#restructuring

Every acquisition brings layoffs, but this will be bad. Usually it's the acquired company that gets the brunt of it, but I wouldn't be surprised at all if this is used to get rid of as many people as possible on both sides under the cover of supposed redundancy. Prepare yourselves. This will not be pretty.

Looks like the DTO LT has been recently informed of the layoffs planned for later part of the year. The DTO LT themselves are in danger as there will be multiple mergers and hence job losses at LC and higher JG levels! Not complaining as I clearly see roles force fitted that need to go. But, it's the 3rd major restructuring in last 2 years that could have been actually done in one go during TOM.
Not sure when will this stop!

Any more insights from anyone about what's going to happen at mid and lower JG levels?

“$DELL NEW SEC FILING SHOWS MORE LAYOFFS ARE COMING

In March we reported Dell quietly cut 11,000 jobs. The new 10-Q covers the 13 weeks after that. It sped up.

$227M spent on severance in 13 weeks, up 75% from a year ago. $242M is already set aside for severance not yet paid.”

The discussion stems from Dell’s latest Form 10-Q, filed June 9, which provides an update on the company’s financial performance and operational outlook. The filing shows Dell recorded $227 million in severance-related expenses during a recent 13-week period. The amount represents a sharp increase from the same period a year earlier.

The company also disclosed that an additional $242 million has been reserved for future severance payments, a figure that has fueled speculation that more workforce reductions could be ahead.

The filing follows reports that Dell eliminated roughly 11,000 positions earlier in the fiscal year as the technology giant continued efforts to streamline operations and reallocate resources toward faster-growing segments of its business.

Alongside the quarterly report, several insider-related filings were submitted to the U.S. Securities and Exchange Commission. Forms 4 and 144, filed on June 8, disclosed changes in beneficial ownership and planned sales of restricted stock by company executives. Another Form 4 filed on June 9 by Silver Lake Group detailed a transaction involving Dell’s Class C common stock.

The workforce-related disclosures come as Dell experiences rapid growth in its artificial intelligence and infrastructure businesses. The company reported that revenue from its data center operations surged 181% year over year to $29 billion. Much of that growth was driven by demand for AI-focused servers, where revenue increased 757%, underscoring the industry’s ongoing investment in AI computing infrastructure.

READ: Dell shrinks workforce by 10% in fiscal 2026, annual reports show (March 17, 2026)

While the filing does not explicitly announce additional layoffs, the size of Dell’s severance spending and the substantial reserve set aside for future payments have prompted renewed scrutiny from investors and market observers. The company has not publicly detailed any new workforce reduction plans beyond the restructuring activities already disclosed.

As Dell continues to expand its AI and data center operations, the latest SEC filings showcase the balancing act many technology companies face as they invest aggressively in high-growth sectors while reshaping their workforce to support those priorities.

https://americanbazaaronline.com/2026/06/10/dell-sec-filing-signals-more-workforce-cuts-as-severance-costs-climb-482584/

Their intentions are clear, they want to replace as many people as possible with AI.

ServiceNow recently laid off hundreds of employees. This organizational restructuring aligns talent with its AI focus. A source confirmed a three-figure number of roles were eliminated. Affected functions included sales and product marketing. The company continues to invest in AI capabilities and new talent.

https://www.hrkatha.com/news/servicenow-cuts-hundreds-of-jobs-as-company-cites-ai-efficiencies/

Genentech initiated another round of layoffs affecting its workforce. Three Vice Presidents were among the casualties in this latest reduction. This action is part of a restructuring within the Genentech Research and Early Development (gRED) group. The company is shutting down its physiological chemistry and infectious disease units. Genentech stated these adjustments ensure investments align with core therapeutic areas and portfolio priorities.

South San Francisco, California

https://www.fiercebiotech.com/biotech/genentech-executes-another-round-layoffs-3-vps-axed

Centralized all sorts of operations and more layoffs across Interior Division

Intuit announced significant layoffs affecting 3,000 employees. This represents 17% of the company's global workforce. The company attributes these cuts to an AI pivot and restructuring efforts. Offices in Reno, Nevada, and Woodland Hills, California, will close. Intuit also signed multi-year AI agreements with Anthropic and OpenAI.

