Verizon is reportedly set to slash thousands of jobs across its corporate operations and the sale of hundreds of company-owned stores, moves that continue CEO Dan Schulman’s overhaul of the telecom giant’s operations.

Reuters is reporting that around 500 corporate jobs are being eliminated as part of a restructuring and that 274 corporate-owned stores are being sold, which in total will impact around 3,000 employees. The report indicated that the carrier informed employees in a note that it was working with retail franchise owners that currently operate 5,000 outlets "to elevate the experience in every ​one of their locations because we know how important they are ​to our overall customer experience."

A Verizon spokesperson in an email confirmed the Reuters numbers, adding that the corporate-owned stores would be "transitioning" to "franchise locations," and "about 70 percent of those retail locations typically "accept positions at the new franchise locations."

The latest cuts are labeled as "part of our ongoing transformation" and the latest under Schulman, who in just under a year, has implemented significant cost-cutting programs across the carrier. This includes an initial move to slash 13,000 jobs, which was completed at the end of Verizon’s fiscal first quarter of this year and came with a $2 billion price tag, and a more recent round of cuts.

One of Schulman’s first moves was to implement a cost-cutting program that included slashing 13,000 jobs. Those cuts, which came with a $2bn bill, were completed as of the end of Verizon’s first fiscal quarter of this year, and were followed by another round of cuts in May that reportedly impacted staff in its headquarters in Basking Ridge, New Jersey.

Speaking at an investor conference shortly after those May job cuts were reported, Schulman did not directly mention that change but did note the carrier “had committed to $5 billion of opex cuts … that’s the smallest number that I want to see.”

Schulman previously stated that the carrier intends to utilize AI to boost efficiency following staff reductions.

“I intend to use AI as a key tool [to] simplify offers, improve the customer experience, and reduce churn through smart, consistent, and more personalized marketing and offers, and we will leverage AI throughout the company to make it easier for our employees to delight our customers and to dramatically improve service while reducing costs,” the CEO said in prior pre-prepared remarks.

Verizon is scheduled to report second-quarter earnings on July 24.

UPDATED: This story has been updated with more details from Verizon.