#company

With Schwab I realize background check is needed for employment. After employment, are background checks continuous or is it only with reason or permission that background checks are run again, like new position, etc?

https://www.reuters.com/business/media-telecom/us-agency-considers-limits-telecom-foreign-call-centers-requiring-english-2026-03-04/

Companies that operate with a hub-based workforce model should align their teams geographically rather than scattering small numbers of employees across multiple states. When the majority of a department or function is concentrated in a primary hub, it makes operational, financial, and collaborative sense to place the entire team in that same location instead of maintaining one or two employees in various other states.

First, collaboration and communication improve significantly when teams are centralized. Even in remote environments, employees located within the same region or hub tend to share similar, leadership structures, and workplace culture. When teams are spread out as “one here and two there,” those individuals often become disconnected from the main group, making collaboration less efficient and creating unnecessary communication barriers.

Second, centralizing teams supports stronger leadership and accountability. Managers can more effectively support employees when their teams are structured in a clear and cohesive way. When a handful of employees are placed outside the main hub, they may receive less consistent oversight, mentorship, and integration into team processes. Bringing employees together in the dominant hub location creates clearer reporting structures and stronger team cohesion.

Third, there are cost and operational efficiencies. Supporting employees in multiple states often introduces additional administrative complexity such as payroll compliance, state-specific regulations, and HR management differences. Consolidating teams in the primary hub reduces these complexities and allows resources to be focused where the company already has the strongest infrastructure.

Finally, a hub model should actually function like a hub. The purpose of a hub is to concentrate talent, resources, and collaboration in one central location. Maintaining scattered employees across various states contradicts the very concept of a hub structure and weakens the benefits that such a model is intended to provide.

For these reasons, companies that promote a hub-based workforce strategy should ensure that teams are largely located within the same primary hub rather than distributing small numbers of employees across multiple states where they operate in isolation from the core teams.

Yall were right! I just got my raise last week and pulled in a meeting to get let go this morning. I am apart of the team that is one of the merger companies. Damn!

Good luck Friday, hope you don't get the 'business update' invite for Monday am. They're coming.

Great news to hear from HR that they’re discontinuing the pension plan for those of us who have remained loyal to the company and accelerated the growth of the stock price.

When your CEO states, "If you don't buy into our strategy, go work at another company" - you are, indeed, working for a toxic company that has ZERO respect for its employees. Truly unbelievable that BE made it to the CEO position!

Perrigo plans to reduce its workforce. The pharmaceutical company expects to lay off 7% of its employees. This action aims to streamline operations and enhance effectiveness. The information comes from Perrigo's fiscal year 2025 report. Further details on affected departments were not provided.

https://wkfr.com/west-michigan-perrigo-layoffs/

Ssense reported 215 layoffs last month to the Quebec government. This brings the total to 307 layoffs over the past year. The luxury online retailer filed for bankruptcy protection in August. Founders recently received court approval to buy back the company. Lenders opposed the buyout, favoring liquidation for debt recovery.

Montreal, Quebec

https://montrealgazette.com/business/local-business/ssense-reported-over-200-layoffs-last-month-to-quebec-government

Delivering the mission statement 'Lets get going' and simultaneously firing about 1000 people would appear to show a serious lack of common sense. Are you people serious?

APLA is nothing without CS.
This is why I'm writing the appeal the decision made up above that CS moves to Greater China which is not a good idea.
CS needs to stay in APLA at least until it's broken up.
GC needs a local to the Chinese market.

When an employee resigns from Oracle, are they required to give two weeks notice?

If I leave without providing notice, are there any consequences or forfeited benefits?

The Beat mentioned Promotion and Reward cycles
When is this happening?

# Morgan Stanley Layoff Report — March 4, 2026
Source: TheLayoff.com | Thread: Morgan Stanley WM/Tech RIF
Thread ID: @OP+1kjtkpz73
Views: 8,754 | Replies: 60 | Last Activity: 8 hours ago (as of report generation)

## Executive Summary

On March 4, 2026, Morgan Stanley carried out a significant reduction in force (RIF) affecting its Wealth Management (WM) and Technology divisions globally. The Wall Street Journal pegged the cuts at approximately 2,500 employees, representing roughly 3% of the total workforce (@ez). The layoffs rolled out across time zones throughout the day, beginning in Asia and progressing through EMEA and North America. Affected employees reported being escorted out of offices, receiving garden leave notices, and in some cases discovering their severance was capped below what their tenure would suggest. No WARN Act filings were identified by thread participants ahead of the event.

## Scale & Official Confirmation

The thread was initiated by Anonymous 72 (@OP+1kjtkpz73) on March 4, who confirmed the RIF for WM was set to occur that day. The original post was made approximately one day before widespread reporting emerged.

