#layoffs

ton let it slip that the company is exploring the idea of squeezing engineering teams down to 4, with the rest of the team being suplimented with ai

if you are in a team of size 5 or more, your head is likely on the block

When do you receive your severance ?

What happens to teams that get so decimated over several rounds to the point where they realistically can't do anything anymore? Do the remaining folks get reassigned to other teams? Do they keep existing in limbo until more people are hired (which would completely defeat the purpose of layoffs)? Or something else?

Getting out since their stock options aren't worth sh-t, I guess? I'm sure they will be replaced by external hires with no industry experience who live nowhere near a Medtronic facility!
You'd think the board would wake up to what a problem Geoff is. The stock is in the 70s!

THe timing of the Pulse survey is straight out of the deeply flawed HR playbook cooked up by MaryYoYo Chardonnay.

https://www.theregister.com/on-prem/2026/05/28/kyndryl-takes-employees-pulse-while-cutting-off-circulation-for-some/5247246

He also referred to BP's plans to lay off 'thousands of people', which has not previously been reported.

Source here:
https://www.dailymail.com/money/markets/article-15854489/Ousted-BP-chair-hits-lies-told-colleagues-hide-anonymity.html?ns_mchannel=rss&ns_campaign=1490&ito=social-twitter_mailonline

The NMC is currently sending jobs to India and forcing NMC employees to train them. No surprise that VZW is making its own employees train their replacements. The field and regions are going to love Habibi calling in for an issue and not being able to understand them.

AI adoption continues to drive layoffs across the technology sector. Microsoft, Amazon, and Oracle have publicly linked job cuts to AI. Meta reportedly eliminated 8,000 roles in an AI-focused restructuring. Meanwhile, demand for cybersecurity experts has surged significantly. Organizations are bolstering security teams due to AI vulnerability risks.

https://letsdatascience.com/news/cybersecurity-hiring-surges-amid-ai-driven-tech-layoffs-58b7acb5

Asante is implementing a workforce reduction affecting approximately 250 employees. The initial round of layoffs is taking place this week. Rogue Workforce Partnership is organizing support services for these impacted workers. They are hosting Rapid Response sessions and a job fair in Medford, Oregon. These events will connect workers with resources for unemployment, health coverage, and career training.

Medford, Oregon

https://www.kdrv.com/news/local/rogue-workforce-partnership-supporting-affected-asante-workers-after-layoffs/article_0774695c-8d86-4380-97ea-cfb4ed1fc985.html

I have heard from other co-workers that there will be more layoffs next month in June to close out the first half of the year. When I pressed them further they failed to elaborate. I am a care coordinator and my state is Kentucky. We do Medicaid and I do know that is under pressure but my thought is any layoffs would happen early next year in 2027. Maybe the company is getting a head start and going to lay us off early and have a termination date near the end of 2026.

Students at two South County schools staged walkouts. Mount Everett Regional School students protested recent teacher layoffs. The Southern Berkshire Regional School District cut over 20 faculty positions. Monument Mountain Regional High School students protested immigration enforcement. Students aimed to make their collective voices heard on these issues.

Sheffield, Massachusetts

https://www.berkshireeagle.com/news/southern_berkshires/south-county-walkouts/article_b73a3c47-1195-404c-a143-97cd0a46f6aa.html

The Lakers laid off more than a dozen business operations employees. These layoffs occurred on Wednesday. The affected departments included communications, marketing, and sales. This action is part of an ongoing organizational restructuring. Mark Walter's new majority ownership initiated these business changes.

Los Angeles, California

https://www.latimes.com/sports/lakers/story/2026-05-27/lakers-layoffs-part-of-sweeping-changes-to-business-operations

NPR implemented staff reductions following a round of voluntary buyouts. The total workforce reduction amounts to fewer than 30 employees. Most employees accepted buyouts, but 10 journalists were laid off. The content division saw a cut of approximately 4%. These actions address financial pressures from declining revenues.

https://current.org/2026/05/npr-reduces-staff-through-layoffs-buyouts/

I have been a employee of Oracle for 10+ years in Asia Pacific - many jurisdictions in APAC have failry strong labour/labor laws.

