#restructuring

Heads up to everyone tracking the recent organizational shifts. There has been a major leadership shakeup within the Wholesale division. Several high-level executive and management positions were impacted today as part of a broader structural realignment.
Word is this is tied to the ongoing corporate restructuring to flatten the organization and shift strategic focus.

Amazon has announced another round of job cuts impacting various departments including retail, engineering, and customer service. These latest layoffs are part of an ongoing restructuring effort by the company. This comes as Amazon prepares for significant investments in artificial intelligence infrastructure. Employees affected are reportedly seeking clarity on severance and future opportunities. The company stated these cuts are to improve operational speed and align resources.

https://www.bwpeople.in/article/amazon-announces-fresh-layoffs-as-ai-infrastructure-spending-accelerates-627484

Credit scoring giant FICO is implementing a substantial layoff, cutting 15% of its workforce. This restructuring involves reducing management layers and streamlining operations. The company is also integrating AI into its product development processes. These changes are expected to be completed by the end of the third quarter of fiscal year 2027. FICO anticipates recording approximately $27 million in pretax charges related to severance costs.

San Jose, California

https://www.housingwire.com/articles/fico-layoffs-competition-mortgages/

Starbucks is closing five coffee shops in Washington state and eliminating eight positions at its Seattle headquarters. This action impacts 51 workers, with job separations scheduled from mid-November through early December. The company stated these changes are part of a previously announced restructuring plan. Some affected employees may be offered transfers to other locations. The notice confirms permanent terminations for most positions.

Seattle, Washington

https://komonews.com/news/local/october-fall-starbucks-layoffs-psl-pumpkin-spice-latte-seattle-coffee-shops-business-corporate-headquarters

Hertz’s story has been more restructure and squeeze efficiency out of the organisation than slash thousands of jobs. It’s layoffs season hopefully we remain intact. Thoughts?

A cautionary tale for the people who built an empire and the people determined to hold on to it.

There was once a company that started with 1,200 cable subscribers and a few people who believed they could build something extraordinary.

And they did.

It was a company where employees were treated like family, and for many of them, that word actually meant something. There were leaders who cared about their people, who understood that success wasn’t measured by how much power they accumulated, but by what they helped others accomplish.

People stayed for decades because they believed in the company and the people leading it.

Then the little company became an empire.

And somewhere along the way, something changed.

The empire created wealth. Wealth created power. And power began changing the people entrusted with it.

Some leaders became more interested in protecting their positions than questioning their decisions. They surrounded themselves with familiar faces, rewarded loyalty, and slowly built an organization where challenging the person above you could become more dangerous than making the wrong decision.

But the real trouble began when the company started believing its own success was permanent.

For decades, Comcast had a product people needed. It could command a premium because customers had limited alternatives.

Then the alternatives arrived.

Fiber. Fixed wireless. Streaming. Customers who no longer needed the same bundles or valued the same things.

And rather than fully accepting what the market was telling them, some leaders seemed convinced the market had it wrong.

Competitors were pricing too aggressively. Fiber was supposedly underpriced. Comcast still had the superior product. There was no reason to fundamentally change the approach.

Imagine that.

Customers are leaving. The stock is approaching levels not seen in 13 years. The competitive landscape has fundamentally shifted.

And the company is still arguing with the market about what its product should be worth.

That’s the danger of spending too long surrounded by people who reinforce what you already believe.

Eventually, you stop asking whether you’re right.

You start looking for explanations for why everyone else is wrong.

And inside the company, employees were watching a similar pattern unfold.

The people who questioned decisions weren’t always welcomed. Employees shared stories of favoritism, stalled careers, fear of retaliation, and leaders who seemed more interested in authority than accountability.

Some of those employees had given 20 or 30 years to the company.

And when they spoke about what they were experiencing, some were called whiners.

The company that once called its employees family was now struggling to hear them.

So leadership announced more changes.

Another restructuring. Another transformation. More cost reductions. More businesses separated. Another day in the office. More restrictions on promotions and career mobility.

Everything kept changing except the convictions of the people directing it.

