Verizon is poised to undergo significant restructuring, with plans to cut approximately 15,000 jobs, marking its largest-ever layoffs. This move, expected to impact about 15% of the workforce, comes under the leadership of new CEO Dan Schulman, following stagnation in the company's stock performance.

According to sources, the layoffs will target non-union management positions. In addition to job cuts, Verizon intends to transform around 180 corporate-owned retail stores into franchise operations. This strategy is a response to heightened competition from AT&T and T-Mobile US.

Schulman, who took charge at Verizon in October, emphasizes cost transformation to create a leaner business without relying on subscriber price hikes. The restructuring is part of a broader plan to combat subscriber

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