#restructuring

Reckitt Benckiser Group plans another round of layoffs in New Jersey. The company expects to let go 57 employees by March 2027. These job reductions will occur at its new Nutley headquarters. This is part of a restructuring campaign announced in July 2024. The strategy aims for a simpler organization focusing on core health and hygiene brands.

Nutley, New Jersey

https://njbiz.com/reckitt-layoffs-nutley-nj-2027/

7-Eleven is undergoing a company-wide reorganization. This restructuring includes an undisclosed number of employee layoffs. The changes affect various departments and leadership roles. This initiative is part of the retailer's broader transformation plan. The company aims to streamline operations and align with strategic priorities.

https://www.cstoredive.com/news/7-eleven-implements-company-wide-reorganization-layoffs/818984/

Newport Public Schools faces a substantial budget shortfall. The district projects a $2 million deficit for the 2026-2027 school year. Superintendent Jermain indicated that restructuring will likely be necessary. Potential layoffs are also under consideration to address the gap. Structural funding issues and inflation contribute to this financial pressure.

Newport, Rhode Island

https://whatsupnewp.com/2026/04/newport-public-schools-facing-2m-shortfall-with-restructuring-and-possible-layoffs-ahead/

Albertsons is undertaking a new restructuring. Two retail locations in Texas ceased operations. This impacted 138 individuals. A major acquisition attempt involving Kroger collapsed. The company now faces intense competition alone.

Texas

https://internationalsupermarketnews.com/albertsons-at-a-crossroads-store-closures-layoffs-and-the-aftermath-of-a-failed-merger/

Baptist Health Fort Smith announced significant service reductions. These changes specifically impact inpatient care offerings. The hospital is also implementing staff layoffs. Officials confirmed the facility will not close entirely. Instead, it will operate with a more limited scope of services.

Fort Smith

https://www.5newsonline.com/video/news/health/baptist-health-fort-smith-announces-inpatient-service-cuts-layoffs/527-be08743e-61cb-41ea-a62b-920573f2734c

Just informed that Jane is asking all managers to 1) revisit their org structures to ensure C15s have at least 10 directs and 2) identify support functions (such as risk reviewers) that may be duplicative with BAU functions. Anticipated restructures in June as a result of this review. This was noted as "Firm Wide". June was my managers guess.

Here is a new 41 minutes interview with Dan Schuman Interview posted 4 Hours ago on YouTube channel Semafor of you are interested. Link is at the bottom.

“If somebody’s going to punch me, I’m going to punch back,” Verizon CEO Dan Schulman says in this episode of The CEO Signal.

Schulman, who came out of retirement six months ago to lead the $200 billion telecoms company, reveals that he initially turned the job down — twice. But his mandate is blunt: stop losing customers to its rivals, regain Verizon’s “swagger,” and move it from a defensive posture to one that is “playing to win.”

That reset has come with hard choices. Schulman discusses Verizon’s major restructuring, why he chose to announce 13,000 job cuts all at once rather than “bleed it out over multiple quarters,” and why he thinks CEOs have responsibilities to employees who are leaving as well as those who remain.
Schulman describes the job of leadership as defining reality while inspiring hope — even when the reality is uncomfortable.

Schulman also looks ahead to the convergence of AI, quantum computing and robotics, and argues that CEOs need to be open-minded, humble and fast-moving. “A quick decision that is wrong and you self-correct,” he says, “is way better than spending months creating the perfect decision.”
About the show

The CEO Signal is Semafor’s interview platform for conversations with the global CEOs whose decisions are shaping the future of the new world economy. Hosted by Penny Pritzker and Andrew Edgecliffe-Johnson, the show explores the moments of judgment that define leadership.

Penny Pritzker is the founder and chairman of PSP Partners and served as U.S. Secretary of Commerce from 2013 to 2017.

