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Looks like all of the competition are also going through major layoffs or restructuring. One of the companies I was looking at (Verizon) to move to just announced a 15,000 person cut.
https://www.newsweek.com/verizon-jobs-cut-biggest-company-history-11042581
We are #1 layoff-er today:
https://x.com/TheLayoff/status/1989030202857714022?s=20
My heart goes out to all who’ve been affected so far. Synopsys employee here, and it seems like Ansys folks have been hit especially hard, at least based on what we’d heard before this round. That’s really unfair, since I know quite a few people from that side who were skilled, dedicated, and genuinely great at what they did. I can only assume performance and experience weren’t major factors. Remember, these are corporate cost-cutting decisions. They almost never reflect our true professional value or potential.
Hi, I work almost 100% from home now. So, very little interaction with folks in the QP office.
Does any one know anyone who was let go since the big announcement? I haven’t heard of anyone getting fired or quitting in my close circle YET
What percentage of management is that? How many managers does Verizon have total? This is just an awful kick in the pants.
Hearing Splunk and other Cisco layoffs today. Anyone else?
Am I the only one who only thought "okay" when reading the news? This has been dragged out for so long that I'm now numb and I don't even care anymore. If they want to get rid of me, so be it. It's not like those staying behind will be in a much better position with all the extra work coming their way.
This is horrible news. I’m so sorry, guys, for all of us.
Love the title
Pay for poor leadership decision
https://www.dailymail.co.uk/yourmoney/article-15288451/amp/verizon-job-cuts-customer-losses.html
There goes the hope that we were just exaggerating, right out the window. I think my blood pressure just spiked.
https://www.thenorthwestern.com/story/money/companies/2025/11/12/oshkosh-defense-layoffs-to-impact-160-workers-they-start-in-january/87231155007/
So 15k is the number. Which is still short of the 20%. So most likely round 2 will be after January. Those lists were already made as most people suspected. If anyone has actual details on how the layoff procedure works from prior experience, please inform us is there an HR call is there a WebEx? And what are the details of the actual severance if there is any?
one out of every 10 will not be here after the following week. That will be one out of every five after January. Sad state of affairs.
Verizon shares rose about 1.7% on the news.
Thousands upon thousands of people are about to lose their livelihoods, and investors are rubbing their greedy little hands together, rejoicing at the news. Really tells you something about the state of the world we live in.
Wow just heard on radio not only 15,000 by next week ,but that Dan said more to come and layoffs and cost cutting will be a way of life at Verizon along with most corporate wireless stores will not exist anymore only 3rd party dealers
Verizon is cutting another 15,000 Employees, bringing their total down to about 85,000 — and you can bet your AASSS that AT&T will follow in their footsteps.
https://www.wsj.com/business/telecom/verizon-to-cut-about-15-000-jobs-87280c3c?
https://finance.yahoo.com/m/75f297fa-e15f-3cba-96f5-57abda5a2630/verizon-to-cut-about-15-000.html
This is going to be a fu--ing bloodbath. How is anybody supposed to focus on work with this hanging over our heads? 15k???
The layoffs, the largest ever for the wireless carrier and impacting about 15% of its workforce, are set to take place in the next week.
The cuts are aimed at its non-union management ranks and will affect more than 20% of that workforce, the source said. Verizon also plans to transition around 180 corporate-owned retail stores into franchised operations, the source added
Just in this week they are laying off as many blue badge technicians as possible to replace them with green batches, multiple managers confirmed
Just go looking for jobs and you see "semi-conductor or any city intel fabs are in" are the key words, no perks or severence payouts saves intel plenty $$
Bryan appears to either be simple-minded on his approach to running SOLV (into the ground) or being directed by a higher power or deity who has no idea how to run a HC company (Peltz). Either way, he has once again proven that the GE style (Welch, McNerney, Nardelli) of "leadership" simply emaciates a once-strong company into a parceled mess of unrelated businesses waiting for a spin or break-up.
Thankfully, I got to leave during the Covid wave of layoffs and enjoy retirement and coffee mornings on the porch, but still care from time to time about what was left behind.
When Bryan was named CEO before the actual spin and gave his first townhall, people on this board sounded so optimistic, which made sense since Roman was a complete buffoon as CEO. Not sure if he talked much about actual strategies for growth and investment or he just used soothing words and bubblegum phrases to get people to like him, but the shine has clearly worn off.
Annual layoffs, as occurred at 3M under Roman and now at SOLV, only prove you have either NO long-term strategy except for HOPE or you have a strategy that changes faster than the weather in Minnesota every spring and fall day. Either way, Wall Street has (finally!) learned that such a "strategy" is a loser and has kept SOLV stock changing mostly sideways while the SP500 is up over 15%.
