#costcutting

We all know the 5B target... so how much has actually been cut from the balance sheet?

seems like they are firing mainly developers due to cost reductions / the on going climate and moving developers to India. everyone's benefits were terminated and at midnight and were given the a standard bare bones severance.

Last week's layoffs carried over US employees itself or VZ India as well? Why all american workers and their positions get eliminated but not India employees? Is it because of cheap rates? Though their work is at sub-par in quality and no accountability what so ever?

What happened in Claims a few weeks ago? Heard there may have been some senior officers departing? Performance, or is this an exercise in flattening the leadership structure and cutting costs?

We can replace Stankey for around 5k, and save the company $30 million+ per year. This doesn’t even include stock losses this dum--ss boomer has caused.

We give AI The Handmaid’s Tale, Elon’s annotated version of Mein Kampf, and tell it to always make the d-mbest decision possible. Abracadabra, we’ve replaced John Stankey and saved the company 30 mil a year.

Recording 24 consecutive quarters of staff reductions, the current headcount stands at 197,000 employees, reflecting a decrease of 15,000 positions compared to the previous year. Over the past six years, under the leadership of CEO Charlie Scharf, the organization has eliminated a total of 79,000 roles.

https://www.msn.com/en-us/money/other/wells-fargo-warns-of-additional-job-cuts-as-cost-cutting-drive-continues/ar-AA284NyR?ocid=msedgntp&pc=U531&cvid=f393bcd159ae452af7868dfd2f6ebb02&ei=9

https://www.crn.com/news/channel-news/2026/cdw-cuts-jobs-as-ai-cost-cutting-drive-takes-hold

For those of you good at math, how many employees need to be laid off to reach a 55% efficiency ratio? GK said on the earnings call that the goal is 55%-57%.

Walgreens Boots Alliance is now under private equity ownership following a significant acquisition. The company is implementing aggressive cost-cutting measures, including widespread layoffs and store closures. This strategic shift aims to streamline operations and improve profitability after a period of financial struggle. Former shareholders received a cash payout with the potential for additional returns from future asset divestitures. The company is fragmenting its business into independent units to focus on core competencies.

Deerfield, Illinois

https://www.kavout.com/market-lens/what-triggered-walgreens-shift-to-private-ownership

Ford just interested in cutting high wage employees, shipping work outside of country and hiring H1B's...

Why purchase a non American product?

I’ve seen so many people post on LinkedIn today that this is their last day at Cisco. Very similar to when I was laid off as It’s all about cost nothing to do with refocusing on AI. Everyone who looks to be impacted was 20+ years there so high dollar resources. They managed to throw in a few younger people to avoid the lawsuit.

Verizon is preparing to implement another round of job cuts this week as part of its ongoing cost-saving initiatives. The telecommunications giant aims to reduce expenses under the leadership of its new CEO, Daniel Schulman. These layoffs follow previous reductions in November and May, with the company having previously announced a goal of $5 billion in operating expense savings for 2026. CEO Schulman has emphasized that these measures are necessary to reinvest in the company's value proposition and address declining customer satisfaction. The company's stock has seen a modest increase this year, but it continues to trail the broader S&P 500 index.

New York, NY

https://www.barrons.com/articles/verizon-layoffs-73f1fc34

Cost of HSI is more than the revenue it generates. 3% HSI customers occupies more than 50% of network capacity.
Hence more layoffs to reduce overall costs.
Stock price stays high bcoz the volume is low average daily is less than 1/10th volume of Verizon or AT&T.
Markets are getting tricked but will this continue?

How can fiscam justify the push of AI now that the costs are becoming clearer?
Another cost to drive share price much lower!

Procter & Gamble is planning to eliminate up to 7,000 non-manufacturing positions by fiscal year 2027. This significant workforce reduction is intended to help the company manage increasing tariff costs and streamline its operations. The cuts will primarily affect office and support staff, not those involved in production or factory work. This strategic move aims to improve cost productivity and maintain margins amidst external economic pressures. The company will focus on redeploying savings into growth, brand building, and innovation initiatives.

https://finance.yahoo.com/markets/stocks/articles/procter-gamble-pg-plans-7-190737889.html

Over 2,600 companies have initiated layoff events impacting more than 230,000 employees in 2026. This trend, while significant, shows a 40% decrease compared to the same period in the previous year. Artificial intelligence is frequently cited as the primary reason for these workforce adjustments. However, some analyses suggest that cost-cutting and restructuring may be the underlying drivers. The technology sector has experienced the most substantial job cuts, though manufacturing, retail, and financial services have also seen reductions.

