#layoffs

So far at least 7 people I know in one subgroup that rolls up to the marketing division. All individual contributors. No idea if they were paid out according to the standard severance agreement. Job elimination was given as the reason.

What have you heard?

on the ask me anything session. Here's a summary:
"blah blah, strategic blah blah excited, blah blah Ai, blah blah blah No Layoffs"

So hard to believe any of this, the actions of the past years do nothing to support them. The leaders are powerless, only Christian, Dominik and S/O have the power and make the cuts.

I was laid off back in January. Last year, I got my bonus check around the 3rd week of March. Is that a reasonable expectation after getting laid off?

Some groups in risk, 20%

I think these are the layoffs promised in Feb that never came.

If you havent beem notified you are safe... for 2 weeks anyway.

BOA is known to layoff hardworkers more than those who don't do their fair share of work. I have been with this bank for 28yrs and witnessed so many good workers who always did what was expected of them within their role and more. While the slackers tend to remain left behind. This has resulted in questioning why should those who are always willing to do more than what they are expected continue to do so and let those responsible for doing certain tasks do their damn jobs.

How many of you have a manager that is always meddling into other teams responsibilities and expect their own to do other teama work oppose to reaching out to those teams to do their jobs? I'm so fed up because I see a few managers that I interact with do that and to me that is crossing boundaries and disrespectful to other managers.

At the end of the day those leaders meddling tend to be the ones to get let go from what I have seen in the past.

In November of 2021, nike stock traded at nearly $170 per share. Five years later and the stock is trading consistently sideways in the low $60’s, with no end in sight. Despite leadership purchases, leadership changes, constant layoffs, reorg’s, buy backs and a retail / wholesale reset, nike is one of the worst performing stocks out there. Today it’s trading at $59 and may go lower. A nearly %280 drop in valuation. Unbelievable.

No context, just stuff hitting the you know what.

Dan said layoffs will not be incremental meaning the 20% reduction was a one time only. This is a black swan event that doesn’t occur frequently. Just relax most of you will be fine!!!

Any other specific groups yet?

Memory shortages are going to whack margins and the only lever that can be pulled to maintain stock price is expense reduction aka layoffs.

This company has no ability to sell software without hardware and no ability to hedge across non storage products.

Before someone says what about cloud ..... Azure and the others, will also be hit with the shortages.

NetApp is like a small mom and pop hardware store which is being destroyed by Home Depot.

Leave now before the out of business sign is on the door.

Anyone know their salary, bonus, promote or layoff already?

Was he not the CFO the past few years? And greenlit HIH?

I've heard that layoffs may start soon, especially with anyone on bench for more than two weeks. What are people seeing and hearing?

Heard through the grapevine people in HR have said that they expected more attrition after the 5 day RTO was announced. So from this you could infer that a major goal, if not THE goal of this was to reduce headcount. Also this means that layoffs are coming since not enough people left.

The next piece of this is that the execs have admitted that the company is becoming too reliant on contractors, and want to balance out the hiring with more full time employees. What is not mentioned is that they want to flip contractors to FTEs. Offshore hubs are being built to facilitate this along with abusing work visas.

There has also been a major push for AI recently. Which helps reduce headcount even further. Models are now reaching the point where anyone can automate tasks or have someone vibe-code a solution that is "good enough".

The end goal of this is that they want cheap offshore labor to handle AI to push out stuff that is passable. So many current FTEs are going to be displaced. This is also the end goal of an overwhelming majority of other large companies. This is not systematically sustainable. And the working class is being set up for a world of hurt.

I don’t remember exactly where, but I saw a comment about Citi being a toxic place to work, followed by a request for clarification. I don't recall the OP ever following up, but as a software engineer who’s been at Citi for some time now, I have my own thoughts. Maybe it’s just my specific bubble in CISO, but here’s my take:

1. Non-existent inter-team communication. It’s like a collection of medieval castles: no one talks to anyone on the outside unless you hold a certain title. God forbid you’re a peasant. The Indian hierarchy and culture only aggravate this further; if you want anything done or even answered, you're forced to escalate immediately.

2. Terrible product quality. I honestly don’t understand how people with such abysmal coding, problem-solving, and process-building skills get hired anywhere, let alone at a bank.

3. Leadership with a heavy stench of narcissism. Don’t even get me started on Tim Ryan. He’s single-handedly decided that along with his title, he inherited a flock. Now every Thursday, he delivers a sermon on how to live, think, and behave --- even dictating which tools to use for work he doesn't understand in the slightest. Oh yeah, I sh-t you not, he also travels worldwide to Citi branches with his "Roadshow."

If you’ve been laid off, it’s a blow, but please understand: in the long term, you are better off. It’s a toxic, ugly environment for any software person. Your skills won't just stall there --- they will die. And they'll do so quickly.

I'm in a location with RTO mandated Tues-Thu. I'm complying when I can, but I need to maximize my productive work time to control the impact this place has on my life. That means sometimes I work from home and I appear on the list for non-compliance with RTO. Could they use that to deny my severance if I'm laid off? I don't trust this organization.

Does anyone know what happened to some of the C15s in Internal Audit. I just searched some C15s that I knew in Internal Audit and all their direct reports are there in global directory but they now C14 report to C16….Did the layoffs impact Audit?

