Verizon CEO Hans Vestberg says that despite a small increase in headcount, job cuts will continue.
By Alan Friedman Published: Jul 23, 2025, 7:58 PM
Verizon CEO Vestberg says that Verizon will continue to cut its workforce
Vestberg told the analyst, ""The headcount – we have been very, very good, and it's going down all the time. So we have been very efficient in managing our resources."
Supino might have asked Vestberg about Verizon's hiring plans because of a slight increase in the headcount last quarter sequentially. But Vestberg's response was to indicate that Verizon is still in cost-cutting mode
With the $20 billion acquisition of broadband provider Frontier Communications about to close soon, Verizon has discussed synergies that it hopes will result in annual cost reductions of $500 million of more annually. The savings come from eliminating duplicate operations and jobs. Some of the jobs lost will come from the Frontier side, which is not such a shock considering that the company has laid off 5,300 people over the last four years reducing its headcount by 29% over those years.
That Verizon is more efficient now cannot be denied. In 2012, a year we discussed earlier in this article, Verizon took in $631,000 in revenue per employee. This has risen to $1.35 million in revenue generated by each Verizon employee.