Having read a few of the public SOLV releases to shareholders, it appears that SOLV is not likely to have any major runout during Bryan's term. NO long-term growth = no long-term ROI. He has never indicated either to employees or Wall Street what his plan is to reduce the massive debt 3M left in his mailbox. He is the antithesis to Lee Iacocca who earned $1 per year and potentially worthless stock options while flying commercial to DC to lobby for loan guarantees.
Perhaps the only strategy that will work is a series of mergers and spins with other HC companies to spread the debt across multiple companies, hopefully stronger and run for growth. But where would this leave Bryan and his guaranteed 40 million per year? That's the sting! I'm convinced a McKnight CEO would quickly be forced out by some activist investor wanting a quick return for their buck like Peltz.
If there's any consolation, Peltz is basically sitting on dead money with 600+ million invested, almost zero gain on the stock price, and no dividend for perhaps years to come. No wonder he keeps pushing for more layoffs. But the layoffs people talked about this week appear to wiping out business critical roles that will only hurt SOLV and help the competition.
Sorry to hear about this 2nd round of Holiday layoffs. The people at 3M/SOLV deserved much better than Roman, Hanson, and Brown.
The company was in a growth/acquisition phase for basically 10 years, now with the current landscape and the negative sentiment from stockholders, the government, employees, cratering stock price the layoffs will not end, only increase. Raises are next to nothing along with bonuses, stacked ranking laying people off even if they are good performers, over worked/over stressed, useless surveys, etc. 10 years ago the company was actually good to work for, the company is now a shell of its former self. Don't work her unless you want to constantly worry about being played off and overworked.
I wondered if anyone heard about claims facing RIF. I thought about it through out the year as I filled out my performance review but haven’t heard a single thing or received any emails about my performance in general. Quarterly bonuses end up in my check with no communication or anything sent about them. It’s giving … you’re here for a short time.
Layoffs starting now
https://finance.yahoo.com/news/verizon-cut-15-000-jobs-160715206.html
Verizon to cut about 15,000 jobs, source says: (Reuters) -Verizon (VZ) is planning to cut about 15,000 jobs, a person familiar with the matter told Reuters on Thursday.
The layoffs, the largest ever for the wireless carrier and impacting about 15% of its workforce, are set to take place in the next week, the person said.
It already hit the Street and ghasp Yahoo
https://ca.investing.com/news/stock-market-news/verizon-to-cut-15000-jobs-amid-growing-competition-pressures--wsj-93CH-4315096
CNBC just reported (per WSJ) that Verizon is expected to layoff 15,000 employees next week, making it its biggest layoff ever. It’s coming. Sigh.
Verizon Job Cuts are Largest Ever for the Carrier, Sources Say -- WSJ
Nothing to see here. Move along.
Wasn't able to join, but saw the slack thread and didn't see much on there about what actually happened
Management is trying to make the vast majority of their workforce obsolete, because they realize that those workers are coming to grips with how obsolete, and malicious, these "leaders" are.
It's a showdown on a massive social scale as haves and have nots push each other to the point of watching the resourcefulness and the competence of the individual to rise above both ownership and technology, in order to focus on one single thing - GETTING SH*T DONE.
PS. I want my Fu**ing bank back. I am not your slave. I am not your knight. I will not fight for those who seek to destroy me, or defend those who blindly comply.
Some in APAC were let go this morning (APAC time) and some are being invited to a meeting in EMEA and US now while I am writing.
If you are working from home, your job will be replaced by AI.
Since the layoffs, most of my department is working overtime. Others, like myself, are still working their 40 hour work week and letting the work be delayed. We haven't been told directly to work overtime, we're just expected to do more with less. They give us more than 40 hours worth of work with the expectations that we deliver on the same timelines as before, with the same pay of course.
I'm guessing this is common across all areas of the firm, but wanted to hear from others to confirm.
A few commonalities between the penny (1 cent) and Penny:
Remember “a penny saved is a penny earned” and a “Penny saved is a lesson learned”
Did anyone catch a Freudian slip yesterday? I feel like there was a lot of stammering because of nerves to deliver bad news. But did anyone catch this?
This isn’t verbatim, but something was said along the lines of - we have to make tough calls.. why? For the greater good of the KING — and then instantly corrected to TEAM.
Has anyone taken an employment reference letter from Oracle after being laid off (for next employer)? If so, does it mention any reason for termination (eg laid off)?
Just had a meeting with director and supervisor . Salisbury, MD, Dover De, Hampton Roads and Richmond Call centers are being shut down. Wireline fios customer service in Silver Spring is where we can go and return to office. We can take the package or relocate there. 90 days! The package is nice but people are upset
India folks, what's the latest news? I'm hearing 1500 job cuts across portfolios.
https://techrights.org/n/2025/11/13/IBM_Layoffs_Seem_to_Have_Reached_Europe.shtml