#layoffs

Great news to hear from HR that they’re discontinuing the pension plan for those of us who have remained loyal to the company and accelerated the growth of the stock price.

The Pittsburgh Post-Gazette officially informed Pennsylvania of its pending closure. PG Publishing Co. filed a Worker Adjustment and Retraining Notification. The newspaper will cease publication on May 3. All 171 employees will be laid off starting May 4. Block Communications cited significant financial losses and court rulings for the decision.

https://www.pennlive.com/business/2026/03/1-of-the-largest-newspapers-in-pa-informs-state-it-is-shutting-down-171-employees-to-be-laid-off.html

Perrigo plans to reduce its workforce. The pharmaceutical company expects to lay off 7% of its employees. This action aims to streamline operations and enhance effectiveness. The information comes from Perrigo's fiscal year 2025 report. Further details on affected departments were not provided.

https://wkfr.com/west-michigan-perrigo-layoffs/

Moderna reduced its workforce in 2025. Sarepta also experienced job cuts during the same year. In contrast, Insulet saw an increase in its headcount. Vertex Pharmaceuticals similarly expanded its employee base. These changes affected major Massachusetts life sciences companies.

https://www.bizjournals.com/boston/news/2026/03/04/life-sciences-workforce-2025.html

A ca--abis company is eliminating jobs. Dozens of customer service positions are affected. These layoffs are occurring at a Clearwater call center. The company is described as a ca--abis giant. This constitutes a mass layoff event.

Clearwater, Florida

https://www.bizjournals.com/tampabay/news/2026/03/04/trulieve-clearwater-call-center-layoffs.html

Stanley Black & Decker will lay off 300 employees. This action follows the permanent closure of its New Britain manufacturing facility. Layoffs will occur in five waves, starting in May 2026. Most workers, 287, will be terminated between May 4 and May 18. The company cited a decline in demand for single-sided tape measures.

https://patch.com/connecticut/across-ct/stanley-black-decker-layoff-300-employees-timeline-issued-amid-impending

Ssense reported 215 layoffs last month to the Quebec government. This brings the total to 307 layoffs over the past year. The luxury online retailer filed for bankruptcy protection in August. Founders recently received court approval to buy back the company. Lenders opposed the buyout, favoring liquidation for debt recovery.

Montreal, Quebec

https://montrealgazette.com/business/local-business/ssense-reported-over-200-layoffs-last-month-to-quebec-government

Kwantlen Polytechnic University is implementing another round of layoffs this week. These cuts will impact unionized employees. The university faces a sharp decline in revenue. This is primarily due to falling international student enrollment. Previous measures included administrative cuts and a hiring freeze.

https://vancouversun.com/news/kwantlen-polytechnic-university-kpu-more-layoffs-enrolment-declines-bcgeu

Build A Rocket Boy implemented further layoffs at the company. CEO Mark Gerhard described the decision as deeply painful. He also claimed overwhelming evidence of corporate espionage and sabotage. The studio previously launched the action-adventure game MindsEye. MindsEye received negative reviews and was the worst-reviewed game of 2025.

Scotland

https://opencritic.com/news/27446/mindseye-studio-build-a-rocket-boy-announces-more-layoffs

A South Side rail operator is closing its facility near Rickenbacker International Airport. The company, Cincinnati-based Parsec, is an intermodal railroad transportation contractor. Parsec filed a Worker Adjustment and Retraining Notification (WARN) notice. This closure will eliminate 115 jobs. The affected positions are in central Ohio.

https://www.dispatch.com/story/business/employment/2026/03/04/rail-operation-rickenbacker-close-115-layoffs-parsec/88965960007/

St. Helena Unified School District plans staff reductions. Eight roles are affected, including a high school counseling position. The district cites falling student numbers and increased expenses. Faculty members voiced strong concerns about the proposed cuts. The school board must finalize these decisions by May 15.

https://napavalleyregister.com/star/news/st-helena-high-school-layoffs-guidance-counselor/article_07d70c72-2465-40c3-9e80-cc9a709e731b.html

