Verizon says it will lay off 13,000 workers as its new CEO seeks a ‘faster and more focused’ company. Read the full memo

• Verizon said Thursday that it will lay off more than 13,000 employees.

• The company started 2025 with about 100,000 employees.

• New CEO Dan Schulman said the cuts will make Verizon “faster and more focused.”

Telecommunications giant Verizon plans to lay off 13,000 employees, its new CEO said Thursday.

The job cuts will make Verizon “faster and more focused,” Verizon’s CEO Dan Schulman said in a message to employees.

Schulman’s memo, a copy of which was obtained by Business Insider. said the cuts are meant to reduce costs and focus Verizon on “delighting our customers.” Verizon started the year with about 100,000 employees.

“The actions we’re taking are designed to make us faster and more focused, positioning our company to deliver for our customers while continuing to capture new growth opportunities,” Schulman said.

“Every part of the company will experience some level of change,” he added.

Schulman became Verizon’s chief executive last month and has said he wants to create a “simpler, leaner, and scrappier” company. He previously served as CEO of PayPal.

Under Schulman, Verizon is trying to turn around its financial results after posting some worse-than-expected quarterly earnings. In April, for instance, Verizon said it saw a decline in monthly phone subscribers due to federal government budget cuts.

Here’s the full memo that Schulman sent to employees announcing the cuts:

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