New Delhi, Nov. 20 -- US wireless carrier Verizon announced on Thursday it will lay off more than 13,000 employees in its largest single layoff as it works to shrink costs and restructure operations.

Verizon also said it plans to convert 179 corporate-owned retail stores into franchised operations and close one store.

Verizon's new CEO, Dan Schulman, said in a note to employees the company would reduce its workforce by more than 13,000 employees across the organization, and significantly reduce outsourced and other outside labor expenses.

(This is a developing story. Check back for updates)

Published by HT Digital Content Services with permission from MINT....