Verizon is cutting more than 13,000 jobs as it works to 'reorient' entire company

NEW YORK (AP) — Verizon is laying off more than 13,000 employees, as the telecommunications giant says it must “reorient” its entire company.

The jobs cuts began on Thursday, per to a staff memo from Verizon CEO Dan Schulman. In the letter, which was seen by The Associated Press, Schulman noted that Verizon's current cost structure limits the company's ability to invest — pointing particularly to customer experiences.