U.S. wireless carrier Verizon announced Thursday that it will lay off more than 13,000 employees, marking the company’s largest single reduction in its workforce, as part of efforts to reduce costs and restructure operations, News.Az reports, citing Reuters. 

Verizon on Wednesday reported quarterly profit and wireless subscriber additions that exceeded Wall Street expectations, as promotions tied to recent iPhone launches helped the U.S. telecom giant attract more customers.