Andrew Edgecliffe-Johnson is CEO Editor at Semafor and a former Financial Times journalist who has spent decades covering global companies and corporate leadership.

https://youtu.be/rIy0WpUHm_w

Cognizant announced Project Leap, a restructuring program costing up to $320 million. The company allocated up to $270 million for employee-related expenses, including severance. This plan aims to realign operations for an AI-driven environment. Cognizant expects to achieve $200 million to $300 million in savings by 2026. The company also plans to hire over 20,000 fresh graduates in 2026.

https://www.peoplematters.in/news/business/cognizant-sets-aside-dollar270-million-for-layoffs-while-launching-global-reset-plan-49482

Reading the Elliott letter again, they reference “the spin-offs of OTIS and CARR from UTX,” and note that those companies were further broken up afterward. That suggests they may continue pushing to divide Honeywell into smaller units as well.

I’m not sure whether IGS and PSS are part of this trend, but there are some indications that the restructuring may not stop with the remaining company.

Cognizant launched Project Leap to transform its operating model for AI-led delivery. This program involves investments in AI capabilities and workforce reskilling. It will also result in employee layoffs as the company shifts to an AI-led pyramid. Cognizant expects to incur $230-$320 million in costs, mostly for severance, in 2026. The company anticipates $200-$300 million in cost savings from this initiative.

https://www.thehindubusinessline.com/info-tech/cognizant-launches-project-leap-for-ai-led-future-signals-layoffs-and-reshaping-of-pyramid-model/article70921384.ece

WARNING: this post is longer -and possibly more useful- than you may expect.

So, for those who still have meetings to attend, dashboards to ignore, or layoffs to survive, here is the TL;DR:

Xerox tolerated years of weak performance, endless restructuring, and a stock chart that looked like it fell down the stairs.

Then, in February, the company raised $450M through an IP-backed JV with TPG Credit, basically borrowing against part of the Xerox crown jewels.

A few weeks later, creditors were reportedly paying attention, and suddenly Steve B was out “effective immediately”.

Maybe it is all coincidence.

Or maybe poor performance made Steve vulnerable, but the IP deal made him disposable.

Now the full blown post to see if we’ve got this right.

For years, Xerox performance looked like death by a thousand paper cuts - not one clean fatal blow, just endless small wounds: shrinking revenue, restructuring fatigue, disappearing morale, executive-level delusion... until the patient was technically alive but nobody wanted to check the pulse too closely.

The stock was crushed. The core business kept shrinking. “Reinvention” became the corporate version of putting a fresh tie on a skeleton. Employees were asked to run, rush, sacrifice, and also restructure, realign, resize, reskill, re-something every quarter.

Meanwhile, the top of the house kept pumping out “Reinvention” slides like PowerPoint decks could pay down debt, grow revenue, and make the stock chart stop looking like a cliff.

And through all of that, Steve B stayed.

The board tolerated him. The company tolerated him. The market tolerated him less enthusiastically. Employees tolerated him because, well, employees are not usually invited to vote on the circus.

Then suddenly — bo-m.

March 30, 2026: Steve “steps down”.

Louie Pastor becomes CEO effective immediately. No long transition. No elegant handover. No “after a distinguished tenure, Steve will remain through year-end”. Just corporate-speak for: “Please exit through the back door”. Xerox also reaffirmed 2026 guidance in the same announcement, which makes the timing even more interesting.

If nothing was wrong, why the trapdoor?

Here is the part employees should pay attention to.

Six weeks earlier, on February 17, Xerox announced a $450 million IP joint venture with TPG Credit.

Translation for normal humans: Xerox took valuable intellectual property (the sort of assets that make Xerox, Xerox) and put them into a special financing structure to raise cash. Xerox said the deal was designed to strengthen the balance sheet and support liquidity, Reinvention, Lexmark integration, and possibly debt repayment.

In plain English: when a company starts pawning the crown jewels to keep the lights on, people are allowed to ask whether this is a clever financing move or the corporate equivalent of playing your last card.

