Verizon Prepares Third Round of Layoffs Ahead of Q2 Earnings

The company is preparing another round of job cuts, its third since Schulman became CEO in October 2025. The move comes as Verizon prepares to report second-quarter earnings, though the company has not disclosed the number of positions affected or which divisions will be impacted.

During a January earnings call, Schulman set a target to reduce 2026 operating expenses by $5 billion. He said a substantial portion of those savings would come from cutting staff, without providing a specific headcount goal.

The layoffs follow two earlier rounds of job reductions under Schulman's leadership. The company has not commented on whether this round will be larger or smaller than the previous ones.

Verizon's cost-cutting push comes as the telecom industry faces intense competition and pressure to invest in network upgrades. The company is scheduled to report its Q2 results in the coming weeks, and analysts will be watching for updates on the restructuring plan.