Mountain View, California

https://unitewithpriti.co.uk/news/intuit-layoffs-2026-why-3000-employees-are-paying-the-price-for-an-ai-pivot/

Ideal US Talent Systems Worker OpCo LLC is laying off 1,395 Illinois workers. The Minnesota-based company operates a gig worker platform. Layoffs are permanent and began on May 4, continuing through July 2. This action is due to a business restructuring of its temporary worker operations. Ideal is transitioning customer contracts to a third-party partner.

https://www.shawlocal.com/news/2026/06/10/minnesota-based-gig-worker-platform-laying-off-nearly-1400-illinois-workers/

An arbitrator ruled against Western Illinois University administration. The university violated a collective bargaining agreement by laying off eleven professionals. Nine faculty librarians and two other bargaining unit members were affected. The ruling orders the university to rescind these layoffs and provide back pay. These layoffs were part of efforts to address a $20 million budget deficit.

Macomb, Illinois

https://www.wgem.com/2026/06/11/arbitrator-rules-favor-laid-off-wiu-faculty-librarians/

UVM Health recently eliminated 142 positions. This action is part of an ongoing restructuring effort. The network aims to close a $300 million financial gap. It is currently losing approximately $460,000 daily. Most job reductions are in non-patient care areas.

Burlington, Vermont

https://www.burlingtonfreepress.com/story/news/local/vermont/2026/06/11/uvm-health-layoffs-healthcare-quality-nurses-unions-vt/90498664007/

Assets sold to https://www.blondertongue.com/about-us/

The multi-wave timeline clarifies the structural pattern Oracle follows:
August 31, 2025 Layoff: Accounted for as a $402 million localized surge in Q1 FY26 (reported September 2025).
March 31, 2026 Layoff: Accounted for as an $823 million localized surge in Q4 FY26 (reported yesterday, June 10, 2026).
The Result: The accumulation of these massive structural waves is what compiled the overall $2.1 billion restructuring footprint, leaving the remaining ~$980 million reserve sitting clean on the books to fund the upcoming FY2027 phases.

Layoffs that were expected in June now appear to be slipping into July. My guess is the company is adding more people to the RIF list, which is not exactly surprising given Global Payments track record of recurring workforce reductions and the pressure to deliver the $600 million synergy target tied to the Worldpay deal.

Meanwhile, GPN stock is trading at its lowest level since the TSYS acquisition in 2019 and is down roughly 30% since Cameron Bready became CEO in 2023. Oh and the guy that Cameron put in charge to run the SMB business ($6 BILLION!) who has never run a business in his career? Yes, layoffs are definitely coming.

Remember when Cameron got on stage when he became CEO three years ago and told everyone his goal was to build a "best-in-class" culture? Three years later, many teams are doing the work of two and three people, while bracing for yet another round of cuts and the lack of leadership at the C-suite level is truly shocking.

When is the board going to realize that Cameron isn't fit to run the company? Until then, employees should expect even more uncertainty, more restructuring, and more layoffs. So GPN employees listen up, things are only going to get worse so if you get offered a package next month, be grateful, and RUN as fast as you can.

In the meantime, #BringSloanBack!

Genentech underwent another round of layoffs this week. These cuts affected its early research and development group. The company closed its infectious disease research unit. Another research unit was also shuttered during this restructuring. Top scientist Vishva Dixit was among the employees laid off.

https://endpoints.news/exclusive-genentech-closes-infectious-disease-unit-in-wave-of-research-layoffs/

Anyone?

