Verizon has announced the largest layoff in its history, cutting approximately 13,000 jobs, about 13% of its total workforce, under new CEO Dan Schulman.This restructuring involves converting 179 company-owned stores into franchises and closing one, following a $20 billion acquisition of Frontier Communications to boost AI and smart device capabilities.Schulman emphasized a simpler, customer-focused company culture and established a $20 million Reskilling and Career Transition Fund to support impacted employees.