#layoffs

I want to start off saying that the TIAA associates and people I've worked with are great but the silos and Management are running the firm and the associates into the ground which only hurts participants.

Having worked here for a long time until being forced to leave due to Denver closing (not offered relocation) I am astonished how far in the Stone Age TIAA is.

Every business being its own silo prevents learning and keep employees held back when they are trying to find a role outside the firm. It’s easy to believe I had several roles in different areas at TIAA. They teach you just enough to keep you here until a point they don’t need you anymore. Which makes sense why I couldn’t get a job offer elsewhere until being let go having to re-learn same practices and new things not taught due to silos and getting rid of bad habits taught at TIAA.

I couldn’t be happier where I am but am sad that this company is an even bigger dumpster fire after leaving than it was my last few years there.

FYI - not to cause alarm but it is happening right now, as you read this. Confirmed.

At least that’s how it looks. Any org that’s been spared?

I've already heard about SEC, Converse, Distribution Centers.

I'm hoping to get a big buyout, what's taking this new CEO so long to do something?

ASML revealed plans to eliminate about 1,700 management positions, representing around 4% of its global staff. The cuts focus largely on technical and IT teams, and weeks after the announcement, employees are still waiting for clarity.

https://www.tomshardware.com/tech-industry/asml-workers-still-in-the-dark-seven-weeks-after-1700-management-cuts-announced

https://www.businessday.co.za/world/international-companies/2026-03-16-corporate-america-continues-job-cuts-in-2026-in-efficiency-push/

Any Princeton NJ personnel affected recently but layoffs?

First Brands Group will close its Cleveland corporate office. This closure will result in 110 job terminations. Most layoffs, affecting 105 employees, are scheduled for April 30, 2026. An additional five employees will be laid off on June 30, 2026. The company cited Chapter 11 bankruptcy proceedings and financial distress as reasons. Efforts to secure funding or a sale were unsuccessful.

https://countryherald.com/news/cleveland-ohio-110-layoffs-as-first-brands-closes-public-square-hq-in-april/

What is happening tomorrow?

Rutgers-New Brunswick terminated 37 part-time lecturers this month. These lecturers taught approximately 100 classes in the School of Arts and Sciences. The university cited reasons such as lack of funding or no continuing need for the positions. Faculty unions called the layoffs "absurd." They claim the budget shortfall is fictional.

New Brunswick, New Jersey

https://www.northjersey.com/story/news/education/2026/03/15/rutgers-lecturers-say-absurd-layoffs-dont-justify-savings/89139843007/

They gutting Poly persoanl world wide hiring cheaper hires.

Dutch semiconductor equipment maker ASML announced layoff plans. The company intended to cut 1,700 management positions. This reduction impacts about 4% of its global workforce. Technical and IT departments were the primary targets. Seven weeks later, the process for affected employees remains unresolved.

https://www.digitimes.com/news/a20260316PD235/asml-dutch-layoffs-equipment-2026.html

Warner Bros Montreal has experienced an unknown number of layoffs. This occurred amidst the acquisition of Warner Bros by Paramount Skydance. Employees shared news of their cuts on LinkedIn. The layoffs affected various departments, including producers and designers. Cost-cutting efforts are common during major company acquisitions.

https://wccftech.com/warner-bros-montreal-hit-with-unknown-number-of-layoffs-amidst-paramount-acquisition/

At least 30 people, up to the director level. Not a big number but converse doesn’t have any people anyway.

The return to work for laid-off Ultium Cells employees may be delayed. A union representative stated this information. Hundreds of hourly workers were laid off in January. Their scheduled return was within the first two weeks of June. Low electric vehicle demand could extend their layoff period.

Lordstown

https://www.wfmj.com/story/53480548/laidoff-ultium-cells-workers-return-to-work-could-be-delayed-due-to-low-demand?clienttype=mobile

U.S. employers announced a significant increase in layoffs recently. This trend highlights the importance of financial preparedness for workers. Experts recommend creating an emergency budget and building savings. Negotiating severance packages and understanding tax implications is also crucial. Workers should prioritize emergency funds over credit cards or retirement withdrawals.

https://www.cnbc.com/select/4-resources-to-help-you-feel-financially-prepared-for-layoffs/

Job openings increased to 6.9 million in January. This marks an increase from 6.6 million in December. Layoffs also decreased, reaching 1%, a year-and-a-half low. However, the hiring rate remained flat at 3.3%. Overall, the January data indicates a relatively stable labor market with tentative improvements.

https://kpmg.com/us/en/articles/2026/january-2026-jolts-national.html

New Jersey employers announced nearly 4,000 job cuts in the first two months of 2026. Amazon alone expects to cut over 800 jobs across several New Jersey counties. JPMorgan Chase and Citibank also filed notices impacting hundreds of banking positions. Bristol Myers Squibb and health insurers like Blue Cross Blue Shield will also reduce staff. An economics professor views these figures as small relative to the state's overall economy.

https://www.nj.com/news/2026/03/as-thousands-face-layoffs-in-nj-these-are-the-jobs-that-are-going-away.html

Dow? Up. Nasdaq? Up. S&P? Up. Xrx? DOWN 6%... Xerox word salad no longer served with, "headwinds."

https://www.businessinsider.com/tech-jobs-getting-demolished-great-recession-dot-com-era-2026-3

Tech job market implosion has begun, and even before massive layoffs at Oracle and Meta.

