#workforcereduction

Robin, things are beginning to heat up. The current trajectory of BNY’s aggressive US workforce reduction—driven by domestic layoffs, intensive offshoring, and a reliance on lower-cost global labor arbitrage—has officially breached critical thresholds for organizational safety.

The regulatory landscape has completely shifted. Vice President JD Vance’s newly announced federal crackdown on visa fraud and outsourcing abuse—which has already targeted major corporate entities and suspended IT offshoring giants from labor programs—means your strategy of substituting American workers is now directly in the crosshairs of federal inspectors. Visa fraud is a severe federal offense, and you will be the one in the hot seat when the government comes knocking.

https://apnews.com/article/h1b-visa-program-vance-microsoft-e7b3a407f822702b269ee277d21343ea

Volvo Cars is implementing significant job cuts, eliminating 2,500 positions worldwide to address mounting financial pressures. The automaker is also targeting substantial savings from indirect and variable costs by the end of 2027. These measures come as the company faces weaker demand, increased competition, and a substantial third-quarter loss. Revenue in China has also seen a sharp decline, contributing to the company's financial challenges. This follows a previous round of job reductions announced in 2025.

https://www.storyboard18.com/brand-marketing/volvo-cars-layoffs-automaker-to-cut-2500-jobs-worldwide-113237.htm

I heard through the grapevine there is going to be a pretty big shakeup mostly impacting CSMs for 2027. Does anyone have any information on this? Athena just invested so much on bulk hiring CSMs for their swing inaitivie.

Commercial Mortgage Alert reports that W&D has implemented workforce reductions. The article details recent personnel changes within the commercial real estate sector. It mentions Berkadia appointing a new multifamily bond trader. Other industry professionals are also noted to be changing roles. This news comes from Commercial Mortgage Alert's weekly roundup.

https://greenstreetnews.com/article/the-grapevine-layoffs-hit-wd-berkadia-names-multifamily-bond-trader-more/

TikTok significantly increased its Bellevue workforce to 2,200 employees in 2025, a 30% rise from the previous year. This growth occurred despite two rounds of layoffs impacting approximately 140 local employees, primarily from the TikTok Shop division. The company has also consolidated its office space, moving into Lincoln Square North while reducing its footprint at Key Center. This expansion solidifies TikTok as a major employer in downtown Bellevue, even as other tech companies in the area have announced job reductions. The company continues to post numerous open positions, suggesting further growth in its Bellevue operations.

Bellevue, Washington

https://downtownbellevue.com/2026/10/22/tiktok-bellevue-workforce-2200-employees/

The food and beverage industry experienced a significant increase in layoffs during 2026. Nearly 30,000 jobs were eliminated by September, representing a 76% rise compared to the previous year. This surge is attributed to declining consumer spending and evolving eating habits. Major companies like Tyson Foods, Nestlé, Guinness, and PepsiCo have announced facility closures and workforce reductions. These actions are often cited as necessary steps to streamline operations and focus on growth areas.

https://www.fooddive.com/news/food-beverage-industry-layoffs-closures-increase/833710/

https://www.inquirer.com/business/comcast-reorganization-workforce-costs-layoffs-20261022.html

I was laid off today. I don't know how many other people were "selected" for this layoff (I know of at least two others but not sure what locations and groups are impacted)

Several biotechnology companies have recently announced substantial layoffs as part of strategic realignments and cost-saving measures. Enlivex is cutting 60% of its staff, while EyePoint is halving its workforce. Caribou Biosciences is halting pipeline development and laying off employees to seek strategic alternatives. Adecto Pharmaceuticals is shutting down operations entirely due to funding challenges. Foghorn Therapeutics is also reducing its workforce by 40% following a failed collaboration.

https://www.fiercebiotech.com/biotech/fierce-biotech-layoff-tracker-2026

As a former IBM employee and now an employee of Kyndryl, I must admit that I feel deeply disappointed by the way the company is being managed in Italy.

While acknowledging the challenges posed by the current economic climate and the separation from IBM, which left Kyndryl operating without its own software and hardware portfolio, I believe that more could have been done to address the company's structural and organizational issues.

The average age of the workforce is very high, yet little seems to be done to address this issue constructively. Instead, the approach appears to be one of separating younger and older employees into two different legal entities, without providing genuine opportunities for professional development or clear career paths in emerging business areas.