Now, is that illegal?

Not necessarily. Smart lawyers get paid obscene amounts of money to make aggressive things look technically permissible. Xerox disclosed the deal. Serious advisers were involved. The paperwork was almost certainly blessed by lawyers billing at rates normally reserved for organ transplants and ransom negotiations.

But let’s not pretend this was a normal “strategic partnership”. This was not two companies joining hands to invent the future.

This was Xerox raising money against the crown jewels because liquidity matters when the "balance sheet" drops "balance" and starts looking like "sh*t".

And creditors noticed.

Octus reported that Xerox lenders were preparing a cooperation agreement following the “deal-away” transaction. Debtwire/Ion Analytics later reported that a lender group had signed a cooperation agreement after the $450 million TPG-led deal-away transaction.

That is finance-world language for: “The people who lent money are not calmly sipping herbal tea”.

Why would lenders care? Because if valuable assets are moved into a new structure where new money gets priority, existing creditors may worry that value has been shifted away from them.

Again: maybe legal. Maybe documented. Maybe clever. But definitely suspicious.

So now look at the sequence:

• February 17: Xerox announces $450 million IP-backed JV with TPG Credit.
• Late February: lenders reportedly start organizing after the transaction.
• March 30: Steve B is suddenly out, Louie Pastor is in, effective immediately.
• April 2: Xerox files Steve’s separation terms, including non-disparagement, non-compete, non-solicitation, cooperation obligations, continued vesting, and severance mechanics.

Nothing to see here, folks. Just your average corporate spring cleaning: monetize IP in February, creditors start circling, CEO disappears in March, and everyone smiles for the press release.

Maybe it is all coincidence.

Maybe Steve suddenly discovered a passion for gardening.

Maybe the board, after years of tolerating him as the corporate equivalent of the Ringling Bros. and Barnum & Bailey Circus Chief Clown, finally woke up one Monday and said, “You know what? Leadership quality matters”.

Or maybe the IP deal changed the risk.

That is the real theory.

Poor performance made Steve vulnerable. But poor performance alone does not explain the suddenness. Xerox had been under pressure for years. The stock did not collapse overnight. The business did not become difficult in March. Employees did not suddenly notice the “Reinvention” machine was mostly powered by layoffs and vocabulary.

The more plausible question is this:

Did the board get scared?

Scared that the IP-backed financing was too aggressive?
Scared creditors might challenge it?
Scared the company had moved from “bad strategy” into “legal exposure”?
Scared that if this thing went sideways, directors might be asked what they knew, when they knew it, and why they approved it?

Boards can tolerate weak CEOs for a long time. They can tolerate bad morale. They can tolerate stock charts that look like ski slopes. They can tolerate employees screaming and leaving.

But creditor lawyers? That is different.

Once lenders start organizing, the room gets colder.

This does not prove Steve did anything illegal. It does not prove the board did anything illegal. It does not prove the TPG deal was invalid. But it does suggest Steve’s sudden exit may have had less to do with “fresh leadership” and more to do with risk containment.

In corporate terms, Louie Pastor may not just be the new CEO. He may be the adult brought in to stand next to the smoking g-n and say, “Everything is under control”.

The official story is simple: Steve stepped down, Louie stepped up, guidance was reaffirmed, please continue working harder with fewer people.

The unofficial employee version is more interesting:

Xerox may have borrowed against the crown jewels in February, creditors started paying attention, and by March the CEO was gone.

Maybe that is coincidence.

But at Xerox, there are no coincidences.

