Verizon will be eliminating 1,000 jobs by offering buyouts to employees, according to a Bloomberg report.

The report cites an unnamed source who says the carrier intends to complete the cuts by the end of the year.

“We are always looking for ways to make the business more efficient,” the company said in an email, reiterating the statement it gave to Bloomberg.

With a workforce totaling about 178,000, Verizon would be cutting less than one percent of its positions, as the report points out.

That’s relatively small in comparison to the cuts competitor Sprint has made in the past few years.

Last week Sprint CEO Marcelo Claure announced the company would be eliminating another 2,000 positions. As the Kansas City Star points out, the new cuts will reduce Sprint’s workforce to 29,000, down from 39,000 at the end of 2012, meaning the carrier has effectively cut one out of every four jobs in the past two years.