#layoffs

First we got a WFR announcement. Then a CEO resignation. Now a bunch of site closures.

What else can we expect of a dying company?

Fire the tech mod and other creatures that only increase bureaucracy and create the appearance of savings.

This week, management informed over 200 people including managers, supervisors and leads that they are planning to offshore all of our home mortgage loan roles to India. Not sure how you can call yourself U.S. Bank when more and more employees are not located in the U.S. scary to think everyone’s personal data will be available to non-US residents. I’m sure our lenders and borrowers will be ecstatic to hear this (they clearly don’t want this to be brought to their attention since we were told multiple times what to do if media encounters us). It’s very sad to see so many employees and leaders all being kept in the dark. Thank you to our fearless ceo Gunjan and shareholders 🙄

I'm hearing of another large wave of layoffs that were announced this week (also confirmed by LinkedIn posts). It looks like it might be hitting BID and maybe the Carlsbad site in particular. Can anyone provide more detail on who was impacted?

If BCG has been in already, Mgmt knows where they are cutting. Its if it when...

If BCG, was in . Mgmt already knows where it’s cutting …

A few questions regarding 3M's mascot, Scotty: Who watches him all day? What does it cost to have people watch him? Where does he go at night? How much did it cost to trademark his name: The Science Lab? How much time and money went into this decision (legal, PR cost, etc) to acquire him? Was he a rescue dog/puppy mill/legitimate breeder?
Is there any chance he will get laid off or spun-off?
Maybe a better mascot would be a black widow spider or a preying mantis, you know, one's that eat their own.

Directors that say yes to every request from VPs no matter how ridiculous or last minute the ask continue to survive. They have their head so far up the VPs a$$ hoping to advance their own career with no regard to their team. Truly a good ole boys club at that level. At the end of the day every employee is just a number with a salary that will be the deciding factor in the next round of layoffs. No amount of extra effort will be taken in to consideration, so take your PTO and enjoy time with friends and family.

QA, DevOps, Internal projects are going to be affected massively. In India, there will be heavy layoff at management level (VP, Director)

I'm not seeing this in a post. If you already have the $2000.00 in stock and are laid off will you still have it or do you need to bank actively employed for tge 2 year waiting period. I'm on medical leave and don't have access to Worday. They cut my access as usual. I feel once I'm actively employed I'm going to be laid off. TIA

BB seems to lose money by tearing things down to rebuild them. In 2021, he bought a $7M house on a Florida golf course and demolished it, building a new multi-million dollar home in its place. In the meantime, he bought a $4.1M condo to live in, which he dropped a ton of money into renovating, and sold it for $3.1M to move into his newly built home. Wasting money tearing things down - is what he's doing to 3M?

Plymouth County Sheriff Joe McDonald announced 33 employee layoffs. This action includes the entire Bureau of Criminal Investigation department. The sheriff cited an unprecedented fiscal emergency for these cuts. State lawmakers withheld funds due to large budget deficits. An Inspector General report criticized sheriffs' spending practices.

https://www.bostonglobe.com/2026/03/05/metro/plymouth-sheriff-layoffs-spending-scrutiny-inspector-general/

Please tell me why she’s sticking it to us even more with this ecard? It’s employee unappreciation day here. We all feel stressed, abused and unappreciated. Thanks, Gunjan for nothing and for no merit increase. Ugh!

Tennessee's first and only Ikea store will close. The Memphis location is set to shut down in May. This closure will result in 114 layoffs. The store originally opened in 2016. It was the only Ikea in the state.