The scale was subsequently corroborated by a user citing Wall Street Journal coverage (@ez):

"Wall Street Journal just posted a story. Said 2,500 or 3% of the workforce."

This figure places the event among Morgan Stanley's more significant recent headcount reductions. The thread notes no advance WARN Act filings were identified in the US (@eg, @dq), which generated discussion — one user speculated this may be because the majority of cuts were concentrated outside the US (@dr), which would exempt the firm from domestic filing requirements.

## Geographic Scope

Layoffs were confirmed or credibly reported across at least six cities spanning four countries, suggesting a coordinated global action rather than a regionally isolated restructuring.

### Asia (First Wave)
The thread noted that March 4 arrived in Asia first, and that the RIF had "started" there (@b6). Specific details from Asian offices were limited in the thread.

### London & EMEA (Second Wave)

• A London equities employee reported being told their position was at risk (@cw).
• Tech in London was independently confirmed as affected (@d0).
• One user reported that London had "finished" processing before the US wave began (@dn), suggesting a structured, time-zone-sequenced rollout.
• An EMEA-wide mandatory call for tech staff was reportedly called on short notice (@cp).

### Glasgow

• Affected divisions confirmed: finance, legal, and cyber security (@dd).
• Notably, one user suggested the cuts in Glasgow may have begun as early as mid-February, with several VPs disappearing around February 15 on apparent "leave" of 1.5–2 months — interpreted by the poster as quiet separations ahead of the formal RIF date (@dd).
• One IB employee in Glasgow confirmed their role was designated "at risk" and that a 30-day consultation period had commenced (@f8).

### Montreal

• Tech division confirmed affected (@ed).
• One employee reported a colleague was escorted out of the office with all her belongings (@ef).
• An Executive Director in Montreal was confirmed let go (@ey).

### New York

• WM Operations confirmed affected; at least one employee confirmed they were laid off (@dj).
• A 28+ year veteran (VP L4, tech) in NYC confirmed separation (details in Severance section below) (@dv).

### Alpharetta, GA

• Confirmed affected (@dk).

### Arlington, VA

• Multiple people escorted out of the Arlington office (@er).

## Seniority of Those Affected

Reports suggest the RIF was not limited to junior employees. Confirmed or reported senior separations include:

The presence of EDs and senior VPs in the affected pool suggests this was a performance-agnostic cost reduction exercise rather than a targeted performance-based action.

## Severance & Compensation Details

One of the most detailed firsthand accounts came from a 28+ year NYC VP (L4) in technology (@dv):

• Placed on garden leave through June 30, 2026
• Severance was described as capped, despite tenure exceeding the cap threshold
• The poster noted "there were good things there and better things ahead"

A follow-up post from another affected employee (@dx) added:

• Received 3 weeks of severance per year of service, but capped at 15 years despite 20 years of actual tenure

This cap drew scrutiny. Anonymous 72 (@e4) noted the cap represents a specific dollar ceiling tied to officer title, and that it may be legally challengeable since the cap threshold is never disclosed to employees prior to a RIF.

A separate user confirmed there is an internal HR website listing the dollar caps by title (VP/ED/MD) (@e7), though the URL was not publicly shared in the thread.

## Process & Transparency Concerns

Several users raised concerns about how the RIF was handled procedurally:

• No WARN Act notices identified for the US as of the time of posting (@eg, @dq). One user noted this may be because the cuts were primarily non-US in focus (@dr), which would exempt the firm from the 60-day advance notice requirement under the federal WARN Act.
• No advance media coverage — multiple users expressed surprise that a reduction of this scale had not appeared in the press beforehand (@b5, @dq).
• One user speculated the March 4 date may not represent the end of reductions, suggesting a rolling layoff model in which additional divisions (e.g., Banking, non-tech WM) could follow in subsequent weeks (@ds).
• The Glasgow situation (@dd) raises the possibility that some separations were being quietly processed weeks before the official RIF date, which would be consistent with a rolling or pre-staged reduction strategy.

## Division Breakdown

Based on thread reports, the following divisions were mentioned as affected:

## Notable Contested Claims

Two posts (@e9, @ej) made claims alleging that layoffs disproportionately targeted white employees and attributed this to managerial bias. These posts received heavily split reactions (roughly equal upvotes and downvotes) and generated significant sub-thread debate. They are noted here for completeness but:

1. Are not independently verifiable from thread content
2. Represent individual perceptions, not documented patterns
3. Should not be treated as factual reporting absent external corroboration

## Key Open Questions (As of Report Date)

• Will additional RIF waves affect Banking and non-tech WM, as speculated in @ds?
• Are severance caps legally defensible given the non-disclosure issue raised in @e4?
• Did Glasgow separations beginning ~February 15 (@dd) constitute a pre-staged RIF, and does this affect WARN Act or UK employment law compliance?
• What is the total headcount impact in each geographic region?