And here’s the tragedy.

The company didn’t lack intelligent people. It didn’t lack resources. It didn’t lack warnings.

What it may have lacked was enough leaders willing to admit that the world they had mastered no longer existed.

Some had spent decades building their careers inside that world. Their authority, their reputation, their compensation, even their sense of identity were tied to it.

Admitting the old model was failing would mean admitting that the experience that once made them successful might no longer be enough.

And for some people, that’s harder than watching the business decline.

Because ego can make a leader defend a losing strategy long after the evidence says it’s time to change.

Now the company sits around $20 a share, and employees are left wondering how much more they’re expected to sacrifice while the people making the decisions continue to explain why their strategy is sound.

Maybe the company will recover. Maybe the people at the top will find the courage to question themselves.

Or maybe the company will keep getting smaller, selling pieces of what generations of employees spent their lives building, until all that’s left is a fraction of what it once could have been.

And someday, when someone writes the history of Comcast, they’ll talk about fiber, streaming, wireless competition, and changing consumer behavior.

But I wonder whether they’ll also tell the story of the leaders who became so powerful that nobody could challenge them, so comfortable that they couldn’t imagine being wrong, and so attached to their positions that they couldn’t recognize when it was time to make room for something different.

The company didn’t fail because the world changed.

It began losing its way when the people running it could no longer accept that the world had changed without their permission.

And the saddest part?

The people who built the company may end up paying the price for the people who couldn’t let go of it.

Semiconductor firm Blaize Holdings has implemented significant staff reductions. The company cut approximately one-quarter of its employees. This strategic move aims to refocus efforts on areas where Blaize generates the most value. The CEO acknowledged the difficulty of the decision and the contributions of affected employees. The company is prioritizing its core strengths.

El Dorado Hills, California

https://www.bizjournals.com/sacramento/news/2026/10/01/blaize-layoffs-restructuring.html

Offering a little perspective on all the “GF is doomed” comments:

I understand the frustration. Layoffs, compensation, promotions, management decisions and uncertainty are legitimate things to discuss.

But I think we’re sometimes looking at GF through a very narrow lens: What is happening to me or my department right now?

Zoom out.

Semiconductors are being reshaped by AI and hyperscaler demand, geopolitical competition, U.S.-China tensions, tariffs and export controls, supply-chain regionalization, reshoring, government subsidies, national-security priorities, energy constraints, and the growing importance of domestic semiconductor capacity. This isn’t a normal semiconductor cycle. Governments are increasingly treating chips, advanced manufacturing, photonics and related technologies as strategic infrastructure.

And look at GF’s recent moves.

$375M in federal funding for quantum manufacturing. Expanded Marvell capacity tied to AI data-center optical connectivity. New silicon/indium-phosphide photonics capabilities. And just yesterday, GF announced a multiyear partnership with Xanadu to industrialize photonic quantum components on the 300mm Malta line.

That’s a pretty interesting strategic pattern.

None of this means employees shouldn’t criticize leadership or worry about layoffs. Those concerns are real.

But restructuring, cost pressure and employee frustration can coexist with a company positioning itself for strategically important growth.

So instead of only asking “Who’s getting cut next?”, maybe it’s worth asking:

What is GF becoming? What technologies and markets is it positioning itself around? What does the geopolitical semiconductor landscape look like 3–5 years from now? And what capabilities will GF need to compete in that environment?

You don’t have to be optimistic about everything to be curious about where the industry is going.

Maybe that’s a more useful conversation.

British postal service Royal Mail has announced a plan to reduce its workforce by up to 2,500 positions by the end of 2027. This restructuring aims to streamline operations and adapt to changing market demands, particularly the decline in letter volume and rise in parcel services. The company intends to achieve these reductions primarily through natural attrition and voluntary departures, avoiding mandatory layoffs. Frontline delivery and processing roles will remain unaffected by these proposed changes. Royal Mail has initiated formal consultations with its trade unions regarding the transformation plan.