The recent announcement of 87 redundancies is particularly concerning. Alternative social security and employment support measures, such as CIGO (ordinary wage supplementation), could have been considered. Rather than applying a scheme limited to one day per month, as was done two years ago, a more substantial arrangement—perhaps one month of reduced working activity every other month—could have provided greater protection for employees.

Despite the company's repeated statements that its people are its most valuable asset, the evidence seems to suggest otherwise.

IBM, although not always acting perfectly, has pursued more effective approaches to workforce restructuring and the management of employment-related issues.

When there is a will, resources and opportunities can still be found. The company convention held in Rhodes, Greece, in September is one example: when something is considered a priority, the necessary means always seem to be available.

This raises a legitimate question: why does the same commitment not appear to be shown when it comes to protecting employees, investing in professional development, and building a sustainable future for Kyndryl Italy?

80 people were laid off this week

In addition, 500 roles were moved to Labcorp in a prenatal acquisition, though who knows how many of those Labcorp actually intends to keep.

Net/net, this 580 represents close to 25% of Myriad's total workforce

Automattic, the company behind WordPress.com and Tumblr, has commenced layoffs across several departments. These cuts follow a recent period of significant board upheaval and executive departures. The affected teams include communications, social media, WordPress.com, and the VIP enterprise business. Insiders anticipate further reductions in the coming months. The company stated these changes are staggered to provide generous severance packages.

San Francisco, California

https://techcrunch.com/2026/10/21/automattic-begins-layoffs-following-board-upheaval-and-executive-departures/

Parks Canada is initiating a second phase of workforce adjustment, impacting nearly 3,000 employees. This move is part of a broader strategy to achieve budget reduction targets through organizational transformation. The agency is sending out "affected" letters to notify staff whose positions may no longer be required. This process aims to facilitate voluntary departures and reshape the organization for greater efficiency. The agency has also implemented hiring freezes and approved early retirement requests.

Ottawa, Ontario

https://ottawacitizen.com/public-service/parks-canada-layoffs-workforce-adjustment

https://www.reuters.com/business/world-at-work/comcast-planning-significant-jobs-cuts-bloomberg-news-reports-2026-10-21/

Oct 21 (Reuters) - Comcast Corp (CMCSA.O), opens new tab is ​planning a significant number of ‌job cuts as part of a restructuring of its cable-TV, broadband and ​wireless businesses, Bloomberg News reported ​on Wednesday, citing people familiar with ⁠the plan.
The cuts, aimed at ​creating a nimble workforce and ​freeing up cash for investments, could start being announced in a matter of weeks, ​the report said, without revealing ​how many jobs were at stake
Comcast did ‌not ⁠immediately respond to a Reuters request for comment outside regular business hours
The report comes months after ​Comcast said ​it will split ⁠into two publicly traded companies through a spinoff ​of NBCUniversal and Sky, under ​pressure ⁠from streaming rivals and industry consolidation
The company had about 179,000 employees ⁠as ​of December 31, ​2025
Reporting by Rodrigo Ramirez in Mexico City; Editing ​by Diti Pujara and Subhranshu Sahu

Xbox CEO Asha Sharma is implementing additional rounds of layoffs despite having already dismissed over 1800 developers. These upcoming workforce reductions are scheduled for later this month, followed by two more in November and January. The company aims to streamline its operations and achieve profitability targets by FY27. This restructuring risks the loss of significant institutional knowledge within the gaming division. Despite criticism, positive sentiment towards the Xbox brand has reportedly increased under Sharma's leadership.

Redmond, Washington

https://tech4gamers.com/asha-sharma-layoffs-xbox/

Polyethics Industries has temporarily laid off 118 employees in Orillia, Ontario, due to financial pressures. These challenges stem from U.S. tariffs, lost business, and difficulties securing financing. The company states that recalling these workers is a priority. However, no confirmed return-to-work date has been announced for the affected staff. More than 200 employees remain employed at the Orillia facilities.

