#layoffs

Employees are doubled in places after the hilcorp thing. Why?

Praying for an exit package.

Oregon Health Authority leaders have canceled planned layoffs for nine employees. This decision comes after initial announcements and internal employee concerns about management's handling of budget issues. The agency cited ongoing discussions with the Governor's Office and state budget partners for the change. While these specific layoffs are averted, the agency faces significant future budget challenges and potential service cuts. The exact size and cause of the agency's budget deficit remain undisclosed.

Salem, Oregon

https://www.opb.org/article/2026/07/17/oregon-health-authority-cancels-layoffs-budget-shortfall/

The most amusing part of the article is the premise itself that IBM can re-achieve any sort of relevance after this decimation.

https://www.barrons.com/articles/ibm-stock-price-fall-sell-87657335

The blue chip’s biggest wipeout on record will force the company to reinvent itself—again.

By Mackenzie Tatananni |
Updated July 17, 2026, 4:27 pm EDT / Original July 17, 2026, 1:00 am EDT

IBM has been forced to reinvent itself many times in the past. After its biggest wipeout on record this past week, it will have to do so again.

Big Blue had been riding high. Yes, there were problems in consulting, as signaled by Accenture’s woes, and in software, tipped off by weakness in ServiceNow and its sector peers. But the stock was trading at an all-time high as recently as June 2 as investors looked at the company’s near-monopoly in mainframe computing, its quantum computing effort, and its prospects as an artificial-intelligence winner.

They were wrong. IBM stock tumbled 25% this past Tuesday, its worst single-day drop on record, following a rare pre-announcement of its quarterly results. Such a move is highly unusual for the company, which is traditionally disciplined when it comes to financial reporting. The last time IBM pre-announced earnings was in October 2008, in an effort to reassure investors it was on track to meet targets during the global financial crisis.

Investors faced a different reality this time around, as IBM posted second-quarter earnings and revenue that missed Wall Street forecasts. While there were plenty of problems—slowing software and consulting sales, a massive reallocation of technology spending by its customers to chips, servers, and other AI needs—the biggest drag on the company’s performance was its infrastructure business. That includes its legacy mainframes—the massive computers enterprises like banks and credit-card networks rely on to process billions of calculations and transactions in real time.

Big Blue is undoubtedly the dominant force in this space. A 2022 study by Celent, commissioned by IBM, found its Z Mainframe Servers line processed more than half of the world’s transactions by value. But that didn’t help the division’s performance during the second quarter. Infrastructure revenue fell, as expected, but the 7% decline was significantly faster and harder than IBM had anticipated. Not only did fewer companies buy the actual mainframe hardware, they also bought less of the high-margin software required for tasks like banking and credit-card payments.

CEO Arvind Krishna attributed the results to poor execution. “We did not adapt and move quickly enough, and numerous large deals failed to close on the timelines we expected, driving the majority of our shortfall,” he wrote in a letter to shareholders.

The 25% drop was massive—and partly justified, even as it erased nearly $70 billion in market capitalization. “The stock had become a crowded AI infrastructure winner and was trading near all-time highs, so any sign of execution issues was going to get punished,” says Dan O’Regan, managing director of equity trading at Mizuho Securities. “That said, a move of this magnitude suggests the market is now pricing in a much more prolonged slowdown than what management has implied.”

It didn’t help that analysts had set high expectations heading into the print. Morgan Stanley, for one, had predicted upside in infrastructure and software that was already priced into the stock. Oppenheimer, which downgraded the stock on Wednesday, had anticipated “no surprises in business trajectory,” making the sudden pre-announcement a true blindside.

Analysts were quick to move to the sidelines following IBM’s earnings miss, asserting that Big Blue would have to lean on major acquisitions or close deals that slipped past the quarter’s deadline to recover lost ground. Now Oppenheimer is questioning the company’s ability to achieve double-digit software revenue growth through 2027. The 5% growth in the latest quarter was sharply below the firm’s 12% estimate.

The bigger issue might be whether IBM’s infrastructure business itself is being disrupted. Even before Tuesday’s plunge, IBM stock had been lagging behind the broader market after stumbling earlier in the year as fears of AI disruption began to take hold. One of the most significant drops occurred in February, when AI start-up Anthropic unveiled a COBOL modernization playbook for its Claude Code tool, claiming it could dramatically streamline updates to the outdated programming language that runs on IBM mainframes. Historically, the immense complexity and cost of migrating off these systems protected IBM’s highly profitable mainframe business—a protective moat AI now threatens to dissolve.