London, United Kingdom

https://www.democrata.es/en/economy/royal-mail-plans-to-eliminate-2-500-jobs-before-2027/

When companies claim AI is the reason for job cuts, HR must rigorously examine these assertions. The article highlights that AI is often cited alongside other reasons like cost-cutting and restructuring. HR should require clear evidence that specific tasks have been eliminated by technology before approving headcount reductions. This includes demonstrating how AI performs the work, what human oversight remains, and the expected business improvements. Furthermore, HR needs to ensure managers are equipped to lead redesigned workflows and that redeployment options are thoroughly explored before any positions are eliminated.

https://www.smartbrief.com/original/ai-layoffs-need-a-stronger-hr-evidence-standard

Software company HubSpot is laying off 660 employees, which is approximately 7% of its total staff. CEO Yamini Rangan stated the layoffs are part of a restructuring effort to improve speed and customer focus. These changes aim to align the company's structure and resources with its long-term strategy. Rangan clarified that the layoffs are not due to AI replacing jobs or for cost-cutting purposes. The company is reducing management layers to expedite decision-making.

Cambridge, Massachusetts

https://www.boston25news.com/news/local/cambridge-based-hubspot-announces-660-layoffs-amid-restructuring/JYFVTFT2QVEF5EE44PGWKF37CA/

Microsoft is reportedly preparing for another round of job cuts, potentially impacting approximately 5,700 employees. These reductions are expected to occur as early as next week, coinciding with the start of the company's new fiscal year. While some affected employees may be offered new roles internally, the layoffs are framed as part of ongoing organizational restructuring. This move follows previous significant workforce reductions in 2023 and 2024. The company's stock has seen a recent increase in overnight trading.

https://stocktwits.com/news-articles/markets/equity/microsoft-layoffs-coming-next-week-msft-stock-climbs-overnight-retail-stays-bullish/cZm3TWRR7K2

Layoffs have commenced at Ninja Theory following the collapse of two potential deals to save the studio. Former employees have confirmed their departures on social media. Microsoft has not provided an official number for the affected roles. The studio's future remains uncertain as a consultation process on a proposed closure is underway. This development is part of a broader restructuring within Xbox Game Studios.

Cambridge, England

https://shattered.io/ninja-theory-layoffs-begin-named-staff-2026/

Harborstone Credit Union has confirmed systemwide layoffs impacting fewer than 40 employees. The credit union stated the organizational restructuring was done to align with future business needs and improve efficiency. Positions affected included branch managers, operations, and finance roles. Harborstone is providing transition support to those impacted. This follows a period of significant expansion for the credit union.

Lakewood, Washington

https://www.thenewstribune.com/news/local/article317499783.html

Information Suppression via Confidentiality Agreements
When severance is paid out—whether during traditional restructuring waves or voluntary PEP opt-outs—information is tightly suppressed through legal agreements:
Strict NDAs & Non-Disparagement: To receive severance pay, employees must sign a separation agreement that includes non-disclosure, non-disparagement, and strict confidentiality clauses regarding their departure.
Liability Waivers: Payouts are contingent on workers waiving their rights to sue under statutes like the Age Discrimination in Employment Act (ADEA) or ERISA. Discussing package details or the circumstances of the exit publicly risks forfeiting the payout entirely.

Bypassing Public Disclosures (WARN Act & SEC Filings)
Reclassifying headcount reductions as individual performance terminations directly suppresses public visibility:
No WARN Act Filings: The federal Worker Adjustment and Retraining Notification (WARN) Act requires 60 days' advance notice for mass layoffs. Terminating individuals incrementally for "performance" does not trigger WARN criteria, allowing headcount to shrink without state notice.
SEC Accounting: Formal RIF payouts require clear line-item disclosures under "Restructuring and Severance Charges" in quarterly SEC filings. Performance firings are absorbed into normal operational overhead, hiding the true scope of white-collar workforce reductions from investors and news outlets.

