#restructuring

PEPSICO LAYOFF OUTLOOK — NEXT 12 MONTHS (Oct 2026 – Oct 2027) Prepared Oct 16, 2026. Public sources only. Sources numbered in brackets; full links at bottom.
BOTTOM LINE
A meaningful round of PepsiCo workforce reductions is very likely before the Q4 2026 earnings release in early February 2027, with a second wave tied to the North America integration/refranchising decision. The company has said so in plain language, has already booked the charges, and has a two-year pattern of executing exactly this playbook. The open questions are scale and mix (corporate vs. frontline), not whether.
WHAT PEPSICO HAS SAID PUBLICLY (the hard evidence)
Q3 2026 earnings, Oct 8, 2026:
Laguarta said additional structural cost reduction actions are being identified and will be implemented in the coming months to help fund growth investments and mitigate rising input cost inflation. [1]
On the call: "We are cutting costs in many areas of the business, including corporate unallocated, including overhead costs everywhere." [2]
Laguarta said urgency means looking at every cost with aggressive lenses, and that anything not related to growth will not be part of the company. [3]
He also said the team is accelerating tactics on the integration side where cost can be eliminated. [3]
Laguarta described the cuts as structural cost reduction actions that reduce redundancies and curtail discretionary expenditures. [4]
The company is evaluating structural options for North America, including potentially expanding refranchising of bottling operations in certain regions. [3]
CFO Steve Schmitt said the domestic turnaround is moving more slowly than expected [5]; the stock had touched a more-than-six-year low that week. [6]
The restructuring charges are already in the filings:
The 2019 Productivity Plan was expanded and extended through 2030 with expected pre-tax charges of about $6.15 billion. Plan-to-date through Sept 5, 2026, PepsiCo has incurred $4.0 billion. For the remainder of 2026 it expects roughly $500 million of pre-tax charges, with the majority of remaining charges incurred through 2027. Charges include severance and other employee costs, asset impairments and other costs. [7]
Context: Q3 2026 charges were $185 million. A ~$500 million Q4 would be the largest single-quarter charge in the program, and it is scheduled for the next ten weeks. [7]
The plan's pre-tax charges are expected to be roughly 50% severance and other employee-related costs, 10% asset impairments from plant closures, and 40% other implementation costs. [8]
Headcount is already shrinking:
PepsiCo employed approximately 306,000 people worldwide as of Dec 27, 2025, including about 125,000 in the U.S. [9] versus approximately 319,000 worldwide and 134,000 in the U.S. as of Dec 28, 2024. [10] That is roughly -13,000 global / -9,000 U.S. in one year, before any 2026 actions.
The Elliott-driven plan (Dec 2025) set the frame:
The plan included aggressive expense reductions, plant closures, SKU rationalization and reportedly job cuts tied to operational streamlining; three plants had already been closed, several lines shut, and nearly 20% of U.S. SKUs slated for elimination by early 2026, with at least 100 basis points of margin expansion targeted over three years. [11]
On the North America supply chain and go-to-market initiatives, PepsiCo said it is evaluating an integrated model with a nuanced, state-level approach based on ROI, scale and share, with an update to be provided late in 2026. [12]
Jennifer Wells, Chief People Officer for North America, told employees that structural changes would affect some roles in the company, per Bloomberg. [13]
Bloomberg reported PepsiCo instructed staff in Purchase, Chicago and Plano to work remotely that week, and that executives had already used the phrase "rightsizing the workforce" before Elliott's engagement. [14]
THE 2025–2026 TRACK RECORD (what "structural cost reduction" has looked like in practice)
Feb 2025: Liberty, NY (PopCorners) plant closed, 287 laid off. [15]
Jun 2025: Rancho Cucamonga, CA Frito-Lay manufacturing shut after 50+ years, 432–480 positions eliminated. [16]
Nov 2025: Two Frito-Lay facilities in Orlando closed, 500 positions terminated (454 at the plant/onsite warehouse Nov 4; 46 at an offsite warehouse by May 9, 2026). [17]
Dec 2025: Corporate cuts in Purchase/Chicago/Plano reported by WSJ and Bloomberg alongside the Elliott settlement (company did not disclose a number). [13][14]
Jan 2026: Spain — about 400 workers at risk as PepsiCo moves from direct sales to distributors across 11 sites, following 250 cuts the prior year. [18] Job cuts were also announced in Cork, Ireland in December 2025. [19]
Feb 2026: Rancho Cucamonga warehouse closure, 247–248 laid off, WARN filed Feb 10. [20]
Aug 2026: Columbia, SC — PepsiCo Beverages Sales LLC listed 105 permanent layoffs with last day Oct 18, citing a shift in how warehouse logistics are managed; site stays open. [21]
Sep 2026: Cheverly, MD bottling plant — manufacturing and warehouse ended, 143 laid off (98 union), citing changes in consumer demand, technology and operating network; sales and delivery continue. [22]
Pattern: foods closures first (2025), then beverage manufacturing/warehouse consolidation (2026), with sales/delivery protected so far. International DSD-to-distributor conversions run in parallel.
BECKY SCHMITT — HISTORY RELEVANT TO WORKFORCE ACTIONS
(Note: PepsiCo has two senior "Schmitts." Becky Schmitt is EVP & Chief People Officer. Steve Schmitt is EVP & CFO, ex-Walmart U.S. CFO, appointed Nov 2025. They are unrelated roles; press coverage frequently conflates them.)
Becky Schmitt has been EVP and Chief People Officer since June 2023. Before that she was EVP, Chief People Officer of Cognizant, and held HR executive roles at Walmart including SVP, Chief People Officer of Sam's Club (2018–2020). [9] She was CPO of U.S. eCommerce and corporate functions from late 2016 to 2018, and VP HR-Technology in 2016; before Walmart she spent over 20 years at Accenture. [23]
Walmart period (2016–2020):
