Brace yourselves!
https://www.lightreading.com/ai-machine-learning/at-t-and-verizon-normalize-layoffs-as-8-000-jobs-go-in-a-quarter
3 replies (most recent on top)
I don't think you read the article. Here is a summary:
AT&T and Verizon collectively cut 8,000 jobs (nearly 4% of their workforce) during the third quarter of 2026, continuing a long-term trend of severe downsizing.
Key points from the report include:
• The AI Myth: Despite predictions by Verizon CEO Dan Schulman that artificial intelligence could drive massive unemployment and transform workforce dynamics, there is little to no evidence that AI is responsible for these layoffs or currently driving significant productivity boosts.
• Root Causes: The job cuts are driven by traditional cost-cutting measures, including the elimination of middle management, heavier reliance on external contractors, exiting non-core businesses (like TV), closing physical retail stores, and standard automation.
• Diminishing Financial Return: Despite shrinking their headcounts dramatically over the last five years—Verizon by 17% and AT&T by 28%—the financial savings have largely been eroded by wage inflation, outsourcing costs, and severance packages. Total operating expenses have actually risen slightly or stayed flat compared to five years ago.
• Historical Scale: Since 2020, the combined workforce of both telecom giants has lost 142,460 positions. Together, they now employ fewer people (roughly 220,500) than AT&T alone did in 2020.
The “axeman” cometh.
We need to right size to merge if Starlink is entering the market.