Orillia, Ontario

https://stlawyers.ca/blog-news/polyethics-industries-layoffs/

Vale Base Metals has confirmed organizational changes resulting in job cuts at its Sudbury operations. These reductions primarily impacted management and non-unionized positions. The company stated the changes were to align its workforce with operational needs. While approximately 100 positions are reported to be affected, Vale has not officially disclosed the exact number of layoffs. Unionized workers were not impacted by these recent cuts.

Sudbury, Ontario

https://stlawyers.ca/blog-news/vale-job-cuts-sudbury-october-2026/

Aetos Systems is implementing job cuts at the Kennedy Space Center. This action is part of NASA's ongoing efforts to bring work in-house. The layoffs represent the latest in a series of workforce reductions on the Space Coast. These changes are directly linked to NASA's insourcing strategy. The exact number of affected employees is not specified in the provided text.

Cape Canaveral, Florida

https://www.bizjournals.com/orlando/news/2026/10/20/nasa-aetos-contractor-employee-layoffs-space-coast.html

Several manufacturing companies are implementing significant workforce reductions across various sectors. Maynard Steel is laying off 77 employees due to an unsuccessful sale. Maple Leaf Foods will close its Lightlife Foods plant, impacting up to 150 workers as it consolidates operations. International Motors is eliminating 1,341 jobs at its Ohio plant following a facility sale. ZF Active Safety & Electronics US LLC is also reducing its workforce by 133 employees in Indiana. Dakkota Integrated Systems LLC will close a Michigan facility, resulting in 67 job losses.

https://www.plantservices.com/industry-news/news/55413181/factory-fallout-manufacturing-layoffs-from-maynard-steel-international-motors-and-more

E-commerce giant Amazon is planning to hire over 300,000 US workers for the upcoming holiday season. This significant hiring push contrasts with ongoing corporate job cuts within the company. The seasonal positions will span full-time, part-time, and temporary roles across the United States. This expansion aims to meet increased demand during the busiest retail period of the year. The company has not specified how many temporary hires might transition to permanent roles.

Seattle, Washington

https://www.firstpost.com/tech/amazon-hiring-e-commerce-company-plans-300000-us-holiday-jobs-despite-layoffs-14054275.html

A software company has recently reduced its workforce, occurring shortly after announcing an increased focus on artificial intelligence. This move is seen as a potential real-world demonstration of AI's impact on employment. The company previously held an "AI Week" to train employees on new technologies. Last month, it also acquired another AI-focused firm to accelerate innovation. The exact number of employees affected by these layoffs has not been disclosed.

Colchester, Vermont

https://www.sevendaysvt.com/news/a-colchester-tech-firm-has-been-leaning-into-ai-on-tuesday-it-announced-layoffs/

The pharmaceutical company Pfizer is implementing layoffs at its facilities located in Rocky Mount and Sanford. These workforce reductions are part of a broader initiative by the company to cut billions of dollars in expenses. The exact number of employees affected by these layoffs has not been disclosed. This action is a significant development for the company's operational footprint in the region.

Rocky Mount, North Carolina

https://www.bizjournals.com/triangle/news/2026/10/20/pfizer-layoffs-plants-north-carolina-rocky-mount.html

About 5 just happened in Single Family. Now I’m wondering if it’s strategic to drizzle them throughout the year to keep from having one mass layoff.

Managers are being let go that work on the Resi side. People on the 7th floor being grabbed one at a time.

Sherwin-Williams has eliminated approximately 40 positions at its global headquarters. This workforce reduction is part of an ongoing operational review. The company stated the layoffs were not performance-related. Affected employees will receive support during this transition. Sherwin-Williams remains focused on long-term growth.

Cleveland, Ohio

https://www.cleveland.com/news/2026/10/sherwin-williams-cuts-about-40-positions-at-cleveland-headquarters.html

What have the severance packages been for the recent layoffs?

The film industry is currently experiencing significant layoffs and restructuring. This trend reflects a broader economic shift impacting entertainment companies. Many organizations are reevaluating their operational strategies. These changes are leading to a reduction in workforce across various sectors of the industry. The future of film production is undergoing a period of adjustment.

