Job cuts are expected to hit one of the world’s largest telecommunications companies just over a month after crowning its new CEO.

Verizon, which has operating revenue of $101.81 billion so far this year, plans to cut about 15,000 jobs in the next week, according to The Wall Street Journal , which cited people familiar with the matter. The wireless service and home internet provider looks to pare back costs as it grapples with increased competition, the people said.

This cut would be the largest ever for the carrier, and a majority of the reduction is likely to be made through layoffs, according to The Journal . The company had around 99,600 employees on a full-time equivalent basis by the end of 2024, according to a securities report filed in February.

The company also plans

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