Ubisoft will close its Winnipeg and Belgrade studios. The company also proposes further job cuts. Up to 380 positions may be eliminated. These changes aim to reduce expenses and shift focus. Ubisoft Barcelona will restructure for Rainbow Six development.

https://www.gamedeveloper.com/business/ubisoft-closing-winnipeg-and-belgrade-studios-and-making-further-layoffs

Is it being reset? Or gutted?
Nothing makes sense

Les Schwab Tire Centers laid off 70 employees. These cuts occurred at its Bend, Oregon corporate offices. The company stated this is part of a restructuring effort. Approximately 430 employees remain at the headquarters. Laid-off workers will receive severance and extended benefits.

Bend, Oregon

https://www.oregonlive.com/business/2026/06/les-schwab-lays-off-70-at-oregon-headquarters.html

Common (and Sometimes Nefarious) Practices with LLC/Entity Changes
Changing an LLC—through formation of a new entity, asset sales, mergers, conversions, or “successor” setups—can create separation from prior liabilities. Legitimate uses include limiting personal exposure (via proper formalities like separate finances and operating agreements). However, abusive tactics include: 
• Forming a “new” LLC or shell entity and transferring assets: The old entity is left with debts/liabilities (sometimes leading to bankruptcy or dissolution), while the new one continues operations with a “clean slate.” This can attempt to evade contracts, judgments, or union obligations. Courts may “pierce the veil” if there’s commingling of assets, undercapitalization, fraud, or treating entities as alter egos. 
• Asset sales vs. stock sales: In asset purchases, the buyer may argue they’re not a “successor” bound by the old entity’s union contracts or liabilities (unlike stock purchases, where the entity identity often continues). Nefarious versions involve structuring deals to minimize continuity while keeping operations, workforce, and customers largely the same. 
• Using shells or related entities: Creating multiple layers (e.g., holding companies) to obscure ownership, fragment operations, or shift liabilities. This is sometimes used in union contexts to claim no bargaining obligation. 
• Rebranding/restructuring to reset terms: Announcing a “new company” to pressure renegotiation of wages, benefits, or seniority.

Great job ! Congratulations to all of you. Exceptional planning and execution! Tony and team, you are showing the retail industry how "The smallest stone can make a ripple in the water". You on on your way to creating a tsunami! Taking the bull by the horns and restructuring with Incredible Insight!

The chatter surrounding Verizon's workforce changes has been a major point of anxiety and discussion across the company, especially following the major structural realignments that began late last year.
Here is what is currently happening on the ground and what is projected for July:
The July 16th Outlook
While Verizon's executive leadership has not issued a formal, public press release detailing a specific number of cuts for mid-summer, internal communications and widespread industry grapevine reports have consistently pointed to July 16, 2026 as the next major milestone date for localized headcount reductions and structural adjustments.
PhoneArena
Rather than a single, massive sweeping announcement, these upcoming cuts are tracking as part of a "rolling" optimization strategy. This next phase is expected to heavily tie into:
The "R2B" (Retail to Business / SMB) Shifts: Wholesale changes to Small and Medium Business sales structures are scheduled to fully take effect in July, leaving internal groups bracing for localized role eliminations or commission structure realignments.
Network & Field Engineering Pressure: Field operations have already taken massive hits over the last two quarters. Staffing discussions on internal forums indicate severe strain on the remaining field engineers, who are carrying an unprecedented number of cell sites per person to keep up with break/fix backlogs.
Reddit
The Broader Multi-Year Blueprint
The July activity isn't happening in a vacuum; it is the continuation of the aggressive cost-reduction mandate set by CEO Dan Schulman when he took the helm in October 2025.
Wireless Estimator
The Mandate: Achieve $5 billion in annual operating expense savings and reduce capital expenditure down to the $16–$16.5 billion range by the end of 2026.
Wireless Estimator
To put the current trajectory into perspective, the operational shifts follow a clear timeline:
Timeline Action / Focus Area Operational Impact
Q4 2025 The Initial Wave Verizon initiated the largest workforce reduction in its history, cutting over 13,000 corporate positions (roughly 13% of total headcount) and taking a $1.8 billion severance charge.
Early 2026 Outsourcing & Contracting Leadership aggressively squeezed third-party expenses, renegotiating cell tower construction vendor contracts well below 2021 pricing and moving heavily toward automated customer service tools.
Mid-2026 Retail Franchising & AI Shifts Ongoing transition of 180 to 200 corporate retail locations into outsourced franchise models, removing store employees from the direct payroll.
July 2026 & Beyond Rolling Departmental Audits Expected targeting of overlapping management layers, marketing, and the newly restructured SMB sales organizations. Total 2026 role impacts are projected to hit closer to 15,000 total roles as automation tools scale up.
The "Age of AI" Pivot
A significant piece of the narrative coming from the top floor is that these cuts are "inevitable" to free up capital for core 5G network innovation and subscriber acquisition to fight off T-Mobile and AT&T. Management has leaned heavily into framing these transitions as preparing for an "AI-first" operating model—even establishing a $20 million skill development fund for departing workers.
The HR Digest