Memphis, Tennessee

https://dailymemphian.com/article/60601/ikea-memphis-closure-to-result-in-114-layoffs

Doosan GridTech recently laid off staff. These layoffs occurred in Bellevue. The company was formed in 2016. Doosan Group acquired 1Energy Systems to create it. This acquisition cost over $10 million.

https://www.bizjournals.com/seattle/news/2026/03/05/doosan-gridtech-layoffs-bellevue.html

Lumileds will close its San Jose facility. This closure impacts 24 remaining employees. The company previously eliminated 61 positions in November. These actions total 85 affected employees. Lumileds is shifting its manufacturing operations to Asia.

https://inside.lighting/news/26-03/lumileds-san-jose-facility-set-close-layoffs-continue

Superintendent Mary Skipper presented a $1.71 billion budget for BPS. The district plans to eliminate 300 to 400 staff positions. This includes over 200 teachers and 100 support staff. Rising costs and declining student enrollment are factors. The School Committee will vote on the budget March 25.

https://baystatebanner.com/2026/03/05/boston-teacher-layoffs-likely-as-bps-outlines-next-years-budget/

Legit said the pay was under market, that the raises I am stating are "best case" are far below market for role, and that nominal cash bonuses with zero equity upside mean: "we aren't paying to keep you or grow you."

This was the UHG CoPilot, not some outside source. Our leaders told us to use AI for professional development and job work, and wow! LOL

Global bank Morgan Stanley announced significant job cuts. The cuts impact three percent of its global employees. The company cited changing business priorities and individual job performance. These reductions follow similar moves by other large firms. Layoffs affect investment banking, wealth management, and investment management divisions.

https://uk.finance.yahoo.com/news/huge-layoffs-continue-tech-finance-135217128.html

Universal Music Group's Mercury Studios laid off several staff. MD Kelly Sweeney and other senior staff exited the company. Mercury Studios is based in London. The studio produces music documentaries and live concert recordings. These layoffs reflect a contraction in the documentary and TV production sectors.

https://deadline.com/2026/03/layoffs-universal-music-group-mercury-studios-1236744728/

My boss just told me that he was asked to rack and stack his people. Seems that mid-April we will have a RIF.

He said this is going to be a big one. He was also asked about people over 50 in our group. Seems that the old folks are going to shoulder the brunt of this one.

He also shared that this will be both a salary and an hourly reduction.

https://www.reuters.com/sustainability/sustainable-finance-reporting/nike-records-300-million-restructuring-charges-after-recent-layoffs-2026-03-05/

300$ million sounds like a really high number and not adequately explained by recent Converse and DC actions, IMO. point being the upcoming purge is going to be big!
Please comment.

New data shows layoffs decreased significantly in February. Challenger Gray & Christmas reported a 55% drop in job cuts. However, companies' hiring plans remain weak due to uncertainty. The technology sector continued to announce substantial job reductions. Experts are watching the labor market for signs of a soft landing.

https://finance.yahoo.com/video/layoffs-down-55-feb-challenger-223000727.html

Was in a meeting with managers a few rungs up the ladder than me when one of them fielded a question about "Reimagining". They mentioned that there's always been a "Cascade 3" and that it's happening in the next 3 months. They said more jobs will be offshored as a part of it but they don't know how much.

Has anyone else heard anything about this?

The Greater Roanoke Workforce Development Board hosted a hiring event. This event was for Yokohama employees affected by upcoming layoffs. The Yokohama Tire Corporation plant in Salem will permanently close. This closure is set for March 18 and impacts hundreds of workers. More than 50 businesses participated in Thursday's job fair.

Salem, Virginia

https://www.wsls.com/news/local/2026/03/05/hiring-event-for-yokohama-employees-affected-by-upcoming-layoffs-set-for-march-5/

I am leaving for another position soon. Saw my current role posted for internal applicants listed one grade level lower than my current grade level.
Has anyone else seen this happen before?

I know EQIX is doing very well but wondering if the rumored business reorgs will brings layoffs along with it.

Had a meeting with my boss who is a band 4, and was advised another round of layoffs is coming in April… does anyone have anymore detailed info as far as departments???

Any word on other higher executives getting let go and how much will that impact the people under them really? Will whole teams be impacted?

Company will be made to publish list of employees in your teams who are not US citizens and are H1Bs \L1bs \OPTs \Green Card candidates. This will be the biggest litigation ever.

He will sweep UHC American Technical jobs all to India, with Steve saving money for the shareholders and collecting his big Bonus for cutting cost at the expense of American Workers. Walkout March 27 -- Stop work. Hit them on the bottom line.