Walmart ran repeated corporate layoff rounds in 2017: about 1,000 workers before Jan 31 (511 at Bentonville HQ, 174 in California), then roughly 300 more in its information systems division in April. [24] The WSJ reported many eliminations would hit HR, which some executives felt could be outsourced. [25]
Jan 2018: Walmart cut 400–500 HQ jobs across marketing, HR, merchandising, real estate, logistics and finance. [26]
Jan 11, 2018: Walmart announced 63 Sam's Club closures; some employees learned via a company-wide email, and some stores had already liquidated without notifying staff. [27] At ~175 associates per club, that implied more than 11,000 employees affected, about 10% of Sam's workforce. [28] Schmitt became Sam's Club CPO in 2018; public records do not establish whether she was in the role on the day of the closures, so treat her involvement as unverified.
Cognizant period (Feb 2020 – May 2023):
She was hired as Cognizant's CPO effective Feb 1, 2020, shortly after Cognizant announced in November 2019 it would remove 10,000–12,000 mid-to-senior staff from their roles, with 5,000–7,000 losing their jobs. [29]
She oversaw HR during a period when Cognizant's attrition exceeded 30% in 2021–2022; an analyst read her 2023 exit as part of the new CEO's push to improve leadership quality and reduce bloated costs. [30]
PepsiCo period (2023–present):
The Dec 2025 corporate cuts, the 2026 plant/warehouse closures, and the ~13,000 headcount decline in FY2025 all occurred under her People function. [9][10][13][22]
Public positioning is AI-and-skills, not cuts: she has described using AI for dynamic route engineering and factory digital twins and preparing 300,000 employees for a skills-based future [31]; in May 2026 she said PepsiCo gave 5,000 employees a week to do nothing but learn AI [32]; she emphasized standard processes and common data sets so that jobs are translatable across countries and the technology can move. [33] She has also said "You have to redesign jobs." [34]
Read-through: her career has run through three employers that executed large, repeated structural cuts (Walmart corporate/Sam's, Cognizant, PepsiCo). Her public language — standardization, translatable roles, job redesign, automation — is the vocabulary of shared-services consolidation. That is consistent with corporate/back-office reductions rather than frontline sales.
PREDICTIONS — NEXT 12 MONTHS (inference from the above)
A. Corporate/overhead reduction announced between now and Feb 3, 2027 (Q4 earnings). Likelihood: high.
Why: "coming months" language on Oct 8 [1]; ~$500M of charges budgeted for Q4 2026 alone [7]; explicit targeting of "corporate unallocated" and "overheads everywhere" [2]; pattern of Dec 2025 cuts timed to the investor update [14].
Likely scope: hundreds to low thousands of salaried roles across Purchase, Plano, Chicago and regional offices, concentrated in finance, HR, marketing support, IT and duplicated PBNA/PFNA functions. Watch for a work-from-home instruction at HQ as the tell.
Timing tell: December is the recurring window (2022 WSJ-reported cuts and Dec 2025 cuts both preceded year-end/guidance events). [13][14]
B. North America integration decision ("late 2026" update) triggers a field-level wave in H1 2027. Likelihood: high for the update, medium-high for a large associated reduction.
Why: PepsiCo committed to an update on the integrated supply chain/go-to-market model late in 2026 [12]; Laguarta cited accelerating integration tactics to eliminate cost [3]. Integrating foods and beverages warehousing, transport and back office is where the real duplication sits.
Who: warehouse, fleet, transport, planning, and regional admin. The Columbia and Cheverly actions are the template — "shifting how warehouse logistics are managed," sales and delivery preserved. [21][22]
C. More beverage manufacturing/warehouse closures in company-owned territories. Likelihood: high.
Why: 20% SKU cut reduces line requirements [11]; Cheverly cited "operating network" evolution [22]; CSD volume down 2% in Q3 [5]. Expect 2–5 additional WARN-sized actions (100–500 each) over 12 months.
D. Refranchising "in certain regions" moves from evaluation to action in 2027. Likelihood: medium.
Why: now on the table in management's own words [3], after a full refranchising was ruled out in Dec 2025 [12]. If executed, company headcount transfers to bottlers rather than being cut outright, but the corporate and overhead layer supporting those territories goes away. For independent bottlers, this is the one to watch — it changes territory maps and could expand or compress who services adjacent markets.
E. International DSD-to-distributor conversions continue (Spain-style). Likelihood: high, but modest U.S. relevance.
F. What would reduce the scale: a real NA volume recovery in Q4/Q1, commodity relief as hedges reset, or Elliott taking a victory lap and backing off. None are visible yet — analysts cut targets after the print and one analyst flagged a lack of transparency on what went wrong in North America and what changes management intends to make. [35] Jefferies called 2027 the key year for measuring returns. [36]
Rough sizing (inference, not a reported figure): another low-single-digit-percent global headcount decline in FY2026 and FY2027 each, i.e., on the order of 5,000–12,000 per year, heavier in the U.S., delivered through a mix of closures, attrition, and salaried cuts. The 2025 result (-13,000) is the anchor.
DATES TO WATCH
Nov–Dec 2026: late-2026 NA integration update; any HQ work-from-home instruction; state WARN filings (60-day notice).
Feb 3, 2027 (approx.): Q4 2026 earnings and 2027 guidance — formal productivity targets and charge estimates for 2027.
Apr 2027: Q1 2027 earnings — first read on whether cuts are funding volume recovery or just protecting EPS.
Form 10-K (Feb 2027): FY2026 year-end headcount vs. 306,000.
Gap to note: no outlet has published a hard number for the December 2025 corporate cuts, and PepsiCo has not disclosed one. The Q4 10-K's year-end headcount in February is the first reliable public datapoint on scale.
