Verizon blames government spending cutbacks for its poor phone subscriber numbers

Verizon reported a larger drop in postpaid monthly phone subscribers than expected

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• Verizon's postpaid monthly phone subscribers fell more than expected.
• The company partly blamed federal government cuts for the larger-than-anticipated subscriber drop.
• Some company executives have expressed fear that DOGE's efforts will harm their bottom lines.

Verizon lost more phone subscribers than expected in the first quarter — and said cuts to the federal government are partly to blame.