Verizon plans a harsh change after major customer losses

Verizon is facing a critical juncture as it grapples with substantial customer losses, prompting plans for a harsh change. Following dissatisfaction from the board regarding CEO Hans Vestberg's network-first strategy, his successor is expected to implement major cost cuts. Reports indicate that Verizon may cut approximately 15,000 jobs as part of its efforts to stabilize the company. These drastic measures reflect a broader trend in the telecommunications industry, where companies are increasingly focused on reducing operational costs to retain customers and improve profitability.