Indian IT and outsourcing companies filed multiple WARN notices. These included Hinduja Global Services, Infosys, and HCL Technologies. Filings occurred in US states like Texas, Florida, and Pennsylvania during early 2026. This surge indicates accelerated restructuring, exceeding 2025's total. Artificial intelligence adoption and cost pressures are driving these changes.

https://www.msn.com/en-in/money/news/in-first-three-months-of-2026-hinduja-global-services-infosys-and-hcl-tech-have-filed-warn-notices-in-the-us-states-of-texas/ar-AA20uFSY?apiversion=v2&domshim=1&noservercache=1&noservertelemetry=1&batchservertelemetry=1&renderwebcomponents=1&wcseo=1&bundles=feat-es2020-c

Hear Elimination of HO/Upstream/Facility Service Regionals , Downsizing FS Manager Qty and streamlining to less directors. Overhead cuts look to be on Horizon......

IAC is changing its corporate name to People Incorporated. Neil Vogel will assume the role of CEO. Barry Diller will become the executive chairman. The company will concentrate on People publishing and MGM Resorts investments. This restructuring plan involves staff reductions.

https://www.hollywoodreporter.com/business/business-news/barry-diller-shakeup-iac-to-people-inc-neil-vogel-new-ceo-1236578906/

Healthcare layoffs are increasing across the U.S. due to rising costs and restructuring. These job cuts, including thousands at Cigna and Viatris, reduce employer-sponsored health benefits. Patients losing coverage face fragmented and expensive healthcare systems. Many transition to freelance or part-time roles with limited benefits. Providers are responding by adopting membership-based models for more predictable care.

https://www.digitaljournal.com/life/layoffs-are-quietly-cutting-off-us-healthcare-access-what-should-patients-so/article

Artificial intelligence is creating a significant divide in the global workforce. Professionals with AI skills are seeing increased productivity and higher paychecks. Companies like Meta and Amazon are restructuring roles, with AI handling repetitive tasks. Human workers are left with high-order thinking, strategy, creativity, and empathy. This trend is leading to AI-related layoffs and job redefinition. Without proper reskilling efforts, this gap could become a major structural divide.

https://www.thehrdigest.com/ai-layoffs-are-creating-a-new-divide-in-the-workforce/

"Restructuring proposal which may affect several roles in Ireland, provisionally including yours"

Does anyone know how much was the redundancy last time?

Republic National Distributing Company (RNDC) issued conditional WARN notices. These notices potentially affect 2,774 workers across several states. The action relates to a pending transaction with Reyes Beverage Group. RNDC is restructuring operations and transferring some state businesses. Many affected employees may transition to Reyes or remain with RNDC.

https://www.thestreet.com/employment/another-major-alcohol-distributor-rndc-signals-nearly-2800-job-cuts

PHK stands for Pemutusan Hubungan Kerja, which means termination of employment or layoff in Indonesia. It signifies the official end of a working relationship between an employer and an employee, often due to company cost-cutting, restructuring, or closures, particularly in sectors like manufacturing and tech.

For us that was affected by the recent restructuring RIF, how's the job market in your area? The job market is bad and no one wants to hire experienced talent anymore.

You're too old, you're too expensive and only offering 1099 contact jobs well below your old salary with zero benefits. Sorry, got a family, life and mortgage to pay and that sorry severance package is not going to cover it. They say the average is now 9 months plus for tech people to find a new position.

How are the others on the "restructuring/post-merger" fun club doing?

I guess the ones left back at Ansys are getting cost of living raises and covering all the leftover work from the ones that got the chopping block.

The PGA Tour cut 56 full-time employees. This reduction impacts about four percent of its staff. These changes follow a $1.5 billion investment from Strategic Sports Group. A new CEO model is now in place. A shorter schedule and new markets are under consideration.

https://golfweek.usatoday.com/story/sports/golf/pga/2026/04/23/pga-tour-layoffs-2026-cuts-4-percent/89753519007/

Nike announced 1,400 layoffs. These cuts primarily affect its operations division. The company is undergoing an ongoing turnaround effort. Workers at Air manufacturing facilities and Converse are impacted. The moves aim to strengthen Nike's foundation and improve operations.

