#layoffs

I remember walking through the halls here when I first started and feeling genuine excitement about the place. The energy was real and people seemed to actually enjoy being here. Over the years, I watched that energy fade as the bank stopped treating employees like partners and started treating them like just another expense. Now it's completely unrecognizable.

https://kobi5.com/news/top-stories/asante-begins-layoffs-as-ceo-anticipated-308236/

We will be no exception. Make sure you're prepared for when it happens, because this will be one situation when finding something new will be nearly impossible, with all the workers flooding the job market.

What the he-l kind of leadership is that?? How is that acceptable? This place used to have good managers. Now all of them have been laid off or left and we're stuck with new id--ts with zero people skills and even less knowledge. No wonder this place is sinking as fast as it is.

Looks like we’re getting hit every three months. No wonder morale is in the gutter.

I swear, I hear this one more time from anybody, I won't be responsible for my actions.

Meta confirmed 671 Bay Area layoffs across three offices in its latest WARN filings with California officials after last week’s announcement that the company would cut around 8,000 jobs globally.

https://www.sfgate.com/tech/article/zuckerberg-meta-workforce-22269029.php

I know that store closings happen throughout the year, but what about layoffs? I've heard they happen each and every January but can't find much about outside of that.

Meaning, has anybody heard anything about layoffs lately?

The management is chanting "AI" in every meeting, even the office plants know the next layoff is coming soon. Stop waiting for the axe to cut your head. If you’re eyeing the exit, get your interview script ready. If you’re worried about the bank account, find a side hustle. If you’re the sharpest technical mind in the room, stop fixing your manager's broken Excel formuls, let them figure out how to "AI" their way out of a circular reference. If you possess knowledge within your team that others do not, stop sharing it; Your kindness is pushing your own head into a noose.

@b9+1kr2g8fby is 100% right.

FIS is on its way to bankruptcy.
Norcross ran company by M&A and hiding the financials.
After WorldPay disaster, FIS tried to fool Wall St. by acquiring Global Payments.
But deal was leaked and did not go thru.
This company is built on Financial networking nothing else.
The product offering are outdated and have very bad reputation in market.
If you own stock then do yourself a favor by selling it now.

Lowell City Council approved a new fire department budget. This budget avoids proposed layoffs for six firefighters. A deal was struck between the City Manager and union president. The union agreed to work on reducing overtime costs. This agreement preserves the department's current staffing of 203 positions.

Lowell, Massachusetts

https://www.bostonglobe.com/2026/05/27/metro/lowell-fire-department-layoffs-after-massive-fire/

Safeway plans to close its Newport, Oregon store. This closure will result in 69 employee layoffs. The store, located on N. Coast Hwy, will shut down on July 26. A Worker Adjustment and Retraining Notification detailed the job losses. Some affected workers may transfer or continue employment after the closure.

Portland, Oregon

https://www.koin.com/local/oregon-coast/major-grocery-store-chain-announces-closure-69-layoffs-on-oregon-coast/amp/

U.S. layoffs reached 5.2 million by March 2026. The tech sector saw significant job cuts. Major tech companies reduced staff, citing AI shifts. Many terminated workers lose their group life insurance. Experts advise against relying solely on employer-provided coverage.

https://www.usnews.com/insurance/life-insurance/layoffs-personal-life-insurance-2026

Terex plans to close its North Bend plant. This decision follows a recent company merger. Terex merged with REV Group. Up to 117 employees may face layoffs. The plant is located in North Bend, Washington.

North Bend, Washington

https://www.bizjournals.com/seattle/news/2026/05/26/terex-genie-rev-north-bend-washington-aerials.html

Methuen police leadership seeks a civil service law exemption. This change would base demotions on time in rank. Current civil service rules consider total employment time. The City Council gave initial approval to this proposal. State legislature adoption is still required for the change.

Methuen, Massachusetts

https://www.eagletribune.com/news/merrimack_valley/city-seeks-modification-to-civil-service-rules-in-the-event-of-layoffs/article_d3b0ce4f-8d7e-4094-87bc-c6abaef5b5b0.html

NetApp recently conducted layoffs. These job cuts occurred in San Jose. The affected positions included product management. Software engineering roles were also impacted. Sales department employees faced job reductions.

San Jose, California

https://www.bizjournals.com/sanjose/news/2026/05/26/netapp-layoffs-san-jose.html

Fewer teachers will work in the Palm Beach County School District this fall. The district anticipates position eliminations. Subsequent layoffs are also expected. This follows a 3.5% raise approved for teachers. Enrollment falls contributed to the decision.

Palm Beach County, Florida

https://www.palmbeachpost.com/story/news/education/2026/05/27/palm-beach-county-teachers-raises-layoffs/90259750007/

Asante confirmed it began staff layoffs. CEO Tom Gessel anticipated these reductions. He expected around 300 employees would be affected. This impacts 5 to 6 percent of staff. The health system reports significant financial losses.

