Verizon rises; announces store sale, job cuts

Verizon Communications

16/07/2026 18:43

** U.S. wireless carrier Verizon Communications VZ.N shares rise 2.6% to $43.95
** VZ says it will sell 274 company-owned retail stores and cut about 500 corporate jobs as part of restructuring
** Moves will affect about 3,000 retail and corporate employees
** VZ to own 1,000 stores after the sale, effective August 16
** Co sold 179 company-owned retail stores in November as part of its restructuring
** VZ eliminated several hundred jobs in May after announcing plans in November to cut more than 13,000 jobs
** Including session move, stock has risen ~8% this year
     

(Reporting by Prathik Jayapraksh in Bengaluru)
((Prathik.Jayaprakash@thomsonreuters.com))