SOURCES [1] PepsiCo Q3 2026 earnings release (8-K Ex. 99.1), Oct 8, 2026 — https://www.sec.gov/Archives/edgar/data/0000077476/000007747626000050/q320268-kxexhibit991.htm [2] Q3 2026 earnings call transcript — https://stockanalysis.com/stocks/pep/transcripts/706870-q3-2026/ [3] Q3 2026 earnings call transcript, The Motley Fool — https://www.fool.com/earnings/call-transcripts/2026/10/08/pepsico-pep-q3-2026-earnings-call-transcript/ [4] "PepsiCo to cut costs after lowering earnings outlook," Just Food via Yahoo Finance, Oct 8, 2026 — https://finance.yahoo.com/news/pepsico-cut-costs-lowering-earnings-141448167.html [5] "PepsiCo cuts full-year profit forecast in Q3 2026 earnings," Yahoo Finance, Oct 8, 2026 — https://finance.yahoo.com/markets/stocks/articles/pepsico-cuts-full-profit-forecast-111635656.html [6] Reuters via MarketScreener, Oct 8, 2026 — https://www.marketscreener.com/news/pepsico-to-cut-costs-as-weak-n-america-business-hurts-annual-core-profit-forecast-ce785dded08df721 [7] PepsiCo Form 10-Q for period ended Sept 5, 2026 — https://www.sec.gov/Archives/edgar/data/0000077476/000007747626000048/pep-20260905.htm [8] PepsiCo Form 10-Q for period ended Sept 6, 2025 — https://www.sec.gov/Archives/edgar/data/77476/000007747625000053/pep-20250906.htm [9] PepsiCo Form 10-K FY2025 — https://www.sec.gov/Archives/edgar/data/77476/000007747626000007/pep-20251227.htm [10] PepsiCo 8-K (recast FY2024 disclosures), July 2025 — https://www.sec.gov/Archives/edgar/data/77476/000007747625000042/pep-20250717_d2.htm [11] "PepsiCo Strikes Deal With Elliott, Unveils 2026 Cost Cuts And Plant Closures," RTTNews/Nasdaq, Dec 2025 — https://www.nasdaq.com/articles/pepsico-strikes-deal-elliott-unveils-2026-cost-cuts-and-plant-closures [12] "PepsiCo sets out agenda after crunch investor talks," Just Food via Yahoo Finance, Dec 2025 — https://finance.yahoo.com/news/pepsico-sets-agenda-crunch-investor-122906349.html [13] "PepsiCo Layoffs Are on the Way…," HR Digest, Dec 2025 — https://www.thehrdigest.com/pepsico-layoffs-are-on-the-way-as-the-company-explores-a-major-overhaul/ [14] "PepsiCo Plans Layoffs as It Looks to Finish Elliott Talks," Bloomberg via Transport Topics, Dec 2025 — https://www.ttnews.com/article/pepsi-supply-chains-elliott [15] "PepsiCo Is Closing Frito-Lay Factories in 2026," AOL — https://www.aol.com/articles/pepsico-closing-frito-lay-factories-104900712.html [16] "PepsiCo closes multiple Frito-Lay plants across US," Food Ingredients First, Nov 2025 — https://www.foodingredientsfirst.com/news/pepsico-closes-frito-lay-plants-us.html [17] "PepsiCo to shutter 2 Frito-Lay facilities in Florida, lay off 500 workers," Food Dive via Yahoo, Nov 7, 2025 — https://finance.yahoo.com/news/pepsico-shutter-2-frito-lay-100000405.html [18] "PepsiCo jobs in Spain at risk," Just Drinks, Jan 29, 2026 — https://www.just-drinks.com/newsletters/pepsico-jobs-in-spain-at-risk [19] "PepsiCo cuts jobs at US bottling plant," Just Food via Yahoo, Sep 2026 — https://finance.yahoo.com/economy/policy/articles/pepsico-cuts-jobs-us-bottling-120204056.html [20] "Frito-Lay to close San Bernardino County warehouse, lay off 247 employees," LA Times via Yahoo, Feb 2026 — https://finance.yahoo.com/news/frito-lay-close-san-bernardino-200244391.html [21] "Over 100 PepsiCo employees in Columbia facing permanent layoffs," WIS-TV, Aug 20, 2026 — https://www.wistv.com/2026/08/20/over-100-pepsico-employees-columbia-facing-permanent-layoffs-documents-show/ [22] "PepsiCo to end manufacturing operations at Maryland bottling plant," Food Dive, Sep 16, 2026 — https://www.fooddive.com/news/pepsico-layoffs-maryland-bottling-plant-manufacturing-operations/830548/ [23] PepsiCo 2023 Annual Report (ARS) — https://www.sec.gov/Archives/edgar/data/77476/000130817924000261/pep4309521-ars.pdf [24] "For 2nd time this year, Wal-Mart cuts workers," NWA Democrat-Gazette, Apr 6, 2017 — https://www.nwaonline.com/news/2017/apr/06/for-2nd-time-this-year-wal-mart-cuts-wo/ [25] "Wal-Mart Plans to Cut Hundreds of Jobs by January End," Reuters via Fox Business, Jan 2017 — https://www.foxbusiness.com/markets/wal-mart-plans-to-cut-hundreds-of-jobs-by-january-end [26] "Report: Walmart cutting 500 jobs," Chain Store Age, Jan 25, 2018 — https://chainstoreage.com/finance-0/report-walmart-cutting-500-jobs [27] Sam's Club, Wikipedia (Jan 2018 closures) — https://en.wikipedia.org/wiki/Sams_Club [28] "Walmart Shutters Dozens Of Sam's Club Stores," Bisnow, Jan 2018 — https://www.bisnow.com/news/national/retail/sams-club-shutters-stores-around-the-country-83593 [29] "Cognizant hires Becky Schmitt as new chief people officer," Consulting.us, Dec 2019 — https://www.consulting.us/news/3503/cognizant-hires-becky-schmitt-as-new-chief-people-officer [30] "Cognizant CPO Becky Schmitt resigns," HRKatha, Apr 2023 — https://www.hrkatha.com/hiring-firing/cognizant-cpo-becky-schmitt-resigns/ [31] Becky Schmitt LinkedIn profile/activity — https://www.linkedin.com/in/rebeccaaschmitt/ [32] "PepsiCo CPO says their 'secret sauce'…," Fortune, May 25, 2026 — https://fortune.com/2026/05/25/pepsico-cpo-becky-schmitt-secret-sauce-hiring-top-talent-all-hustle-agile-curious-ai-era/ [33] "Indeed chief economist says execs are 'overestimating the speed' of AI transformation," Fortune, May 20, 2026 — https://fortune.com/2026/05/20/indeed-chief-economist-execs-overestimating-speed-ai-transformation-labor-market/ [34] "3 leadership lessons from AI-powered companies," Fast Company, Oct 2026 — https://www.fastcompany.com/91621833/3-leadership-lessons-from-ai-powered-companies [35] "PepsiCo's Ongoing North America Weakness Drives Guidance Cut, Says Analyst," Benzinga, Oct 2026 — https://www.benzinga.com/analyst-stock-ratings/analyst-color/26/10/62275231/pepsicos-ongoing-north-america-weakness-drives-guidance-cut-says-analyst [36] "Jefferies cuts Pepsico stock price target on slower progress," Investing.com, Oct 12, 2026 — https://au.investing.com/news/stock-market-news/jefferies-cuts-pepsico-stock-price-target-on-slower-progress-93CH-4684201 Also used: PepsiCo Dec 9, 2025 guidance call transcript — https://www.pepsico.com/docs/pepsico-5v9wci20/media/Files/investors/PepsiCo-Inc-December-9-2025-730-AM-ET-Transcript.pdf; PepsiCo Form 10-Q for period ended June 13, 2026 — https://www.sec.gov/Archives/edgar/data/0000077476/000007747626000035/pep-20260613.htm

