Microsoft and Verizon are out of business for the third time this year.
Microsoft’s latest losses have left the Redmond, Wash.-based tech giant scrambling to stay afloat amid the latest round of wireless outage and a potential return to normalcy for millions of users.
The latest round is also expected to bring Verizon a new lease on life as its largest wireless carrier.
Verizon, which has been struggling to survive since the iPhone 7 launched in June, had to cut its workforce to about 1,300 employees, or just under half of what it had in May.
The company also announced plans to cut staff by another half of its 1,800 workers as the second quarter comes to a close.
The losses also put Verizon at a disadvantage compared to competitors, like Sprint, which reported a net loss of $4.8 billion in the first quarter.
The biggest losers for Verizon were those who use its unlimited plans.
Verizon said the company’s 4G LTE network fell to about 80% capacity in the third quarter.
It is trying to keep users connected to the network as it attempts to recover from the effects of a power outage earlier this month.
Verizon has said it will cut about 500 workers from its network to reduce costs.
The company has also said it is considering cutting its workforce by more than 3,000 employees, though those cuts are not expected to come until the second half of the year.