#layoffs

Is anything happening or not?

400+ group call today beginning consultancy process in UK. Psychopathic exec on the call getting giddy about the future and innovations etc.

It appears RIFs started in HC today, 2/19. I do not believe anyone was affected or at least reported anything during January. Likely just the beginning of markets’ adjustment. Please share any info as it unfolds.

DF's buddy who owns Lattitude, is taking over connected vehicle's development. People bailing right and left.

If you were laid off, could you please state the area you were laid off from and your role or grade level. Just want people to keep informed.

HCL Tech is planning layoffs at its Lakeland office complex. Nearly 100 employees will be affected by these changes. The company functions as a vendor. It is tied to Marriott Vacations Worldwide's outsourcing strategy.

https://www.bizjournals.com/tampabay/news/2026/02/19/hcl-tech-layoffs-lakeland.html

Anymore layoffs today in E&I specifically in tech ?

This is the second time within months our team was hit. How are we supposed to do our jobs and remain sane when layoffs are now basically a monthly occurrence?

https://finance.yahoo.com/news/sam-altman-says-ai-displacing-113050990.html

The ask Mr AI-washing about AI-washing. How much are they paid for this hogwash?

Once again the stock has fallen off the map, it was a t a yearly low of $119 earlier today and is not moving out of 120 range - so what next for layoffs? The market is down in general but it's hurting us more than others due to our do-nothing executive weather team. How long before they do the next round???

The timing is not a coincidence: Verizon is essentially funding the start of that $25 billion buyback program with the savings from those 15,000 employees.
The "Cost Transformation" Math

In late 2025, Dan Schulman launched what he called a "cost transformation." Here is how the numbers connect:

The Layoffs: Verizon cut roughly 13,000 to 15,000 positions (about 15% of their workforce). This was the largest workforce reduction in the company's history.

The Savings: Management told investors these cuts, along with AI automation and switching company-owned stores to franchises, will save the company roughly $5 billion per year in operating expenses.

The Buyback: They then announced a plan to spend at least $3 billion on share buybacks in 2026.

Essentially, they are taking the money saved from 15,000 salaries and handing it directly to Wall Street.
Why this fuels the "Bonus" argument

You mentioned the concern about Dan Schulman’s bonus, and the layoffs add a specific layer to that:

Efficiency Ratios: CEO bonuses are often tied to "Operating Margin" or "Free Cash Flow per Share." By cutting 15,000 people, the "cost to run the business" drops instantly, making Schulman look like an efficiency genius on paper.

EPS Manipulation: As we discussed, buybacks reduce the share count to boost Earnings Per Share (EPS). When you combine massive cost-cutting (which raises the "Earnings" part) with buybacks (which lowers the "Shares" part), the EPS growth looks explosive.

The "New Sheriff" Strategy: Schulman is using the classic "Kitchen Sink" approach—take all the painful hits (layoffs, massive severance charges of $1.8 billion) in his first few months so that 2026 and 2027 look like a massive "recovery" that he can take credit for.

The Human vs. Financial Cost
The Wall Street View The Real World View
"Leaner and Scrappier": Analysts cheer the $5 billion in savings as a way to protect the 6% dividend. Morale & Service: Cutting 15% of the staff (mostly middle management) often leads to worse customer service and slower technical fixes.
"Capital Discipline": Returning cash shows they aren't wasting money on "ego projects." The Human Toll: 15,000 families lost income while the company "found" $25 billion for its own stock.

NO GROWTH NO STRATEGY JUST BIG FAT CATS

TLDR: Offshoring is tanking the company, layoffs are coming monthly, and the whole thing’s about to implode. Brace yourself.

The tribal knowledge that execs are wiping out with all this offshoring is priceless and irreplaceable. I know a lot of US-based teams that have been hit by the recent layoffs, many of them who worked directly with clients. I feel for them, and I feel for the clients too—they have no idea how quickly this company is falling apart from the inside.

According to a solid resource involved with HR, they’re planning to lay off 200-250 people every month. I’m definitely looking for jobs outside of the company because the writing’s on the wall. Soon, there won’t be anyone left in the US except the execs, a few critical infra folks, and CSMs/SRMs to keep the facade that everything’s fine.

This whole company is running on siloed legacy infrastructure, and once the people who actually know how everything works are gone, it’s just a matter of time before catastrophe strikes—something that’ll make the Capital One incident look like a joke. The world’s largest payment processor is on the edge of imploding, and most people have no idea what’s coming. The crypto bros will be celebrating their "black swan" moment.

Well, I’m out the door. Fun!

So Hans ran the company into the ground and gets an extra year of his 24 million salary. Sampath gets a 4 million dollar retention bonus and leaves 3 months later. Meanwhile store managers are being read the riot act if their stores have overtime. Cause my 3 hours of OT are gonna sink the company. Way to take care of your people Verizon. I always knew I was a just a number. But I felt like an appreciated and valued number. Nope. I am no longer proud to work here. Verizon wants me to do the impossible but God forbid it takes me 42 hours. Can't wait for the next pulse survey.

Any managers released from their jobs recently?

Any other WellMed departments get affected?

Does HR or someone higher up communicate that news to you?

