#layoffs

Fifth Third just announced they are purchasing Comerica to form the 9th largest US lender. The current administration is going to be a lot more open to consolidation. M&T is no longer be able to compete with the larger institutions, especially with their reliance on commercial real estate. Despite huge investments in technology, it's obvious that M&T can't keep up (as evidenced by the failed People's United conversion and an antiquated web banking platform). These layoffs could be an effort to make the company a more appealing target.

A Takeda spokesperson confirmed to FirstWord on Thursday that 137 of its employees in Massachusetts will be let go due to this change.

The layoffs are the latest to hit the pharma's workers in the state. Last year, Takeda cut nearly 1000 staffers in Massachusetts.

https://firstwordpharma.com/story/6230311

It’s just for fun:

“If USAA does plan a major layoff, it is most likely to occur before the end of 2025, perhaps in late Q4 2025 (October–December), as part of restructuring under the new CEO’s agenda.”

It also talks about if there’s someone does similar tasks as you, your odds of being laid off is higher. Based on available data, it looks like there are a lot of redundancies in the risk and compliance space. Even though there’s a lot of regulatory hurdles USAA still have to deal with, but it seems like data suggests that the current structures are not effective.

Wishing everyone impacted the best of luck in finding new opportunities. If you're comfortable sharing, I’d love to hear more about how many people were affected and what kind of severance or support is being provided.

Any details are appreciated, & it could help others prepare in case of negotiations

Wishing you all the best during this challenging time!

What's the latest on Wealth solutions?

The mood has been quite somber this morning since last Friday's shocking announcement.

We had a flash call this morning about possible impact.

Meeting invites out today for layoffs

New ceo said hard decisions will be made when discussing how we will win for shareholders... Layoffs? Lots and lots of layoffs? Yup

Hearing it's going to be big org changes. Also, all you publicly complaining about RTO and trying to protest coming into the office, you will get the response of finding out who is in charge.

Don’t delude yourselves into thinking this might be different. There’s no such thing as an employee-positive CEO. They’re all beholden to shareholders, even those few who don’t think about their own pockets first. The only question right now is how drastic the cuts will be.

A related / unrelated question. Have a Medicare PDP plan, heard on the street Elevance is getting out of that space. Did a chat on Sydney and was told 1. Yes they are leaving 2. Should have seen in 2026 ANOC. 3. They can’t tell when, how or if an ANOC was sent to me, even though I know they should be able and it is a compliance. Issue. Anyway I’ll see if they actually send it, glad my DR gave me a heads up. What’s up with Carelon anyway? Have they been reducing staff?

How long will this go on for?

I see so many people just walking away, and it makes me so angry. You’re doing them a favor! Make them lay you off! Make them pay you! Don’t do exactly what they want with everything they’ve been doing and the toxic atmosphere they’ve created. Why? Why would you do something like that?

Rumor is that EBCE folks get the axe in the coming 2-3 weeks. My question along with this is why are they still taking up people's time and still starting engagements?!

Leadership's pursuit of personal short-term gains fosters a culture of self-interest that undermines the organization's long-term success. This mindset spreads downward, encouraging employees at all levels to adopt similar behaviors, such as avoiding risks or long-term projects that don't yield immediate benefits.

Dell is the epitome of managerial hypocrisy and short-termism, lauding remote work's efficiency and sociability, only to pivot to hybrid work with false promises of promotions, then enforce full-time office attendance, all while surreptitiously laying off a large percentage of the workforce and overburdening others to evade severance costs, prioritizing savings and control over employee trust and well-being.

I still can’t figure out for the life of me how they pick who stays and who goes when it's time for cuts. Some of the best people I’ve ever worked with got cut while the dead weight’s is still around, completely unbothered. Throwing names in a hat would be a better strategy than what was used.

Any info on timing?

Who is getting canned today?

If you value your self respect and want to beat the layoffs, get out now. In three weeks you won't have a chance. The move has already started with many orders being pushed out until the move has been completed. If you wonders what is going on, a PCOE employee slipped out that two areas are closing and there work going back overseas and the employees will be laid off. All any one has to do is look around, were is the work. Warehouse employees look busy but the jobs are being sent overseas. The worst part is the PGLs are gone half the day. They won't face the employees.

