Verizon has confirmed plans to cut more than 13,000 jobs, marking its largest-ever workforce reduction as part of a significant restructuring initiative under new CEO Dan Schulman. The layoffs, which could affect up to 15,000 positions, are aimed at reorienting the company to improve agility and efficiency amidst cost-cutting measures. In addition to the layoff announcement, Verizon has set up a $20 million fund for reskilling laid-off employees in response to the challenges posed by advancements in technology, particularly in the age of AI. The decision comes as the company seeks to navigate financial difficulties and a changing market landscape.