Seattle business leaders have issued a warning. They are concerned about artificial intelligence. Technology sector layoffs are also a factor. These elements are causing an economic shift. Local leaders are observing these developments.

https://www.fox13seattle.com/video/fmc-ct0uwlxr8z2xwzvl

Morgan Stanley will reduce its workforce by three percent. Around 2,500 staff members will be affected. The firm aims for strategic restructuring and efficiency. This follows a similar workforce reduction in March 2025. Other financial firms have also announced recent job cuts.

https://eand.co/morgan-stanley-layoffs-bank-to-cut-3-workforce-across-divisions

Sacramento City Unified is considering approximately 380 additional layoffs. These cuts primarily target non-teaching staff and central office employees. The school board will vote on the proposed layoffs at an upcoming meeting. The district faces a significant $113 million budget deficit. This follows a previous approval to eliminate over 400 positions.

https://www.abridged.org/news/sacramento-city-unified-400-more-layoffs/

major multi thousand job cuts at morgan stanley and CITI... the job market just got exponentially worse for all of us in banking...

Morgan Stanley - March 2025 Layoffs Summary (some selected post)
https://www.thelayoff.com/t/1kjyfj53s
@OP+1kjyfj53s

CITI Layoffs
https://www.thelayoff.com/t/1kjyf4pkj
@OP+1kjyf4pkj

There is no longer incentive to overachieve.
All loyalty is gone.
take care of yourself.

My mgr got axed... and now I report to an offshore manager who doesn’t really understand what I do. doesn’t even try to... most of the time it feels like she just tells other people to do the things my old manager used to handle.Since all that happened the place has gotten a lot more and more and more toxic, with more offshore managers showing up while the people who actually cared about the work keep getting laid off and everyone keeps talking about AI like that’s the answer to everything.it will never be the answer. horrible.

# Morgan Stanley Layoff Report — March 4, 2026
Source: TheLayoff.com | Thread: Morgan Stanley WM/Tech RIF
Thread ID: @OP+1kjtkpz73
Views: 8,754 | Replies: 60 | Last Activity: 8 hours ago (as of report generation)

## Executive Summary

On March 4, 2026, Morgan Stanley carried out a significant reduction in force (RIF) affecting its Wealth Management (WM) and Technology divisions globally. The Wall Street Journal pegged the cuts at approximately 2,500 employees, representing roughly 3% of the total workforce (@ez). The layoffs rolled out across time zones throughout the day, beginning in Asia and progressing through EMEA and North America. Affected employees reported being escorted out of offices, receiving garden leave notices, and in some cases discovering their severance was capped below what their tenure would suggest. No WARN Act filings were identified by thread participants ahead of the event.

## Scale & Official Confirmation

The thread was initiated by Anonymous 72 (@OP+1kjtkpz73) on March 4, who confirmed the RIF for WM was set to occur that day. The original post was made approximately one day before widespread reporting emerged.

The scale was subsequently corroborated by a user citing Wall Street Journal coverage (@ez):

"Wall Street Journal just posted a story. Said 2,500 or 3% of the workforce."

This figure places the event among Morgan Stanley's more significant recent headcount reductions. The thread notes no advance WARN Act filings were identified in the US (@eg, @dq), which generated discussion — one user speculated this may be because the majority of cuts were concentrated outside the US (@dr), which would exempt the firm from domestic filing requirements.

## Geographic Scope

Layoffs were confirmed or credibly reported across at least six cities spanning four countries, suggesting a coordinated global action rather than a regionally isolated restructuring.

### Asia (First Wave)
The thread noted that March 4 arrived in Asia first, and that the RIF had "started" there (@b6). Specific details from Asian offices were limited in the thread.

### London & EMEA (Second Wave)

• A London equities employee reported being told their position was at risk (@cw).
• Tech in London was independently confirmed as affected (@d0).
• One user reported that London had "finished" processing before the US wave began (@dn), suggesting a structured, time-zone-sequenced rollout.
• An EMEA-wide mandatory call for tech staff was reportedly called on short notice (@cp).

