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The Pentagon said Iran War costs $29 billion, but the real cost is closer to $200 billion—and counting

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Now worth $200 million, Sarah Jessica Parker credits being ‘one of eight kids that struggled financially’ for her hunger, ambition, and work ethic

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After forcing workers back to the office, Goldman Sachs and JPMorgan Chase are now letting their staff work remotely—but only for the World Cup

1

The Pentagon said Iran War costs $29 billion, but the real cost is closer to $200 billion—and counting

2

Now worth $200 million, Sarah Jessica Parker credits being ‘one of eight kids that struggled financially’ for her hunger, ambition, and work ethic

3

After forcing workers back to the office, Goldman Sachs and JPMorgan Chase are now letting their staff work remotely—but only for the World Cup
LawVerizon Communications

Verizon offers $20 account credits for 1.5 million customers outraged by mysterious 10-hour-long service outage. Here’s how to get the credit

By
Eva Roytburg
Eva Roytburg
Fellow, News
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By
Eva Roytburg
Eva Roytburg
Fellow, News
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January 15, 2026, 10:33 AM ET
A Verizon store in New York, US, on Wednesday, Jan. 14, 2026.
A Verizon store in New York, US, on Wednesday, Jan. 14, 2026. Michael Nagle/Bloomberg via Getty Images
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Verizon says it will offer $20 account credits to 1.5 million customers affected by a widespread network outage that left users without service for up to 10 hours Wednesday, even as the company continues to be cryptic about what actually caused the outage. 

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In a statement to Fortune Wednesday, the communications giant acknowledged the scale of the failure and apologized to customers, calling the outage a lapse in its own standards.

“Yesterday, we did not meet the standard of excellence our customers expect and that we expect of ourselves,” a Verizon spokesperson told Fortune. The company said affected customers can redeem the $20 credit through the MyVerizon app, noting “on average, this covers multiple days of service.” Business customers, Verizon added, will be contacted directly about credits.

Verizon stressed the credit was not intended to be full compensation for the outage—”no credit really can” make up for it, they wrote. But they encouraged customers still experiencing problems to restart their devices in order to reconnect to the network. 

Despite the apology, Verizon did not say whether the outage stemmed from a technical failure or a broader systems issue, fueling speculation and frustration online. 

One widely shared post on X featured a user threatening to cancel their Verizon plan outright. 

“[T]hey can have this phone back,” the user wrote in a post that racked up more than 1 million views.

Rival carriers were quick to seize the moment. AT&T replied directly to the post, promoting its wireless free-trial program. The original poster responded minutes later asking for help switching plans.

Data from Downdetector showed a sharp spike in outage reports beginning early Wednesday and persisting throughout the day, with the highest concentration of complaints coming from major metro areas including New York City, Atlanta, Houston, Dallas, and Philadelphia. Roughly 60% of reported issues involved mobile-phone service, followed by loss of signal and mobile internet disruptions.

The outage also arrives just months after Verizon announced the largest layoffs in its history. In November 2025, the company said it would cut roughly 15,000 jobs as part of a restructuring effort. Verizon CEO Dan Schulman said at the time the reductions were necessary to reduce “complexity and friction that slow us down and frustrate our customers.”

It remains unclear whether the workforce reductions had any role in Tuesday’s outage or the company’s ability to resolve it quickly.

The Fortune 500 Innovation Forum will convene Fortune 500 executives, U.S. policy officials, top founders, and thought leaders to help define what’s next for the American economy, Nov. 16-17 in Detroit. Apply here.
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By Eva RoytburgFellow, News
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