I was part of the mass layoffs in December. The other day I received an email from a recruiter about a few contract to hire openings that they felt I’d be a good fit for. They found my resume on one of the job boards that I’m using. I stated that I was part of the mass layoffs and the recruiter stated the were aware and had roles they needed to fill.

It’s sounding like they know they sc--wed themselves and are scrambling to fix it.

What a giant slap in the face.

There’s a lot of negative sentiment here around Thrive Together. That reaction is completely rational. Many people are trying to rationalize the decision - commercial real estate exposure, leadership being out of touch, or executives undervaluing remote productivity. Those explanations miss the point. Thrive Together is a much larger slight against employees than most people realize.

It’s easy to assume the executive team is uninformed or making poorly thought-out decisions. That assumption is wrong. These are experienced business leaders who understand exactly what they are doing. Whether internal metrics show remote work to be more productive is irrelevant. If those metrics supported the narrative being pushed, employees would see them. They don’t, and they won’t. Leadership knows the data doesn’t support the story, and they don’t need it to.

Their only real objective is increasing the stock price.

Historically, one way companies accomplish that is by reducing headcount. The problem is layoffs come with costs - severance packages and payouts of accrued PTO. Thrive Together creates a mechanism to reduce the workforce without formally conducting layoffs and without paying those costs.

Instead of layoffs, the company now has a framework where employees who cannot comply with Thrive Together requirements can simply be labeled as low performers. That label leads to performance improvement plans and eventual termination. The end result is the same as a layoff, but without severance, without PTO payouts, and without triggering the procedures that normally accompany workforce reductions.

Flexible Time Off (FTO) reinforces this system.

FTO didn’t expand a benefit - it removed one. Under a traditional PTO system, employees accrued time off that the company was obligated to honor or pay out. Under FTO, nothing accrues. Time off is technically “unlimited,” but in practice none of it is guaranteed.

FTO can function in a truly flexible remote or hybrid environment where employees aren’t bound by strict office attendance quotas. That is not the environment being created here.

Under the current policy, time taken under FTO does not reduce in-office attendance expectations. For the average employee, that creates a clear disincentive to take vacation because office quotas remain unchanged regardless of time off.

Leadership recently increased the expectation to three days per week in the office. If an employee takes a week of vacation, they still owe those three in-office days somewhere else in the fiscal year. Two weeks of vacation doubles that deficit.

If the company eventually moves to four or five in-office days per week - as many suspect it will - the system becomes mathematically unsustainable. There will be no practical way for employees to take time off while still meeting attendance expectations within a quarter. FTO with Thrive Together is structurally incompatible with meaningful time off.

What’s happening here isn’t confusion or poor planning. It’s a gradual tightening of pressure on the workforce while removing the company’s obligations that typically accompany layoffs. Even better, some employees will leave on their own to avoid the mess.

The plan was always to make you work more while creating a system that results in less time off, lower performance reviews, and a convenient excuse to fire people without severance.

Keep an eye out for a "Important Business Update" appointment scheduled in your calendar on a Monday or Wednesday Evening. If you see that, you will be RIF'd the following morning. Your computer is locked almost immediately after you are notified, so if you have stuff you want on it, disconnect it from WIFI so you can pull off any personal data. To figure out who else on your team is also impacted, try scheduling a meeting with your boss, and all your teammates that day with your calendar tool. That will give you an overlay of availability. Anyone else with 15 minute slots that overlap with your boss's calendar are getting RIF'd that day too. This will be Oracle's largest RIF yet, they are starving for cash and the easiest way to fix that is by reducing headcount - 8% reduction is likely.

Board numbers are being reduced https://www.reuters.com/sustainability/sustainable-finance-reporting/outgoing-bp-chief-auchincloss-earned-53-million-pounds-2025-2026-03-06/

They could probably reduce the board further but at least this is a start!

What is the deal with the hatred towards IT at Chevron? Its pure he-l working here in IT as you are treated as a 3rd class citizen. We are the first for our ignorant ELT to pick on for cuts all while that advertise around Houston how they are technologically advanced and talking about how important IT is. For those who say we dont pump oil, try to do your job now without IT. Like getting paid, well software makes it happen.