Verizon is cutting jobs and selling hundreds of stores to turn its fortune around

Credit: Edgar Cervantes / Android Authority TL;DR Verizon is selling 274 company-owned retail stores and is cutting 500 corporate jobs. The stores won’t be closed, but they’ll be run as authorized Verizon retailers by six different entities. The changes will go into effect on August 16.

Verizon has had a tough time in recent years, losing thousands of customers to its competition. When Dan Schulman took the reins as CEO in 2025, he was tasked with turning the company around to help it grow. Part of Schulman’s strategy to transform the carrier will impact thousands of jobs come August.

According to Fierce Network , Verizon plans on selling 274 company-owned retail stores. In addition to selling a large number of stores, it will also cut around 500 corporate jobs. The restructuring Verizon will go through is expected to affect about 3,000 jobs, with 2,500 of those jobs being retail-related.