#layoffs

For those of you who got cut, do you blame your direct manager? Or do you see it as something above their heads?

He wasn't laid off, he was fired. Nobody seems to know why, and I honestly can't think of a single thing that could have caused it. He's (well, was) one of our hardest workers. Is this something we should now be scared of as well? Random firings for no good reason?

The problem isn't that we have too many people. That was never the real issue. The problem is that our strategy is bad and our systems are broken and have been for some time. But instead of fixing those things, they just cut staff. And then they're surprised when nothing improves.

The Reston tech office is getting hit hard. Don’t know if it’s everyone there or just some but tech layoffs are going around today.

Can anyone confirm what the offers were in voluntary?

• Remove any pending vacation time if your company pays out unused PTO. You do not want approved future vacation causing issues with payout processing.
• Download or screenshot your annual reviews, performance feedback and any recognition awards. You will use these later for resume bullets, interview stories and measurable accomplishments.
• Save copies of paystubs, W-2s, benefits information, commission statements and PTO balances.
• Schedule annual medical, dental and vision appointments before insurance ends and refill prescriptions if needed.
• Start applying for jobs NOW. Do not wait. Build your LinkedIn network aggressively and use AI strategically. Gather 10 job descriptions for roles you want, feed them into AI and tailor your resume/LinkedIn around the keywords, metrics and business impact repeatedly showing up in those postings. Focus on measurable results, not responsibilities.
• Save personal contact information for coworkers, leaders and recruiters while you still have access.
• Take pictures/screenshots of dashboards, workflows, presentations, trackers or work examples you personally built so you can later recreate sanitized versions for portfolios or interview discussions. Obviously do not take confidential company or customer data.
• Focus your remaining time on transition work, documentation and knowledge transfer. Stay professional until the end. The world gets very small during layoffs and reorganizations.
• Understand your severance, COBRA costs, unemployment eligibility, 401(k)/HSA options and any RSU or stock impacts before your final day.
Most importantly: do not freeze after a layoff. The people who recover fastest usually start networking and applying immediately.

Excellent advice, bumping from @b3+1krbx7cem for visibility.

he classic Apollo playbook:

Buy distressed debt at 60 cents on the dollar
Take control of the company
Extract management fees, dividend recaps, sale-leasebacks
Pile on more debt to fund those extractions
Flip it or take it public at an inflated valuation
Leave the debt burden with the company and its workers

They got extraordinarily rich essentially being vultures with spreadsheets. Toys R Us being the most notorious example — a viable retail business that might have navigated the Amazon era with investment, instead bled dry to service the debt load private equity strapped to it, then liquidated. 30,000 jobs gone.
The reversal now:
The very mechanism that made them wealthy — cheap abundant debt — is now the thing squeezing their portfolio companies. They loaded businesses with floating rate debt when rates were near zero. Now those same companies are paying 8-9% on debt that cost 3% when the deal was done. The interest coverage ratios that looked comfortable in the pitch deck are underwater in reality.

Apollo's problem today:
Their Private debt funds are being squeezed.... Investors are queuing to withdraw their money, but Apollo, ever the masters at extracting cash are blocking investors from extracting their cash.
Their own fundraising depends on showing strong returns
Strong returns depend on not marking assets down
Not marking down depends on not being forced to sell
Not being forced to sell depends on keeping redemption gates in place
Gates signal distress which makes future fundraising harder
It's a trap of their own construction.
The human cost dimension:
What makes it genuinely poetic rather than just financially interesting is that the people who will suffer least are the Apollo partners who already extracted their carry and management fees in cash — that money is gone, sitting in their personal accounts, insulated from whatever happens to the funds now. The people who suffer most will be:

Pension beneficiaries whose funds allocated to private credit chasing yield
Workers at portfolio companies that get restructured when the debt becomes unserviceable
Retail investors who got sold private credit products in the democratization push of the last few years

