#layoffs

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Positive Operating Leverage: How BNY Mellon Quietly Executes the Classic Cost‑Cutting Script to Drive Stock Price

BNY Mellon’s transformation now resembles a tightly coordinated execution of the McKinsey cost reduction playbook, and employees on TheLayoff.com have been documenting the pattern in real time.

What appear to be uncoordinated, isolated decisions — RTO pressure, minimal merit increases, shrinking teams, selective backfilling, and quiet office closures — align directly with the consulting frameworks used to drive sustained operating expense reduction. This is all by design.

The Platform Operating Model (P-O-M) is the structural engine behind this shift. By standardizing processes, consolidating technology, and centralizing work into platform hubs, P-O-M enables organizational delayering, automation, and location strategy at scale. Employees describe this as work being “platformed,” automated, or reassigned to lower cost regions, particularly Pune.

International labor laws also shape the strategy. In the U.S. and U.K., strict notification rules, severance expectations, and WARN Act thresholds make large layoffs expensive and highly visible. In contrast, offshore hubs operate under more flexible labor regimes, allowing faster scaling, easier restructuring, and lower long term cost commitments. This is why employees increasingly observe that even offshore roles are not permanent; as the cost model scales globally, work continues migrating to the lowest cost compliant jurisdiction available.

RTO, low raises, and real estate consolidation are deliberate levers within this model: RTO increases voluntary attrition, minimal wage growth suppresses labor cost inflation, office closures reduce fixed costs and concentrate work in platform hubs.

The TheLayoff.com threads reflect this architecture in motion — “stealth layoffs,” “jobs shifting offshore,” “constant reorganizations,” and “RTO used as a filter” — all consistent with a long horizon, platform driven cost transformation strategy.


Tariff Refunds

Now that the Tariff refund portal is open for the as-deemed unconstitutional, "Liberation Day / Reciprocal Tariffs" from a year ago, Canon USA will be fully eligible for likely hundreds of millions in refunds for all the imports from Japan. We know those refunds won't go to the end users (because only Costco is apparently doing that). But the question is, will the employees see any of that? Or will it all just go into Canon coffers as backdated profits to make the shareholders happy?

Sadly, I think we know the answer...


IT Companies Announce Significant Job Cuts Early 2026

Over 73,200 jobs were cut across 95 IT companies in Q1 2026. The Walt Disney Company, Meta Platforms, Oracle, and Snap Inc. announced major layoffs. Disney is preparing to eliminate approximately 1,000 positions. Meta reduced 700 roles and plans further cuts in California. Oracle Corporation intends to cut 20,000 to 30,000 jobs globally.

https://www.thestatesman.com/business/over-73200-it-layoffs-recorded-in-first-3-months-of-2026-1503583644.html/amp


Morrisons Announces 200 Job Cuts in AI-Driven Restructuring

Morrisons plans to cut approximately 200 roles at its Bradford head office. These reductions will affect positions across marketing, commercial, and technical teams. The layoffs are part of a multi-year transformation strategy. This initiative focuses on accelerating AI adoption and automation within the business. Morrisons aims to strengthen central functions and improve efficiency in challenging market conditions.

Bradford, UK

https://www.thestreet.com/employment/127-year-old-retailer-confirms-more-cuts-in-2026-morrisons


New York Fed: AI Transforms Work, Limits Immediate Job Cuts

A new study from the Federal Reserve Bank of New York indicates AI will reshape jobs rather than eliminate them immediately. The report suggests AI will augment more roles than it replaces in the near term. White-collar occupations, including finance and technology, are most exposed to AI tools. This technology is expected to boost productivity without a proportional increase in hiring. However, long-term effects on employment and wages remain uncertain.

New York, NY

https://www.thestreet.com/employment/ai-wont-trigger-mass-layoffs-yet-fed-study-says


Trumer Brewery Cuts Jobs, Berkeley Facility Shuts Down

Trumer Brewery initiated layoffs for its Berkeley operation. The company is preparing to close its facility there. Thirty-three workers will be permanently affected by May 29. The Gambrinus Company owns the Berkeley property. Firestone Walker Brewing Co. acquired Trumer's U.S. operations in March.

Berkeley, California

https://www.msn.com/en-us/foodanddrink/foodnews/trumer-brewery-starts-layoffs-as-berkeley-closure-nears/ar-AA214AFZ


Moved to Cognizant - what happens to our 401K match

Has anybody determined what is happening to our 401K match that we are entitled to up to our "transfer" date of 04/12/2026? This was not a voluntary resignation so I would assume we are still due our match. So do I have to leave my 401K with Fidelity until 1st qtr 2027?


Iron Galaxy Studios Cuts Jobs Citing Market Conditions

Iron Galaxy Studios has cut an unknown number of roles. The company cited current market conditions for the decision. This follows 66 positions cut by the studio last February. The developer stated it cannot sustain its current team size. It is adapting to what it calls a "new normal" in the industry.

Chicago, Illinois

https://www.gamesindustry.biz/iron-galaxy-studios-announces-further-layoffs-unknown-number-of-staff-affected


Oracle Restructures, Nashville Engineers Laid Off

Technology companies globally laid off over 80,000 employees recently. These job cuts also impacted workers in Tennessee. Nashville-based Oracle Corp. engineers were among 25,000 company layoffs. This restructuring aims to invest in artificial intelligence infrastructure. Amazon also laid off 16,000 workers, including some in Nashville.

