US carrier Verizon is planning to cut around 15,000 jobs, with layoffs starting in the next week.

As reported by the Wall Street Journal, Verizon is pushing to reduce costs amid increased competition for both wireless service and home Internet customers.

The company, which as of February had 100,000 employees, is expected to carry out the majority of cuts through layoffs. Over the last three years, 20,000 jobs have already been lost at the telco. Only 10 years ago, this number was 177,000 people.

Verizon also plans to transition about 200 stores into franchised operations, shifting employees off its payroll.

The layoffs are the largest ever in Verizon's history, and come fresh off the back of CEO Dan Schulman taking the helm last month. His appointment came largely as a shock to the industry when he replaced long-term CEO Hans Vestberg.

Fierce Wireless separately reported that Verizon is cutting 20 to 25 percent of jobs at its 5G Acceleration (5GA) team.

DCD has contacted Verizon for comment.

Full reboot in action already?

It comes a fortnight after Schulman, formerly CEO at PayPal, called for a "full reboot" at the carrier, while previously teasing his appetite for AI.

"We will be a simpler, leaner, and scrappier business. This work is overdue and will be multi-year and an ongoing way of life for us," said Schulman in last month's earnings call.

"I am a strong believer in the growing power and resulting opportunities created by AI. We have barely scratched the surface of how AI-powered innovation can transform our customer experience," he added.

Verizon's mobile customer base has taken a hit in recent months, with the carrier posting losses for three consecutive months for postpaid phone subscribers. During Q3, the telco lost 7,000 postpaid customers.

While announcing his first earnings report, Schulman noted that he wanted to "delight" Verizon's customers, as part of a shift from being a technology-centric company to a customer-centric business.

Verizon is currently in the process of acquiring fiber provider Frontier Communications for $20 billion, a move that will significantly bolster its fiber footprint, which is a key battleground for the telco against its rivals AT&T and T-Mobile.

However, earlier this week, Bloomberg reported that Verizon is looking to raise $10bn in corporate bonds to help fund the acquisition.

Verizon isn't the only company looking to cut workforce numbers in the US. Cable giant Comcast is planning to cut jobs as part of plans to centralize operations and boost its broadband business, with cuts expected to impact its Xfinity Internet, mobile, and pay television business.

Earlier this year, UScellular notified regulators of plans to lay off more than 4,000 jobs across the US as the regional carrier sold off key wireless operations to T-Mobile and pivoted to a tower infrastructure business model.

Meanwhile, last month private 5G firm Celona confirmed plans to cut 20 percent of its global workforce.