All of Oracle's financial woes have distracted me from the other elephant in the room, the purported December layoff. Anybody remember what Oracle's remaining FY27 restructuring budget is?

Ticketmaster has implemented significant global workforce reductions, impacting approximately 350 employees across 25 countries. The layoffs primarily targeted engineering, product, and design departments, alongside a decrease in contractor roles. This strategic move aims to enhance prioritization and consolidate ownership within these key areas. Company leadership stated the restructuring is focused on long-term positioning and future initiatives rather than immediate performance. The executive team at Ticketmaster remains unchanged by these changes.

West Hollywood, California

https://www.ticketnews.com/2026/05/report-ticketmaster-cuts-global-staff-live-nation-earnings-report/

Online styling firm Lookiero is initiating a restructuring that will impact approximately 10% of its employees. This decision follows a significant funding round completed just nine months prior. The company cited a financial paradox where positive EBITDA does not translate to sufficient cash flow for its current structure. Integration of artificial intelligence and resulting productivity gains are also contributing factors to the changes. This move highlights increasing pressure on tech companies to manage liquidity alongside operational profitability.

https://app.dealroom.co/news/note/lookiero-plans-layoffs-nine-months-after-17-2m-raise-backed-by-public-money

Universal Music Group's MCA division has initiated significant layoffs. At least eight senior employees, including the COO, have been let go. This action impacts various departments, including promotion and e-commerce. The restructuring signals a shift within the company's operations. Further details on the extent of the changes are anticipated.

https://ramp247.com/label-love/umg-layoffs-reach-mca-staff/

New York, NY

Universal Music Group's Nashville division, MCA, has implemented layoffs affecting approximately fourteen employees. This move follows broader cost-cutting measures initiated by the parent company. Several key executives, including the COO, were among those let go. These reductions are part of a larger corporate restructuring aimed at achieving significant annual savings. The company cited the need to adapt to industry changes and enhance efficiency.

https://www.billboard.com/pro/universal-music-mca-layoffs-staff-cut-restructuring/

Major entertainment companies are implementing widespread layoffs, impacting thousands of employees across the industry. Netflix announced its largest-ever workforce reduction, letting go of approximately 1,000 global staff members. Universal Music Group also initiated further layoffs as part of its 2024 restructuring. These cuts follow the recent merger of Paramount and Skydance, which is expected to result in substantial cost savings. The entertainment industry is grappling with these changes amidst evolving technological landscapes and market shifts.

Los Angeles, California

https://lamag.com/hollywood/widespread-layoffs-plague-the-entertainment-industry/

Barron's argues that Citigroup shares could rise approximately 30%, reaching $165 by mid-2027, as the bank's multiyear restructuring begins delivering stronger financial results. Under CEO Jane Fraser, Citi has simplified its operations, reduced costs, exited less-profitable businesses, and focused on improving shareholder returns. Despite these improvements, Citi remains the only major U.S. bank trading below its pre-2008 financial crisis peak. At approximately $127 per share, Citi trades at roughly 10 times expected 2027 earnings, making it one of the cheapest major banks. Some investors believe the company could eventually approach JPMorgan's profitability while trading at a substantially lower valuation.
The investment case centers on improving profitability, earnings growth, and operational efficiency. Citi's return on tangible common equity (ROTCE) is projected to increase from 7.7% in 2025 to 11.4% in 2026 and 12.2% in 2027, potentially reaching 15% by 2030. Earnings per share are expected to rise more than 60% in 2026 to $11.20, followed by another 14% increase to $12.79 in 2027. Citi's global payments business remains a major competitive strength, and the bank is gaining market share in large corporate mergers and acquisitions. Additional improvements could come from divesting its Mexican operations, reducing regulatory capital requirements, and continuing to streamline its organizational structure.
Despite the optimistic outlook, Citi faces meaningful risks, including regulatory scrutiny, consumer credit exposure, economic uncertainty, and the possibility that its stock already reflects much of the anticipated turnaround. Its credit card and consumer banking operations remain sensitive to weakening household finances, while profitability and balance-sheet quality still trail stronger competitors. Nevertheless, analysts and portfolio managers cited by Barron's believe Citi's restructuring has substantial room to deliver additional benefits. Morgan Stanley projects a $164 share price, while technical analysis suggests $165 is achievable by mid-2027. The central argument is that Citi does not need to become the best-performing bank to generate attractive shareholder returns. It only needs to continue closing the profitability and valuation gap with its peers.

www.barrons.com/articles/buy-citigroup-stock-trail-financials-3da35db6

ex DXCer who is fully aware the BAE account is going through a major reshuffle as part of contract changes

whats the latest there?

Abstract. A restructuring along the lines of the McKinsey span-of-control model would permit the organisation to eliminate managerial layers without reference to any single function. The principal requirement is that every leader directly manage no fewer than five reports. Leaders falling below this threshold, typically those managing two or three people, are expected to be removed, with their territories and teams absorbed into adjacent units and the associated headcount consolidated. The effects described herein are not confined to one function; they extend across Research and Development, Sciene and Technology, Key Account Management, Human Resources, and the Frito-Lay field organisation. The scheme is expected to proceed in stages, though the sequence and timing remain undisclosed.

1. Introduction
   The governing principle is simple. Any leader who does not manage five direct reports should expect their role to be discontinued. Territories and teams led by individuals with two or three reports will be absorbed, and the resulting heads redistributed accordingly.

2. Research and Development; Sales and Trade
   Managers and Directors across both R&D and S&T fall within scope. The consequences in these functions are expected to be severe.

3. Area Sales Managers (Beverage)
   A considerable number of exceptions were granted during the previous round. It is not anticipated that this leniency will recur. An ASM with two or three direct reports should regard their position as at risk, with those reports transferred to a neighbouring ASM.

4. Key Account Management
   Beverage KAMs are to be merged with their Frito-Lay counterparts, such that two roles become one. The depth of this consolidation is not yet known, and it may not be completed within the first year. Nothing, however, should be regarded as beyond possibility.

5. Directors and Senior Directors of Region
   A DOR or Senior DOR must carry a headcount of five or more; otherwise the span is to be merged. Major account responsibilities may be treated as exceptions, though any such role should expect to assume Frito-Lay accountability in addition.

6. Human Resources
   The function is expected to be largely withdrawn. The organisation’s preference for a self-service kiosk model is well established. The prevailing view at the most senior levels is that HR contributes little value and generates a disproportionate share of problems.

