Verizon has fallen behind to second place in the competitive wireless market, prompting new CEO Daniel Schulman to take swift action in an effort to stabilize the company. While Schulman has implemented various strategies during his initial months, many believe these efforts have yet to produce the turnaround Verizon desperately needs.
Leadership Still Faces Skepticism
Despite Schulman’s attempts to guide Verizon forward, a recent survey of 1,530 readers revealed strong doubts about the company’s trajectory under his leadership. An overwhelming majority—1,201 respondents (78.5%)—believe Verizon is not headed in the right direction. Only a small fraction, 115 respondents (7.5%), expressed confidence in Schulman’s leadership, while 214 (14%) remained undecided.
Is Verizon moving forward with Schulman at the helm?
7.8% say “Yes, if we take his words at face value.”
14.0% say “Maybe.”
Total votes: 1,560
Similarly, when asked if Verizon is “back on track,” 890 out of 1,237 respondents (72%) disagreed, with only 50 people (4%) convinced the company was regaining momentum. Nearly a quarter (24%) preferred to wait for Q4 financial results before forming an opinion.
Is Verizon truly back on track?
3.9% answered “Apparently.”
23.9% answered “We’ll find out after Q4 results.”
Total votes: 1,262
Challenges from Past Leadership and Current Strategy
Verizon’s struggles can be traced back to missteps during former CEO Hans Vestberg’s over seven-year tenure. Vestberg’s network-first approach and strategic errors resulted in the carrier losing ground to competitors like T-Mobile. Thus, when Schulman took charge, Verizon was already facing declining market share and a damaged reputation.
Though Schulman cannot fix the situation overnight, there are growing concerns that some of his foundational decisions may not be addressing core issues. His approach to reducing costs included laying off approximately 13,000 employees, a move intended to funnel resources toward initiatives that boost customer value. However, critics point out that these layoffs impact just a small portion of Verizon’s annual budget, questioning the overall effectiveness of this tactic.
Meanwhile, the company’s aggressive holiday promotions, though popular with consumers, have raised eyebrows among analysts as potentially resulting in financial losses. These “half-hearted measures” seem insufficient to reverse customers’ growing willingness to consider other options.
Looking Ahead: The Path to Recovery
Verizon’s recent layoffs also hint at a shift toward more disciplined capital spending—acknowledging that simply increasing spending does not guarantee solutions. As T-Mobile continues to rack up wins, Schulman’s task remains daunting. Still, with his extensive experience, many believe he has the capability to steer Verizon back to prominence. Nevertheless, the road ahead will require patience, innovation, and decisive action to regain customer trust and market leadership.