Nashville, Tennessee

https://www.tennessean.com/story/money/tech/2026/04/20/tech-layoffs-tennessee-workforce-ai/89610365007/


San Diego City Budget Shortfall Leads to Employee Layoffs

The City of San Diego faces a $120 million budget deficit. This shortfall is projected for fiscal year 2027. Mayor Todd Gloria's draft budget includes hundreds of employee layoffs. Cuts will affect library hours, recreation centers, and arts grants. Public safety and road repairs remain top priorities despite reductions.

San Diego, California

https://fox5sandiego.com/news/local-news/mayor-gloria-budget-san-diego/


Peloton CEO Exits as Company Cuts More Jobs

Peloton announced its CEO Barry McCarthy resigned in May 2024. The company also announced further job reductions. About 400 global team members were impacted. This move aims to cut over $200 million in annual costs. Reports indicate private equity firms eye a potential buyout.

https://www.theverge.com/24025034/peloton-bike-treadmill-connected-fitness-news


John Deere Recalls Hundreds of Employees

John Deere is recalling employees across three U.S. facilities. Nearly 50 workers will return in April, adding to over 300 recalled in 2026. This follows increased demand in construction, forestry, and drivetrain production. The company previously laid off over 2,000 jobs in 2024 and continued cuts into 2025. Tariffs and legal challenges, including a right-to-repair settlement, still impact the outlook.

https://megaproject.com/news/machinery/john-deere-rehires-workers-but-tariffs-lawsuits-and-past-layoffs-still-loom


Industrial Plastics Group Cuts 74 Jobs

Industrial Plastics Group LLC laid off 74 employees. The company is located in Pickens County, South Carolina. Its address matches a TaylorMade golf ball factory. The layoffs took effect on April 10. Officials and the company offered no comment.

Liberty, South Carolina

https://www.postandcourier.com/greenville/news/pickens-county-company-lays-off-workers/article_f9d8d6ff-4d1a-4cab-b0f0-46c07fb41627.html


IRS Cuts 6,700 Jobs, Impacting Tax Collection

The IRS plans to lay off 6,700 employees. This action could strain tax collection resources. It may also impact government revenue and the budget balance. New tax policies for 2025 include a higher estate tax exemption. These changes lead wealthy investors to focus on tax planning.

https://intellectia.ai/news/stock/irs-layoffs-of-6700-employees-strain-tax-collection-resources


Pennsylvania Region Sees Job Reductions

Southeastern Pennsylvania saw a significant increase in job eliminations. Companies removed 2,800 positions during the initial three months. The number of businesses making cuts was lower. However, these fewer entities caused greater overall job losses. This indicates a concentrated impact on the workforce.

Philadelphia, Pennsylvania

https://www.bizjournals.com/philadelphia/news/2026/04/19/philadelphia-job-losses-first-quarter.html


What they broke

They decided everything about the old way was bad. So they changed it all. Constant layoffs now. A reorganization that failed completely. Revenue keeps dropping. All they focus on is cutting costs. Ethics failures keep happening. Promotions go to the wrong people. The environment is toxic. Fear and distrust are everywhere. Leadership never tells us anything useful. If you hated what Ford used to be, you'll love what it's become. The rest of us are just watching it fall apart.


U.S. Labor Department Reports Fewer New Unemployment Claims

Applications for U.S. unemployment benefits decreased last week. Initial claims fell by 11,000 to 207,000. This marks the biggest one-week drop since February. The data suggests the labor market is stabilizing with limited layoffs. Continuing claims, however, rose to 1.82 million.

https://www.westhawaiitoday.com/2026/04/17/nation-world-news/us-jobless-claims-fall-to-207000-signaling-low-layoffs/


Firms Reassess AI, Rehire Workers

Companies are laying off workers after adopting artificial intelligence. This trend is known as "AI boomerangs." These same companies later rehire staff. Leaders reassess AI capabilities and limitations. Robert Half expert Travis Laird discussed this phenomenon.

https://www.azfamily.com/video/2026/04/16/ai-boomerang-hiring-trend-why-companies-rehire-after-ai-layoffs-generation-ai/

Phoenix, AZ


I feel bed for the younger generations

How do you settle down in this environment? How do you buy a house, have kids, make any kind of long term plan when your job could disappear next month? Endless layoffs mean endless uncertainty. And endless uncertainty means you can't build a life. Working at Dell offered a certain security for many of us that the new generations don't have.


There's life after Macy's

A good life. I was so used to that place that I stayed way too long when I could have been working at a place that has better pay, is actually staffed well, and doesn't have managers who get off on yelling at the rest of us. Give it a try, folks. There are much better employers than Macy's.


Contract Losses Spur Supply Chain Layoffs

Supply chain companies recently announced over 800 job cuts. These layoffs affect warehousing, trucking, and last-mile delivery operations. Contract losses, non-renewals, and facility closures are primary reasons. Saddle Creek Logistics, Ryder System, and Day & Ross USA are among the affected firms. This trend signals ongoing pressure in dedicated and contract freight markets.

https://www.freightwaves.com/news/logistics-layoffs-top-800-as-contracts-unwind-across-trucking-warehousing


The difference between healthy and sick

Watch how a company makes money. If they're healthy, they invest, they grow, they expand. Profits come from doing more. If they're sick, they cut. They restructure, they lay off, they squeeze. Profits come from doing less with fewer people. That tells you everything about where AT&T really stands.