7. Frito-Lay
   This function may bear the greatest impact. Zone Directors, KAMs and TSMs are each expected to be substantially reduced. The beverage operating model appears to be regarded as the superior of the two.

8. Delivery and Merchandising
   It is reasonable to expect these functions eventually to converge into one, and subsequently to combine across Frito-Lay and Pepsi. No timetable has been indicated, though the logic is evident.

9. Sales Representatives
   The sales representative role is expected to be eliminated. The justification is observable by anyone willing to look: visit five stores at random on the journey home and assess what the Pepsi and Frito-Lay representatives have accomplished of their own accord. In a great many cases, the answer is very little. Execution of even a sold-in priority can no longer be relied upon.

10. Divestiture of Low-Profit Territory
    Territories of low profitability are expected to be sold to bottlers. The timing is unknown; however, Ramon referenced this on the earnings call, which indicates it is under active consideration.

11. Direct Store Delivery
    The future of DSD itself is likely under review. Every facet of the future business model should be considered open to change.

12. Conclusion
    We have described a restructuring in which span of control serves as the primary instrument of consolidation. Functions are merged where overlap exists, roles are removed where contribution is doubted, and territories are divested where returns are insufficient. The process is incremental, and its full extent is not yet visible. Those affected would do well to prepare accordingly.

May the odds forever be in your favour.

This is speculative conjecture generated from Rumors via this site, Reddit and Earnings commentary.

Lululemon has reduced its fabric development team by seven positions. This reorganization occurred in August as the company shifts capabilities closer to international vendors. The move aims to improve supply chain execution and prevent product flaws. These changes follow recent customer complaints about sheer leggings. The company is now hiring for similar roles in Taiwan and Vietnam.

Vancouver, British Columbia

https://sgbonline.com/exec-lululemon-fabric-team-undergoes-layoffs-following-product-quality-complaints/

Universal Music Group is implementing widespread layoffs across its U.S. and U.K. operations, impacting numerous employees and several senior executives. These cuts follow earlier reductions in the company's Canadian division and the departure of a long-standing executive. High-ranking officials from Def Jam Records, Interscope Records, and Republic Records are among those leaving their positions. The company cites industry transitions and consolidation costs as factors contributing to these difficult decisions. These layoffs are part of a broader trend of staff reductions occurring across major music companies.

New York, New York

https://variety.com/2026/music/news/universal-music-group-layoffs-top-execs-out-1236911991/

Winnebago Industries is implementing further layoffs at its specialty vehicles operation. This latest round will impact 51 employees in November. The company has already closed two plants and reduced its workforce by over 300 individuals since 2025. These cuts are part of an ongoing restructuring effort. The announcement was made on Iowa's WARN website.

Forest City, Iowa

https://www.desmoinesregister.com/story/money/business/2026/10/13/winnebago-layoffs-forest-city-iowa-plant/92237440007/

(not my post, i am resharing) I was laid off from Citi after eight years, literally the day after returning from vacation. I was completely blindsided.

What struck me the most was that I had a master’s degree and years of experience in my field, while four of my colleagues had only high school diplomas and had been with the company for over 20 years. Many had landed in technology roles through reorganizations and internal connections, despite having little to no prior experience in the field. Not that there’s anything wrong with learning on the job, but it was frustrating to realize that my education, experience, and qualifications ultimately meant very little.

I was also one of the more junior employees on the team and knew I was making less than everyone else. I genuinely thought that made my position relatively secure if layoffs ever came. Clearly, I was wrong.

Unfortunately, that’s corporate America. My advice to anyone working at a large corporation is to save your money, build your financial security, and never assume a company will provide you with a career for life. Loyalty and hard work don’t necessarily guarantee job security.

One thing I will say is that you’re fortunate they gave you several months’ notice. I had absolutely no warning. It took me nearly a year to find another permanent position. About eight months into my unemployment, I landed a consulting role that lasted a couple of months, but it wasn’t until around the one-year mark that I finally secured something permanent.

My biggest criticism of Citi is that it’s an enormous institution that, in my opinion, has become far too reliant on restructuring and cutting employees to improve its bottom line rather than genuinely innovating. You can only cut your way to profitability for so long.

I’m genuinely sorry you’re going through this. I know firsthand how frustrating and discouraging it can be, especially after giving a company so many years of your life. My advice is to keep applying, and don’t overlook smaller banks. In my experience, they can offer more stability and may be less prone to the constant restructuring you see at larger institutions.

Wishing you the best of luck. Just remember, losing that job doesn’t diminish your experience, your abilities, or what you bring to the table. If there’s one thing my experience taught me, it’s that you should always prioritize your own future over a company’s loyalty to you.

22 hours ago by Anonymous | 19 reactions (+19/-0) | Reply
Post ID: @at+1m4ryn8h6

Anyone read this conversation with Paul Sanford on Iris? It’s like it was written by a corporate BS generator. It’s a really long winded way of telling us that there is going to be more layoffs and offshoring.

Well, guess more people are going to have to kiss their jobs goodbye thanks to this AMPLIFI integration.

Have we learned anything from the past, or are we watching the same movie replay in real-time?
Look at what's happening right now:

The Stock & Management: The stock has taken a beating recently, but management continues to push the same polished slides about strategic growth and operational excellence. Where is the real strategy?

Integration Disaster 2.0: Remember years ago when acquisitions were absorbed so poorly that systems broke, product lines stagnated, and teams were left in absolute limbo? We are walking straight into that exact same trap with our recent acquisitions. Instead of actual operational integration, we're getting fragmented teams, redundant leadership, and chaos in field operations.

The "Digital" Transformation Mirage: Executive leadership loves preaching "technology and digitization," but what do we actually have to show for it? The VP of Digital was quietly let go earlier this year after hyped tenure that produced virtually zero tangible, market-ready tech. If digital is our future, why is there no real, groundbreaking software or tech hitting the market? Who is actually steering this ship?

Is this just executive posturing to boost short-term metrics before another round of restructuring, or does anyone internally see a real path forward?

Just how widespread are the issues, are you seeing trainwrecks in your own product lines future? Be honest, open your eyes and look beyond this day/week/month - are you actually seeing progress?

History matters. Iridium’s original business model failed in part because it couldn’t compete effectively with terrestrial networks. The future isn’t satellites OR towers — it’s satellites AND towers.