This used to be a respectable place to work. No more. A few are determining the value of many. I am embarrassed to be associated with Roberts, Croney and Angelakis. To see senior leaders embarrassed to carry the message forward speaks volumes. Courage is the responsibility to make hard decisions. Cowardice is to announce a major restructuring on September 9 and leave your entire staff clueless even into mid October. To see what these actions have done to the rank and file is horrific. A stock at or near a 52 week low is exactly what those executives that hope to profit deserve. You have failed us and you continue to fail your customers. Everyone of us you let go will be a sub you lose. Even we know the better value that exists even beyond our discount. I could not be more disappointed in a leadership group that I thought had more integrity and vision. Honestly, you do not deserve our loyalty, our effort, or our commitment. We deserved better. So make your decisions quickly because we have meaningful lives to live and Comcast will be a faded/distant memory.

Hiring Freeze
Fixed Cost Reductions (Riff/Furloughs)
Layer Removals

Who knows what’s in store for the near future ?

ExxonMobil employees talk about offshoring to India more loudly than many other companies because the scale, speed, and visibility of ExxonMobil’s India expansion is unusually large and it directly affects U.S. technical, engineering, and support roles in a way employees can feel immediately.

WNY claims dept is combined with bluecard home and host claims now. All employees in this department are cross trained. Rumor is union meeting the end of the month to advise of reduction in wf in this dept by half...can anyone confirm or deny this?

Nike is implementing further workforce reductions as part of its Pace restructuring program. This initiative aims to achieve approximately $2.5 billion in cumulative savings by fiscal year 2031. The company plans to streamline operations, reduce duplication, and reallocate resources to priority areas. While the exact number of affected roles has not been disclosed, leadership indicated changes to the workforce's size and structure. These layoffs are a component of a broader operating model overhaul designed to drive business turnaround.

https://anz.peoplemattersglobal.com/news/workforce-planning/nike-plans-further-layoffs-as-it-targets-dollar25bn-in-savings-52519

Top down to Tara - R&D and Athena - S&T they have been told to bring in the McKinsey model -Only 7 layers in the business and you either have 0 direct reports or 5 or more. This is going to be brutal for both organisations. Major changes could lead to a big cut in workforce. They are going to try to minimise layoffs. US and Europe MEA will have the biggest shift / change

It seems pretty sprawling… Obviously there will have to be some deduping in APLA, but pretty vague on where the cuts are happening in global. Any indication where additional cuts and restructuring are happening?

There's a set schedule.

There are going to be more layoffs, a lot more restructuring, and a lot more consultants and the Corporate Clueless micromanaging stuff they don't understand. Mission Simplify is just getting started.

Bumping this from @fs+1m3a32zbw for info.

Several manufacturing companies are implementing significant layoffs across various industries. Volkswagen announced plans for approximately 50,000 job cuts as part of a broad restructuring. Sunlite Plastics will lay off 41 employees at its Wisconsin facility due to decreased orders. Ozark Materials, a subsidiary of PPG Industries, is closing its Alabama plant, impacting 52 workers. Pearson's Candy Company has also shut down its Minnesota facility, resulting in 80 layoffs.

https://www.plantservices.com/industry-news/news/55409359/factory-fallout-manufacturing-layoffs-from-volkswagen-sunlite-plastics-and-more

Brown University Health is implementing cost-saving measures due to significant financial pressures. The organization is offering voluntary buyouts to 200 non-clinical supervisors. Additionally, ten executive positions have been eliminated as part of a restructuring. These actions aim to strengthen the company's financial foundation. The hospital operator faces rising costs and increased uncompensated care.

Providence, RI

https://rhodeislandcurrent.com/2026/10/02/amid-bleak-financial-forecast-brown-health-announces-buyouts-executive-layoffs/

Interviewer: I feel like over the last three or four years, every six months you guys are cutting people and restructuring.

Dana Walden: I think that’s probably an exaggeration.

Interviewer: But it’s not just Disney. It happened at Warner Bros. Discovery. It happened at Paramount. I’m just wondering, how are there still people to fire? And how is there still restructuring when you’ve already fired thousands of people?

Dana Walden: Wow. The snarkiest possible version of this question.

I would start with this: we’re not firing people every six months.