Sales targets have over the past 2-3 years increased substantially, to the point one could reasonably claim employee harrassment or "setting the employee up to fail"

Question: Would you bother trying to fight FY27 targets as un-reasonable, or leave with your head held high and maybe return when the job market favors the employee rather than employer?

They always have an excuse on earnings calls. Covid, Presidential elections, war, gas prices, etc. When will analysts call their bluff? They’re so far off from paying off their debt. If they don’t do sell offs, they will continue to cut expenses (headcount) every quarter to make the numbers look better.

@e2+1kr1f5ck0 said it perfectly.

I put all my ducks in a row to the best of my ability, but I'll be honest here, I've started thinking that being laid off would be better than staying here. It's not normal to have layoffs all the time. They want us to think it is, but it's not. The job is not supposed to be the source of so much stress. It's really not. I remember a time when it wasn't, even here. And I'm just so tired of it.

Any news for Spain?

Anyone heard layoffs in the public sector org?

Making SF our number one priority on a daily basis and voice becoming a hard target 1Q of 2027, it seems like the same sound and dance that mid market dealt with a few years ago.

No wonder they are at Lenovo, Intel didn’t want them! All Hands was a sh-t show!

Nike's turnaround effort has not been a quick pivot, to borrow a basketball term. It has been more like a wobbly slide on a dusty gym floor. The stock price peaked at over $170 in late 2021. It was down to $79 in October 2024, when company lifer Elliott Hill returned from retirement to take over and set things right. Now it is $46, a price investors could have paid nearly a dozen years ago.

There are two more problems. First, although shares are cheaper than they were, they are not trading at a deep and obvious discount, at 24 times projected earnings for the company's fiscal year ending May 2027. A bounceback in earnings would help, but estimates for the years ahead have been slipping.

Second, Hill is already doing the things investors are demanding: refocusing the company on performance shoes after years of shuffling along on casual designs, and repairing relationships with stores after an arrogant move online. There are pockets of success, like a modest rebound in North American sales in the latest quarter. But it has not been enough.

It is a tempting buy when one of history's great growth stocks has fallen so much. A 3.6% dividend is a sweetener. But investors should first consider the possibility that Nike's problems run deeper than they appear.

A plunge in demand from China is clearly a key concern, but there are also questions over whether Nike has lost its marketing edge, amid what might be a shift in the phenomenon that brought it to dominance to begin with: basketball stardom. It may be wise to wait for more progress before buying shares.

## Shoe Drop

An investor who held Nike from the start would have no regrets. Shares sold for 18 cents apiece, split-adjusted, at the initial public offering in 1980. But the price had dropped to 12 cents by Oct. 26, 1984. That was the day Nike gambled a then-unheard-of $2.5 million on a five-year shoe deal with a college basketball star who had not yet played a day in the pros: Michael Jordan. The pact was so transformative that Ben Affleck made a 2023 movie about the executive who landed it, called Air, starring Matt Damon.

It was not just that Jordan won six championships with the Chicago Bulls in the 1990s, or thrilled fans with soaring dunks. The 1990s were the twilight of monoculture, when consumers watched the same television shows and read the same magazines, before the internet splintered audiences.

The 1992 Olympic "Dream Team" showed Jordan off to an adoring world. In marketing, there is a proprietary measure of celebrity reach and popularity called the Q Score. Anything over 20 is excellent, and 40 is a rare pop miracle. In the 1990s, Pope John Paul II, a celebrity pontiff if ever there was one, is said to have scored in the low-to-mid 40s. Jordan hit 56. Everyone knew him, and everyone liked him. He made Nike the place to be for top athletes.

In Nike's fiscal year ended May 2025, its Jordan brand did $7.3 billion in sales, or 15% of the company's total. But that dollar figure was down a painful 16% from the year before.

For years, the brand generated hype through limited releases and instant sellouts of retro shoes, which "sneakerheads" traded on secondary markets. During the pandemic, Nike flooded the market, creating an easy boost for sales and profits, but also suffocating its hard-won hype.