Leadership is clearly not up to the task to turn this company around. Stock got a bump but regressed, NA volumes aren't working even with PPA investment and acquisitions, and we're getting the shaft with low team score and merit raises. At what point do we collectively say we aren't going to work to execute shoddy decisions that cost us money?

LOB and what you can share.

LAYOFFS!!!!

Because I don’t think I ever will. But even if I do get the axe I’ve already made hundreds of thousands of dollars working here.

Verizon ain't doing any more big layoffs. They've already cut over 13,000 jobs in late 2025 to streamline ops under new CEO Dan Schulman, who's laser-focused on AI-driven efficiencies and customer experience. Financials are solid—2025 revenue hit $138.2B (up 2.5%), adjusted EPS $4.71, free cash flow $20.1B, and net unsecured debt improved to $110.1B. The Frontier acquisition is delivering big synergies, with over $1B in run-rate cost savings expected by 2028, plus $5B in broader OpEx cuts. Wall Street's rotating into slow, pale &stale, boring utility-like stocks like telecom—VZ is up strong in 2026 while tech lags. No need for further cuts; it's harvest time.

March is odd timing to communicate as well.

Can anyone who's been let go recently ACTUALLY CONFIRM the severance package given and your job designation? A3 A4 D2 D4 ETC?

I'm not asking what you think, what you've heard or what the documents in SharePoint say, is there someone with a real world experience that can definitively say what their experience was and if its a lump sum or ongoing payments until it runs out

1 supervisor in WNY blue card claims, 1 in b&e and 2 OCs who supportedh Buffalo claims. We were told at 3pm and were blindsided. Not sure if anyone else was let go. They are ruthless

Wells Fargo is struggling after laying off 5,600 workers — and paying millions in severance - Market Realist https://share.google/6Ie7MrFCLAJ55vvL4

No customer yet.

Focus Services is closing its Greenville call center. This action will result in 94 layoffs. The closure is attributed to the impact of AI. Call centers are facing automation of routine tasks. This trend affects many call center operations.

https://www.bizjournals.com/triangle/news/2026/03/02/focus-services-greenville-call-center-layoffs.html

BrewDog's UK brewing operations and 11 pubs were sold for $44 million. Tilray Brands acquired these assets after BrewDog entered administration. The restructuring led to 484 job losses and 38 UK bar closures. Small investors in BrewDog's crowdfunding program will not see a return. Tilray is separately negotiating to acquire BrewDog's U.S. and Australian assets.

Columbus, Ohio

https://www.columbusnavigator.com/brewdog-ownership-changes/

Boulder City Hospital will lay off approximately 70 employees. It is also ending several services, including patient stays over 24 hours. The facility is transitioning to a rural emergency hospital designation by May 1. This restructuring is driven by financial conditions and funding changes. The new designation provides financial incentives, including a significant annual subsidy.

https://www.fox5vegas.com/2026/03/03/boulder-city-hospital-layoffs-service-cuts-coming-facility-shifts-rural-emergency-designation/

San Francisco aims to reduce $400 million in annual spending. Mayor Daniel Lurie proposes eliminating at least 500 city positions. This action addresses a significant budget deficit. City departments must submit new staffing plans by March 12. The specific departments affected by cuts are not yet clear.

https://www.kron4.com/news/bay-area/lurie-calls-for-hundreds-of-city-job-cuts-in-effort-to-close-budget-deficit/

Tomorrow is the big layoffs day. Can’t sleep.

1.  Do you feel like there aren’t better opportunities out there for you?
2.  Are you actively looking but still job hunting?
3.  Are you just going with the flow and not really thinking about it?
4.  Or do you have hope that the company will turn around?

Manufacturing PMIs in Europe start expanding and workforce is being cut - great move Wi--y...
Who could have thought that a former retiree CEO only has short term interest in the stock price/his options package and a majority external sourced execs board just bows - great vision for our 3M !

Will IT be hit again in this next round of layoffs

From an APJ perspective, these layoffs, while difficult, were long overdue. For years, the company carried excessive overhead in the US and Europe: overstaffed legacy teams, prolonged decision-making processes, and limited focus on high-impact delivery.
The reductions have created a leaner organization. APJ teams are now stepping up significantly, delivering intelligent, efficient work on cloud and AI initiatives at a much faster pace while headquarters adapts to the new structure.
For those affected by the layoffs: if performance or adaptation lagged, the cuts were inevitable in a competitive market. Rather than endless complaints in forums, the focus should shift to skill development or new opportunities.
The company is now more agile and better positioned for growth in 2026. APJ continues to drive strong execution. It is time to contribute meaningfully or move on.

Heard about FTE layoffs in STS around March / April. Is it true?

Looks like a wave of layoffs hit CDO Friday, EOM. Lots of people gone.. :(

Why? How many are next?

I know there’s a good bit of you on here that were let go in early December and were sent that BS separation letter to sign. My question is: if we agreed to sign it, that meant we stayed “employed” until March 31st and that would be our last day of employment and can sign up for unemployment on April 1st.

My question is: Since March 31st is our last day of employment, we would receive a final paycheck on April 15th, correct?