#layoffs

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What is really wrong about the Lay Offs at Fannie Mae

Put your opinions below, I wonder what you think.

  1. Incompetent VPs (and managers) get rid of their best and brightest just to look better, and strengthen their position.
  2. The company is hiring, there are hundreds of jobs. Hiring priority shall be given to the laid off employees, so that they can transfer before their termination date. But laid off employees don't hear back, no communication at all.
  3. There is no financial reason, or even accountability for a lay-off. People are laid off, but soon after others are hired for the same position. For example SVP of Enterprise Modeling and Analytics position was eliminated in the recent past. But exact same position is recently posted - check JR2982 at Fannie Mae’s Workday “SVP of EMA”

Advice for folks new to lay offs

I have had over 20 tech related jobs over 30 years in tech related positions including FTE, contract and consulting since 1998. I have worked in 2 major tech hubs, worked for startups, small, mid, large and international corporations over the years. I have also had multiple other positions I voluntarily left for other positions, volunteered for layoffs, been laid off when I was on STD and after my partner had a massive stroke. I've been through almost all scenarios that are possible.

This is my second time with Cigna. I was contract between 2020 to 2021 and FTE from 2021 to the 2022 layoffs. I was rehired as a contractor in 2024 and converted again in 2026. I have had a career spanning almost 30 years and have been laid off or have had my contract ended over 20 times. I've learned many things over 30 years

First of all, no one is safe. It doesn't matter if you're the SME in your team. It doesn't matter if letting you go severely impacts your team. Sometimes it's personal, meaning that a group that has been working together over a long period of time will protect each other and find new positions within the company well before everyone else is even aware that job eliminations are happening.

No one should EVER assume you are safe. You should aways have an updated resume, a portfolio of work and a plan in place just in case a recession is happening. Make a plan to upgrade your skills if it's needed via unemployment services. Gather the documents you need to prove you need an upgrade. That will keep you in unemployment benefits well past when they lapse and will frequently pay for your tuition and school expenses. I rode out the 2008 great recession that way. I've also found that LinkedIn seems to work best. Nearly all my.positions came vis LinkedIn. Unfortunately, it only works if you're willing to have a paid account.

I do not recommend doing a profile picture (especially if you're disabled, an older woman, fat, etc. A esume with changes designed to obscure your age for the mature crowd especially. For women, change your profile name to something that screeners cannot use to guess your gender. When I adopted this approach back in 2019, my applications, LinkedIn mail or other approach landed me zero interviews for 9 months. After I instituted those changed, I had HR folks seeking me out and replies to jobs I applied for.

Do not count on receiving severance. Out of 20+ positions, Cigna is the only job I have ever had that paid out more than 6 weeks. Most do a month or nothing.

Immediately file for unemployment and fight it if you're denied. Many states will find for you if you have to appeal. I know this because I've lived in multiple states and had to file appeals. I've never lost one. In many states you can collect unemployment benefits and severance, even if you voluntarily took a retirement package. Fighting costs you nothing but some time and a bit of effort.


More information for thought

Ok, think people, these are the people that GP is hiring as advisors:

• The Opi--d Epidemic: McKinsey paid nearly $600 million in settlements to U.S. states and local governments after investigations revealed it helped opi--d manufacturers—including Purdue Pharma—devise strategies to boost sales of painkillers.
• Conflicts of Interest: Congressional inquiries exposed that McKinsey consultants frequently worked simultaneously for pharmaceutical companies and the federal regulators tasked with overseeing them, such as the Food and Dr-g Administration (FDA).
• Controversial Global Clients: The firm has provided consulting services to authoritarian governments, tobacco companies, fossil fuel producers, and Immigration and Customs Enforcement (ICE).
• Intent Laundering: Critics argue that corporations and government agencies hire McKinsey to provide an objective veneer ("intent laundering") for unpopular decisions, such as mass layoffs, cost-cutting, or circumventing regulations.

Yeah, this is a great business. :/

They don't care about you, really.


H1b

Why aren't h1b getting layoffs, many are really bad and they just won't at at all. Some don't even know git I'm surprised as to how they even get hired due to nepotism? As I see quite an few family members getting hired....fire all h1bs


Verizon CEO “it will take 4 to 6 years for SpaceX...”

That aged well. Dan, keep your head stuck in the sand and living in denial. It seems to be working for you. I guess we are gonna need some bigger layoffs now, right?

Qualcomm signs major 5G infrastructure deal with SpaceX for Starlink Mobile network

SpaceX plans to launch its full direct-to-device mobile satellite service in the first half of 2028, while initial terrestrial 5G and satellite rollout milestones are scheduled to start in 2027.

2027: SpaceX plans to begin launching next-generation direct-to-cell Starlink satellites using Starship and deploy tens of thousands of terrestrial base stations powered by Qualcomm Dragonwing Cellular Infrastructure chips.

Early to Mid 2028: SpaceX projects commercial "5G-quality" mobile satellite services for standard smartphones to go live.

https://www.qualcomm.com/news/releases/2026/11/spacex-selects-qualcomm-to-accelerate-starlink-mobile-s-nationwi

https://www.reuters.com/business/media-telecom/qualcomm-signs-major-5g-infrastructure-deal-with-spacex-starlink-mobile-network-2026-11-04/


The people doing the work keep getting sacrificed

I've watched the people actually producing results lose their jobs in every single layoff - and there's been plenty of those this year - while the management structure remains largely untouched. I guess they think the easiest way to reorganize is to remove employees and leave the bosses in place? But who'll be doing the work when most of us are gone?


