Verizon is carrying out another round of restructuring that involves selling company-operated retail locations and reducing corporate headcount. Multiple outlets report that Verizon will divest 274 corporate stores by transferring them to authorized dealer partners. The store sale is set to take effect Aug. 16, and Verizon expects to retain about 1,000 corporate-owned stores after the divestiture.
In parallel with the retail changes, Verizon is laying off corporate employees. Reports indicate that approximately 2,500 employees are affected through the store-related restructuring, and an additional 500 corporate roles are eliminated, for a total of about 3,000 jobs impacted. The announcements are described as part of Verizon’s broader effort to reshape operations and improve performance.
Some coverage frames the move as part of continuing changes that began after Verizon’s leadership shift, with references to restructuring actions under new CEO Dan Schulman, who took over in October 2023. Overall reporting aligns on the core elements: sale of 274 stores, retention of roughly 1,000 corporate stores, and job cuts totaling about 3,000 corporate positions.
