#costcutting

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CRT / EFCC

This should be concerning to U.S. Bank’s CEO:

There is an ongoing concern regarding the excessive number of management positions within EFCC specifically CRT(Grade 14 and higher) within U.S. Bank. From an employee perspective, many of these roles appear to add little to no measurable value to daily operations, production goals, or team performance, yet they command very high salaries.

There is a growing perception that a significant portion of upper management has minimal direct involvement in the actual work being done. Meanwhile, frontline employees and senior individual contributors are absorbing the workload, resolving issues, and driving results—often without corresponding compensation or authority.

The department feels increasingly top-heavy. Decision-making is slow, layers of approval are unnecessary, and resources are being spent on positions that do not directly contribute to productivity, customer experience, or revenue. This structure is not financially efficient and raises serious questions about accountability, role necessity, and return on investment.

At a time when cost control and operational efficiency are frequently emphasized, it is difficult to understand why so many high-level management roles are maintained despite their limited impact. A thorough review of these positions, including role consolidation or elimination where appropriate, could result in substantial cost savings and improved morale among the employees who are actually doing the work specifically the Senior Reviewers.


Schulman is going to shut all the haters post earnings

slashing costs like crazy (20% of USELESS CORPORATE BR workforce), going lean and "scrappier," obsessing over customer-first moves, and finally turning heavy 5G investments into real subscriber wins against T-Mobile and AT&T.

Critics whining about outages, support drops, and slow growth? Watch the earnings numbers crush those narratives. Subscriber net adds rebound, margins expand, AI plays kick in. Schulman's proven he turns giants around.
Haters gonna hate, but earnings will shut them up. $VZ to the moon under Schooooolman. 🚀


Lexmark synergies + Project Reinvention = layoffs

It was essentially ignored in the earnings call, but it was on the slides. Expectation of captured Lexmark synergies and continuing project Reinvention. Together, each drives layoffs.

One example, a software used by Lexmark is chosen instead of one used by legacy Xerox. Software cost savings are achieved, but the people managing the legacy solution? Bye bye headcount. This applies to Reinvention as well, as we have seen over the last year with layoffs.


The Museum of Fine Arts Boston Layoffs 2026

MFA Boston Cuts 33 Jobs for Cost Reduction

The Museum of Fine Arts Boston is reducing its workforce to cut costs. The museum announced a 6.3% reduction of its total staff. This translates to approximately 33 jobs being eliminated. Sixteen of these positions belong to union members. The MFA Union expressed deep concern and plans to bargain with the museum.

https://www.wgbh.org/news/local/2026-01-28/layoffs-hit-mfa-boston

Boston, Massachusetts


Mass Lay Offs in December

FYI - Floor & Decor (Floor and Decor) had layoffs in Q4 2025

As of late 2025 and early 2026, Floor & Decor has experienced workforce reductions, including reported layoffs of specific roles due to restructuring and a, as described, "fragile" operating environment. Despite ongoing store expansion, the company has faced, as described, declining comparable store sales,, and pressure to manage, as described, high lease liabilities, leading to, as described, cost-cutting measures.
Recent Job Cuts: In December 2025, reports indicated, as described, workforce reductions and, as described, elimination of positions, which has, as described, caused concern among staff.

Company Performance Factors: While generally expanding in recent years, by late 2025, the company showed, as described, softer performance with declining comparable sales. Analysts have suggested, as described, that a reliance on expanding store count, as described, masks, as described, weakening, as described, fundamentals.
Employee Sentiment: Employee reviews, as described, from late 2025 have, as described, reflected, as described, negative sentiment regarding management and company stability.

Previous Cost-Cutting: Historically, during 2020, top executives took, as described, temporary pay cuts, as described, in response to the pandemic, but recent actions appear more, as described, related to, as described, structural, as described, retail pressures.


UnitedHealth forecasts loss of nearly 1M employer plan enrollees amid price hikes

"UnitedHealth Group executives today predicted that the number of people with its fully insured commercial health coverage will fall about 16% this year, to less than 6.9 million."

https://www-benefitspro-com.cdn.ampproject.org/c/s/www.benefitspro.com/amp/2026/01/27/unitedhealth-forecasts-loss-of-nearly-1m-employer-plan-enrollees-amid-price-hikes/


Glencore Layoffs

Glencore is cutting 1,000 jobs to reduce costs as it focuses more on the growing demand for copper. The company is also merging its nickel and zinc operations. Glencore employs about 150,000 people worldwide. It plans to spend a lot of money to increase copper production, aiming to become one of the world’s largest copper miners.