United States

https://eciks.org/13243-29978-employee-layoffs-2026-230000-workers

Management thinks they're being smart by continuing to replace older workers with younger, cheaper ones. But they're overlooking that young people have boundaries when it comes to work. They won't work nights and weekends or answer your emails 24/7. Productivity is going to take a hit, and I'm here for it.

AT&T “leadership” needs to wake up and start making hard decisions about where capital is actually creating value and stop wasting it on nonsense.

Starlink and SpaceX are no longer just interesting companies to watch and laugh about. They represent a serious long term existential threat to traditional telecom like AT&T, and Wall Street is clearly paying attention. The recent 30% decline in AT&T’s stock price reflects the growing concerns about the company’s future and its ability to compete in a changing industry.

AT&T employs roughly 100,000 people, and maintaining a large and widespread office footprint comes with enormous ongoing costs like office leases, utilities, HVAC, water, janitorial services, security, parking, maintenance, supplies, and countless other facilities expenses in the neighborhood of $2B-$4B annually.

A reduction in unnecessary office space and a more flexible virtual first approach could free up tens of billions of dollars used for real competitive investment. That’s capital could be redirected toward the things that will actually determine whether AT&T wins the next decade like network investment, technology, spectrum, AI, innovation, and attracting and retaining top talent.

Instead, we’re continuing to wastefully spend billions on office space each year while also building a new multi billion dollar HQ nobody (besides Stink) wants or needs. At a time when the company is facing its biggest competitive threat in history, is that really the best use of capital?

AT&T doesn’t need to waste more billions proving employees can sit in a building like it’s 1960 in 2026. It needs to spend its available billions proving it can compete in the future, and right now morale is so low because of RTO that nobody here is motivated or cares at all.

If leadership is serious about competing against starlink, then capital should follow strategy. Go after the easy low hanging fruit and reduce the unnecessary facilities and associated costs, rethink archaic RTO requirements, and invest those dollars where they’ll actually generate a real competitive return. Ending the RTO nonsense seems like one of the easiest and most obvious places to start.

Too bad this “leadership” team is full of proven losers who can’t admit they got it wrong, again. One man’s ego and stubbornness will be the demise of a once great American company. Sad!

AT&T “leadership” needs to wake up and start making hard decisions about where capital is actually creating value and stop wasting it on nonsense.

Starlink and SpaceX are no longer just interesting companies to watch and laugh about. They represent a serious long term existential threat to traditional telecom like AT&T, and Wall Street is clearly paying attention. The recent 30% decline in AT&T’s stock price reflects the growing concerns about the company’s future and its ability to compete in a changing industry.

AT&T employs roughly 100,000 people, and maintaining a large and widespread office footprint comes with enormous ongoing costs like office leases, utilities, HVAC, water, janitorial services, security, parking, maintenance, supplies, and countless other facilities expenses in the neighborhood of $2B-$4B annually.

A reduction in unnecessary office space and a more flexible virtual first approach could free up tens of billions of dollars used for real competitive investment. That’s capital could be redirected toward the things that will actually determine whether AT&T wins the next decade like network investment, technology, spectrum, AI, innovation, and attracting and retaining top talent.

Instead, we’re continuing to wastefully spend billions on office space each year while also building a new multi billion dollar HQ nobody (besides Stink) wants or needs. At a time when the company is facing its biggest competitive threat in history, is that really the best use of capital?

AT&T doesn’t need to waste more billions proving employees can sit in a building like it’s 1960 in 2026. It needs to spend its available billions proving it can compete in the future, and right now morale is so low because of RTO that nobody here is motivated or cares at all.

If leadership is serious about competing against starlink, then capital should follow strategy. Go after the easy low hanging fruit and reduce the unnecessary facilities and associated costs, rethink archaic RTO requirements, and invest those dollars where they’ll actually generate a real competitive return. Ending the RTO nonsense seems like one of the easiest and most obvious places to start.

Too bad this “leadership” team is full of proven losers who can’t admit they got it wrong, again. One man’s ego and stubbornness will be the demise of a once great American company. Sad!

RAP going away sounds like generic cost cutting to me. But losing all of your vacation at the end of the calendar year just means it’s far cheaper to lay people off in Q1 2027.

How can they lay off AMs, while turning around and immediately adding new AMs?

It seems like what might be really happening is CDW is trying to re-set the payroll with lower paid employees and foregoing the experience, expertise and customer relationships of AMs who were paid more competitively.

I’m sure that’s also happening in other departments.