### Glasgow

• Affected divisions confirmed: finance, legal, and cyber security (@dd).
• Notably, one user suggested the cuts in Glasgow may have begun as early as mid-February, with several VPs disappearing around February 15 on apparent "leave" of 1.5–2 months — interpreted by the poster as quiet separations ahead of the formal RIF date (@dd).
• One IB employee in Glasgow confirmed their role was designated "at risk" and that a 30-day consultation period had commenced (@f8).

### Montreal

• Tech division confirmed affected (@ed).
• One employee reported a colleague was escorted out of the office with all her belongings (@ef).
• An Executive Director in Montreal was confirmed let go (@ey).

### New York

• WM Operations confirmed affected; at least one employee confirmed they were laid off (@dj).
• A 28+ year veteran (VP L4, tech) in NYC confirmed separation (details in Severance section below) (@dv).

### Alpharetta, GA

• Confirmed affected (@dk).

### Arlington, VA

• Multiple people escorted out of the Arlington office (@er).

## Seniority of Those Affected

Reports suggest the RIF was not limited to junior employees. Confirmed or reported senior separations include:

The presence of EDs and senior VPs in the affected pool suggests this was a performance-agnostic cost reduction exercise rather than a targeted performance-based action.

## Severance & Compensation Details

One of the most detailed firsthand accounts came from a 28+ year NYC VP (L4) in technology (@dv):

• Placed on garden leave through June 30, 2026
• Severance was described as capped, despite tenure exceeding the cap threshold
• The poster noted "there were good things there and better things ahead"

A follow-up post from another affected employee (@dx) added:

• Received 3 weeks of severance per year of service, but capped at 15 years despite 20 years of actual tenure

This cap drew scrutiny. Anonymous 72 (@e4) noted the cap represents a specific dollar ceiling tied to officer title, and that it may be legally challengeable since the cap threshold is never disclosed to employees prior to a RIF.

A separate user confirmed there is an internal HR website listing the dollar caps by title (VP/ED/MD) (@e7), though the URL was not publicly shared in the thread.

## Process & Transparency Concerns

Several users raised concerns about how the RIF was handled procedurally:

• No WARN Act notices identified for the US as of the time of posting (@eg, @dq). One user noted this may be because the cuts were primarily non-US in focus (@dr), which would exempt the firm from the 60-day advance notice requirement under the federal WARN Act.
• No advance media coverage — multiple users expressed surprise that a reduction of this scale had not appeared in the press beforehand (@b5, @dq).
• One user speculated the March 4 date may not represent the end of reductions, suggesting a rolling layoff model in which additional divisions (e.g., Banking, non-tech WM) could follow in subsequent weeks (@ds).
• The Glasgow situation (@dd) raises the possibility that some separations were being quietly processed weeks before the official RIF date, which would be consistent with a rolling or pre-staged reduction strategy.

## Division Breakdown

Based on thread reports, the following divisions were mentioned as affected:

## Notable Contested Claims

Two posts (@e9, @ej) made claims alleging that layoffs disproportionately targeted white employees and attributed this to managerial bias. These posts received heavily split reactions (roughly equal upvotes and downvotes) and generated significant sub-thread debate. They are noted here for completeness but:

1. Are not independently verifiable from thread content
2. Represent individual perceptions, not documented patterns
3. Should not be treated as factual reporting absent external corroboration

## Key Open Questions (As of Report Date)

• Will additional RIF waves affect Banking and non-tech WM, as speculated in @ds?
• Are severance caps legally defensible given the non-disclosure issue raised in @e4?
• Did Glasgow separations beginning ~February 15 (@dd) constitute a pre-staged RIF, and does this affect WARN Act or UK employment law compliance?
• What is the total headcount impact in each geographic region?

• Report compiled from user posts on TheLayoff.com thread @OP+1kjtkpz73. All information is sourced from anonymous employee accounts.

https://x.com/TheLayoff/status/2029461591302058183

Grok Summary:

• The post signals renewed layoff activity at Citigroup based on user reports and traffic surges on TheLayoff.com, aligning with the bank's multi-year plan to cut 20,000 jobs by end-2026 through restructuring and cost efficiencies.