https://www.sportsbusinessjournal.com/Articles/2026/04/23/nike-announces-layoffs-mostly-in-operations-division/

The PGA Tour laid off 56 employees on Thursday. This represents about 4% of its global staff. The organization is undergoing a right-sizing for its new for-profit structure. FTI Consulting audited the tour and provided recommendations. The PGA Tour also will not fill 73 open roles.

https://www.sportsbusinessjournal.com/Articles/2026/04/23/pga-tour-lays-off-4-of-staff-amid-organizational-right-sizing/

Electrolux plans a temporary closure of its Anderson County plant. This decision will lead to 1,200 employee layoffs. Electrolux is restructuring its North American business with Midea. The factory will convert to fabric care from food preservation. Affected staff will be invited to return when the site resumes operations in 2027.

Anderson, South Carolina

https://www.independentmail.com/story/news/local/2026/04/23/electrolux-anderson-south-carolina-plant-layoffs/89754668007/

Nike announced 1,400 layoffs on Thursday. Most of the affected roles are in technology and operations. This action is part of an ongoing company turnaround effort. It marks the fourth consecutive year of significant job cuts. CEO Elliott Hill aims to reboot sluggish sales and reduce direct sales reliance.

Beaverton, Oregon

https://www.oregonlive.com/business/2026/04/nike-announces-1400-layoffs-mostly-in-operations-and-technology.html

When stock underperformance stretches over years, restructuring no longer feels like a reset and we employees are paying for strategic failure twice...

I've only seen the Q numbers. Was there any mention of cuts or reorg?

Lowe's Companies announced plans to cut 600 corporate and support roles nationwide. This reduction represents about one percent of its total workforce. The company aims to shift resources toward store operations and customer-facing employees. Many affected employees are based in Mooresville and Charlotte, North Carolina.

Mooresville, North Carolina

http://www.msn.com/en-us/money/companies/lowe-s-begins-layoffs-in-north-carolina-plans-600-job-cuts/ar-AA1WBcI5?apiversion=v2&domshim=1&noservercache=1&noservertelemetry=1&batchservertelemetry=1&renderwebcomponents=1&wcseo=1&bundles=feat-es2020-c

Many U.S. companies, including several in California, announced layoffs this week. These job cuts span various industries like technology, finance, and healthcare. Companies such as Lucid Group, C3.ai, and Wells Fargo are among those affected. The reductions reflect restructuring efforts and cost-cutting measures. Automation and artificial intelligence also contribute to these workforce changes.

https://patch.com/california/across-ca/thousands-layoffs-announced-ca-companies

Battery recycling firm Redwood Materials laid off approximately 135 employees. This reduction represents about 10% of its total workforce. The company stated the cuts are part of a strategic restructuring. CEO JB Straubel aims to streamline operations for its energy storage business. This follows a previous 5% staff reduction five months prior.

https://americanbazaaronline.com/2026/04/22/redwood-materials-lays-off-10-workforce-despite-6b-valuation-479440/

ASML announced a reduction of 1,700 staff members. This action targets bureaucratic inefficiencies. The company seeks faster decision-making. It will create 1,400 new technical positions. This emphasizes a focus on core engineering.

https://m.economictimes.com/news/international/us/asml-layoffs-job-cuts-the-king-of-advanced-chip-making-machines-cuts-1700-jobs-in-major-shake-up-but-is-china-ready-to-lure-them-all-and-forge-its-own-asml-empire/amp_articleshow/130441501.cms

Bloomsbury, a UK-based publisher, announced a restructuring plan. The company intends to streamline its operations for future growth. About 55 positions will be eliminated in the US and UK. Bloomsbury will reorganize its three main editorial divisions. These changes are scheduled to take effect on June 1, 2026.