Laid Off While Pregnant Today – Anyone Else Affected by the Recent Restructuring?

I disclosed my pregnancy to the company on October 6, 2027, and was notified this afternoon 11/4/2026 that my position was being eliminated as part of a company restructuring. I am in Data Science team, based in US.

The company has not provided clear information about the overall scope of the layoffs, including how many employees or what percentage of the workforce were impacted. Given the timing, I have concerns about whether this was truly part of a broader company-wide restructuring or whether the decision may have been selective.

If you are also impacted or know someone in your team/company are impacted by this round of layoff, I am appreciate if you can share :

  1. When were you notified of your layoff?
  2. Which teams, departments, or functions are you in? Were entire teams or functions eliminated, or were individual employees selectively impacted within otherwise retained teams?
  3. Do you know whether other departments were also affected by the layoffs?
  4. Do you know approximately when the layoff decisions were made or put into effect?
  5. Was your position actually eliminated, or were your responsibilities reassigned to someone else?
  6. Were layoffs limited to certain offices, locations, or business units, or were they company-wide? If anyone knows

Any information, even small datapoints, would be greatly appreciated. Thank you for helping me understand what actually happened.


University Job Cuts Due to Budget Shortfalls

Several universities are implementing significant personnel reductions to address budget deficits and financial pressures. The University of Oregon plans to eliminate over 100 positions, with a substantial portion being vacant roles. The University of Tulsa is cutting approximately 9 percent of its staff, primarily in central administration. Seton Hall University has eliminated 46 administrative roles as part of a broader cost-saving initiative. Stockton University is reducing its workforce by 21 positions due to enrollment declines and reduced state support. Jackson State University is cutting eight staff jobs due to federal funding reallocations.

Eugene, Oregon

https://www.insidehighered.com/news/quick-takes/2026/11/03/latest-job-cuts-impact-both-public-and-private-campuses


Revenue Growth Down and You

I can't imagine another layoff before and during 2027 helping revenue growth during 2027. I feel like this is more of a failure to launch new products/being competitive in our market spaces. Over on the developer side, a lot of the mainstay FIS products are being partly sunsetted by having off shore teams just doing security patching with no new features. To me, they are probably accounting for this in their guidance and hoping for new products to pick up the head wind in 2028.

Just my 2 cents. Trying to make sense of the call as a whole.


City of Cedar Rapids Announces Staff Reductions

The city of Cedar Rapids is implementing job cuts due to legislative changes impacting property taxes. These changes will create a significant budget shortfall for the city. Approximately 25 positions will be eliminated by early next year. The city council has approved these measures, including a policy to prevent bumping by senior staff. Core services, police, and fire departments will not be affected by these reductions.

Cedar Rapids, Iowa

https://97x.com/ixp/675/p/city-announces-25-job-cuts/


Web3 Layoffs Driven by Financial Strain, Not Just AI

The Web3 industry is experiencing significant job cuts, with many companies citing AI as the primary reason for layoffs. However, a substantial portion of these companies admit that financial pressures are the true underlying cause. This trend is reshaping the employment landscape across various sectors, including technology and finance. The rapid and severe nature of these layoffs has left many employees blindsided and struggling to find new opportunities. The industry's future viability is being questioned as these challenges persist.

United States

https://www.panewslab.com/en/articles/01a1a4a3-593f-7285-ae7d-f74c0fa127ec


Revolut Reduces Workforce

The fintech company Revolut has recently dismissed a number of employees. These layoffs are reportedly in line with previous workforce adjustments made by the company. The exact number of affected staff has not been disclosed. This action is part of ongoing performance-related staffing changes.

London, England

https://www.fnlondon.com/articles/revolut-cuts-dozens-of-staff-in-latest-performance-cull-149698c6


Sherritt Halts Refining Operations, Lays Off Staff

Sherritt International Corporation is temporarily laying off approximately 280 employees, representing 47% of its Canadian workforce. These layoffs are expected to last around 90 days as the company works to restore its metals refining operations. The company suspended refining activities earlier this year after its feed inventory was depleted. During the layoff period, production of ammonia fertilizer and sulfuric acid will continue, along with necessary maintenance and safety activities. Sherritt is pursuing emergency licenses from the U.S. Treasury to restart its Cuban and Canadian operations.

Toronto, Ontario

https://www.businesswire.com/news/home/20261103544933/en/Sherritt-Announces-Temporary-Workforce-Layoffs-as-it-Advances-Path-Toward-Restoring-its-Metals-Refining-Operations


Brockton Faces Budget Crisis, Job Cuts Loom

Brockton is facing a significant financial shortfall of $18 million. City leaders will use depleted reserves to approve tax bills. This action is a temporary measure to address the immediate budget gap. Officials have warned that layoffs and service cuts are now being considered. The city is scrambling to find solutions to its severe financial problems.

Brockton, Massachusetts

https://www.enterprisenews.com/story/news/local/2026/11/04/brockton-budget-crisis-deficit-pensions-troy-clarkson-mayor-moises-rodrigues/92054897007/


Plant Closure Leads to Job Losses

An automotive supplier will close its Cottondale facility. This closure will result in the elimination of 83 jobs. The facility is expected to cease operations by the end of the year. This news comes as part of a broader update on local events. The article also mentions election results and a basketball game.

Tuscaloosa, AL

https://patch.com/alabama/tuscaloosa/tuscaloosa-county-election-results-manufacturer-layoffs-cottondale