Los Angeles, California

https://www.cbsnews.com/losangeles/video/a-discussion-of-layoffs-and-restructuring-in-the-film-industry/

Qualcomm will implement a global reduction in workforce following its annual employee reviews. CEO Cristiano Amon communicated this decision to staff via a memo, with notifications scheduled to begin in November. The company aims to foster a stronger performance culture and address areas that have not met expectations. The exact number of affected employees was not disclosed, and the scale of the layoffs remains undetermined. These cuts are influenced by business priorities, organizational needs, and required skill sets.

https://www.reuters.com/business/qualcomm-cut-jobs-worldwide-performance-focused-layoffs-internal-memo-shows-2026-10-20/

Nearly 60 employees in Netflix's gaming division have reportedly lost their jobs. This follows a broader workforce reduction impacting approximately 6% of the company's staff. The streaming service has not officially disclosed the exact number of games employees affected. Previous actions included shuttering studios and closing acquired companies. These layoffs suggest a significant shift in Netflix's gaming strategy.

Los Gatos, California

https://mobilegamer.biz/around-60-netflix-games-staff-affected-amid-company-wide-layoffs/

In following months several legal entities (and offices) in many EU and non EU countries will be terminated, local workforce fired.
Starting with smallest ones ASAP (up to ~100 headcount).
Sales will be taken over by local partners.
Contracts (CSS, health, projects, office...) will also be terminated (with due penalties).

The 10/13 earnings call included a statement that employees in operations, customer service, technology and risk should examine closely. Scharf described AI agents capable of performing work in call centers and operations sites. His point was that a large company can deploy technology across a much wider workforce and achieve greater benefits from the same investment. This matters because Wells Fargo is already operating with substantially fewer employees.

THE WORKFORCE CONTEXT

September 2025: 210,821 employees

September 2026: 194,369 employees

That's 16,452 fewer employees over one year, approximately 7.8%.

And Wells Fargo's headcount has declined for 24 consecutive quarters, according to management's six-year statement.

WHICH FUNCTIONS DID MANAGEMENT DISCUSS?

The October earnings call described AI applications across several areas:

1. Software development: Faster coding and autonomous agents where appropriate.

2. Customer service: Automation of common banking activities.

3. Operations: AI agents capable of performing work within operations sites.

4. Cybersecurity: Identifying vulnerabilities and accelerating code development and testing.

5. Risk management: Simplifying existing processes.

6. Underwriting and complaints: Accelerating response times and routine workflows.

7. Financial-advisor support: AI tools that reduce routine administrative work and improve information access.

These are applications management discussed. They are not a confirmed list of departments scheduled for layoffs.

HERE'S THE REAL QUESTION

If AI reduces the time required for routine tasks, what happens to the employees who previously performed them?

There are several possibilities.

The bank could redeploy employees into higher-value work.

It could increase output targets while maintaining existing staffing.

Or it could allow departures to go unfilled as automation takes over portions of the workflow.

All three are possible. Actual decisions depend on the business.

THE CFO'S MESSAGE MAKES THIS MORE IMPORTANT

Discussing 2027 expense planning, Mike Santomassimo said:

"we expect every part of the company to drive meaningful efficiency."

He also explained that next year's expenses would reflect continued efficiency work, investment needs and salary inflation.

Questions:

Ops: Are AI tools reducing staff requirements or simply increasing transaction targets?

CS: Are service expectations changing as more routine customer tasks are automated?

Tech: Are faster coding tools being used to justify larger delivery commitments?

Risk: Are manual reviews disappearing, or are employees still responsible for checking automated output?

Nobody can confirm individual layoff decisions from an earnings call.

But when management identifies specific work AI can perform and simultaneously expects companywide efficiency, employees should be asking where the staffing assumptions are changing.

Sources:

October 13, 2026 earnings call:
https://www.benzinga.com/news/26/10/62329932/full-transcript-wells-fargo-q3-2026-earnings-call

Wells Fargo Q3 workforce and AI analysis:
https://www.grindhotline.com/wells-fargo-2027-job-risk-q3-2026-headcount-ai.html

Any truth to the rumours that anyone still using one of those lame red chair photos as a profile pic is in line to be riffed for not keeping up with the times and not reading the room? Maybe it’s just wishful thinking on my part…

Any news on that front?

It feels like every day somebody else quits.

Is there an end in sight?

We've lost too many people and they're still trying to figure out how to make everything work with what we have left. This is just my opinion, but it'll take at least a few months before they hit us again.

Anyone hearing about layoffs in Feb?