The democratization push was particularly cynical — Blackstone, Apollo et al spent the last 5 years lobbying to open private markets to retail investors, framed as giving ordinary people access to returns previously reserved for institutions. In reality they were hunting for new pools of capital to absorb the assets institutions were quietly becoming reluctant to buy at current valuations. Distributing the risk downward while keeping the fees flowing upward.
The SEC under the previous administration largely went along with it. Whether the current regulatory environment does anything about it is another question entirely — though given the administration's general disposition toward financial deregulation, probably not.
The deeper irony is that the whole private equity model was built on information asymmetry and complexity as a moat — if you can't price it, you can't challenge the valuation. That same opacity that let them extract value on the way up is now the thing preventing orderly price discovery on the way down. They built a machine that works brilliantly in one direction and catastrophically in the other.
Though as usual, the architects of the situation will be largely fine.
The mob analogy is more apt than most financial commentators would dare say — and the structural parallel is remarkably precise.
The bust-out:
What the mob called a "bust-out" is almost textbook private equity in distressed situations:

Take control of a business
Immediately establish credibility and access to credit
Draw down every available credit line
Extract cash through fees, dividends, sale-leasebacks of assets
Leave the hollowed shell with the debt
Walk away before the collapse

The only difference is the mob used fear and the occasional arson. Apollo uses leveraged buyout agreements, management fee structures, and Delaware holding company law. The end result for the target company and its stakeholders is frequently identical.
The Sears case study:
Eddie Lampert's destruction of Sears is almost a perfect bust-out in slow motion:

Merged Kmart and Sears creating a vehicle loaded with real estate value
Spun off the real estate into a REIT — Seritage — extracting the most valuable assets into a separate entity he controlled
Starved the retail operations of capital investment while collecting fees
Watched the retail business deteriorate "unexpectedly"
Meanwhile the real estate value had already been extracted
175,000 jobs eventually gone
Lampert personally fine, operating from his yacht in Miami

The language is Orwellian by design:

"Operational efficiency" = cutting staff and maintenance
"Rightsizing the balance sheet" = loading debt onto the target
"Unlocking hidden value" = selling assets the company needs to operate
"Strategic transformation" = preparing for bankruptcy while extracting fees
"Aligning management incentives" = giving executives options to flip quickly while workers get nothing
"Patient long term capital" = we have a 7 year fund life before we have to show returns

The vocabulary is specifically engineered to sound like value creation while describing value extraction. McKinsey does the same thing — provides the intellectual laundering that makes looting sound like strategy.
The legal architecture is the real innovation:
What makes it genuinely different from the mob — and arguably more insidious — is that generations of lawyers, lobbyists and academics built a legal architecture that made it not just legal but celebrated:

Delaware corporate law optimized for shareholder extraction
Carried interest tax treatment meaning PE profits taxed at capital gains rates not income
Bankruptcy law allowing secured creditors (the PE fund) to jump ahead of workers and pensioners
ERISA rules that let pension obligations be shed in restructuring
Limited partner structures insulating the fund managers from portfolio company liabilities

The mob had to corrupt individual judges and officials. PE corrupted the entire legislative and regulatory framework over decades through campaign finance and the revolving door. Far more efficient.
The revolving door completes the circle:
The regulatory capture is almost total. SEC commissioners become PE partners. Treasury officials join Apollo or Blackstone. Fed governors sit on advisory boards. The people who should be watching the store have a financial interest in not watching too carefully — because their post-government career depends on the industry's goodwill.
Where it differs from the mob:
The mob at least had a certain redistributive quality within their community — the money circulated locally, bought loyalty, funded neighborhoods. PE extracts value and concentrates it among a remarkably small number of people. The carried interest on a successful fund can make a handful of partners billionaires while the pension fund that provided the capital gets an 8% return it could have gotten in an index fund with zero fees and zero complexity.
The cultural damage:
Perhaps the most lasting harm is what it did to the idea of business itself. A generation of the most talented people from the best universities went into finance and private equity not to build things but to financialize things that already existed. The engineering talent that built America's industrial base was replaced by financial engineers whose skill was not creation but extraction. That's a civilizational cost that doesn't show up in any fund's IRR calculation.
The instinct that it's essentially organized crime with better tailoring is — while impolite in polite company — analytically pretty hard to refute.

