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Verizon to Sell 274 Stores and Cut 500 Corporate Jobs in Restructuring

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Verizon has announced a new restructuring initiative that includes the sale of 274 company-owned retail stores and the elimination of approximately 500 corporate positions, as the U.S. telecommunications giant continues to reshape its operations in an increasingly competitive wireless market.

The changes will affect roughly 3,000 retail and corporate employees, although Verizon expects many retail workers to remain employed under new franchise operators. Based on previous store transactions, the company said a majority of employees typically transfer to the businesses that acquire the locations.

Following the transaction, Verizon will directly operate about 1,000 company-owned stores, while relying more heavily on its network of approximately 5,000 franchised retail locations managed by independent operators.

The restructuring follows broader workforce reductions announced over the past year as Verizon seeks to improve operational efficiency while adapting to changing consumer behavior and mounting competitive pressure from AT&T and T-Mobile.

Competition within the U.S. wireless industry remains intense. Carriers continue offering aggressive device subsidies, discounted service plans, and expanded network investments to attract and retain customers in a market where subscriber growth has become increasingly difficult.

At the same time, Verizon has introduced simplified mobile plans, removed activation and upgrade fees, and launched a new customer loyalty program aimed at strengthening long-term customer retention.

The company is also preparing for future technological shifts. Earlier this year, Verizon joined AT&T and T-Mobile in forming a joint venture to develop satellite-based connectivity solutions for underserved rural areas, a move widely viewed as a response to the growing influence of satellite communications providers such as SpaceX’s Starlink.

The latest restructuring reflects a broader transformation across the telecommunications industry. Rather than expanding physical retail footprints, operators are increasingly prioritizing digital services, franchise partnerships, network modernization, and cost efficiency while preparing for next-generation connectivity technologies.

U.S. Senator Demands Telecom Firms Reveal Data Subpoena Details Linked to Jan. 6 Probe

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Republican Senator Marsha Blackburn has called on telecom giants AT&T, Verizon, and T-Mobile to disclose whether they received or challenged subpoenas for phone data belonging to eight U.S. senators, including herself, in connection with the Justice Department’s investigation into the January 6, 2021, Capitol riot.

The request follows the release of a 2023 document showing that the FBI obtained “toll records” — metadata including call times and durations — from lawmakers’ phones as part of Special Counsel Jack Smith’s probe into efforts by former President Donald Trump to overturn the 2020 election.

Verizon confirmed it complied with a valid grand jury subpoena and a court order to maintain confidentiality, saying it had “no knowledge of the investigation’s purpose.” Blackburn is pressing the companies to clarify whether the seized data came from lawmakers’ personal or official government devices.

Senator Bill Hagerty, another affected lawmaker, said he also demanded explanations from Verizon regarding his own phone records. The subpoenas reportedly covered calls made between January 4 and January 7, 2021.

The case stems from Smith’s now-dropped prosecution of Trump, which was suspended after his 2024 election victory. The Justice Department later cited its policy against indicting a sitting president, though Smith’s report stated the evidence gathered “would have been sufficient to convict.”

Federal Communications Commission Chair Brendan Carr said the agency would participate in efforts “to get to the bottom of what happened,” amid rising concerns about government access to lawmakers’ communications.

Comcast to cut jobs, streamline Xfinity unit in major reorganization

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Comcast is preparing to cut jobs at its largest business unit, which includes the Xfinity internet, mobile, and pay-TV services, as part of a restructuring to centralize operations and strengthen its broadband business, a source told Reuters.

Beginning in January, Comcast will eliminate a layer of management between its regional offices and corporate headquarters, meaning regional leaders will now report directly to a newly appointed executive overseeing national operations. While the company has not disclosed the number of roles affected, the restructuring is expected to reduce headcount.

In a memo to employees, Comcast said customer-facing teams, such as those in retail and customer service, will not be impacted. “This change is not a reflection of anyone’s contributions — it is about simplifying how we work so we can compete more effectively,” the memo stated.

The move continues Comcast’s long-term strategy of centralizing functions including marketing, legal, and finance. It has also standardized broadband pricing nationally and introduced new five-year price-lock plans to stem customer churn.

The cuts come as Comcast grapples with subscriber losses in its broadband business, facing mounting competition from wireless carriers such as AT&T, T-Mobile, and Verizon. The unit also oversees Sky, Comcast’s European brand, and remains central to the company’s connectivity strategy.