• SpaceX needs ground infrastructure. Morgan Stanley identified towers, rooftops, and small cells as potential requirements for its expanding network.
• New competition = new customers. SpaceX could create an entirely new source of leasing demand for tower companies.
• Wall Street sees the opportunity. While major wireless carriers plunged, Crown Castle, American Tower, and SBA gained 6.5%–13.3%.
• Satellites can’t replace urban network capacity. Towers remain critical for capacity, speed, reliability, and dense populations.

But this time, we need to grow SMART — not just grow to grow.

We’ve seen what unchecked expansion can lead to: restructuring, financial pressure, and repeated layoffs. The next chapter needs to be different.

Organize. Refine. Improve efficiency. Strengthen the foundation. Then grow strategically. Build sustainable revenue, protect profitability, and invest where long-term demand supports it — not simply to get bigger.

The opportunity is ahead of us. Let’s learn from history instead of repeating it. Growth should create lasting value, not another cycle of expansion, cuts, and layoffs.

This is just a sample:

https://www.reuters.com/business/kroger-plans-cut-about-third-corporate-roles-over-next-three-years-bloomberg-2026-10-12/

https://apnews.com/article/30f0a5d88377e9969ce8994644e14498

https://www.fastcompany.com/91622849/kroger-layoffs-news-today-thousands-jobs-slashed-ceo-memo

https://www.businessinsider.com/kroger-cutting-3-000-corporate-employees-over-3-years-2026-10

https://qz.com/kroger-corporate-layoffs-3000-jobs-101326

https://www.the-sun.com/money/17137923/kroger-cut-3000-jobs-devastating-layoffs-ai/

https://www.investing.com/news/stock-market-news/kroger-to-cut-over-onethird-of-corporate-workforce-in-major-restructuring-4945218

https://economictimes.indiatimes.com/world/business/3000-kroger-jobs-at-risk-as-ceo-greg-foran-launches-sweeping-restructuring-to-take-on-rivals-in-the-battle-for-cheaper-groceries/articleshow/134911280.cms

https://timesofindia.indiatimes.com/technology/tech-news/kroger-one-of-americas-oldest-grocery-chain-to-layoff-thousands-in-its-143-year-history-heres-what-ceo-told-employees-at-townhall/articleshow/134906399.cms

https://www.grocerydive.com/news/kroger-corporate-layoffs-3000-employees/832811/

https://progressivegrocer.com/kroger-cut-3000-corporate-roles

https://www.bizjournals.com/cincinnati/news/2026/10/12/kroger-to-lay-off-thousands-of-corporate-employees.html

https://www.wvxu.org/local-news/2026-10-12/kroger-cut-3000-jobs-cincinnati

https://gvwire.com/2026/10/12/kroger-plans-to-eliminate-3000-corporate-roles-memo-shows-as-it-expands-ai-use/

https://www.news4jax.com/business/2026/10/13/kroger-to-layoff-3000-corporate-employees-over-3-years-as-it-leans-into-artificial-intelligence/

https://www.the-journal.com/articles/associated-press/kroger-to-layoff-3000-corporate-employees-over-3-years-as-it-leans-into-artificial-intelligence/

https://www.bizjournals.com/philadelphia/bizwomen/news/latest-news/2026/10/kroger-to-lay-off-thousands-of-corporate-employees.html

Anyone hear whether non-grocery divisions like Jewelry are part of the restructuring?

More lip service with no real plan while the entire environments are on fire. Clueless about AI, clueless about any real architecture, clueless about security. The only truth in the whole presentation is "consolidation". That's the whole plan, consolidate and cut while the entire digital organization has been left unfunded, neutered from the get go. Leaders have continued to fail over and over while sweeping under the rug the biggest issues and executive leadership leaving or running off to Enterprise without any accountability. Main technology leaders have left the organization while do boy yes men sit in positions and get dumped on without any real roadmap, plan, talent, or resources. It's amateur hour at its finest. If you're in Digital, get out.

Seattle-based Getty Images is undergoing a significant financial restructuring, which includes filing for bankruptcy. The company is set to become private again through a deal supported by the Getty and Koch families. This move aims to reshape the company's financial standing. The specific details of the bankruptcy filing and the restructuring process are now underway. This development marks a new chapter for the well-known image licensing company.

Seattle, Washington

https://www.seattletimes.com/business/getty-images-to-restructure-via-bankruptcy-no-seattle-layoffs-planned/

Israeli cybersecurity firm XM Cyber is undergoing a significant restructuring following the sale of its intellectual property to CrowdStrike for $600 million. This deal will result in substantial layoffs as the company adjusts its operations. Employees holding stock options are expected to receive payouts totaling tens of millions of dollars. Those who remain with the company will be offered retention bonuses to ensure continuity. The restructuring will see most employees stay with the Schwarz Group, while a smaller portion will transition to CrowdStrike.

https://www.calcalistech.com/ctechnews/article/0754rmxos

Adam Ray (Chief Commercial Officer) and Sharon Peters (Chief Marketing Officer) are out.

COO Nick Jeffery getting to work! Likely many more to come.