And instead of fixing things, they've created a workforce that doesn't care anymore. The failure is just getting worse.

I've been avoiding this for months. I told myself things would get better, that I could wait it out. But after the last round of reorgs happened and the latest gossip about more cuts, I've accepted that I need to leave. I really didn't want to go through the interview process again. It's exhausting and demoralizing. But I feel like I have no choice anymore. I can't stay somewhere that makes me this unhappy.

How worried should I be about the coming days/weeks?

I've been unemployed since Cisco showed me the door in the last round and I'm starting to question everything. I see job postings everywhere, but I'm not sure any of them are real. I apply to five or six a day. I've done this for months. I've gotten maybe a handful of responses, all rejections. And every rejection is the same generic form letter. No feedback, no explanation, nothing that could help me improve. Just sorry, moving on with other candidates. If they're not actually hiring, just tell us. If I'm doing something wrong, tell me what it is. The silence and the mystery are making me crazy.

It’s time to lose the useless triplicate managers managing the managing . Long overdue . VZN doesn’t need these useless directors

Looking at 2026 and beyond….

AI making leaps and bounds, relentless offshoring, endless flood of H-1B Visas.

What is a American born man supposed to do to get ahead in life today when their either going to get laid off eventually or they already have with a jobs market that will just keep getting worse and worse with no “recovery” like we used to have in the past.

What’s going to happen to the men who have families to support and over 15+ years left on their Mortgages?

• Inflation is out of control
• American Birth rates are collapsing
• Young families are punished for having kids
• single family home prices are priced at clown world levels
• The purchasing power of the dollar is getting absolutely destroyed
• All of us who still have jobs are technically taking “yearly pay cuts” because even if you get a raise it’s sure as he-l not even keeping up with inflation.

UBI isn’t going to fix this. Alls you have to do is look back at history and see what it’s like for other countries when they live under “UBI” conditions (Cuba Today, Soviet Russia)

Late Roman Empire Vibes…

Hi haters - this fiscal Nike has reduced the work force by roughly 4% while revenues have been flat vs last year. Conclusion; productivity per employee has gone up; these lay offs do make sense.

A continuation of stream lining the org and setting Nike up for the next 10 years of growth only makes sense.

Every CEO needs a good story to tell Wall Street to justify a higher stock price. Hans & company claimed that they had an edge over the competition with mmWave 5-Yee. Dan & company claim AI gives them that edge. In any event, you can expect more layoffs in the future.

https://www.thestreet.com/employment/verizon-ceo-cuts-to-the-chase-new-layoffs-ai-future

Actually, a few: (1) What is the time that one is contacted to be told they are being let go – – or fired? (2) Are they still sticking to every other Tuesday or is it any day of the week? (3) with the mid year evaluations coming up, are they holding on the firings and layoffs until after the midyear reviews are presented?

General Motors is laying off 500 to 600 information technology workers. These job cuts affect employees globally. The company aims to reorganize its technology operations. GM stated this reorganization requires different skills and reduces overlap. This marks the latest round of white-collar job reductions for the automaker.

https://www.freep.com/story/money/cars/general-motors/2026/05/11/general-motors-layoffs-may-2026-job-cuts/90030898007/

Kyndryl has reported salary delays across several countries, citing 'technical issues' as the cause.
However, this appears to be a smokescreen for a liquidity crunch. While employees face financial uncertainty, the company recently spent $304 million on stock buybacks to artificially inflate share prices, effectively prioritizing shareholders over the very people who sustain the business.

General Motors announced a new round of layoffs. This adds to ongoing workforce reductions across the Big Three automakers. Richard W. Paul & Associates launched "Big Three Retiree." This free platform offers resources for Ford, GM, and Stellantis employees. It helps workers navigate pensions, buyouts, and retirement planning.