• Report compiled from user posts on TheLayoff.com thread @OP+1kjtkpz73. All information is sourced from anonymous employee accounts.

You can feel it everywhere. Nobody believes in leadership anymore because they haven't gives us a reason to in a long time. The ship is sinking fast and everyone knows it. If you're not job hunting, you're one of the few who isn't.

…knock it off! I know it su-ks always being worried about losing your job every Tuesday after payday, but you really don’t want to lose your job, especially with so many industries laying off in the last year or so. It sounds good to have a break from all the cr-p that goes on in office (I totally get that), but being freshly unemployed is NOT fun and I do not wish that upon anyone! It is hard to find a job in 2025/2026, especially when you don’t already have a job. A lot of posts for the last week or so saying March 3rd was going to be a huge day for layoffs and it was no worse than any other day. Stop creating unnecessary drama and fear for people saying the sky is falling when it’s not. Yes, I know some people lost their jobs yesterday and that su-ks, but be a good person and don’t post rumors…only post facts!

Have you got hour VPC alteady? What % of your yearly sałaty.

Just saying

Can the Mods create a separate thread or link for the Union folks? Just like VzW has its own...since these folks started posting here, we lost the fundamental topcs....

https://youtu.be/ApBnRnGFht4?si=lGmO5anh_7xoGAUk

Action speak louder than words. Bye-bye.

Are there any current HCL employees at Xerox?

Creating this to discuss the circle jer… I mean town hall today

I’m hearing Q1 is not good

So the brain trust didn't hand in their homework and asked for an extension to file their year end numbers. I'm sure the numbers are great, and they didn;t lie through their teeth on the earnings call.

GL to anyone tagged to transformation / CO work in a HCOL

Employee appreciation gift- a $15 credit to grub hub. BUT you have to spend $50 to use it.

Cheap a-s Allstate can't even give employees a plain $15 gift card. Some of us don’t even have acess to grubhub in our areas.

Hate on me all you want but this is insulting.

They have always told us “our people are our most important asset”. What does it say when you sell your most important asset. You are in a race to the bottom. I hope they win. Get out while you can. My sympathies for all those who have been affected by this very poor business decision.

Despite the online gushing about a Verizon turnaround since CEO Dan Schulman took over, the completion of its break up by delayering, which started more than 10 years ago, seems a far more likely outcome for what was once the top wireless provider in the US.

Verizon has been delayering for a decade
Delayering is when a telco splits itself into separate ServCo, NetCo, and InfraCo layers and sells off its assets to address its debts. (For a deeper understanding, check out this TM Forum research report on it). Verizon has been at this awhile.

Sold its towers

Verizon began delayering in about 2015 when it sold most of its cell towers to American Tower and the rest to Vertical Bridge just last year. Now largely a ServCo-Netco, Verizon leases towers from American Tower, Vertical Bridge, Crown Castle, and SBA Communications. The company still owns its base stations and other network gear, which move toward obsolescence every day.

Sold its data centers

Verizon left the data center business in 2017 through a deal with Equinix and now partners with hyperscalers like AWS and Microsoft for data center capacity. So, Verizon does not own much of the physical plant where it runs its IT and network systems.

Verizon’s IT landscape remains on its books, but much or most of that is outsourced and licensed, some is obsolete, and all of it is aging fast. As the pace of change increases across IT markets worldwide, especially with the AI invasion, its legacy BSS and OSS systems become costlier and less relevant to future value.

Spinning off its stores

Most recently, Verizon announced it would convert its company-owned stores to franchised Authorized Retailers. Most likely these physical assets will go to big partners like Victra and Wireless Zone, which already operate thousands of Verizon stores. This also relates to the company’s announced layoffs of thousand of customer-facing employees to shed expense.

Fiber miles next?

Verizon still owns significant installed fiber optic assets. Just as AT&T and T‑Mobile US lease most of their fiber, we should probably expect to see Verizon sell off this physical plant to raise more cash.

Becoming customer-focused? Not really
Schulman’s turnaround spiel insists the company “must shift to a customer-first focus.” This is a tacit admission that Verizon isn’t customer-focused now.

Lip service ripped from T‑Mobile

Spinning out thousands of stores to partners who charge added service fees doesn’t sound like a customer-centric move. The messaging sounds disingenuous and is cut-and-pasted from T‑Mobile’s playbook. T‑Mobile’s “customer obsession” has helped it take the lead in US wireless and it took a few years to kick in.

Cut rate holiday offers

Verizon launched a “bring your bill” holiday campaign to undercut AT&T and T‑Mobile pricing. This isn’t customer-centric, it’s prospect-centric. And it’s a race to the bottom price gimmick Sprint failed with before being acquired by T‑Mobile US.