Apollo (APO) & their insurance subsidiary Athene are big private credit players that are under liquidity pressure due to a market perception of increased credit risk resulting in a sharp decline in APO share price. This is important because AT&T off loaded some of their pension liabilities to Athene.

You could be at risk-PAY ATTENTION!!

Under the group annuity contracts, Athene made an irrevocable commitment and became solely responsible for paying the pension benefits of each transferred participant beginning with their August 2023 pension payments. The transaction did not change the amount of pension benefits payable.

The transaction covered approximately 96,000 AT&T participants and beneficiaries, and was funded directly by assets of the pension trust — requiring no cash or asset contributions by AT&T.

All European companies hire McKinsey to understand how they can run their business better. But McKinsey is not working for the benefit of these companies or Europe. McKinsey is working for the benefit of billionaires in the US.

Recently McKinsey asked Volkswagen to close 8 of their 10 German factories and lay off almost everyone.
https://www.spiegel.de/wirtschaft/unternehmen/volkswagen-mckinsey-soll-angeblich-schliessung-fast-aller-deutschen-werke-empfehlen-a-89c85f97-0964-40b0-ad5f-7163ea7c1925

McKinsey is also the reason why the executive board want to fire SAP employees. This entire narrative that SAP should fire almost everyone and replace them with AI comes from US billionaires through McKinsey.

My hot take is that SAP should fire McKinsey. It will save millions that we give them each year. And SAP should focus on innovation instead of using stupid US marketing and laying off employees and making customers angry. Christian Klein is only doing all this because he plans to join the McKinsey Germany board after he leaves SAP. And that's wrong.

Rewards are NOT learning experiences and more work... "Rewards" are actually paying employees and giving cost of living increases.

Calling it now, the ONLY people getting these "merit" increases will be leadership and sales peeps. Meanwhile the rest of us will stay stagnant and take on second and third jobs while we try and hunt for a new career in this dumpster fire of a job market.

Anyone else see the stocks that all the execs got? It's crazy that they are laying people off in different BUs, changing the variable comp goal posts, and bringing in McKenzie over and over and they still get that bonus. Are we all just happy with a job and .9 VC instead of demanding better? Feels like they are asking for unions with this BS.

At the last town hall they said layoffs were done and we had the right people in the right places. But more people were rif'd last week. Not sure what to believe.

Can anyone confirm/deny if there will be layoffs at the corporate HQ’s this upcoming month?

:(

Working in tech is such a reliable way to plan to raise a family, with long-term employment stability.

https://www.reuters.com/business/world-at-work/meta-planning-sweeping-layoffs-ai-costs-mount-2026-03-14/

NEW YORK/SAN FRANCISCO, March 13 (Reuters) - Meta (META.O), opens new tab is planning sweeping layoffs that could affect 20% or more of the company, three sources familiar with the matter told Reuters, as ‌Meta seeks to offset costly artificial intelligence infrastructure bets and prepare for greater efficiency brought about by AI-assisted workers.

Whether it’s true or not that the company must slash 50% of the workforce to survive, the number of employees has always boggled my mind. Where are all these people working, what groups, regions? Now we are 2x after the Lex acquisition, and it is even more of a mystery. Who has insight?

Is it true that the bank won't allow for a manager to write a recommendation for a former employee?
In my particular situation, I used the LinkedIn recommendation tool and requested one and that was the response I received.

I tried this because a former coworker of mine mentioned they asked for one and they had no problem in getting one. So I thought, well why not? Even my manager said to me when we said goodbye, that if I needed anything at all please reach out.
What else could they do to help besides give a recommendation etc.?

I almost feel they could if they wanted too they would, but for some reason, albeit a personal reason (though they would never admit) is causing them not too.

It hurts so bad to be told and thrown out of a job from someone you really went out of your way to assist on many occasions and gave praise and encouragement and built a meaningful relationship with business wise.

The fact because you're not able to travel the 3 days a week because you can't afford to get there was the only reason you didn't stay.

Its alarming when they stop speaking to you and delete you off all social media for no reason. Wont respond to you no matter what when attempting contact to see how they are doing.
You feel it's because of that (leaving on good terms, told to stay in contact, so what else could it be)?

I can speak for many I believe that a fully remote no questions asked option when we all came back from covid should have been a reality. This whole location strategy and layoff fiasco could all have been avoided had this happened:

For example **

option A: Full-time remote. There will always be enough people to fill the offices so I don't know why there is/was such heavy handed approach towards that.

Or option B Full office: Everything as usual for whoever wanted to go in.

Those are the only options that should have been presented after coming back. The choice should have been simple and permanent, everyone would have been happy and life could have continued on as intended. I'd still be working there, if they weren't so strict on wfh.

If an entire online retail sector is bleeding money and racking up consistent losses, why are we still pouring resources into it? Why can’t we let those employees go or redeploy that talent pool into areas where we actually make money?
Our prices are noticeably higher than the competition’s, and we’re a pharmacy company at heart. So why does anyone seriously believe we can go head-to-head with retail giants and win customers?

What are people expecting to happen in the coming months. With new CEO and next earnings call do you think there will be layoffs and changes.

Why hasn't the media said anything about the never ending layoffs? Why hasn't anyone spoken to the media?

Does a HR goon inform you, in-person or through email or zoom? If I get a layoff notice. I'm going to stop logging on to my laptop and waste my time reading or responding to emails.

:(

At this point I've heard fifty different versions about what's coming.

A lot of rumors have been flying around the office lately, though nothing sounds substantiated. I just can't figure out why layoffs talk suddenly picked up. If anyone knows anything, please share.