The store transfers will take effect on Aug. 16, 2026, as Verizon shifts more locations to authorized retailers while retaining about 1,000 company-owned stores.
Verizon plans to cut about 3,000 jobs as it sells 274 stores to authorized retailers in a broader restructuring aimed at lowering operating costs. The transfers are set to take effect on Aug. 16, 2026, with the affected roles comprising roughly 2,500 retail positions and 500 corporate jobs. Verizon will retain about 1,000 corporate-owned stores after the move, while its authorized retailer network stands at around 5,000 outlets. The restructuring follows a November 2025 divestiture of 179 corporate-owned stores to franchise operators and comes after Verizon cut 13,000 employees in November 2025 and hundreds more in May 2026.