Two disastrous things happened around the same time. Nike's Consumer Direct Acceleration strategy under previous CEO John Donahoe involved cutting ties with middling shoe retailers and reducing allocations to longtime partner Foot Locker, while pitching more shoes online for a higher cut of profits. Meanwhile, consumer preference abruptly shifted away from bulky basketball silhouettes toward running aesthetics, especially dad shoes and tech wear. New Balance, Hoka, and On surged, and stores that had been spurned by Nike were happy to give them shelf space.

## The Skeptic

If there is a measure beyond Nike's stock price that captures its slump, it might be operating margin, which averaged around 13% over the decade through May 2024, and is projected to dip below 6% for the year through May 2026.

Part of the decline is necessary medicine. CEO Hill has pulled back on Jordan retro models, along with an oversaturated basketball low-top turned lifestyle shoe called Dunks. He is also making amends with retailers, which has involved accepting humbler economics. The bull case on Nike - less than half of Wall Street analysts say to buy the stock today, versus more than three-quarters at its 2021 peak - is that margins will revert to normal once Nike regains its footing.

Jay Sole at UBS is not so sure. For one thing, double-digit margins for sneaker giants are unusual. Adidas (ADS) had an 8% margin last year, and it led Puma (PUM) and Under Armour (UA). Also, it is unclear how much Nike needs to shrink to grow. Sportswear, including apparel, has recently been half of sales, Sole reckons, even though the company once said it should never be more than 30%. This risks spending down brand equity that was built with performance shoes, and cultivating a customer base of trend chasers, not brand loyalists.

Stepping back, Sole wonders whether Nike has lost what he calls its superpower: the ability to be all things to all people. "Most brands have some sort of limitation," he says. "They are footwear only or they are apparel only, or they are one country only, or they are one sport only, because that is sort of what they are known as. And it is hard to be more than that."

Lululemon Athletica (LULU, +2.90%), for example, attracts primarily women, and Under Armour attracts primarily men. In past UBS surveys that asked respondents which brands are for them, most topped out at 60%, but Nike hit 95%. It sells to men, women, young, old, suburban, urban, and participants in just about every sport, or no sports.

There are so many rumors about layoffs on this forum. But none of them are based on facts.

Please focus on facts. For example, let‘s talk about the enshittification of the company culture and the effects on staff turnover. That is something that can be grounded on facts and board actions.

Thanks.

Some rumors of more June layoffs. Is it true?

In a response to a question during the investor call concerning the large number of job listings in the face of RIF's, the CFO says that the current efforts concerning identifying "synergies" should be done as soon as possible by the end of FY26. The remainder should be complete in FY27.

Anyone have any information on potentially manufacturing plant layoffs or closings coming up? I know pressure has been high lately.

Make sure you do some research on the team before making a switch. I’ve heard of teams with ongoing management concerns, including one where the manager has been out on maternity leave for extended periods almost every year for the last 3-4 years and then returned to take credit for the team’s work. There’s also another team where employees were reassigned primarily so they could be given poor performance reviews and eventually laid off. You definitely want to avoid ending up in an environment like that.

The stock price of this company only goes down and my shares built up over 5+ years are worth a small fraction of what they were. I’ve lost so much time, energy, and money with this broken company that makes moves at a snails pace. You could layoff 20% of this company and you wouldn’t even notice.

Thursday is looking like a great day to call in sick and take PTO. Does it stop you from getting notified? No. Does it create more work for your manager? Yes.

Put your manager to work if they’re going to lay you off this week.

Nothing and I mean nothing scares ppl investing with any bank more than turmoil and unrest.
They are really pushing for massive layoffs done by silent workers being threatened long insane hours and excessive workloads.
They WANT this to happen. Jump ship get the he-l out let them sink like State Street did.
They deserve their misery gaslighting employees. Reneging on five years of hybrid.
Abby is cooked she’s lost her way they’re going for the big sell out why taking about 25% in the wake.
She wants insane type A hyped up employees or the massively linear Indian and African workers willing to do this workload for Pennie’s on the dollar to escape genocide or sepsis in the streets.
This is tectonic.

