As a 14 year Verizon employee on the retail side, I never thought it would happen, either. Never ever assume that your job is safe with Verizon. I saw three different layoffs in retail during my 14 year period. They “eliminate the position”, re-create the position with a different title...Whatever it takes to eliminate people with seniority and high pay in order to cut costs.
When they re-create the position, they will hire someone in at a substantially lower salary. Always keep the mindset that it can happen to you tomorrow and prepare yourself financially for when it does.
You will get a severance package, but you will not find another job with that kind of pay and benefits.