Verizon is at an inflection point
In a report detailing the ouster of former CEO Hans Vestberg, WSJ chronicles Schulman’s selection to lead the company and his transformation plan.Formerly the chief executive officer of the telecom-equipment company Ericsson, Vestberg pursued a network-first strategy. Verizon‘s board, on the other hand, was more interested in faster customer growth.
Far from growing the customer base, under Vestberg, Verizon had been losing customers. The carrier shed customers during the first and second quarters, and the third quarter was going to be no different. Before letting matters deteriorate further, the board chose Schulman, who was at that time one of the company’s directors, to take over in October. That’s also when board member Mark Bertolini was elected chairman.
That was an abrupt decision, and a total departure from the multiyear process that led to Vestberg being installed at the post. Schulman wants to make major changes and isn’t afraid to make hard decisions. He wants to cut down on red tape and make Verizon fiercely determined. The first such decision is going to be a layoff affecting around 15,000 of the 100,000 people the company employs.
Schulman wants Verizon to pivot from putting network engineering first to being obsessed with customers. It’s worth mentioning that Verizon isn’t the de facto network leader anymore, with Bertolini admitting that the network isn’t as differentiated as it used to be.
Schulman has nonetheless praised Vestberg for bringing the network up to par, but stated that the next phase was customer orientation.
The company has been losing market share, and Schulman is determined to stop that. He doesn’t want to resort to price cuts to achieve that, and will instead explore other ways to create value for subscribers.
Schulman has until 2027 to make Verizon bounce back, which explains why he is moving fast.
I’m not afraid at this point in my life to make really hard decisions.
Daniel Schulman, Verizon CEO, November 2025
Price increases are what got Verizon here
Verizon is the most expensive carrier. While high prices felt justified when it had a clear lead over rivals, with its leadership eroded, it can’t continue charging more than competitors anymore.Verizon was under the illusion that high-value customers, or those unbothered by price changes, would help make up for those lost to hikes. However, as the three consecutive quarters of losses has taught it, it can no longer afford to keep losing customers.The carrier is not just competing with AT&T and T-Mobile. Cable companies that offer low-priced plans have also emerged as a huge threat.
While Schulman has identified the root cause of the company’s woes, his reluctance to cut prices might cost Verizon more customers.
Don’t underestimate Schulman
Verizon seems to have three main problems right now. It’s no longer the undisputed network leader. Its customer service has gone down. And, its prices are too high.
Schulman is, perhaps, doing the wise thing by initially focusing on improving the value perception over immediate price cuts. Verizon recently launched a host of offers to woo customers, but the success of these measures in offsetting high prices remains to be seen.
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