Verizon to Cut About 3,000 Jobs and Divest Some Retail Stores

Verizon Communications is implementing a workforce reduction of approximately 3,000 employees and plans to divest 274 of its retail stores to franchise owners. This strategic move aims to maintain a core of at least 1,000 corporate-owned stores for the next three years, with the layoffs primarily affecting retail staff but also including about 500 corporate employees.