09:09 AM EST, 11/20/2025 (MT Newswires) -- Verizon Communications ( VZ ) is reducing its workforce by over 13,000 jobs, multiple media outlets reported on Thursday.

The telecommunications company plans to convert 179 corporate-owned retail stores into franchised operations, the reports said.

In addition to the job cuts, chief executive officer Dan Schulman said the company would reduce outsourced and other outside labor expenses, Reuters reported, citing a note to employees it viewed.