https://locusmag.com/2026/04/bloomsbury-layoffs/

When the Washington Post announced mass layoffs, in February, the company offered severance packages to the roughly three hundred and fifty staff members losing their jobs. To receive their severance, these employees would have to sign their packages by April 10; they would then begin receiving the payments after April 30. But after the terms were set, something strange happened. Editors who were overseeing the laid-off employees began contacting several of them, asking them to return—not as full-time staff, but to work under what their union called a “delayed layoff.” These editors had been given little say over who was originally dismissed, but in the weeks since, they have appeared to be driving an effort to bring certain reporters back to the newsroom. According to Kathleen Floyd, a communications lead and internal organizer at the Washington-Baltimore News Guild (WBNG), the bulk of these reach-outs happened in March; a few are still trickling in. Under the updated terms, the employees will resume their duties through July. “Everyone’s just doing the best they can with this really sh---y situation,” a Post reporter said.

https://www.cjr.org/analysis/washington-post-tries-regroup-after-major-cuts-layoffs-delayed-rehire-former-staff.php

Starbucks is reducing tech positions following a new CTO's arrival. The company aims to move faster and sharpen focus. Several employees posted about the job reductions. The number of affected staff remains unspecified. This is part of a wider company turnaround.

Seattle, Washington

https://www.geekwire.com/2026/starbucks-cuts-tech-jobs-as-new-cto-reshapes-organization/

Starbucks |

LHH research indicates 87% of HR leaders plan or have conducted layoffs. These workforce reductions are driven by skills displacement, AI, and market shifts. Most employers find rehiring talent more costly than internal redeployment. A significant gap exists between HR leaders' perception and employee awareness of redeployment programs. Organizations need integrated strategies for outplacement and targeted redeployment to manage continuous restructuring.

https://www.corsicanadailysun.com/national/87-of-hr-leaders-have-conducted-or-plan-layoffs-in-2026-new-lhh-research-reveals/article_52434386-0c93-56bd-b445-9854ebb72d1a.html

Mad Cave Studios recently laid off several employees. This included senior editors and marketing staff members. The company's president, Mark Irwin, cited the need for long-term health. He stated the changes allow for resilience and strategic investment. These layoffs follow similar staff reductions at Marvel Comics.

https://bleedingcool.com/comics/mad-cave-lays-off-editors-marketers-its-president-tells-us-why/

LAHSA will issue layoff notices to 284 employees. Their final day of work is scheduled for June 30. This action is part of a restructuring plan. The agency cites impending county funding cuts and a shift in its role. LAHSA will now focus on governance, data management, and federal funding.

Los Angeles, California

https://mynewsla.com/business/2026/04/20/lahsa-announces-plans-to-layoff-nearly-300-employees-amid-shift-in-funding-2/

BNY employees increasingly describe changes that align with the AI‑driven cost‑reduction strategies McKinsey promotes to large financial institutions.

The most visible shift we see is the steady automation of repetitive, rules‑based work that RV brags about in the media — onboarding, KYC refresh, reconciliations, service requests, and exception routing. Employees report that tasks once handled by full teams are now processed through AI‑enabled workflows, reducing the need for manual roles and shrinking job families.

Decision‑support AI is also reshaping middle‑skill positions. Workers note fewer analyst roles, broader spans of control, and more “AI‑assisted” oversight, which mirrors McKinsey’s recommendation to streamline mid‑tier functions by embedding intelligence into platforms rather than people.

The Platform Operating Model (P-O-M) accelerates this transition. Employees describe work being standardized, centralized, and moved offshore once AI reduces the skill threshold required. This matches McKinsey’s model: automate first, relocate second.

The impact on employees is becoming clearer. Career paths in legacy operations, service, and processing roles are narrowing as automation absorbs institutional knowledge and reduces the value of tenure. Job security is declining in functions where work can be digitized, offshored, or both. New roles are emerging in AI governance, data quality, and exception management — but not in volumes that offset reductions.

Employee reports consistently reflect the same conclusion: AI is not just a tool at BNY; it is a restructuring engine.