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  However, the internal reality remains incredibly challenging for the staff left behind, who are absorbing massive workloads, navigating altered corporate reporting structures, and managing the friction of a leaner, highly consolidated organization

Invista's Kingston plant is laying off over 100 workers. These job cuts are part of a company-wide restructuring effort. The company has not been profitable, with costs exceeding its value. Layoffs will occur between June 21 and August 2. Invista aims to become leaner and more cost-efficient for a profitable future.

https://www.thewhig.com/news/more-than-100-jobs-cut-at-invistas-kingston-facility

Fulcrum Therapeutics announced a significant business restructure. The company is reducing its workforce by 85%. This leaves the company with nine employees. The decision follows the discontinuation of its lead dr-g candidate, pociredir. The FDA raised safety concerns regarding the sickle cell disease treatment.

https://www.biospace.com/business/fulcrum-tanks-as-cancer-concerns-stymie-sickle-cell-asset-trigger-business-reorg

Monumental Sports & Entertainment is laying off about 30 employees. This reduction represents just under 4% of its total workforce. The company cited redundancy and efficiency as primary reasons for the cuts. These layoffs are part of an organizational restructuring tied to the Capital One Arena transformation. Monumental plans to reallocate resources and invest in other key areas like technology and fan support.

Washington, D.C.

https://www.sportsbusinessjournal.com/Articles/2026/06/05/monumental-sports-entertainment-undergoes-layoffs/

After accepting a job at Optum, be sure to have a solid exit plan within 12 months. This is about how long it will take them to decide to replace you.

Pattern: Hire, layoff, replace, repeat.

Other pattern: Hire, layoff, AI, ??!?

Restructuring is constant. It does not matter if you are a high performer. They hire a consulting firm to evaluate demographics of employees when conducting layoffs to prevent discrimination lawsuits. May the odds be ever in your favor.

Team17 confirmed recent layoffs. These cuts impacted marketing and communications personnel. Two employees lost their jobs. The company completed a business review. This follows a larger restructuring effort from 2023.

https://nichegamer.com/team17-confirms-new-layoffs-following-internal-restructuring/

Uber is cutting 23% of jobs in its People and Places division, which covers human resources, recruitment, workplace facilities, and culture, according to Bloomberg.

A company spokesperson confirmed the affected headcount falls well below 1% of Uber's global workforce of 34,000, though the company declined to provide a specific figure. Senior-level positions account for a large share of the roles being eliminated.

https://qz.com/uber-layoffs-hr-people-division-restructuring-060326

Prudential Financial is laying off 53 employees on July 17. This action is part of ongoing restructuring under CEO Andrew Sullivan. The company has issued several layoff notices since July 2025. The company aims to strengthen its business for long-term growth despite issues in its Japan affiliate. The Japan affiliate's new sales suspension extends through late 2026.

Newark, New Jersey

https://insurancenewsnet.com/innarticle/prudential-announces-more-layoffs-as-insurer-continues-to-restructure

Republic National Distributing Company is closing two North Carolina facilities. This action will result in 53 layoffs across Charlotte and Raleigh. The company is undergoing a large operational restructuring. These facilities are expected to be sold to a third party. Overall, nearly 5,400 employees will be laid off across 11 states.

