05:09 PM EST, 11/20/2025 (MT Newswires) -- Verizon Communications ( VZ ) stated in a late Thursday regulatory filing it forecast a Q4 severance charge of $1.60 billion to $1.80 billion related to its workforce downsizing plans.

The downsizing will impact more than 13,000 positions, with over 80% of those affected exiting the company in December, according to the filing.

Verizon expects that the cost reduction plan will lower expenses related to outsourced, contracted, and other outside labor.