Have there been any? Seems odd we have been spared so far.

Oracle’s strategy is firmly established from its earnings notice, with a clear commitment to continuing as a leader in the infrastructure space. The key upcoming changes include:

• Expanding headcount in data centers and OCI (Oracle Cloud Infrastructure)
• Doubling down on OCI initiatives
• Phasing out legacy applications
• Transforming select legacy apps into more modern solutions
  To remain relevant, you will need to align yourself with one of these focus areas. Please be aware that there will be significant reductions in management and leadership roles in the near future. These cuts are expected to occur continuously over the next two years. Now would be a good time to start updating your resume. People who were laid off recently will struggle for a while but eventually settle in. So plan ahead.

People are drowning in work! We can’t get to half of the things we need to be doing because so many have already been laid off that it’s physically impossible for the rest of us to get it all done, and yet I keep hearing about more layoffs all the time. When will it be enough?

This is the only job I’ve ever had where I have to worry about layoffs every two weeks. I’ve worked for other major banks, I’ve worked in other industries too, and nowhere was it ever this bad. I thought joining Wells Fargo would be a great career opportunity for me. Instead, I’m already looking for something else because I’ll be damned if I’m going to stay at a place where layoffs are such a normal, accepted thing that they happen every 14 days. I can lose the pay raise I got by moving here, I don’t even care, but I’m not staying.

When are the next business control layoffs?

Does anyone know if they’re doing it based on seniority, highest pay, department, etc?

Anyone know if some departments/entities are gonna be hit more than others?

Rumors are getting strong that there will be big layoffs in Q4 2025. HR is preparing the lists. Each VP got a target number for their department. It will be a sad Xmas season for a LOT of people.

Sounds like it is going to be a quarterly thing from now.

Glad they are finally addressing the problem with all the under performers.

Listen up. If you’re looking to get a job with Chevron anywhere, please do not be fooled. Chevron is building their ENGINE facilities in India and has no intention of taking care of their American workers who have built the company.

Hey, I get it… If you need a job, use them to get a job so you can have an income and benefits while you’re looking for another job. Don’t think that they will reward you if you work really hard for the company. That’s not how Chevron operates. Their MO is to use you to produce only until they find someone to do your job cheaper, as evidenced by the recent layoffs. It’s well known that they lay off older workers to cut off their pensions and hire younger workers at lower wages systematically.

Chevron has about $257 billion in assets. Their net profit was 35.465 billion in 2022, 21.369 billion in 2023, 17.661 billion in 2024 and they’re on track for 13.441 billion in 2025. Do you notice the downward trend in profits? That translates into layoffs and offshoring and outsourcing jobs for greater profitability.

Their recent layoffs were particularly brutal for their older workers. People dedicated their lives to the company under the false belief that they would retire with the full pension that they were promised when they started working for them. Your grandfather‘s Chevron is not the current Chevron that exists. As soon as this CEO is done taking his hatchet to Chevron and jumps ship with his golden parachute they will bring in a new CEO with lots of new and bold promises. Don’t fall for it.

Those of us who have been retained at Chevron know that our heads are on the chopping block. We have watched very intelligent, talented, dedicated, and experienced colleagues get laid off via email with the attitude to not let the door hit you in the a$$ on your way out. After 20 years with this company, I was appalled at how they treated my colleague at the end of his career here. No parting words of thanks, no retirement celebration, no words of praise or thanks…a simple kick in the a$$ via email and adios amigo.

PLEASE, if you’re thinking of a career at Chevron, DON’T. If you need a job, use them just long enough to land another job and get out as soon as you can. I’ve done my duty to alert you. If you’re reading this and decide to work for them, when it happens to you, you won’t be able to say that nobody ever told you or that you didn’t see it coming. A word to the wise is sufficient.

There are so many people taking the severance pay or finding other jobs and leaving. We are already stretched thin and losing more people before the layoffs have even started.