• Amazon - cutting fewer than 1,000 corporate jobs across its retail and Stores operations, affecting employees in the US, UK and India. The reductions follow approximately 30,000 job cuts in previous rounds.
• Netflix - reportedly preparing to eliminate about 5% of its global workforce, potentially affecting 800 to 850 employees, with announcements expected as early as this week.
• HubSpot - eliminating approximately 660 positions, nearly 7% of its workforce, as the software company reduces management layers and reorganizes its operations around AI-enabled products and services.
• FICO - planning to reduce its global workforce by approximately 15% as part of a restructuring scheduled for fiscal 2027, with hundreds of positions potentially affected.
• Flock Safety - reportedly preparing to eliminate about 18% of its workforce, amounting to several hundred jobs at the automated license plate recognition and surveillance technology company.
• Paramount / Warner Bros. Discovery - warning employees that layoffs will accompany the newly completed Skydance merger, as management seeks to consolidate overlapping operations and reduce costs.
• 3M - hundreds of customer service employees facing potential layoffs as the manufacturing company reorganizes support operations and shifts work toward a new global service structure.
• Crumbl - closing 57 cookie stores across the US and reportedly eliminating positions at its Utah headquarters following declining sales and operational restructuring.
• ECM Energy Services - warning that up to 200 workers in West Virginia could lose their jobs beginning October 18 after the company lost a long-running contract providing traffic management services to Antero Resources.
• Terrace of Hialeah - planning approximately 175 layoffs at its skilled nursing and rehabilitation facility in Hialeah, Florida, with workforce reductions scheduled to begin December 6.
• Aramark / Guinness Open Gate Brewery - 174 employees facing permanent layoffs when the brewery and visitor attraction in Halethorpe, Maryland, closes on November 1.
• Grunt Style - closing multiple retail locations nationwide, including stores in Texas and Missouri, as the military-themed apparel company restructures its business. At least 38 jobs are affected at the identified locations.
• Cardinal Glass Industries - closing its laminated glass manufacturing facility in Statesboro, Georgia, eliminating 115 jobs as the company responds to changing market conditions. Layoffs are scheduled to begin December 6.
• Kings Food Markets - shutting down two New Jersey grocery stores, resulting in 122 layoffs as the supermarket chain consolidates its retail operations.
• Beachbody - permanently eliminating 80 jobs at its El Segundo, California operations, according to a state WARN filing, with layoffs scheduled for December 7.
• Caribou Biosciences - undertaking substantial workforce reductions and discontinuing its CAR-T therapy development programs, with 87 employees affected at its Berkeley, California operations.
• Lear Corporation - closing its automotive manufacturing facility in Sterling Heights, Michigan, resulting in 67 layoffs scheduled for November 9.
• Dakkota Integrated Systems - closing its Lansing-area Michigan automotive supplier facility, affecting 67 employees in production, material handling and engineering roles.
• Markdom Plastics - closing its Bellevue, Ohio molding facility, with 78 employees facing layoffs beginning in December and the plant expected to shut down by May 2027.
• True Food Kitchen - closing restaurants following a Chapter 11 bankruptcy filing, with 89 employees affected by closures in New Jersey and additional locations shutting down in other states.
• Bank First / Peoples State Bank - permanently eliminating 47 jobs across three Wausau-area Wisconsin locations following their merger, with layoffs scheduled between December 4 and December 18.
• Provider Partners Management Services - planning 39 permanent layoffs at its Columbia, Maryland operations beginning December 7, according to a state WARN filing.
• Cloudforce Group - reporting 33 permanent layoffs at its Oxon Hill, Maryland operations in an October 6 WARN filing.
• Cayuga Centers - filing notices affecting employees at its operations in Florida and California, with 13 jobs listed in Fort Lauderdale and 12 in Los Angeles as part of planned January 2027 reductions.
• Starbucks - planning 51 layoffs connected to store closures and corporate reductions in Washington state, affecting locations in Seattle, Redmond, Vancouver and Spokane.
• Stockton University - cutting 21 positions, including 14 faculty and seven staff roles, as the New Jersey institution confronts financial pressures.
• Baltimore Orioles - eliminating 16 positions in business operations, along with additional jobs tied to its regional sports network, affecting ticket sales, creative staff and game-day entertainment personnel.
• LDG Development - the Louisville, Kentucky-based housing developer confirmed a significant round of layoffs amid rising construction costs, high interest rates and difficult market conditions. The company did not disclose an exact headcount.
• Hawaiian Airlines - planning workforce reductions involving nonunion employees in Hawaii as the carrier adjusts operations and staffing. The number of affected positions has not been publicly established.
• Ninja Theory - layoffs have begun at the Microsoft-owned game developer behind Hellblade, with employees publicly confirming departures amid uncertainty about the studio's future.

#Manufacturing #Staffing #News

I was laid off by UKG after survivng an earlier round of layoffs... and now apparently there's been ANOTHER round on 10/6.... I honestly don't know what is going on with this company anymore. When the earlier layoffs happened our team wasn't included and I thought maybe we were finally safe... then two months later I walked into a meeting with HR and was told I was being laid off. No actual explanation... nothing.

And now I'm reading about even more people losing their jobs. Some employees are saying around 250 were affected this time, although I've also seen someone mention 120+... so who knows what the actual number is. What makes this soooo frustrating is how little information seems to be getting out about these layoffs... people are finding out from coworkers, texts and internal groups instead of any real communication.

From what others are reporting, the latest cuts hit Sales, Global Alliance, Post Live, Benefits Administration, BI, IT and even the Ready product support teams... Seriously???? Apparently some of the Ready employees are being kept until February to finish their work before their separation. Imagine knowing you're losing your job but still being expected to work through year end... and from what one person reported, some employees didn't even learn what their transition duties would be from management. They found out from coworkers.

And then the VERY NEXT DAY after people were laid off... employees reportedly received an email welcoming a new VP of Customer Success. After laying off customer facing employees???? You really cannot make this stuff up.

There is also a lot of discussion about work being moved to India and the Philippines. Some employees are saying they personally trained people overseas who are now getting promoted while they're watching their own teams disappear... I don't know how widespread that is, but it's certainly raising questions about what the long term plan is for US employees.

What happened to the whole "People First" thing at UKG??? Because after everything I've experienced and everything others are reporting, that slogan just sounds ridiculous now. I don't even believe these layoffs are necessarily about performance... it feels like salary, visibility and who management wants to keep are what really matter.

I'm trying to move on from my own layoff but seeing all these additional cuts makes me wonder when this is actually going to stop... There were layoffs earlier this year, then August / September, and now October. At what point does this stop being called restructuring and just become the normal way UKG operates????

I'm curious whether others at UKG were impacted by the October 6 layoffs, particularly in Ready, Sales, Post Live, Global Alliance and BI. Is the 250 number accurate? Are jobs really being moved to India and the Philippines? And does anyone know whether more layoffs are planned before the end of 2026?

https://www.techrepublic.com/fr/article/news-washington-post-layoffs-ai-restructuring/

Markdom Plastics USA Inc. is closing its Bellevue, Ohio injection molding plant. This closure occurs only six months after the company acquired the facility. The plant has experienced multiple ownership changes recently. This latest development adds to the site's history of transitions. The future of the operation remains uncertain.

Bellevue, Ohio

https://www.plasticsnews.com/processors/injection-molding/pn-markdom-bellevue-ohio-plant-closure/

I was laid off by Amazon on 10/7 after 10 years with the company. I received the notification thru an automated text message and got an email. No phone call, no personal conversation... just an automated note ending a decade of work... To make matters worse I'm currently on maternity leave caring for my newborn and still recovering from a difficult delivery.

I worked as a nontechnical Program Manager in Selling Partner Support ... and throughout my career, I always received performance reviews that exceeded expectations... with only 2 exceptions when I transitioned into new roles. For 10 years straight... My entire team was eliminated as part of a restructuring, so I don't believe I was specifically targeted because of my leave... Amazon has noted that my formal separation will take place after my FMLA leave ends, allowing me to retain my maternity benefits before receiving transition pay+ severance+ payment for unused time off.