IBM stock closed on Wednesday at 16.54 times 12-month forward earnings, its lowest price/earnings ratio since June 2024. But that says less about where IBM is now than where it was before. As recently as June 2, the stock was trading for more than 25 times, above the S&P 500’s 21.52—a premium valuation that might not have been deserved.

“Lower prices make an asset more attractive,” BNP Paribas analyst Stefan Slowinski says. “I just caution investors that, out of all the companies I cover, IBM probably has the lowest organic growth currently and the lowest organic growth outlook. That needs to be reflected in the valuation.”

Shares plunged 26% by Friday’s close, capping off their worst week in history. As tempting as it may be to scoop them up after such a tumble, IBM still has a lot of work to do.

In the worst-case scenario, investors fear that IBM’s enterprise clients—massive businesses with sprawling IT setups—are redirecting their budgets toward AI instead of Big Blue’s traditional offerings. At best, the company was simply caught off guard by a sudden capital expenditure shift, as Krishna asserted, and can reclaim that lost ground in coming quarters.

Slowinski is one of the most bearish voices on the Street, rating the stock at Underperform. “IBM’s strategy is to use its cash flow to acquire higher-growth software assets in order to improve its growth profile,” he says. “But it has a business in consulting, in software, in mainframe, where all of them are low-single-digit organic growers. And the prospects of that improving organically is very slim.”

As Mizuho’s O’Regan sees it, the setup from here depends less on the AI narrative and more on management proving it can consistently execute.

“The market wants proof that this is an execution stumble, not the beginning of a structural slowdown in demand,” O’Regan explains. “As a stock, the days of getting the benefit of the doubt are probably over for now.”

At least until the next metamorphosis begins to take shape.

If Project Dolphin is backfiring and employees are no longer being forced between re badging with a vendor or severance (not enjoying that at all, nope), how will they be able to pay off everyone? The remaining Franklin Templeton legacy staff that was scheduled for layoff on 04/27/2026 was re badged over to other Transfer Agent mutual funds, were told that there was no time certain for their continued employment. They were needed to support staffing that was not meeting SLAs. They keep training them to handle more mutual fund clients because even with this talented, tenured help, they are still not meeting goals. It seems likely that they will not be laid off, but who can tell? No savings there, either. Because the business math ain't mathing, Project Dolphin is failing. FIS cannot outrun their sh---y leadership. Glug, glug, glug.

Look around. We see the same story repeated daily: broken lives, shattered families, and a machine fueled by corporate greed that crushes anyone in its way.

And yet—people still believe a heartfelt post will fix it. "Dan, look into this." "Board, address that." As if they haven't already made their decision. As if they're waiting for our input.

Let's be honest: that hope is delusional.

You don't reason with a system that profits from your pain. You don't negotiate with people who got to the top by ignoring empathy. They wear human faces, but they operate like machines—cold, calculating, and utterly indifferent to your suffering.

They monitor these forums? Yes. They have teams reading every word. But not to help. To laugh. Or worse—to ignore you completely. To them, you are background noise. Ants on a highway. Insignificant.

So stop wasting your breath. Stop begging for mercy from people who have none.

The only thing they respect is pressure. Visibility. Disruption. Organize. Build a movement that makes them uncomfortable. Make noise they can't ignore. Get media attention. Force the conversation into the open.

Wake up. Not tomorrow—today.

Because while you're typing another plea, they're counting their money. And time is running out.

If everyone gets laid off, who’s left to develop the product and fix bugs? It’s already tough. Also, AI tools like Claude don’t reliably do what you ask.

Mike Lyons has a Glassdoor approval rate of 70, while Takis has a 41. Takis, our new ceo, has a rating lower than most other CEOs. Is he this bad? Thoughts? Need to plan for my next step if he’s indeed so much worse than Mike Lyons…

There were a bunch of layoffs on 6/24 and another set of layoffs on 7/6. How often are these layoff rounds happening now? They used to seem like every 3 months but they are happening more frequently now.

Q. Why did the Japanese car companies beat the American car companies ?

The answer may surprise you but this is why T is dying as a whole due to layoffs.

The Japanese car companies had eight people rowing the boat and one person steering .
The American car companies had eight people steering, and one person rowing.

When the American car company lost the race, they fire the person rowing the boat.

That is the thinking behind how management and HR and how people are picked .

Can we talk about this? Because I'm struggling to see how this is fair.

