Verizon reshuffles corporate venture arm leadership amid companywide cost-cutting efforts

The narrative of cutbacks and layoffs across the SaaS tech sector continues. The momentum appears to be affecting another related sector, telecom. Verizon’s CEO announced in their last earnings call, they implemented a company-wide cost-savings program that we expect will save between $2 billion to $3 billion annually by 2025,” and said he continued to work to grow revenue and reduce expenses. This cost-cutting will have casualties, and layoffs, which will trickle down to tenants and even small real estate investors for working in these companies. The question for landlords and PMs is, how are these announcements affecting your business? More importantly, what is your strategy to minimize vacancies?