VZ · 10-Q · 2026Q2 · Full report

Headcount / Restructuring

VERIZON COMMUNICATIONS INC · 2026-07-31 · Importance 44 · Surprise 42 · Matches filing data

Verizon recorded $397 million of pre-tax severance charges in the first six months of 2026, principally for employee separations under workforce reduction initiatives. Workforce reduction initiatives reduced personnel costs in selling, general and administrative expense by $139 million in the second quarter and $294 million year to date. Verizon also recorded $258 million of pre-tax asset rationalization charges in both the quarter and six-month period, primarily for ceasing use of real estate and network assets under transformation initiatives. Acquisition and integration charges related primarily to Frontier totaled $135 million in the quarter and $396 million year to date, inclusive of acquisition-related severance.

Key facts

• Selling, general and administrative expense consolidated for the three months ended June 30, 2026: $8,982 million, an increase of $1,170 million (15.0%) compared to $7,812 million in 2025; the increase included a $746 million net loss on classification of assets held for sale and $397 million of severance charges related to workforce reduction initiatives. source
• Pre-tax severance charges of $397 million were recorded during the three and six months ended June 30, 2026, exclusive of acquisition related severance charges. source
• Selling, general and administrative expense decreased primarily due to a decrease of $139 million for the three months and $294 million for the six months in personnel costs related to workforce reduction initiatives. source

Impact estimates