I think, like all of our similarly situated competitors, and certainly our competitors in the tech industry, there is a need to constantly evaluate how you’re structured.

Disney, along with core Disney, is a series of amazing acquisitions. So we had to make decisions around centralizing and functioning more as a television business, rather than as a group of silos.

And that required us, again, to evaluate: How many people do we need? At what point do you have so many people that it’s actually keeping you from being agile and slowing down the speed of decision-making?

I really don’t think, in this exact moment, that we’re the company that’s going to be the tip of the spear around any kinds of efficiency targets or layoffs.

It is extremely painful. We’ve exited colleagues who I’ve worked with for most of my career.

In many ways, it is a harsh reality.

https://vm.tiktok.com/ZN8hVjDPF/

Microsoft has initiated another round of job cuts, impacting hundreds of employees. These latest eliminations follow a significant restructuring announced just three months prior. The affected positions span various roles, with a notable concentration within the Xbox gaming division. This ongoing workforce adjustment is part of a broader strategic reset for the company. The reductions are occurring as Microsoft invests heavily in cloud computing and artificial intelligence infrastructure.

Redmond, Washington

https://www.thestreet.com/employment/microsoft-cuts-hundreds-more-jobs-layoffs-restructuring-warn

https://www.techrepublic.com/fr/article/news-crypto-com-layoffs-ai-shift/

Two Orlando-area companies are implementing substantial workforce reductions. Pharmaceutical firm AssistRX will lay off up to 86 employees initially, with potential for more to follow. Financial services company Hancock Whitney is also reducing its staff by 52 employees due to restructuring. These layoffs are expected to be permanent.

Orlando, Florida

https://www.clickorlando.com/news/local/2026/10/02/mass-layoffs-reported-at-two-orlando-companies/

Nike is implementing another round of cost-cutting measures, including job reductions, as the company faces declining sales and a weak outlook. Quarterly revenue fell by 4%, with significant drops in Nike Direct and digital sales. The sportswear giant is also restructuring its operations under a new plan called Pace, aiming for substantial savings by fiscal year 2031. Challenges persist in key markets like Greater China and with the Jordan Brand. The company's stock has seen a significant decrease over the past year, reflecting these ongoing business pressures.

https://www.indiatoday.in/business/story/nike-struggling-sales-decline-layoffs-china-weakness-turnaround-mbappe-left-3007988-2026-10-02

Walt Disney Company is set to restructure its television operations. This significant change is expected to result in hundreds of job cuts. The company is undertaking this initiative to streamline its media and entertainment divisions. Further details regarding the specific roles affected are anticipated. This move signals a strategic shift in Disney's television business.

https://finance.yahoo.com/markets/stocks/articles/market-chatter-disney-plans-tv-202035438.html

Montreal-based apparel retailer Reitmans has eliminated 41 positions at its corporate offices. These layoffs are part of a larger reorganization strategy intended to enhance the company's profitability. The reductions occurred in September and are considered the final stage of these restructuring efforts. This follows earlier job cuts at the headquarters and a distribution center earlier in the year. The company aims to strengthen its long-term growth and financial performance through these changes.

Montreal, Quebec

https://us.fashionnetwork.com/news/Reitmans-cuts-41-headquarters-jobs-in-latest-round-of-layoffs,1872481.html

Nike is initiating a significant four-year restructuring plan aimed at achieving $2.5 billion in cost savings. This initiative, named "Pace," will involve trimming the company's size and reorganizing its global operations. Layoffs are expected to commence in calendar year 2027 as part of these efforts. The company's financial performance has been impacted by declining sales and strategic shifts. Nike aims to revitalize its business through these comprehensive changes.

https://www.sportico.com/business/commerce/2026/nike-earnings-revenue-stock-price-1234946372/

Nike has announced a significant restructuring plan that includes unspecified job eliminations. This move comes as the company reported quarterly sales that fell short of analyst expectations. The restructuring will involve consolidating sales regions and establishing a new campus in India. CEO Elliott Hill stated the changes aim to accelerate momentum in the performance business. Employee impacts from these decisions are expected to begin in 2027.

