Verizon to Cut 3,000 Retail Jobs, Shift Stores to Franchise Model Amid AI Integration

Verizon is set to reduce its workforce by about 3,000 employees from corporate-owned retail stores and will transition 274 locations to independent franchise operators. These changes will take effect starting August 16, resulting in Verizon maintaining around 1,000 company-owned stores alongside approximately 5,000 franchised outlets. The move reflects the company's adaptation to AI-driven customer service and a strategic shift in store management.