Verizon Stock (VZ) Falls on Reports of Staff Cuts

The stock of Verizon (VZ) is down on July 14 amid reports that the telecommunications giant is preparing to undertake a new round of employee layoffs.

Verizon, which specializes in wireless internet, is looking to reduce costs under new CEO Daniel Schulman, who has made cost savings a priority since he took the helm of the company last October. In November 2025, Verizon cut 13,000 jobs, the company’s largest ever layoff.

The exact number of layoffs in the new round of job cuts isn’t known. Verizon ended 2025 with 89,900 employees worldwide. The largest U.S. wireless carrier will reportedly announce the new job cuts on July 16. Under Schulman’s leadership, Verizon has set itself the goal of saving $5 billion in operating expenses this year.

The new CEO said has said that a “substantial portion” of the cost savings will come from head count reductions across the company.

VZ Stock Performance

Schulman is seeking to right the ship at Verizon after recent customer satisfaction scores turned out to be “not great,” and the company has steadily lost market share in the U.S. over the past five years. Last month, Verizon launched a flat-rate “Simplicity Plan” to try and win over customers.

Verizon has announced capital expenditures of $16 billion to $16.5 billion this year, and recently closed its $20 billion acquisition of broadband provider Frontier Communications. Verizon is scheduled to report its second-quarter financial results on July 24. VZ stock has risen 10% this year, although the share price is down 25% over the past five years.

Is VZ Stock a Buy?

Verizon’s stock has a consensus Moderate Buy rating among 16 Wall Street analysts. That rating is based on five Buy and 11 Hold recommendations issued in the last three months. The average VZ price target of $49.89 implies 18% upside from current levels.