What could go wrong?🤦🏻‍♂️

I was on a walk behind one of the many buildings at (redacted) today. There was a big yard of vehicle bodies sitting in the sun. There were also many shipping containers. As I walked along one of the containers, I saw a shipping tag that was written in Chinese. I was intrigued by this. So I started looking at the other tags on the shipping containers. Many of them half Chinese, half English. These are cars that cost over $100,000. Shame on general motors for not having American suppliers make these car bodies. And shame on anyone who can lecture someone with a straight face to buy American. It's no longer possible to buy American. The corporation sold out the American worker in so many ways. It's all about the stock prices and executive compensation t this point. They have no loyalty toward anyone/anything but their own bank accounts.
Remember this when they tell you you have to justify your own existence by proposing cost cutting ideas.

iHeartMedia has laid off its last two full-time local on-air personalities in Erie as part of a nationwide cost-cutting initiative. These layoffs are intended to save the company up to $150 million. The affected stations will now primarily feature syndicated programming from outside the local area. This shift leaves the broadcast studios empty of local talent. Former station owners and employees emphasize the importance of local personalities for listener connection.

Erie, Pennsylvania

https://www.goerie.com/story/news/local/2026/07/08/iheartmedia-layoffs-erie-pa-radio-rocket-star-bob-wjet/90824485007/

A lotof cliches can be said so I'll spare you the boredom.

They did it again, stakeholder value was retained for a quarter at a cost of competency.

We knew this comany is not here to innovate, I mean the top product is a cheap SharePoint variant and the latest innovation is AI tool that saves you time in copy-paste, if you are willing to spend 6600$ a month to host it.

No one in OT asks themselves why other companies make money while we are not, they ask how can we milk a 30 year old tech with minimal effort and here we are, 2% down anda new announcement that now, this time, finally, for sure - will succeed because the problem was expensive employees not 8ncompetent accountants.

Ever heard about 3% YOY growth that never happens? Yes!
Ever heard about analysts that get fired for getting it wrong? No!
The OT way.. a graveyard for auccessful tech for sale.

I was let go today along with many others at the Waterloo office. Many good people. All very senior, so it is all about cutting cost as much as you can. Happy to leave. Dead products with no future growth.

More and more nb support engineers are being hired and integrated in support teams. English speaking support engineers have been getting layed off in recent years and it looks like the remaining support engineers are next.

Does someone have any info on this? Whats the timeline? Supposed to be a new batch of newbies soon which we probably have to train to replace us to reduce costs.

21 employees, 3 managers = 1:7 ratio. Cutting to 1 manager still covers all 21. Removing 2 managers saves ~2x manager pay, no output loss.

fire vps and directors of all levels. get serious about earning your bonus Dan!

Here is the comprehensive statistical breakdown for General Motors in 2026, based on their latest Q1 reporting and updated full-year projections.

Key insight: GM's profitability is currently being driven heavily by their unified "Ultium" battery architecture, which is driving down manufacturing costs across their next-generation fleet, alongside a highly profitable mix of traditional gas-powered trucks and SUVs.

GM's first quarter demonstrated significant margin expansion, driven by disciplined cost management and higher-margin truck and SUV sales.

Revenue $43.62 billion Down 0.9%
EBIT-Adjusted $4.25 billion Up 21.9%
Net Income $2.62 billion Down 5.7%
EPS (Diluted-Adjusted) $3.70 per share Up 33.0%
GMNA EBIT-Adjusted $3.66 billion Up 11.4%
GMNA Margin 10.1% Up 1.3 ppts

In late April, GM raised its full-year EBIT guidance by $500 million. This was triggered by a favorable U.S. Supreme Court decision regarding certain tariffs paid under the International Emergency Economic Powers Act (IEEPA), lowering their expected gross tariff costs for the year to a range of $2.5B - $3.5B.

EBIT-Adjusted $13.5 billion - $15.5 billion
Net Income $9.9 billion - $11.4 billion
EPS (Diluted-Adjusted) $11.50 - $13.50
Automotive Free Cash Flow $9.0 billion - $11.0 billion
Capital Expenditures $10.0 billion - $12.0 billion

GM maintained its core volume leadership while aggressively growing its EV footprint in the first half of the year:

• Overall Market: Maintained overall sales leadership in the U.S. and Canada.
• Trucks: Led the U.S. industry in full-size pickup sales with a 42% market share.
• Fleet: #1 in fleet and commercial deliveries.
• Electric Vehicles (EVs): Now ranked #2 in U.S. EV sales with growing market share, and #1 in Canada.
• Crossovers: Since refreshing their lineup in 2023, crossovers have grown from 40% to over 46% of total GM sales.
• China: Reported its 6th consecutive profitable quarter in China (Equity income of $165 million in Q1).

