Verizon reportedly planning major store closures and layoffs

Another large U.S. institution whitethorn soon articulation the increasing database of businesses downsizing. Reports circulating connected online forums suggest that Verizon is readying to adjacent respective retail locations and laic disconnected employees arsenic portion of a broader restructuring initiative.

While the institution has not officially confirmed the rumors, the announcement is expected to beryllium made astir November 20.

Details specified arsenic which stores volition adjacent oregon however galore jobs volition beryllium affected person not been disclosed, but sources suggest that underperforming stores volition beryllium the archetypal to unopen down. The layoffs could interaction employees astatine some closing and remaining locations.

"It's truthful brainsick to maine that the full institution is alert of the layoffs but unaware wherever specifically. It's causing panic to astir each employees," said an alleged Verizon worker connected Reddit.

Another alleged Verizon worker shared akin frustrations:

"This twelvemonth has been an atrocious acquisition arsenic an employee. I've watched my full market's income trim significantly," different alleged Verizon worker commented. "The mean rep that was pulling ~60k a twelvemonth is struggling for 45 successful my market. Internal chatter is tense each over, and section absorption fundamentally enactment america each connected warning," the idiosyncratic commented.

Several users besides assertion the institution plans to regenerate immoderate positions with artificial quality (AI) tools, suggesting that lawsuit work roles whitethorn beryllium among the astir affected.

"I person nary religion that the caller CEO tin close the ship. His large solution is to further gut the institution and trust much heavy connected AI. This is retired of interaction with what customers are asking for," wrote 1 user.

Verizon (VZ) has been investing heavy successful AI done 2024 and 2025 to modernize its operations and enactment aboriginal growth.

In January, the institution launched Verizon AI Connect, a broad strategy and suite of products designed to assistance the concern deploy large-scale AI workloads. The inaugural integrates Verizon's 5G, fiber, and edge-computing networks to enactment real-time AI applications.

More Retail Closures:

• 70-year-old slope concatenation closing 51 locations crossed 13 states

• Macy’s announces unexpected closure up of vacation season

• Iconic gym concatenation shuts down 23 locations

Verizon has besides formed partnerships with large exertion firms, including Nvidia (NVDA), Vultr, Google Cloud (GOOG), and Meta (META), to fortify its AI capabilities.

"We are seeing important request for reliable web infrastructure that tin enactment existing AI workloads," said Verizon Business CEO Kyle Malady successful a property release. "As the exertion evolves, our manufacture leadership, best-in-class edge-to-cloud connectivity, programmable web and assets volition alteration america to conscionable these needs and accelerate innovation."

• AI Business Assistant: Answers lawsuit questions via substance messages

• AI Shopping Assistant: Recommends products to customers portion making purchases

• Project 624: AI-powered work and enactment inaugural to amended work crossed digital, retail, and different channels (introduced successful June)

Despite a 1.5% year-over-year gross summation to $33.82 cardinal successful the 3rd 4th of fiscal 2025, Verizon fell abbreviated of analysts' expectations.

Verizon CEO Daniel Schulman acknowledged during an net telephone that the institution "is not reaching its potential" and that shareholder returns person been disappointing. He besides noted that the company's fiscal strategy has relied excessively heavy connected terms increases without driving meaningful subscriber growth.

"A strategical attack that relies excessively overmuch connected terms without subscriber maturation is not a sustainable strategy," said Schulman.

To code these challenges, Schulman revealed a program focused connected ratio and lawsuit experience.

"We volition put importantly crossed each elements of our selling premix and lawsuit acquisition to thrust mobility and broadband growth, and we volition money these investments by aggressively reducing our full outgo base. We volition beryllium a simpler, leaner and scrappier business," helium added.

Schulman besides emphasized that AI volition play a important relation successful the transformation.

"We volition leverage AI passim the institution to marque it easier for our employees to delight our customers and to dramatically amended work portion reducing outgo and complexity crossed the immense bulk of our concern processes," said Schulman.

While Verizon has not explicitly stated that the layoffs are portion of its cost-cutting plan, its increasing usage of AI to automate processes suggests that quality roles whitethorn beryllium reduced arsenic exertion takes implicit repetitive tasks.

Research from Harvard Business School notes that relying connected layoffs to mitigate impermanent economical shifts is often unsuccessful and has hidden costs that marque companies little profitable, innovative, and productive implicit time.

"While layoffs whitethorn supply contiguous fiscal relief, they often incur important semipermanent costs that tin undermine the precise stableness and show they purpose to protect," said Headhunter & Talent Strategist Bryan Blair successful a LinkedIn post.

The broader retail scenery reflects akin pressures. As integer services and AI automation expand, accepted brick-and-mortar stores proceed to conflict and are nary longer needed to the aforesaid standard arsenic before.

"Last twelvemonth we saw the highest fig of closures since the pandemic," said Coresight Research CEO Deborah Weinswig, arsenic Business Wire reported. "Retailers that were incapable to accommodate proviso chains and instrumentality exertion to chopped costs were importantly impacted, and we proceed to spot a inclination of consumers opting for the way of slightest resistance."

Coresight Research forecasts that store closures successful the U.S. could scope astir 15,000 this year. In 2024, determination were 7,325 closures, the highest fig successful 4 years, outpacing openings arsenic of January 2025.

Several large U.S. retailers person announced 29.6% less openings and 334.3% much closures successful 2025 compared to the aforesaid play successful 2024. Coresight notes that closures by Party City, Big Lots, Kohl’s (KSS), and Macy's (M) person contributed to the surge.

Verizon was contacted for remark but did not instantly reply to The Street's request.

Related: Popular discount retailer announces closure amid fiscal struggles

This communicative was primitively reported by TheStreet connected Nov 9, 2025, wherever it archetypal appeared successful the Retail section. Add TheStreet arsenic a Preferred Source by clicking here.