This desperation rate cut coupled with the 13,000 non-union layoffs looks more like a short-term ploy to bump Verizon’s stock by doing two things Wall Street likes: cutting costs and adding subscribers.

These moves might benefit Schulman’s cadre of executives and remaining shareholding employees. Keep an eye on insider sales the minute the stock price moves north, if it does.

Cannibalizing its own MVNOs
Part of Schulman’s justification for price cutting is to fend off its aggressive competitors and turn the tide on customer churn. Wireless offerings from cable MSOs are major drivers of the churn he wants to stop. Two of the biggest players in cable MVNOs are Comcast and Charter, which use Verizon’s network. Verizon might win some customers away from AT&T and T‑Mobile with its holiday sale, but they will also undercut these wholesale customers.

Back in May, Verizon Consumer CEO Sowmyanarayan Sampath was telling the street that cable MSOs are “a very important strategic partner of ours” adding that because they only focus on certain segments and play in markets where Verizon “may not have a presence… it’s actually a gain for us.”

Here’s your mixed metaphor of the day: Verizon is a snake eating its tail while rearranging deck chairs on a sinking ship. This is BS on top of BS from Verizon leadership.

A mountain of debt to conquer
One thing Verizon does own is a $147 billion mountain of debt. This stands against less than $8 billion in cash on hand. Some of this debt is a leftover from the company’s debt financed, $130 billion purchase of Vodafone’s stake in Verizon Wireless back in 2014. Selling off assets to American Tower for $5 billion hardly made a dent. Some debt also ties back to its C‑band spectrum auction “win” in 2021, which cost the company more than $45 billion. Spectrum remains Verizon’s prized asset, but it’s not enough to overcome its debts.

This makes Verizon dependent on its rich cash flows. The company reported about $135 billion in operating revenue for 2024, with about $37 billion in cash flow and $19.8 billion in free cash flow. Verizon’s annual interest expense alone is around $7 billion. This doesn’t set a great stage for a turnaround and is a big part of the reason for the company’s mass layoffs just before the US Thanksgiving holiday. Classy move.

There’s not much left for Verizon to sell out of its cupboard and only so many heads it can cut to deal with its ugly debt problem.

If you’re a Verizon IT vendor, get ready to feel the squeeze. You can bet a round of contract cancellations are on the way. It would not be the first-time new management in a US telco booted out as many IT players as it could to cut costs.

Private bankers happy, public shareholders not
What’s left of Verizon will be a low-cost wireless brand that offers less value to consumers than its own MVNOs.

This reduced company isn’t suddenly going to care better for its customers. It won’t cater to businesses better as it trims back the IT and employees it needs to do so. And it doesn’t offer a better network than its rivals.

Schulman may have a great track record making investors happy, but which investors is he trying to make happy now? I don’t think it’s the public market.

Private banking interests will benefit most from the finalization of Verizon’s break up. Public shareholders will be left with the brand, debts, spectrum — if that isn’t also sold off — IT expense, and probably a reduced dividend in the not-too-distant future.

Verizon turn-around? It seems doubtful that’s even the plan. The completion of its de-layering and devouring by private money interests looks like a far more likely outcome. Then it’s a question of who buys whatever is left.

Just TUPE-ed to a different contact provider who actually gave us a 1.5% increase on transfer because the timing means we miss their annual review and DXC's (ha ha) March review.
It remains to be seen what they're actually like as an employer - but they'd have to try really hard to be worse that DXC.
Hope things work out for the rest of you.

Is anyone aware of global hiring freeze?

Home Depot recently announced significant changes for its corporate workforce. The company eliminated 800 positions, primarily affecting remote employees. Despite these layoffs, Home Depot plans to create 250 new jobs in Cobb County. Corporate workers are now required to return to the office weekly, supported by a child care center expansion and new parking. Company officials assert that Home Depot remains financially sound and is growing.

https://www.mdjonline.com/news/local/home-depot-employees-return-to-office-at-cobb-headquarters-after-layoffs/article_b6317a58-5623-4f02-94b3-834caa4d404b.html

https://finance.yahoo.com/news/reddit-still-furious-t-47-125619599.html

Anyome here moved to a new role internally after less than 12 months in current role? Or know of any colleague who did this.

It only seems fair.

Cross posting from the FIS Layoffs page here only makes sense. Buehler? Buehler?

When BAE merged with Ball Aerospace, a few years age, did BAE finally get rid of the good old boys club and old guard at Ball Aerospace that was so brutally terrible?
I have worked for both companies in the past and BAE systems was probably one of the best company I ever worked for and Ball aerospace was probably the absolutely worst company I ever worked for.

Some groups in risk, 20%

I think these are the layoffs promised in Feb that never came.

If you havent beem notified you are safe... for 2 weeks anyway.

What we betting? I have 4 nickels and a piece of string, all in.