INC USUI team, has money for lavish dinners, unlimited upscale travel, "collecting points," cruise dinners, events... you name it. But somehow when it comes to their own TIS USUI counterparts? Layoffs.

Some people got told their roles "weren't sustainable." Weren't sustainable, but the boat outings were?
Make it make sense...........
If there's money for unlimited daily fine dining and over spend, there is money to keep people employed. Let's stop pretending this is about resources. It's about priorities. And right now, the people actually doing the work are not the priority.
You don't get to blow money left and right and then turn around and lay people off like it's a budget issue. That's not leadership. That's a failure of judgment, plain and simple. Shame on your leadership.
To everyone who got impacted, this is not on you. This says nothing about your worth or your work. You deserved so much better than this.
#Layoffs #Accountability #WorkplaceCulture #Leadership

https://www.nj.gov/labor/assets/PDFs/WARN/2026_WARN_Notice_Archive.pdf

Round 3 - June 9/18/26 = 35

Round 2 - June 8/7/26 = 156

Round 1 - May 8/7/26 = 121

Recording 24 consecutive quarters of staff reductions, the current headcount stands at 197,000 employees, reflecting a decrease of 15,000 positions compared to the previous year. Over the past six years, under the leadership of CEO Charlie Scharf, the organization has eliminated a total of 79,000 roles.

https://www.msn.com/en-us/money/other/wells-fargo-warns-of-additional-job-cuts-as-cost-cutting-drive-continues/ar-AA284NyR?ocid=msedgntp&pc=U531&cvid=f393bcd159ae452af7868dfd2f6ebb02&ei=9

No one wants to hire you because, they have AI. AT&T doesn’t want to keep you because you don’t live in hub. What a bad thing to be a T employee.

The company has been using AI buzzwords and based on what we have seen internally, nothing has changed. RL uses pre scripted sentences and Sydney, HealthOS, data / information / insights (stop it), make it easy for members but all of the upside has been by cutting workforce or moving work at cheaper contract rates to vendors (nothing to do with AI), and all this has forced rest of the team to pick the load. I am sure there was waste - but attributing anything to AI or technological transformation is BIG overkill. There is nothing new, no real tech or AI strategy that has been shown since RL and gang came in. He just manages up at cost of real frontline workers. We see it every day.

There is nothing new, people are frustrated, new tech leaders are clueless and trying to figure out how to stay relevant by deliberately telling all things are broken, no respect for anyone with prior knowledge. I am sure in another 6 months to a year questions will be asked and leaders will blame each other. Front line managers and engineers / workforce is feeling the pressure and looking for leadership which does not exist. It’s a shame how the company is being run into ground.

Which areas being affected?

Another reorg. Sold as agility, felt as whiplash. Leadership didn’t even wait for the planned date — they tore up a structure barely a year old and rebuilt it mid-year, with zero regard for what that costs the people living through it. The stated reason: “boost software deployment.” The real reason is simpler and darker.
IBM has spent years buying growth instead of building it. Every quarter, another acquisition gets folded in, rebranded as “software strength,” and used to justify the next reorg. Strip out the acquisitions, and the growth mostly disappears. This isn’t a strategy. It’s a treadmill, and shareholders finally noticed — the stock just had its worst single day in the company’s history.
The money to keep buying is running out. Debt keeps climbing. Buybacks have been frozen for years because the company is still “digesting” its last purchase. Cash meant for growth is quietly being redirected to service the last deal, not fund the next one. When a company can’t return money to its own shareholders, it’s telling you something about how thin the cushion has gotten.
And the sales playbook is exhausted. For years, big renewals were “won” by reshuffling the same contract — discount here, markup there, call it a signing. Do that once, fine. Do it a third time on the same account, and there’s nothing left to move. Customers aren’t d-mb. Many are also sitting on mountains of software they were sold and never deployed. Asking them to sign another restructuring on top of shelfware gathering dust isn’t selling — it’s asking for patience that ran out a while ago. That’s the real story behind “large deals failed to close.” It was never about speed.
So here’s what a summer reorg actually buys: nothing, fast. Territory changes take a quarter just to stabilize. Real deals take six months to a year to close. Launch a reorg in July, across a holiday season when half of Europe is offline, and demand results in Q3 — and you’ve built a machine engineered to fail on schedule.
Except failure doesn’t cost everyone the same. IBM books the reorg as a clean, one-time charge and moves on. Sellers absorb the real cost: quotas that don’t shrink to match a broken calendar, commission checks that quietly get smaller because targets were unrealistic from day one, accounts inherited mid-relationship with no memory of what was promised or already burned. When the numbers come up short, it won’t be called “the reorg cost us a season.” It’ll be called underperformance. The same event, blamed upward as strategy and downward as failure — a strategy that costs nothing on the way in and everything on the way out, just not for the people who designed it.
That’s the pattern worth naming out loud: a company that has run out of things to buy, running out of ways to reshuffle what it already sold, paying for both by quietly shifting the bill onto the people closest to the customer.
Another reorg won’t fix that. Only shipping what was already sold will.