GM is aggressively returning capital to shareholders while scaling its high-margin software business.

• Share Buybacks: The company retired $800 million in shares in Q1 alone, reducing diluted outstanding shares to 926 million (down from 1.002 billion). This is part of a larger $6.0 billion share repurchase authorization approved in early 2026.
• Dividends: Raised the quarterly dividend by 20% to $0.18 per share (a $0.72 annualized yield).
• Software (OnStar/Super Cruise): Deferred software revenue is projected to end 2026 at $7.5 billion. GM expects to realize an additional $400 million in recognized software revenue in 2026, which operates at roughly a 70% gross margin.

It appears that General Motors is doing extremely well, which begs to the question:
Why the urgency to cut costs?

Save and cut costs!

Stop paying retail reps for In-Store Pick Up orders!

You are literally paying double commission!

Millions of dollars saved!

I'm not getting all those discussions whether it's now over, the wfrs. You don't listen or what?

We are only two thirds through the costs savings program. One third is still ahead of us. Source: CFO, Q3 investors call.

Do you think one third can be achieved by forcing us to bring our own toilet paper to work?

Profit growth of 10 percent is only attributable to the wfrs. Source: same. Yes, that's the way to huge profits! What else?

P/E ratio is between one third and one half of industry peers. OT is profitable. Normally investors must be queuing up. And still no one wants to buy? Haha, "our investors are patient, they give us time" (source: was that Ayman in the last show?)

Our most important asset is people. Important is attracting good talent and keeping good talent. Source: all hands town calls, those clowns with E- and C- titles. Who of course kick the best people out. Do you really believe them? See a doctor.

Trust no one but yourself. If you do not have financial buffer, start building it now. Start looking for alternatives. Many postings here can be made by those who want you go by yourself, to save on severance. You do not have to, but just make sure you are prepared.

What is the point of keeping SVP+ ICs in high cost locations while full teams are being laid off ?

What is their exact contribution?

iHeartMedia has initiated widespread layoffs. These cuts impact its Columbus, Ohio, radio stations. Longtime hosts Chris Davis and Joe Kelly are departing. The company plans a new $50 million cost savings program. iHeartMedia also aims to scale its technology capabilities.

Columbus, Ohio

https://www.dispatch.com/story/entertainment/2026/07/01/columbus-radio-stations-iheartmedia-staff-layoffs/90755892007/

I know this has been discussed on this board already, but I find it shocking that Verizon is stopping so low as too getting excited about scrapping metal. The plan is that Verizon will sell some of the Central Offices and then "scrap" metal harvested from the CO's. My SD is gloating that this will be a good revenue source for Verizon. Are we really getting that desperate?

I call bullsh-t. This is all about money and nothing else. Why else would they get rid of one of our best performers with impeccable record and decades of experience?

I hear A layoff is approaching at Phoenix, AZ Peak location.
They are cutting costs with tenured employees and hiring
unlicensed people to train with no experience.

British American Tobacco is undertaking a major workforce restructuring. Approximately 5,500 positions will be eliminated, and 3,500 roles moved to third-party providers. The company aims to reduce costs and improve profitability through AI and outsourcing. This overhaul responds to declining traditional tobacco sales and increasing regulations. BAT expects to generate £600 million in annual savings by 2028.

https://anz.peoplemattersglobal.com/news/strategic-hr/ai-driven-layoff-one-of-the-worlds-biggest-cigarette-makers-is-cutting-5500-jobs-50587

Artificial intelligence is significantly reducing animation production costs. Filmmakers report cost cuts of up to 90% using AI tools. This technology replaces entire staffing layers in production workflows. Los Angeles County's motion picture sector lost 6,700 jobs through May 2026. Studios view AI efficiency as a structural necessity for the industry.

https://finance.yahoo.com/technology/ai/articles/ai-cuts-animation-costs-90-210000466.html

International Paper announced plans to close four facilities in the United States. These closures will affect 330 employees across four states. The company will shut down plants in Illinois, California, and New Jersey. It will also cease preprint operations at a Kentucky facility. These actions are part of a strategic effort to optimize its North American network.

https://www.packagingdive.com/news/international-paper-four-closures-layoffs-2026-fiber-production/823945/

More cost cutting planned. As a result expect no raises and no CL promotions again this year. Meanwhile as inflation eats away at your pay, the buying power of your compensation goes down further.