Verizon Separation Plan Sheds Almost 7 Percent of Employees as 5G Restructuring Begins to Take Hold

A Verizon separation plan will reduce the company’s payroll by 10,400 employees, almost 7 percent of its workforce. The plan was announced earlier in 2018 and the reductions are part of a voluntary program to reduce Verizon’s headcount as they embark on a 5G focused restructuring. Since recently taking over the CEO helm, Hans Vestberg has embarked on a restructuring of the company, with a focus on seizing the 5G opportunity and reducing Verizon’s emphasis on legacy services.