Beaverton, Oregon

https://www.oregonlive.com/business/2026/10/nike-announces-new-restructuring-layoffs-stock-dips-to-lowest-level-in-13-years.html

Are you noticing more entry level, VP or senior/director employees being laid off this year? I saw a series of lower level employees get let go but then periodically I’m seeing VPs and other long term employees get axed for no reason too. What even is their goal here? I get they are “restructuring” and AI but this just feels like teams are just on life support. What percent odds do you think they will reverse course in the future? How often do directors and above get let go? Has ANYONE seen someone higher up get let go apart of this?

She’s been in the league four years, so congratulations on beating years 1 through 3.

Also SHAI HAS A NEW SHOE.

Please look at the shoes and stop looking at the income statement.

The turnaround program is now called PACE.

Which is objectively hilarious because about a month ago everybody was asking how the he-l Nike still has an 18-month go-to-market timeline.

Analyst basically asked that exact question on the call:

“What are you doing about the 18-month timeline?”

We hit him with:

“Anyway, let me tell you about PACE.”

That was the quickest deflection of the entire earnings call.

PACE.

Because nothing says speed like taking a year and a half to get a shoe to market.

Part of PACE is simplifying the organization, removing layers and moving work closer to where it can be done faster.

Translation: your job is going to the new campus in India.

Good luck finding out where your shipment is when your entire supply-chain support team is asleep.

Also we’re going down to three geographies because apparently four geographies was simply too many geographies.

Did we mention Caitlin Clark yet?

“Removing layers.”

For anybody who has worked in corporate America, “removing layers” is not a strategy. That’s a warning.

We paid a small nation’s GDP for the German Football Federation, so now we have to make that sh-t work.

And somewhere in there was basically the realization that after backing up the Brinks truck for Germany, maybe Mbappé wasn’t in the budget anymore.

Notice what none of the analysts asked:

“So exactly how many people are getting laid off?”

Tells you everything you need to know about who the earnings call is actually for.

Overall guidance:

More pain before the gain.

Maybe FY28.

Maybe FY29.

Maybe FYNever.

But don’t worry.

PACE.

Caitlin Clark has a new shoe.

Shai has a new shoe.

Air Force 1s are back.

See y’all next quarter.

The sneaker giant also announced a restructuring plan to “position Nike for long-term growth.”

• More Layoffs!! Wow.

I am fool for waiting for them come out with positive and real world answers

I am a fool

Team,
Today we're announcing changes to Nike's operating model that will help us accelerate and scale the Sport Offense and position Nike for long-term growth. 
The future will belong to companies that can move faster, serve athletes and consumers more locally, and invest more aggressively in innovation. To do that, Nike must make changes to become a more agile, efficient and athlete-focused company. 
This work will result in fewer roles across Nike, and I want to acknowledge that news like this creates uncertainty. I don't take that lightly. Throughout this process, we will communicate directly, act with transparency and treat people with respect. Decisions about impacted roles related to this work will begin in calendar year 2027 and beyond. 
For most teammates, the work immediately in front of you remains the same. We have shared some financial information, but these numbers are estimates and could materially change. Anything you may see in media reports around impacts is speculative because we do not yet know the number of roles or specific locations of positions. 
I want to further explain the changes we’re making and what we’re building to drive sustainable, profitable growth. I also encourage you to listen to our Q1 earnings call to understand more. 
Building Nike for the Future 
Over the past year, we've put sport at the center of everything we do. We're seeing encouraging signs of progress, but we have more work to do to win over the long term. We must get closer to athletes and consumers, make decisions faster, and focus our investments on the areas that create the most value.  
We’re calling these efforts Pace.  
Pace 
Pace is not a new strategy, and it is not a reaction to one quarter. Pace is built around four priorities: 

