Verizon Communications plans to cut roughly 15,000 jobs in the coming week in its largest-ever round of layoffs, sources familiar with the matter told The Wall Street Journal (WSJ).

Verizon Communications is reportedly planning significant companywide job cuts, potentially eliminating 10,000 to 15,000 positions as part of new CEO

Verizon is planning to cut about 15,000 jobs in the telecommunications company’s largest-ever layoffs as part of a restructuring under its new CEO. Reuters reported the looming layoffs on Thursday, citing an unnamed person familiar with the matter.

Verizon Communications is preparing for one of the largest restructuring efforts in its history, with plans to eliminate around 15,000 jobs as the company grapples with mounting competitive pressure and declining subscriber numbers.

Verizon Communications, which has recently come under scrutiny due to its alleged role in the “Arctic Frost” probe, is set to slash roughly 15,000 jobs, the Wall Street Journal (WSJ) reported on Thursday.