I don’t want Dan and Alfonso to get on stage next time and complain about the terrible customer experience on the app or mobile site.

They chose to retain the underperforming team while laying off smart people. How did they decide to keep Adam C over other Senior Directors? And Chris P’s underperforming team remains completely intact.

The buck stops with them going forward. They can’t blame the former leadership team anymore.

layoffs across the sw org again…

A U.S. judge has refused to stop Meta Platforms from proceeding with layoffs affecting 26 employees. These workers claim the company used AI tools to unfairly target them for job cuts due to disabilities or medical leave. The judge stated the employees did not demonstrate irreparable harm to warrant an emergency injunction. Meta denies wrongdoing and asserts human decision-making in the layoff process. The company is in the midst of reducing its global workforce by approximately 10%.

Oakland, California

https://wkzo.com/2026/07/17/us-judge-wont-block-meta-from-laying-off-workers-who-filed-ai-discrimination-lawsuit/

Electrolux is transitioning its Anderson plant from refrigerator production to laundry equipment manufacturing. This significant change follows a North American partnership with Midea, a Chinese appliance giant. Over 1,200 workers were laid off as part of this operational overhaul. The company plans to retool the facility, with production expected to resume in early 2027. Many displaced workers are finding new employment opportunities in the local manufacturing sector.

Anderson, South Carolina

https://www.andersonobserver.com/news/electrolux-layoffs-near-complete-overhaul-for-new-products-set-to-begin

A little more detail on impact in Seattle,WA market; 54 employees https://www.seattletimes.com/business/verizon-to-lay-off-54-wa-employees/

So I completely understand the need to serve members, the huge queues, the need to work work work. But we are losing the human touch that case management is supposed to represent. Based on the current direction it is - treat them like cattle - find small things and peace out at 90 days. Something comes up, member has real needs welp too bad we don’t care cause other people waiting too. A case needs to stay open longer - bring it to rounds so they can tell you to keep up the good work. Plus we will ask for you input about what is working, what is not but no one cares at all in reality. Just sit there, shut up and get it done…. How we don’t care…. Mental health yeah we don’t care….
As someone who loved this job and this workplace when she started, the cracks in the wall are showing and frankly there isn’t enough stucco in the world. The rot in this place start with mismanagement and lack of direction at the top and goes down to mid and lower tier management for the most part. There are exceptions and I am grateful for having experienced the other side. Honestly if you think you can hold this place together with duct tape, baling wire and AI go for it. Just approve the VSP and let us go now. So we have the same luxury to leave you with sorry bout your luck get it done.
All I know is between anxiety and extra meeting’s to micromanage further servicing the members I am here for gets harder by the day. I can only assume this tactic is to attempt to not pay severance because it’s definitely not helping morale!
Oh but Thank freaking goodness it’s Friday!

Everyone's exhausted hearing the word AI. It's in every memo, every excuse for why headcount keeps shrinking. Fine. Let's actually use it, then. Not to write emails faster. To see the picture clearly.

We used it to pull profit numbers back to the year this company formed. Not a single loss year in over two decades.

We used it to compare executive pay against the exact years benefits got cut.

We used it to see that severance costs are often a fraction of what gets paid out in dividends in a matter of weeks.

We used it to understand who stock buybacks actually benefit, and it is not the person worried about their next paycheck.

We used it to recognize known corporate playbooks: titles structured to strip organizing rights, restructuring that lines up with headcount targets already decided.

We used it to confirm national union density has been eroding for seventy years, and we're living the tail end of it.

We used it to separate real savings from cost shifting, franchise conversions and rehire-at-a-lower-rate schemes that look like savings but are wage suppression with extra steps.

None of this required insider access. It's all public, buried under enough jargon that reading it feels like a second job.