• Accelerating our supply chain modernization efforts 
• Organizing into three geographies  
• Establishing a new campus in India 
• Changing our work and workforce 
  Together, these shifts will create a company with global scale, local speed and the flexibility to serve athletes in a rapidly changing marketplace. 
  Supply Chain Modernization: Flexible, Responsive and Efficient 
We started this journey more than one year ago and it’s showing considerable progress.  
  Our Supply Chain and Technology teams have concrete plans underway to deliver a more responsive and flexible model through the strong partnerships they have built in the industry.  
  These changes include technology solutions and a more variable cost structure. They will improve speed, service and profitability while giving us greater flexibility to respond to consumer demand. 
  At our scale, these efforts matter. 
  Moving Closer to Athletes and Consumers: Three Geographies 
We plan to organize Nike into three geographies to bring more decisions, accountability and resources closer to the markets we serve.  
  The three geographies will be: 
• Americas, bringing together North America and Latin America 
• APGC, bringing together Asia Pacific and Greater China 
• EMEA, which will continue operating where it does today 
  As part of this change, the APGC leadership team will be based in Singapore, and some roles currently supporting the region from Beaverton will move closer to the athletes and markets they serve. We expect teams to move into this new formation in Fiscal Year 2028. 
  Bengaluru: A New Nike Campus for Future Capabilities 
We are establishing a new Nike campus in Bengaluru, India. India is already an important growth market and manufacturing hub for Nike, with strong capabilities and access to talent. The Bengaluru campus is a long-term investment in new capabilities and talent to strengthen how we serve athletes around the world, including in India. Full-time Nike teammates on this campus will support work across Nike, Jordan Brand and Converse.  
  Teammates already in India will move in phases, and the campus will grow over the next several years. 
  Evolving Our Work and Workforce 
As we change how and where we work, Nike will require fewer roles over time. 
  These decisions are about redirecting investment toward the areas most critical to winning: product innovation, brand storytelling, consumer connection, sport and growth. 
  Again, decisions about impacted roles related to this work will begin in calendar year 2027 and beyond. Teammates affected by these changes will hear directly from their leaders, with clear timelines and support as decisions are made. Where local consultation is required, we won’t finalize proposals until that process is complete.  
  Looking Ahead 
Tomorrow at our NIKE Team Meeting (NTM), we’ll spend more time walking through these changes, and we’ll continue sharing updates through our employee hub on Workvivo.  
  At our Investor Day on Nov. 16-17, we’ll share more details about Nike’s next phase of growth, the financial plan behind it, and how Pace supports our long-term competitive position. We’ll come together again as a company for our next NTM on Nov. 18 to continue the conversation about Investor Day and our strategy. 
  The work ahead is significant, but the objective is simple: Build a faster, stronger Nike that is closer to athletes, more responsive to consumers and better positioned to win. 
  Thank you for what you do for athletes and consumers, for Nike and for one another. 
  And thank you for the passion, commitment and resilience you bring to this company

https://www.sec.gov/ix?doc=/Archives/edgar/data/0001702780/000170278026000057/optu-20260916.htm

On September 16, 2026 — just two weeks ago — Optimum's Audit Committee discovered that the company had been incorrectly accounting for deferred tax benefits related to previous impairment charges on its cable franchise rights. This error, which went undetected by both management and KPMG (their auditor), caused Optimum to overstate its net losses by approximately $430 million in 2025 and $720 million across Q1 and Q2 2026 — a combined $1.15 billion accounting error across multiple reporting periods. The company filed an 8-K on September 21 disclosing that financial statements going back to late 2025 must be formally restated.

The good news — if there is any — is that the restatement doesn't change anything operationally. Revenue, cash flows, EBITDA, and capital expenditures are all unchanged. The company actually looks slightly less financially distressed on paper once the correction is made, because previously overstated losses get reduced.

The bad news is significant. The Audit Committee concluded there is a material weakness in Optimum's internal controls over financial reporting — meaning the systems designed to catch accounting errors failed. KPMG's audit opinion on those controls is now unreliable. For a company already fighting a creditor lawsuit and heading toward restructuring, a formal material weakness finding gives creditors additional ammunition and creates further uncertainty around the accuracy of all financial statements. It also means restated filings must be completed before Q3 results can be properly filed — potentially delaying the November 5 earnings date and with it the Q3 bonus payment timeline.