What makes this soooo frustrating is that despite my decade of service my compensation remained below the salary range for my role because I originally started as an hourly... I had already been questioning whether returning to Amazon made any financial sense especially with the cost of childcare nowadays...

Yet, I'm trying to find the silver lining. At least, I'll have more time with my baby, and I may help my husband grow his business which he just started... Still, the timing and the impersonal way this was handled are so hard to accept. After 10 years of dedication I expected something better than a dry robotic automated message in the middle of the night (3AM????)

I'm curious whether others at Amazon were affected by the October 7 layoffs, particularly in SPS. Which teams and organizations were impacted?

CommAv cuts / PM reorg coming?

A few folks on my team mentioned leadership is prepping a reorg between Ops and Logistics PMs over the next few weeks, with Logistics expected to take over the combined scope.

With the American Starlink announcement dropping, word is a 30% cut in CommAv is already on the horizon, with more likely coming behind it. Also noticed a few CommAv execs suddenly active with LinkedIn Premium badges recently—usually never a good sign.

Anyone else hearing similar numbers or seeing movement on their side?

The nuance here is that political systems do work. However, political systems must be based on honor and principles - and A LOT of education and intellectual honesty. The moment you corrupt a political system, all bets are off. Good, healthy politics can go a long way.

Regarding the hiring of individuals who lack basic technical knowledge, I find it curious that software is the only engineering that allows someone to design infra structure without having a degree - or anything that resembles qualification. In any other engineering context, one must have not only a degree, but maintain a license in order to touch anything. If we were building airplanes or oil platforms, most of Comcast's "technical leaders" wouldn't be allowed anywhere near a job site, by law.

I agree the problem is not limited to engineering, it impacts all verticals - its a moral problem, so cross cutting. But, if we want to regard ourselves as a technology company, then we must accept that engineering is sacred. Everything else is built on top of it. If we lack the proper infrastructure to run our services and build our features, we are dead on arrival.

GPO spent the last few years paying PWC for advice on restructuring, lay offs and systems redesign - to no benefit. Since 2022, most of the stuff we designed is garbage. It looks great on a power point presentation, but it cant be delivered in production. We are currently in a broken state across the board, and even if McKinseys was to get the restructuring right this time, it would take us a couple of years at least to get our ducks in a row so we can at least go to market with something other that a rebranding.

Comcast cannot persuade potential customers to purchase internet and security that was designed by amateurs. Entertainment maybe, but not internet and security. This sh-t is serious. There is real liability in failure. Much less can we compete with real technology companies with sharp, intelligent, competent leadership.

The good news is that there is an abundance of technical talent at Comcast. What we lack is LEADERSHIP. Comcast's problem is exclusively unintelligent, unqualified, dishonest leadership - not engineering. And if we go ahead with massive scale lay offs before we fix leadership, Comcast doesn't stand a chance.

How many reorgs have we had in the last several years? Can you point me to one concrete thing that has gotten better from them? Anything other than cost savings caused by layoffs?

I have heard from a VP that some time in 2027 they are planning to announce RTO for tech workers and also going to consolidate management levels.

RTO targeted for mid 2027 official for everyone in Austin and Atlanta. Everyone else remains remote.

Hearing about a 2027 cut in commercial loans. Can anyone verify? Middle management and management the focus to consolidate orgs.

Pepsi employees, how does it feel to be publicly scolded by your CEO? C-suite has the right plans, employees su-k. Ramon fires public warning about imminent restructure and cost (employee) cuts.

Have a great Friday and get to work!

Also, don’t forget you still have time to submit your OHS survey.

WRONG ON EVERY BIG CALL: THE RAMON RECORD

Forget personality. Judge the decisions.

CALL #1: Keep and integrate bottling.
Dec 2025: refranchising "not under consideration."
Oct 2026: "open to revisiting every option."
Result: 10 months to reverse his own flagship strategy.

CALL #2: We can win in soda.
Dr Pepper passed Pepsi as the #2 US soda.
Oct 2026, his words: "We are not competing well in soft drinks."

CALL #3: Integration will expand margins.
PBNA reported operating margin: 9.4% → 8.3% → 3.9% (2023-2025).
Q3 2026 core margin went DOWN, not up.

CALL #4: Our guidance is credible.
Cut in April 2025. Cut again October 2026.

CALL #5: The strategy creates shareholder value.
Total return since he took over (Oct 2018 to Oct 2026):
PepsiCo +53%. Coca-Cola +144%. S&P 500 +199%.
Stock: $196 peak (2023) → $128 now. Lowest close since 2020 this week.

WHO PAID FOR IT:
~$6B in restructuring charges, about half severance. Plants closed. 20% of SKUs cut. More cuts coming.
Frontline jobs absorbed the misses. Leadership didn't.

Five big calls. Five reversals or misses. Seven years.
At what point does "not satisfied with the performance" apply to the person running it?

There are more lay off expected to be announced in the coming weeks as a result of restructuring. Pembina and by large the Canadian oil and gas market is going through 'Elite Overproduction' to many wrong people in the wrong spots making a lot of money. The Canadian oil and gas environment is largely uncompetitive due to this high degree of elite overproduction that is not really amounting to much productivity gains in general. Fun times !

The truth is UP wants out of everything but the intermodal game. The "merger" is nothing more that a plan to build a coast to coast intermodal railroad. Once/if NS is acquired, UP plans on selling off all the manifest, grain coal and industry work to shortlines. This will allow Vena to cut even deeper. 50%+ of all transportation n maintenance jobs gone.
The promise of jobs for life is horseshite. Even when furloughed you are still technically employed by UP, you still have a "job"
Microman and the rat have no intention nor ability to grow UP

Starbucks has closed at least 17 locations in New York and five in Washington as part of a North American restructuring. This action affects 51 workers, with some offered transfers. The company cited customer experience and financial performance as reasons for the closures. These moves are part of the "Back to Starbucks" plan. Starbucks reported a slight revenue decrease in its third quarter.

https://suaragarut.id/en/starbucks-closes-stores-washington-layoffs

HSBC plans to significantly reduce its financial advisor workforce by approximately 70%. This move is driven by the bank's strategic shift towards automation through artificial intelligence. The cuts will also impact managers and specialists within the wealth management division. These changes are part of a broader restructuring aimed at increasing assets under management. The first layoffs are anticipated by the end of October.

London, United Kingdom

https://forklog.com/en/ft-hsbc-to-cut-70-of-advisors-in-favor-of-ai/