Charlotte, North Carolina

https://www.charlotteobserver.com/news/business/article315994160.html

Baptist Health–Fort Smith plans to eliminate 70 more jobs. This action is part of an ongoing restructuring effort. The total number of announced job cuts now reaches about 220. These job reductions have been announced since April. The health system is located in Fort Smith.

Fort Smith,

https://www.swtimes.com/story/news/2026/06/03/additional-layoffs-announced-at-baptist-health-fort-smith/90380755007/

Siemens Management Call Today discussed massive layoffs coming through 2027 upwards of 20,000 employees globally. Massive restructuring underway for all business segments through 2028. Divestment of many areas due to AI adaptation and automation.

GitLab announced a restructuring plan impacting its global operations. The company is cutting 350 jobs, which represents about 14% of its workforce. Shares climbed after stronger-than-expected sales and an improved annual outlook. GitLab's revenue increased 23% to $264.2 million for the recent quarter. The company is promoting its new Duo Agent Platform for AI software tasks.

San Francisco, California

https://ts2.tech/en/gitlab-shares-rise-on-stronger-ai-outlook-350-layoffs-announced/

Hollywood Feed is undergoing a corporate restructuring. This action impacts 20 employees at its headquarters. The company informed staff on June 1. Economic challenges in the pet industry prompted the move. Consumer base impacts also contributed to the decision.

Memphis, Tennessee

https://www.commercialappeal.com/story/money/business/development/2026/06/01/memphis-based-hollywood-feed-to-make-layoffs-in-corporate-office/90360795007/

Harvard's Faculty of Arts and Sciences is restructuring its staff. This plan includes eliminating three high-level administrative dean positions. These roles oversee finance and information technology across divisions. The layoffs are part of an effort to address a $365 million structural deficit. Affected administrators have worked at Harvard for decades.

Cambridge, Massachusetts

https://www.thecrimson.com/article/2026/6/2/ads-laid-off-fas/

Centra announced layoffs affecting approximately 90 employees. This represents about one percent of its total workforce. The changes are part of a company restructuring effort. Some laid-off individuals may apply for other open positions. Centra aims to reduce redundancies and improve efficiency.

Lynchburg, Virginia

https://www.wsls.com/news/local/2026/06/01/centra-to-lay-off-90-employees-as-part-of-company-restructuring/

Centra announced Monday that it would be laying off approximately 90 employees, about one percent of Centra’s total workforce, effective this week as part of the company’s restructuring efforts.

https://www.wsls.com/news/local/2026/06/01/centra-to-lay-off-90-employees-as-part-of-company-restructuring/

Assuming it will be in the June 10th filing.

What are people thinking? I say $1.5B

Standard Chartered plans to cut more than 15% of its corporate function workforce by 2030 as it expands the use of AI and automation across the bank. The restructuring could eliminate more than 7K jobs globally, affecting back-office and support functions. Standard Chartered currently employs around 80K people worldwide and operates extensively across Asia, Africa, and the Middle East.

CEO Bill Winters said the reductions will be driven by automation and wider adoption of artificial intelligence. The bank expects some employees to be reskilled, but the overall direction is clear: fewer human workers will be needed as AI takes over routine operational tasks. The announcement comes as Standard Chartered raises its long-term profitability targets, aiming for returns above 15% by 2028 and 18% by 2030. Investors appear to support the strategy, with shares moving higher following the announcement.

This is another example of a growing trend across large corporations. AI is no longer being positioned solely as a productivity tool. It is increasingly being used to reduce headcount and streamline operations.

For employees in banking, finance, operations, compliance, risk support, HR, and other corporate functions, the question is becoming harder to ignore:

If a global bank can eliminate 7,000 jobs through automation, how many similar roles across the industry could disappear over the next decade?

Thoughts from current or former Standard Chartered employees?