B severance charge in Q3 due to voluntary separation program. Plans to downsize employees and discontinue assets/businesses.

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Verizon will reduce its headcount by close to 5,000 people while taking a charge of close to $2 billion during Q3.

Verizon is about to begin the layoff of about 5,000 employees amid a deep business rationalization. More details here.

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Verizon has a new trade in policy starting with the iPhone 16 for existing customers that has lead to some confusion.

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Verizon on Thursday said it expects to record a severance charge in the range of $1.7 billion to $1.9 billion in the third quarter as a result of a previously announced voluntary separation program.