• January 2026 saw 1,000 roles eliminated, with March targeting managing directors and senior staff in areas like KYC and AML, as confirmed by Reuters and Bloomberg reports, amid AI automation and offshoring to sites like Costa Rica.

• Employee discussions highlight risks for transformation and consent order roles, including 141 New Jersey positions via WARN notices for May-June separations, reflecting broader banking sector pressures on non-core functions.

• Key details on KYC-related layoffs in 2026 include:*

• Onshore KYC impacts in Florida: Recent reports indicate layoffs in KYC teams (including KYC Cards) in Miami, Fort Lauderdale, and Tampa. The work is reportedly being offshored to Costa Rica, with users noting struggles in handling cases post-transition due to cost-cutting priorities.

• KYC Small Business in San Antonio: An entire department (around 35 people) was reportedly laid off following a department-wide meeting (noted around a 10 AM Central time slot with a C14-level executive).

• Broader compliance/AML ties: Discussions mention AML (Anti-Money Laundering) impacts in locations like Tampa, often bundled with KYC under compliance/transformation efforts. Earlier threads queried whether KYC/AML teams (e.g., in Charlotte, NC) would be hit in March or June waves.

• Related WARN filings: Citigroup filed WARN notices in New Jersey affecting 141 employees, with separations scheduled between May 21 and June 14, 2026 (statewide, including Jersey City). These are part of the ongoing restructuring but not explicitly tied to KYC in public filings - though compliance roles often fall under such cuts.

Some folks I know left stable jobs to come here, thought they were moving up. Less than a year later, laid off. Probably just layoff fodder to even out the demographics. This place ruins lives.

The company's entire focus is reducing costs. That means nobody is secure, no matter what you might think or what your manager might have told you.. If you're thinking of relocating or making long-term plans, think again. This isn't a place with a future.

Quick question for anyone in New Jersey who was part of the Feb. 20 layoff wave.
Did you only receive half of your severance so far? If yes, have you heard anything about when the second half is supposed to hit?
Also, any word on the RSU payout timeline? Haven’t seen any updates yet.
Appreciate any info, trying to figure out what to expect. Thanks.

Today, big layoffs were announced at Citibank & Morgan Stanley. USAA.....

That would be the only good thing about it.

Hearing noise about VPs across the company being let go

Truly sorry to everyone who's already been hit.

This won't end well. You can only squeeze so much blood from layoffs before the whole thing collapses.

I was one of the recent folks who got laid off. My “redeployment partner” was worthless. I would email the jobs I applied for and either I’d get a response days later or no response at all. Has anyone had a similar experience?

If so, I feel like this area could have jobs eliminated and keep others employed who are beneficial.

so you can spend more time strategically homeless.

I left BNY and every day I'm thankful. What you all are going through to this day sounds awful. I hope you all find something better soon. You deserve it.

Is all the layoff focused at Tampa and Texas?

How about other locations, Manila, India, Warsaw, Belfast, Dublin or UK or Costa Rica etc etc.

UK is facing three waves of redundancy, affecting roles across all departments with a focus on tech. Termination dates set to April, July, and November. At least 150+ roles to be eliminated in UK.

https://www.dispatch.com/story/business/employment/2026/03/04/rail-operation-rickenbacker-close-115-layoffs-parsec/88965960007/

Layoffs have been deferred for now. I'm sure they'll be back on if the county doesn't figure out how to fix this, but any hope right now is a good thing.

Layoffs happening every two weeks, but new job postings keep going up nonstop. Can anyone explain this to me like I'm five? Because I'm lost.

Just because cuts stopped for a bit doesn't mean they won't start again. Keep looking now while you have leverage. Future you will thank you.

Anyone know if AML was affected?

Dont let anyone help you or steal your work; you might be next. Hide, squirrel those files away! Yes mangers are doing this too.

Heard Technical Program/Product Management Org is going to be heavily impacted this time. Is this true? Any insights?