So if they're going to hand us the tool and tell us to use it or get left behind, use it. Educate yourself on the company you actually work for. Don't take what they hand you in a rally with the claps and the p-m poms as the whole picture. Pull the numbers. Pull the board backgrounds. Pull the org chart changes. Do the research yourself, not because someone told you what to think, but because you finally can see it for yourself.

Once enough of us see the same picture, at the same time, the direction gets a lot less complicated.

Roberta R takes the helm, Jess G. out. The rest of the team looks “safe”. Wonder what other units consolidated in the next few months.

With such major org changes of VCG, will VCG safe for some months?

No one notice this? Only covered regionally where the doors closed, but seems like a big deal.

From what I heard, Human Capital basically told leaders to take a training or read a book if they’re nervous about being laid off in the future. The focus should he gaining new skills. In other words, prepare yourself because it could happen. They’re also still playing the “we don’t know” game when asked about the India office. From what I heard, the earliest timeline is T2 of next year. Let’s be honest: with all the regulatory, legal, and logistical hoops involved, there’s no way they don’t already have a pretty clear idea of the plan.

So they are just assuming everyone will take the job at the indirects ? Regardless if anyone does Verizon still needs to own up to the thousands not 500. BTW how many fraud transactions are going to get pushed through if the rep is leaving ? I can’t believe how Verizon handles layoffs when so many will be there for another month. What a shrinkage nightmare !

Thank you for laying me off. No, I do not want to learn about your earnings while I struggle to find a new job. WTH?

My thoughts...
Collins Aerospace experienced a significant workforce reduction on June 11, and there is ongoing speculation that additional layoffs may occur between September and November. Concerns have been raised regarding the effectiveness of the current leadership team, as uncertainty about future organizational changes appears to be affecting decision-making and overall confidence within the company.

Employees have also expressed concerns about operational and product-related challenges, including reported issues affecting certain brake programs. There is a perception among some that senior leaders are not being sufficiently transparent with customers and are shifting accountability to lower levels of the organization. While the company emphasizes its commitment to ethics and values, many employees feel these principles are not consistently reflected in business decisions.

Continued workforce reductions and restructuring activities may provide short-term financial benefits, but they have also had a notable impact on employee morale. Additionally, the loss of experienced personnel risks creating a significant drain of institutional knowledge, which could affect long-term operational effectiveness and sustainability.

While many recognize that organizational change may be necessary, there is a growing belief that meaningful improvement will require renewed leadership and a clearer strategic direction from the executive team.

Curious to know what's going on with MBP (Modern Banking Platform)? It seems like it got hit with layoffs recently. I've heard rumors about it struggling lately to gain traction as a proven core solution.

Wondering when severance is actually paid? Just got my last paycheck before the termination date. Any idea when the documents would be sent and when they would pay out severance?

I find it highly oxymoronic (with the emphasis on mo--nic) that we have these departments that take their work so seriously, use unbelievable amounts of academic rigor to try and solve problems and come from the highest caliber business schools and academic institutions while we see stock prices in free fall and continuous service area exits and RIFs. Maybe things need to be simplified, not iterated with more rigor and wonderfully polished vocabulary in presentations. This place is full of contradictions.

A significant number of employees at a major steel plant are being laid off. This reduction in workforce is attributed to a challenging economic climate impacting the industry. The company cited decreased demand and increased operational costs as primary reasons for the decision. Affected workers will receive support packages as they transition. This move signals ongoing difficulties within the steel manufacturing sector.

Whiting, Indiana

https://www.insideindianabusiness.com/articles/bp-union-dispute-continues-as-local-officials-call-for-end-to-lockout-at-whiting-refinery

Temco Logistics is reducing its workforce by 60 employees. This action is a direct result of the company discontinuing its flatbed delivery operations. The logistics firm is winding down this specific service. These job cuts are occurring in Hialeah.

Hialeah, Florida

https://www.bizjournals.com/southflorida/news/2026/07/17/logistics-company-temco-to-lay-off-60-employees.html

Laptops are being rationed and recycled. Yes, recycled. So that laptop you just got might be 3 years old and won't handle the windows 11 upgrade. Team members are going through three four and five laptops before they find one that can handle Windows 11.

smh.

They want you to come into the office but they don't want to give you a computer.

Meanwhile we have all these groups pointlessly tokenmaxxing.

Technology has always been pretty bad at Wells Fargo. This is unacceptable. How are we going to sell products customers without compute.

We need to fire a lot more people. Unfortunately we seem to be firing the wrong ones