If the rumors are correct, Verizon’s ‘bold’ new direction may apparently include mass layoffs

Last week, I wrote an opinion about the current state of Verizon, as well as some of the moves it might need to make to right the ship. I also mentioned it seemed obvious that store closures would be part of this process and that Verizon’s situation would likely get worse before it got better. It seems this may be happening sooner rather than later, as rumors of imminent closures are flying around on online communities like Reddit and The Layoff. Likewise, a few publications have also picked up on the rumors, such as Phone Arena.

Is there any truth to the rumors, and if so, how big a cull are we talking about? I decided to dig into the online chatter and speak with a few trusted sources familiar with Verizon’s retail business to see if I could learn more.

First, it’s important to be clear about this: none of the people I spoke to had specific details, only reports from their managers suggesting layoffs are on the way and likely to be announced on November 20. These cuts will reportedly include both complete store closures and staff reductions in locations that remain open. I also learned of an internal email from the new CEO late last month stating that the company will take “bold actions to make the company leaner,” which was similar to the remarks made during the company’s last earnings call. Like the previous call, the email offered no specifics.

From what little has surfaced, Verizon is expected to close underperforming corporate locations while “optimizing” those that stay open. The total number of affected stores remains unknown. There are also rumors that AI automation will play a larger role in the surviving stores, allowing them to operate with smaller staffs. For those unaware, this sounds somewhat similar to T-Mobile’s recent in-store changes that rely on T-Life.

Verizon has already embraced AI, so this part of the rumor isn’t all that surprising.

Earlier this summer, the company unveiled Project 624, an overhaul of its customer service using AI to streamline the experience. It also introduced an automated shopping tool that attempted to upsell me during a recent line addition for my son. Based on that, I’m skeptical that AI-driven retail changes will do anything other than accelerate the decline of Verizon’s brick-and-mortar business.

Further changes beyond closures and automation are possible, but we’ll have to wait until later in the month to know more. It’s also important to remember this is all rumor for now, and is subject to change.