuzzy_match": false
      }
    ],
    "effective_date": "2026-10-16",
    "article_sentence": "Fresh WARN Act filings show Verizon eliminating positions in New Jersey, New York and Massachusetts through October, including 282 jobs at its Basking Ridge headquarters effective October 16 and a round of buyouts in upstate New York closing out October 11."
  }
}

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