Verizon Cuts Nonunion Workforce 20% in Cost-Slashing Campaign

Verizon Communications Inc. announced wide-ranging layoffs Thursday that will shrink the company’s nonunion workforce by as much as 20%, a major step in a turnaround plan led by new Chief Executive Officer Dan Schulman.

The largest wireless carrier in the US gave notice that it will begin by cutting more than 13,000 employees, according to an open letter that Schulman sent to employees. Schulman, lead independent director at Verizon, was named to the top job last month after two consecutive quarters of subscriber losses and lackluster stock performance. He’s promised a “simpler, leaner and scrappier” business.