Any rumors on what bonus payout will look like ? I’m over due for a promotion but it looks like this year will be another year of waiting.

Due to restructuring in Ortho, aka giving all the jobs over seas to Costa Rica, all the TX design team, clinical advisors, DC and FMQC, US based employees, are being laid off effective in March. Hard to say official numbers but it's upwards of 40 people. Many were here since clarity alligners started nearly 10 years ago. Pretty sc-mmy way to save a few bucks the day after they announced 1 Billion dollars for stock buy back.

Has anyone received an email about the badge being deactivated before layoffs discussions? Several teammates have received an email stating the badge has been deactivated and when they speak with their leader the leader doesn’t answer any questions.

So many have been generous in sharing what is happening for them and on their teams in real time. It's gut wrenching to watch. Please take good care of yourselves. If still in the office, get contact info or create text chains for your workgroup to stay in touch. If laid off, don't sign anything until you have a chance to review it. Check your local laws regarding length of time to do so. If appropriate, have an attorney review it. Resist any pressure to sign without those options. If you are impacted, as mentioned elsewhere, it's not your fault, you did not fail. Everyone was failed, right from the top.

Just got the call from my boss. Position eliminated. I got the impression she did not know until shortly before I did. I had my review yesterday and got 4 then this today.

Looking at the 4Q results and current price of commodity prices, do you anticipate Oxy might be force to do layoffs this 2026?

Team I'm on is mandating AT LEAST 50 PERCENT OF ALL NEW CODE be generated using copilot. No longer "use copilot to work faster" but now "replace your development skills with copilot". I do not doubt, FIS will be rolling this out to ALL of development over time

If there were any doubts that FIS was taking the path of using AI to reduce workforce, well. That seems to be EXACTLY where were headed

Can't wait for the brain and skill rot from forced use of copilot to bite them in the a-s

Anyone else notice how they avoided answering questions related to layoffs vs. C-suite compensation, offshoring, etc. in the latest TDO town hall? I’m disgusted but not surprised in the least that these cowards don’t have the ba--s to answer questions associates care about.

I left in January before OPO closed and before the PE axe swung. Things were tense when I left and I know they got worse before the big cut.

Is DF packed wall to wall? Are the parking lots insanely packed? Does anyone care about their job anymore? Are the contractors all gone?

When will this be over damn it?

So did we pay ichan out first so he got a great price so we could then effectively dismantle 2 business down to bits they could sell off.

Factor in that too as you mull over possibly being let go. Don’t forget, we are better together, unless of course you are let go, then you are on your own.
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“Citigroup Chief Executive Jane Fraser has been elected as chair of the bank's board and also received a one-time award of $25 million. etc… restricted stock valued at $25 million and 1.055 million stock option.”
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https://www.morningstar.com/news/dow-jones/2025102210533/citigroup-ceo-jane-fraser-named-chair-gets-25-million-stock-award

The corporate labs had a reorg and layoff. I heard that there are others let goboutside the lab as well. What other areas had layoffs this year?

NP here. Me and 3 others laid off this morning.

Putting this out here now for those of us who try to survive another year. Expect that merit will continue to be extremely minimal, and the company will move to more of a bonus/LTI system.
When they pay larger merit, they have to keep up with those increases year over year regardless of profits. If I give you a $5000 raise, I am now committed to paying you at least that salary as long as you’re around. Now multiply that times thousands of employees.
A bonus however is one time. I’m only committed to that amount THIS year.
LTI is worse, I promise to pay if you stay for 3 years, but if I lay you off, I’m freed from that obligation.

So expect the company to continue to lean heavier on bonus and LTI (aka paying it out at 90-100%), versus seeing larger merit pools going forward.

The Jefferson Township Board of Education faces a $4.8 million budget deficit. Officials warn this gap may force layoffs and program eliminations. Potential cuts include team sports and arts programs. The district is urging residents to advocate for more state aid. A public rally is scheduled for March 7 to support increased funding.

https://www.dailyrecord.com/story/news/2026/02/18/jefferson-nj-highlands-schools-plan-rally-to-demand-state-aid/88736287007/

https://youtu.be/VlfpfttvatQ?si=I_LgN8bn8RqFvj4U

A Baystate Health spokesperson said Monday the system has taken “another difficult step” to improve efficiency by cutting 117 corporate positions. The affected employees make up less than 1% of the overall workforce. Those impacted have been notified and offered support resources.

https://www.westernmassnews.com/2026/02/16/baystate-announces-elimination-over-100-positions/

Maybe this is me but the concept of announcing several executive level promotions and simultaneously telling the workforce that there will be layoffs to offset inflation, shows a total lack of humanity and civilized behavior. Is that what we have become?

What a real win for Jane. Citibank cuts staff for raises to the top executives. No one knows including the entire department. You just vanish after 10 years and they say nothing. While Jane received a $41 million dollar pay day.

I certainly let go of all my 200+ shares in the company. This is not progress or innovation this is pure theft. I see top executives are selling very quickly. To the management shame on you!

You couldn’t even give a hint of notice saying anything. Not even a 60 day notice prior to letting us go. A tap on the shoulder and say hey you’re going to be laid off after a decade of work. When the stock falls to nothing no one will be shocked.