The Verizon Guy, (real name Paul Marcarelli), is being let-go from the company. It isn't anything negative that he has or hasn't done... apparently, Verizon is going to be taking their new ad campaign in a different direction. He has been under a strict contract not to discuss anything regarding his ad campaign outside of Verizon. He will still be kept on for a while to do some unspecified work, but he will no longer be the "Can you hear me now?" guy.
He was informed of this via email last September, but he isn't too broken up about it, since he has made a lot (amount undisclosed) of money from it. Also, his fame in the "role" has been a double-edged sword. He recounts one moment at his grandmother's funeral while she was being lowered into the ground, someone said "Can you hear me now?"
He isn't bitter about anything, however, and had this to say about continuing a career in acting,
"There’s a price to pay,” Marcarelli says of his Verizon years. “Don’t feel bad for me, but I’m definitely glad that chapter is over. Most people my age are now trying to trade in their street cred for money, and I kind of made my money. I still want to make something of value.”
Source: Engadget and TheAtlantic.com