Next shoe to drop?

Why are company managers traveling to several remote locations this week and next? Are they preparing for more reductions or changes? PAC Northwest locations, Salt Lake, Tempe and Albuquerque sites are all bracing for quick turnaround meetings where leaders fly in for 2-3 hours, splash around, assess the morale and then fly out??? Seems strange in an era of cost savings. Who else is seeing this type of activity?


Get ready for the Feb 5 announcements

That all hands? That will be where Dan tells us

  • we did amazing, what a strong quarter
  • we are the worst carrier and everything needs to change
  • first, we need to cut cost
  • in order to improve efficiency and to better serve and delight our customers, and given the inflow of people from Frontier, we will lay off another 8% of staff
  • turnarounds are amazing, the best thing ever (assuming you survive)
  • we will shuffle the deck chairs and do a reorg - we'll find a cozy spot for all the useless execs and keep paying them for a long long time (like Hans, Shankar, etc)
  • fear, I mean, transformation and cost savings, will be a permanent 'feature'
  • now stop complaining and go back to work so Dan can earn his guaranteed $31M between now and the end of next year

What do you think are the main reasons?

There seem to be layoffs spreading across the financial services.... especially asset management and custody space (State Street, Fidelity, BlackRock, Vanguard, Schwab, Citi, Morgan Stanley). I’m curious whether this is mostly cyclical or tied to longer-term structural shifts. What do you think are the main reasons?


Say goodbye to what's left of the dividend

Desperate times call for desperate measures. The dividend has got to go. It's only $13m a year, but XRX needs the $$ to pay interest. XRX should have fully eliminated the dividend when Carl left. Also, how stupid would it be to issue more shares without cutting out the dividend. XRX must go into serious cash preservation mode.


Management policy changes

The company decided to pause their AI push, as the low hanging fruit has been harvested, and further adoption requires substantial investment and training. To decrease costs, they now aim to reduce the number of MDs by delegating their work to VPs, reduce the number of VPs by delegating their work to AVPs, and to reduce the number of FTEs in India to Indian contractors.


Citi moving jobs overseas

They are laying off everyone in the United States and hiring in all these hubs in Costa Rica, Manila, Mumbai, Warsaw. They are paying the workers for cheap labor. Thats how they are planning to cut expenses yet they are racking in millions by American investors. How are these employees in these countries will be able to communicate and have professional conversations when they will be working with business leaders based out of the US? The government needs to start investigating what is going on and start taxing these big corporations that are shipping American jobs overseas.


Ann Arbor, MI

Trinity Health Outsourcing Leads to Revenue Cycle Layoffs

Trinity Health is cutting 10.5% of its revenue cycle department jobs. These non-patient-facing roles are being outsourced to an external partner. The exact number of affected employees is currently unknown. The hospital system cited industry challenges and cost reduction as reasons. These challenges include low reimbursement rates and rising care costs.

https://www.mlive.com/news/ann-arbor/2026/01/some-health-care-staff-laid-off-in-washtenaw-county-as-trinity-health-outsources.html?outputType=amp


Intel still paying for Pat's shopping spree

IDM 2.0 was never a bad idea. In fact, it was necessary to save the manufacturing side of the company. But Pat’s mistake was investing in fabs before fixing yield and before we could reliably produce competitive chips for our own products again.
Lip-Bu Tan is doing all the right things to right-size the ship and inject discipline back into the company. I expect we will soon see changes to the focal process to align with that expectation from employees. But none of it means anything if yield does not reach industry-leading levels.

The fixed costs of underutilized fabs designed for future yields and future customers are ki-ling our bottom line and shortening the runway to get us there. If not for the investments Intel received last year, it would be over already.


Extreme pressures on all sides

Falling stock prices, increasing memories cost, eroding margin, sunset industry for Print, commodisation of PC biz, AI impact, failed business acquisition. HP is facing unprecident challenge across all front. Past earnings and cashflow putting into buying up own shares and increasing dividend is not working. Endless cost cutting through work force reduction and not investing to improve business is eating the company from within.

Rumours have been increasing on company splitting Print and PC up. CEO and multiple C-suite changes/leaving talks had been circulating wild. Staty tune for more cost cutting and business org change.


