Verizon outlined plans to cut more than 13,000 jobs as part of a wider restructuring effort, while naming former Singtel and PayPal executive Alfonso Villanueva as its EVP and chief transformation officer.

The job cuts will begin from today, with the programme designed to significantly reduce the operator’s outsourced and other outside worker costs.

In a letter to employees, CEO Dan Schulman explained current cost structures limit its ability to invest significantly in its “customer value proposition” and it is reorienting the entire company.

Verizon added it established a $20 million reskilling and career transition fund for departing employees focused on skills development, digital training and job placement.

Schulman said it is the first company to set up a fund “to specifically focus on the opportunities and necessary skill sets as we enter the age of AI”.

Verizon had around 100,000 US employees at the end of 2024.

Transformational
Villanueva’s role is effective from today (20 November), with Schulman pointing to more than two decades of leadership in strategy, corporate development, transformation, data science and innovation across technology and financial services companies.

A middle-aged man with short gray hair wearing a dark suit jacket over a white button-down shirt stands against a plain, light gray background, looking directly at the camera with a neutral expression.

Notably, Villanueva (pictured, left) worked with Schulman at PayPal, serving as EVP of Strategy, Corporate Development and Data Science.

Most recently, the executive led technology investment company Albar Court Ventures.

Earlier in his career, he had a stint as CIO of Singtel, where he helped launch its digital division and venture fund.

As part of an ongoing push into AI, automation and digital acceleration, Schulman said Villanueva will be charged with heading up a new Transformation Organisation.

The division will house the Strategy, Corporate Development and Partnerships team, Data Analytics and AI team, and the Supply Chain, Sourcing and Sustainability team.