Another wave of job eliminations at Verizon will be disclosed Thursday morning, based on information from an employee familiar with the matter. The company has not disclosed how many positions will be impacted.
Shares of VZ closed Tuesday’s session at $42.28, representing a 0.9% decline.
Verizon Communications Inc., VZ
The upcoming workforce reduction continues a strategic initiative CEO Daniel Schulman has pursued since assuming leadership in October 2025. Aggressive cost-cutting remains a cornerstone of his operational strategy.
Verizon implemented its most significant workforce reduction ever in November 2025, eliminating 13,000 positions. Additional job cuts occurred in May 2026. By the conclusion of 2025, the company’s workforce stood at 89,900 employees.
During a January earnings conference call, Schulman outlined Verizon‘s goal of achieving $5 billion in operational expense reductions throughout 2026, with workforce reductions accounting for a “substantial portion” of those savings.
During an internal employee webcast last December, Schulman delivered a frank message: “If we don’t have enough money to put back into our value proposition to customers, we are going to continue to shrink.”
He acknowledged that customer satisfaction metrics were “not great” and highlighted the company’s market share erosion over the preceding five-year period.
Tuesday also brought a downward revision from BNP Paribas Exane, which reduced its VZ price target from $46 to $44 while maintaining its neutral outlook. The revised target suggests approximately 4% potential upside from current levels.
The overall Wall Street sentiment remains cautious. Nine analysts maintain Buy recommendations, while twelve hold neutral positions. The average consensus target price stands at $50.28.
Citigroup leads the bullish camp, having raised its target to $55 with a Buy rating in March. Morgan Stanley maintains an equal weight stance with a $50 price objective.
Verizon’s latest quarterly performance showed earnings per share of $1.28, surpassing the Wall Street consensus of $1.21. However, revenue reached $34.44 billion, falling marginally short of the $34.82 billion analyst projection.
Topline revenue increased 2.7% compared to the prior-year quarter. Management’s full-year 2026 EPS forecast ranges from $4.95 to $4.99.
During the first quarter, Verizon secured a net gain of 55,000 postpaid phone subscribers, exceeding market expectations.
Earlier in 2026, Verizon finalized its $20 billion purchase of Frontier Communications. Certain Frontier workers received four-year protection from involuntary termination as a condition of regulatory clearance for the transaction.
The telecom giant also introduced a simplified flat-rate “Simplicity plan” last month and has integrated artificial intelligence into customer service operations to reduce expenses and enhance service quality.
Planned capital spending for 2026 is projected between $16 billion and $16.5 billion, representing a decrease from prior years.
On a total return basis, VZ stock has advanced 9% year-to-date, slightly underperforming the S&P 500’s 10.5% gain during the same timeframe.
The company’s second-quarter financial results are scheduled for release on July 24.
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