Verizon layoffs add to mounting toll across large companies

Thousands of workers have seen their jobs eliminated this fall at large companies including Amazon (AMZN), UPS (UPS), Nestlé (NSRGY), in an economy defined by uncertainty, AI, and global tensions.

The latest: 15,000 cuts at Verizon, to be done mostly through layoffs, the Wall Street Journal reported Thursday. It would be the carrier’s largest downsizing ever, affecting about 15% of its workforce.

The Journal cited sources who said the company aims to cut costs in the face of increased competition for cell and home internet customers.

The news follows announcements from major employers of thousands of job cuts. UPS said in its third quarter earnings results that it had cut its “operational workforce by approximately 34,000 positions” in the first nine months of the year as it looked to be more efficient, while about 14,000 positions, primarily in management, had also been eliminated.

Target (TGT) has plans to axe 1,800 corporate roles, while Paramount Skydance…