Why did CP announce layoffs the better part of a year before it was scheduled to happen?
Answer: To create a culture of fear to squeeze harder work and backstabbing from its employees. An employee in deep fear is a desperate employee, especially in times of industry decline, and many will do anything to keep their job, to include going the extra mile to make co-workers look bad.

https://www.youtube.com/watch?v=MohJLPgutKQ

It layoffs (100 plus) in outsourcing effort to TCS scheduled for announcement October 7th , 2025
No leadership roles will be affected.
Leadership roles actually created and filled from external.
Padded bonuses from Executive to senior leadership will be protected while Long term employees will be removed and/or reduced.

This company is out to reduce head count by hook or crook.
Plan your next financial and career plan ahead.
Don’t assume you can stay here till you are 60 or 65.

The layoffs are a’comin! While they be right before Christmas this year? Will they admit their DEI initiatives have failed? Will they keep the unproductive drones?

Worker Adjustment and Retraining Notification Act of 1988

There's nothing noted on the WARN Act tracker about Stifel layoffs. www(dot)warntracker(dot)com.

Does anyone know how they got around this?

My manager got demoted to IC and their direct reports were moved under the director (by the director themselves). How come the director has this much power? Why are the directors never demoted?

I like my manager much better than the director.

Now the director will have around 30 direct reports which is suspiciously high number. Looks like many people in my team will get laid off eventually.

I’ve been trying for months, just to be on the safe side since I expected layoffs to happen. I thought job hunting would at least give me some peace of mind, but it’s done the opposite - I’ve started to panic. It’s so bad out there that I’m now even more terrified of losing this job. I feel cornered and paralyzed. I just hope the current job market slump is temporary, even though all signs point to it getting worse.

I’m not sure whether it’s just Houston or all locations. Houston has a lot more to process than other locations so it could go either way at other locations. My recommendation is to start cleaning your laptop of any personal stuff, take personal things home now through the next few weeks, and then you’re prepared on Nov 10th regardless of what happens. Even if it happens in the office at your location, you probably don’t want to be walking down the hall with a box of your things for all to see. Where’s the dignity in that? For those that are told to WFH, the typical process is to mail you a pre-labeled box that you can use to ship your laptop and any other company property back to the company. There’s obviously no cost to you because the box is already labeled for prepaid shipping by the company. Everyone agrees that this whole thing is a difficult process, and for some a devastating one. Everyone I’ve spoken to is stressed out and very uncomfortable with what’s coming. Nonetheless, everyone will get through it one way or another. Life will go on and those who lose their jobs (unwillingly) will find new opportunities to begin the next chapter of their lives. Life does not end with one’s job. Remember that getting laid off in this round isn’t necessarily a reflection of your performance or value. This is such a large layoff that many good people that perform well will be dismissed. But, life will go on and those that are laid off will find the next opportunity in the next chapter of their lives.

Bumping this up for visibility. OP: @b4+1k6qj76jc

I know that many long-time employees were let go, and it’s truly a sad and shameful situation. I hope everyone affected lands on their feet soon. Please know that many of us care deeply and are wishing you all the luck and happiness moving forward.

It’s a rhetorical question, no need to answer. Leadership doesn’t see us as people, and they couldn’t care less about our families, debts, health, or the stress and uncertainty they’re putting us through. Many layoffs have gone underreported, and more are coming despite management’s attempts to convince us otherwise. What a way to treat the people who actually do the work and create the value and profits.

I am hoping this posts help people. I was let go in July and was provided severance for 3 months. My last day is October 21. I had been with the company for 7 years. As soon as I was informed I started looking. I had couple of interviews and they had started to do background check. BNY uses a third party (The work number) from equifax to do employment verification. I am in the last stages with one of the companies and I proactively did my verification. Here is how they are going to mess me up. In the report it shows

Employment Status: Active
Original Hire Date: my date when I was hired
Date of Termination: 10/21/2025

I am not telling employer that I am laid off as I am still receiving paycheck. I am afraid that when they do the background check they will see that the date of termination is already populated and I fear they might rescind the offer.

This company can't do one thing right other than sc--wing employees. Did anyone go through this scenario? I am afraid that I might loose this opportunity.