Verizon to shed 274 stores, lay off another 500 corporate employees

U.S. wireless carrier Verizon said it will sell 274 company-owned retail locations and cut about 500 corporate jobs as part of its ongoing restructuring.

In total, the moves will impact about 3,000 retail and corporate employees. Verizon will own 1,000 stores after the sale effective Aug. 16. In May, Verizon eliminated several hundred jobs after announcing in November it was cutting more than 13,000 jobs in its largest single round of layoffs.