Verizon has been on a downward spiral this year after it frustrated its phone customers with a series of price increases rolled out over the past few months. During the third quarter of this year, Verizon lost 7,

Verizon is preparing about 15,000 layoffs, the largest in its history, as the new CEO works to cut costs and simplify the company.

Over the past few months, Verizon has landed in hot water for a number of pricing changes that it enforced, which resulted in higher monthly bills for its phone customers. As these price hikes rolled out throughout the year,

Schulman's appointment represents a new era for Verizon, which is pushing to expand its fiber plans. The carrier is currently pushing to complete its $20 billion acquisition of Frontier Communications, as the telco competes in this market with rivals AT&T and T-Mobile.

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