Verizon layoffs, on the record
Every job cut, severance charge and restructuring Verizon reported in its annual reports, 2022 to 2025, quoted from the filings. Headcount went from approximately 117,100 to approximately 89,900.
Headcount, as reported
| Annual report | Employees | As of |
|---|---|---|
| 10-K for 2022 | approximately 117,100 | December 31, 2022 |
| 10-K for 2023 | approximately 105,400 | December 31, 2023 |
| 10-K for 2024 | approximately 99,600 | December 31, 2024 |
| 10-K for 2025 | approximately 89,900 | December 31, 2025 |
Job cuts, severance and restructuring
Our summaryVerizon recorded net pre-tax severance charges for involuntary separations under its existing plans in 2022.
Word for word“During 2022, we also recorded net pre-tax severance charges of $304 million, related to involuntary separations under our existing plans, in Selling, general and administrative expense in our consolidated statement of income.” 10-K for 2022
Our summaryVerizon recorded net pre-tax severance charges for voluntary separations under its existing plans in 2021.
Word for word“During 2021, we also recorded net pre-tax severance charges of $209 million related to voluntary separations under our existing plans in Selling, general and administrative expense in our consolidated statement of income.” 10-K for 2022
Our summaryVerizon recorded severance charges in 2023 mainly for involuntary separations under its existing plans.
Word for word“During 2023, we also recorded net pre-tax severance charges of $533 million, primarily related to involuntary separations under our existing plans, in Selling, general and administrative expense in our consolidated statement of income.” 10-K for 2023
Our summaryVerizon announced a voluntary separation program for select U.S.-based management employees, with about 4,800 eligible employees leaving by the end of March 2025.
Word for word“In June 2024, we announced a voluntary separation program for select U.S.-based management employees.” 10-K for 2024
Our summaryVerizon recorded severance charges for its voluntary separation program for select U.S.-based management employees and other headcount reduction initiatives.
Word for word“During 2024, we recorded pre-tax severance charges of $1.7 billion, related to separations under our voluntary separation program for select U.S.-based management employees as well as other headcount reduction initiatives.” 10-K for 2024
Our summaryVerizon recorded a charge to cease use of certain real estate assets and exit non-strategic parts of some businesses as part of its transformation initiatives.
Word for word“During 2024, we recorded a pre-tax asset and business rationalization charge of $374 million predominately related to the decision to cease use of certain real estate assets and exit non-strategic portions of certain businesses as part of our continued transformation initiatives.” 10-K for 2024
Our summaryVerizon reported that over 13,000 employees separated under its 2025 workforce reduction initiative, with net severance charges recorded.
Word for word“More than 13,000 employees separated from Verizon under this initiative, with the majority of these employees having exited through December 31, 2025.” 10-K for 2025
Our summaryVerizon recorded asset and business rationalization charges tied to ceasing use of certain real estate and exiting non-strategic parts of businesses as part of transformation initiatives.
Word for word“During 2025 and 2024, we recorded pre-tax asset and business rationalization charges of $583 million and $374 million, respectively, predominately related to the decision to cease use of certain real estate assets and exit non-strategic portions of certain businesses as part of our transformation initiatives.” 10-K for 2025
| Fiscal year ended | Severance costs |
|---|---|
| 2016-12-31 | $421 million |
| 2017-12-31 | $497 million |
| 2018-12-31 | $2.16 billion |
| 2019-12-31 | $204 million |
| 2020-12-31 | $221 million |
| 2021-12-31 | $209 million |
| 2022-12-31 | $304 million |
| 2023-12-31 | $533 million |
| 2024-12-31 | $1.73 billion |
| 2025-12-31 | $1.72 billion |
Verizon has filed no restructuring notice (Form 8-K, Item 2.05) since 2016. Companies file one only for a cut they judge material, so many announced layoffs never appear as one. This page shows what the company reported to the SEC, not news reports or state layoff notices.
Read from Verizon’s annual reports (10-K for 2025, 10-K for 2024, 10-K for 2023, 10-K for 2022) and the financial data it files with the SEC, as of 2026-02-17. Every quotation is word for word from the filing linked beside it; how these pages are built and checked. The full record is in its company data sheet.