Credit: Edgar Cervantes / Android Authority
TL;DR
- Verizon has confirmed it will cut over 13,000 jobs and convert 179 corporate-owned stores into franchise locations.
- The company says the restructuring is meant to reset and realign priorities, backed by a $20 million transition fund for affected employees.
- These cuts follow roughly 20,000 prior job losses over three years and represent one of the largest single reductions in Verizon’s history.
Last week, we learned that both T-Mobile and Verizon were reportedly making some big changes in the near future. While T-Mobile has yet to unveil its news, Verizon has now officially announced its plans, as first noted by Bloomberg. As it turns out, Big Red is cutting more than 13,000 jobs, and it will also be converting 179 corporate-owned retail stores into franchise locations.
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