Detroit, MI

https://finance.yahoo.com/sectors/healthcare/articles/gm-announces-round-layoffs-michigan-183000073.html

Laid off from third party today. Phone calls being made, no calendar invite.

Berkley voters overwhelmingly rejected a Proposition 2 1/2 override. The measure failed by a nearly five-to-one margin. This outcome triggers position eliminations across multiple town departments. Layoffs will impact schools, police, fire, highway, and Town Hall. Seven teachers and several other employees are among those affected.

Berkley, Massachusetts

https://www.tauntongazette.com/story/news/local/2026/05/11/berkley-election-override-defeated-layoffs-class-sizes/90028501007/

In essence these layoffs and reorg have taken the winds out of my team. the morale is so low it’s un-existing. everyone sounds miserable, noone answers to queries. No one is motivated. my team was a top performing team before all of this. people are scared n rightfully so

anyone else experiencing the same?

Oregon educators protested outside Nike stores on Saturday. The "Just Sign It" campaign targeted Nike in Eugene and Portland. Protesters demanded Nike pay $2 billion to the state. They claim this amount was saved through a 2012 tax deal. Teachers linked Nike's tax deal to recent school district layoffs.

Eugene, Oregon

https://www.kezi.com/news/local/oregon-teachers-rally-at-nike-stores-after-200-layoffs-in-eugene/article_62e3e9b5-68d0-47c9-ab35-fff786798100.html

Dan Schulman made 34.3 million in 3 months in 2025 :He only became CEO on October 4, 2025 — so he earned most of that in just 3 months as CEO. Here's how:He received a $9.5 million RSU grant upfront just to compensate him for pay he forfeited when he left a prior investment firm to take the Verizon job. Then a $20 million RSU grant vesting in 2027, plus a $30 million PSU grant tied to performance — all loaded in at the start. Add his $1.5 million base salary and a short-term bonus target of 250% of base salary, prorated for the portion of 2025 he was CEO , and you get to $34.3 million fast.The CEO Hans Vestberg collected $31.2 million in 2025 compensation. So Verizon paid two CEOs over $65 million combined in the same year it laid off 13,000 workers.The system that allows this:The board sets pay. The board is elected by shareholders. But in practice, executive compensation committees at major corporations benchmark pay against other large companies — creating a ratchet where CEO pay only goes up, regardless of performance. Schulman got paid to leave his last job and came in loaded with equity from day one, before proving anything.
So to directly answer your question: he made $34.3 million largely through upfront equity grants and a golden hello — not because he earned it through results. The results come later, if they come at all.

Leon County Commissioners will discuss eliminating funding for the Council on Culture and Arts (COCA). COCA is a local nonprofit organization that funds year-round arts programming. Executive Director Kathleen Spehar warns this funding cut could cause layoffs and reduce services. County staff recommends transferring COCA's grant programs to the county’s Division of Tourism. This change aims to save costs and protect against future financial pressures.

Tallahassee, Florida

https://www.wctv.tv/2026/05/12/coca-warns-proposed-funding-cut-could-lead-layoffs-reduced-arts-programming-leon-co/

Council on Culture and Arts |

Starbucks is laying off 61 corporate tech workers in Seattle. This action results from a technology department reorganization. Affected roles include project managers and systems administrators. The layoffs are scheduled to begin on June 20. All impacted employees will be separated by August 28.

Seattle, Washington

https://www.seattletimes.com/business/starbucks/starbucks-lays-off-61-tech-workers-in-seattle/

Indianapolis Public Schools announced $17 million in central office cuts. This marks the district's second round of budget reductions this year. The cuts involve eliminating approximately 28 central office positions. Enrollment declines and an expiring property tax levy are driving these financial pressures. Overall, 87 employees have been reduced from the district's workforce.

Indianapolis, Indiana

https://www.wfyi.org/education/2026-05-11/ips-17-million-central-office-cuts-enrollment-referendum

The Akron school board approved $11 million in budget reductions. This action prevents a financial shortfall for the upcoming school year. Seventeen staff positions will be eliminated from the district. Six deans will move into available teaching positions. These measures aim to prevent future state financial oversight.