01/28 next RIF

My manager told me today that I need to let someone on my team go as part of a cost-cutting effort, and that I’m expected to notify them next Wednesday. I don’t agree with this decision. My team is already working excessive hours dealing with production issues we can’t keep up with, and the expectation is that my other team will just have to absorb the additional workload. According to my manager, the directive is to cut one person from each team.


Frog in a boiling water: AI adoption ; NExt 75

Next 75 figured it that it would look amazing, to use AI software for QA for customer service, cutting out accenture and in house employees..

Funny part is they have no idea, that AI software sold to them, is in the early adoption phase.. AI software makers are making big corporations adopt, once they are absolutely dependent on them, the licensing costs will be through the roof with contracts requiring money to get out, whereas people are easy to fire and hire. People wage growth is a laughable to BIG AI hiking up licensing cost 2 X - 3 x every 5 years

You just played yourself, all your data and operational capability belongs to us. Best part the VP and Director who signed off on this wont be even be there, next time licensing price is hiked


Severance costs absorbed by orgs now

In case you haven’t heard, severance is no longer funded by the company at corporate higher level. Organizations have to absorb those costs now. Those orgs are not going to be as willing to lay people off vs just firing for whatever reason they come up with.


Metropolitan Opera Announces Layoffs

The Metropolitan Opera has announced a new round of cost-cutting measures, including layoffs, executive pay reductions, and a scaled-back production schedule, as it continues to grapple with financial instability, according to reporting by the The New York Times.

https://www.broadwayworld.com/article/Metropolitan-Opera-Announces-Layoffs-Salary-Cuts-and-Reduced-Programming-Amid-Ongoing-Financial-Strain-20260120


Lehigh Valley Public Media cuts nearly half its staff after years of financial losses

Hasanna Birdsong, chief executive officer of the nonprofit, said the operation will move forward with 20 to 25 employees after cutting personnel across all its departments.

https://www.lehighvalleynews.com/local-news/lehigh-valley-public-media-cuts-nearly-half-its-staff-after-years-of-financial-losses


Erosion of People Culture at Dell

Over the past two to three years, there has been a noticeable and troubling shift in Dell’s people culture. What once stood out as the company’s strongest asset—the fabric of trust, inclusion, and employee-centric values—appears to have steadily deteriorated.

This change feels less incidental and more deliberate. Decisions increasingly seem driven by cost-cutting and downsizing, with little regard for preserving the culture that once defined the organization. Instead of investing in engagement and retention, there appears to be an unspoken acceptance—if not encouragement—of voluntary attrition as a means to reduce headcount and save money.

It’s disheartening to witness the gradual unraveling of a culture that many employees valued deeply. What was once a source of pride has now become a cause for concern—and that is truly a shame.


When is the next layoff?

Now that things have settled down, we are fully focused on cutting costs. That’s all the LT cares about. With all the cost cutting there have got to be layoffs. The question is when? 2026? 2027? How long does it take for layoffs to come to us? Where are all the employees going with all the work being cut? Trying to see if I can last long enough to get laid off. Wishing I took the EOI but had no idea what we were in for.


any H1Bs impacted?

Anybody on H1B visa impacted in this round so far? In previous rounds, no visa folks were impacted, at least on the network org. Seems like company is harboring visa holders, Anybody else feel that way? H1B paperwork involves filling costs, lawyer fees etc. which is opex, If the goal is saving opex....


Transformation steps

Goal: Decrease operating cost by reducing high salary people and not paying for hourly worker benefits as there are many store employees.

  1. Take away store employee holidays so the full timers quit. Huge savings on the benefits. Then only hire part timers to replace.

  2. Close OPO to make as many people quit as possible. So far under 100 but soon it will be up to 200. Could even go up to 300 within 3 months of OPO closer.

  3. Few months after closing OPO, Move head quarter to a cheaper area and cash 400 million for 4 buildings. Expect people who live nearby to quit. People moved to Chicago for a job and bought a home nearby to have balanced life style. Lot of people who work at a head quarter will quit if office moves far away. Near the farms where it is cheaper land or in middle by staples office on I355.

Leftover downtowners will quit if they are not by commuter train.

Total people who quit will be around 1000 at the end without any layoff or severance package. This guys know what they are doing.


Cost-Cutting and Layoffs?

Hi everyone,
I'm wondering if anyone has heard about potential cost-cutting measures or layoffs affecting contractors at Charles Schwab? With the current economic climate and many companies restructuring, I'm curious if there are any known plans to reduce contractor workforce or cut contractor-related costs. Has anyone heard anything from their teams or managers about this?