Tech Firms and Large Employers just now realizing cost of compute is higher than paying human workers.
Nvidia VP Bryan Catanzaro told Axios that for his team, compute costs now run far beyond what his employees cost. Uber's CTO burned through his entire 2026 AI budget on coding tools alone — and that was by April. (Axios)
OpenClaw creator Peter Steinberger claimed that his team spent more than $1.3 million in token costs in just a single month. Because of this, it’s now apparent that using AI is more expensive than hiring people, especially since it offers only limited productivity gains at the moment.
Despite no clear evidence of AI improving productivity and no widespread data supporting the idea of AI displacing jobs, big tech firms have committed $740 billion in AI capital expenditures this year — a 69% jump from 2025. That spending has coincided with more than 92,000 tech layoffs in 2026 so far. (Fortune) So companies are simultaneously spending more on AI, laying people off, and discovering the math doesn't pencil out the way they projected.

laying people off IO, two so far

Phoenix has been a major hub for low-paid office jobs. These cubicle-based roles included customer service and data entry. Such jobs provided a path to the middle class for many workers. Now, offshoring and artificial intelligence are causing these jobs to disappear. Thousands of local workers in Phoenix face an uncertain employment future.

https://www.wsj.com/economy/phoenix-built-an-empire-of-cubicle-jobs-ai-is-coming-to-tear-it-down-fb64bb68

A career fair is being held in Fort Lauderdale. Hundreds of job seekers are expected to attend. Many are former Spirit Airlines employees. Spirit Airlines ceased operations earlier this month. The airline left approximately 17,000 employees jobless.

Fort Lauderdale, Florida

https://www.local10.com/news/local/2026/05/27/ex-spirit-employees-among-job-seekers-expected-at-port-everglades-career-fair-in-fort-lauderdale/

Guzman y Gomez permanently closed all its US restaurants. The Australian fast-food chain shuttered eight Illinois locations. Displaced workers filed a federal class action lawsuit. They allege insufficient notice for the mass layoffs. The company cited stagnant sales and high capital costs for its exit.

Chicago, Illinois

https://www.koranmanado.co.id/en/guzman-gomez-exits-us-lawsuit

UnityPoint Health and Wells Fargo announced new job cuts. UnityPoint Health announced 14 more layoffs in West Des Moines. Wells Fargo will cut 29 workers from its Jordan Creek campus. These reductions are part of ongoing workforce restructuring efforts. Both companies are implementing these layoffs in July.

West Des Moines, Iowa

https://www.desmoinesregister.com/story/money/business/2026/05/21/unitypoint-wells-fargo-layoffs-west-des-moines-jobs/90183200007/

The Roman Catholic Diocese of Syracuse expects no layoffs or parish closures. This comes as the diocese emerges from bankruptcy proceedings. Many other dioceses have faced closures and staff reductions. The Syracuse diocese filed for bankruptcy in June 2020 due to s-x abuse lawsuits. A $176 million compensation fund was created for abuse survivors.

Syracuse, N.Y.

https://www.syracuse.com/news/2026/05/syracuse-diocese-says-no-layoffs-parish-closures-expected-as-it-emerges-from-bankruptcy.html

I’ve been thinking about searching elsewhere, but I wonder if this is just a sign of the times, or is Optum especially bad about having layoffs all the time? Will it really be better if I leave?

Yahoo Sports recently implemented a round of layoffs. These cuts affected several longtime contributors. NFL reporter Charles Robinson was among those let go. Charles McDonald also announced his departure from the company. Yahoo cited strategic goals for these personnel decisions.

https://frontofficesports.com/yahoo-sports-layoffs-charles-robinson-mcdonald/

WORK-Lexington and Kentucky Career Center are assisting laid-off employees. They are helping those affected by Fayette County Public Schools layoffs. A virtual job fair is scheduled for June 17. The event will run from 10 a.m. to 2 p.m. Employers statewide can participate in this job fair.

Lexington, Kentucky

https://www.wkyt.com/2026/05/27/job-fair-be-held-those-affected-by-fcps-layoffs/