Akron, Ohio

https://www.beaconjournal.com/story/news/education/2026/05/12/akron-school-board-approves-11-million-cuts-avoids-teacher-layoffs/90034259007/

Providence is implementing changes to its behavioral health model. These changes involve the elimination of 40 positions. The layoffs affect staff at Sacred Heart. The company is restructuring its health services. Further details about the new model were not specified.

Spokane, WA

https://www.kxly.com/video/providence-announces-changes-to-behavioral-health-model-layoffs/video_249f9d38-19db-5cef-94fe-2af617887158.html

Online marketing company ZoomInfo plans to eliminate 600 jobs. This represents about 20% of its global workforce. The news accompanied weak financial results, sending the company's stock down 28% to an all-time low. ZoomInfo reported flat sales of $310 million in the first quarter of 2026. Investors are increasingly concerned about competition from artificial intelligence.

Vancouver, Washington

https://www.oregonlive.com/silicon-forest/2026/05/vancouver-company-will-lay-off-600-worldwide-stock-falls-to-all-time-low.html

The Twin Falls School District avoided staff layoffs. Superintendent Brady Di-kinson announced this to the school board. The district eliminated 18 positions through attrition. These cuts resulted from staff departures and retirements. Declining enrollment prompted these reductions and more are expected.

Twin Falls, Idaho

https://www.idahoednews.org/news/twin-falls-avoids-teachers-layoffs-cuts-staff-through-attrition/

MRI Software reportedly announced layoffs affecting its workforce. Up to 200 workers are reportedly impacted by these job cuts. The company specializes in real estate management and investment software. MRI Software is based in Solon, Ohio. The firm was previously known for its hiring practices.

Solon, Ohio

https://www.crainscleveland.com/real-estate/commercial/ccl-mri-layoffs-2026511/

GitLab announced a company-wide restructuring effort. The software company plans to reduce its workforce by June 1. This restructuring aims to meet the demands of the "agentic era." Changes include flattening management layers and reorganizing R&D teams. The CEO stated AI agents will automate internal processes, affecting roles.

https://www.businessinsider.com/gitlab-layoffs-memo-2026-5

https://www.retaildetail.eu/news/fashion/strike-at-nikes-european-distribution-center-in-protest-against-the-restructuring-plan/

Ghost jobs are online employment listings for jobs that either do not exist or are not vacant for which the company has no immediate intention of hiring. About 30% of companies use this tactic to collect resumes for future needs, create a false illusion of growth and to intimidate current employees into thinking their jobs are on the line if they don't improve their performance.
If you haven't heard back about a job you posted for, it's not you. It's them playing head games. Clifton has been doing it for years. Check it out for yourselves. You may find YOUR job listed.

Are we out of the woods yet with the low stock price yet? Looks good so far. Hopefully everyone onsemi layed off in the past can enjoy some of the benefits to the price rise when they sell and put the onsemi experience behind them.

Oh sure, Citi pull out what they think is a big win by luring in some major director from other banks here and there. They make sure that hits the headlines but as you can see, they don’t stay very long.

Its a money shell game. These guys move from company to company for more money each time they move. They have no interest in making Citi a home.

Let’s get the severance going as fast as the business combination. KthxBye

They have lost all moral respect for human beings .. They feel that giving people a $20 and or 30 $ merit increase per month is going to make someone satisfied and or work in the office ? Has this company lost its mind? The huge CAMPUS that they built in Belgrade only 5 years ago , and now giving people $20 raises per month? Are they serious? They are looking to pay for the same positions a salary that they were paying 12 years ago .. .They are still trying to pay people in Belgrade $800 a month... That story has sailed... Then from what everyone heard is they fired the president of the Labor Union in Belgrade just so the top players could run the company.. This company has become criminal . All people are doing now is coming into the office and socializing all day ... what a waste of work force .. Then again while the GM in Serbia and his buddies are all profiting while they can ... not sure what is going on but people cant live on a $20 pay increase.. this is so low .. this company should be prosecuted