Medford, Oregon

https://kobi5.com/news/top-stories/asante-begins-layoffs-as-ceo-anticipated-308236/

Bowie State University is planning layoffs. This decision follows significant fundraising. The university recently raised nearly $130 million. The article questions the rationale behind these job cuts.

https://www.thebanner.com/video/2026/05/26/bowie-state-university-raised-nearly-130-million-so-why-are-they-planning-layoffs/

Many workers report being laid off, only to see similar roles reposted later. Employment attorney Chiquita Hall-Jackson calls this a "quiet repost" and sees it often. This practice can create significant legal exposure for employers, potentially leading to lawsuits. Workers should examine layoff demographics and document all workplace communications. Understanding legal rights during layoffs is crucial as job security evolves.

https://www.forbes.com/sites/jasminebrowley/2026/05/26/the-layoff-loophole-workers-need-to-watch-for/

Meta announced 1,395 layoffs in the Seattle area on May 20. These cuts affect approximately 20% of the company's Washington workforce. The layoffs are part of Meta's strategy to offset significant AI investments. Affected employees include technical writers, data scientists, and engineers. Their last day of employment is expected to be July 22, 2026.

Seattle, Washington

https://www.fox13seattle.com/news/1400-seattle-meta-jobs-layoffs

Check these out on your own. If you think it is worth staying because of a massive payout, think again.

---> Expect ~40% to disappear instantly via "sell-to-cover" on the day the RSUs vest.

----> Anticipate an additional tax bill of roughly $20 to $33 for every $1,000 of gross RSUs vested.

Choose your future wisely. Go look this crud up yourself.

Posting because people say "kick back and let everything just increase with RSUs and ESPP". RESEARCH THESE YOURSELF.

Bullet points...

Under Cisco’s standard severance agreements, Cisco typically accelerates the vesting of RSUs that would have vested through a specific forward date (often the next major vesting milestone or up to a few months out).

The True Tax Cost: 25% to 50%+ (Based on your total annual income)
When these accelerated RSUs vest on your termination date, they are treated exactly like a cash bonus (supplemental ordinary income). You are taxed on the Fair Market Value (FMV) of the stock on the day it vests.

Because the federal government mandates a flat 22% withholding for RSUs, you will likely owe extra tax at April filing time if your total annual income puts you in the 24%, 32%, 35%, or 37% federal tax brackets.

Employee Stock Purchase Plan (ESPP)

Option A: Disqualifying Disposition (Held 2 years from offer start AND > 1 year from purchase date)

If you have held the shares past both milestones:

Ordinary Income Tax Rate (12% to 37%): You pay ordinary income tax only on the lesser of: the actual profit, or the 15% discount based on the stock price at the start of the offering period.

Long-Term Capital Gains Rate (0%, 15%, or 20%): All remaining profit is taxed at the much lower long-term capital gains rate. For most tech professionals, this rate is 15%.

and $$$ has to come from somewhere. things are bad right now.

Yahoo Finance: "Boston Scientific (BSX) and Abbott (ABT) are appearing on recent near-low screens." - OK, we get it. It's bad. Not sure about layoffs tho...

The golden years are long gone. To compete with price slashing, we have to almost give away our product. This leaves less to work with. Though cost cutting has been a theme the past 5 years. But this past year has reached Sprint levels. Do more with less people and money but be happy about leadership's questionable decisions. It is scary the similarities of what Sprint went through before being destroyed and what we are seeing today within. A sad coincidence we added yellow to our colors. On top of all that weight from above, customers are getting worse. Not just with us but everywhere. The entitlement norm and lack of compassion or respect of fellow humans is a crazy strain on workers already looking over their shoulder.

@xx+1kqqf7e4m makes an excellent point.

We've been weighed down by margin pressure quite a bit. General population will continue to be VERY cautious given all the sh-t that's going on in the country and inte world. Plus this case of a lingering fallout from the botched Albertsons merger - it's a messed up mix of bad things. Now, I wander, how much suffering will be directed towards the employee. I hope for the better, but i am increasingly losing that hope.

I work for Avis Budget in Reno, NV as a car washer. But only until June 5th because then they have decided to lay off all car washers and drivers and replace us entirely with temps.

shows 77 people at the San Jose site were part of the layoff

I mean, once AI gets exposed as an overhyped, expensive, hallucinating toy?

PLEASE, what home that org is.

I am here to inform the masses at WF that more layoffs will continue across all business lines. Mark my words. It’s like letting horses at of the corral.

Wells Fargo or Bust.

Let’s ride like the wind bullseye 🎯.

Baffinland Iron Mines confirmed no layoffs are planned at its Mary River mine. This announcement came despite the company filing for creditor protection on May 15. Baffinland faces a $1 billion debt from a failed 2022 expansion effort. The company has until June 3 to repay its significant debt. Inuit associations have hired lawyers to protect Inuit rights during these proceedings.

Nunavut

https://www.thespec.com/news/canada/nunavut-mining-company-says-its-not-planning-any-layoffs-inuit-associations/article_1c65a8fa-4955-5e44-9738-1583abe0ac31.html

Groupon, Inc. announced a restructuring plan to become an AI-native company. The plan includes reducing up to 400 positions globally by the end of the third quarter 2026. Pre-tax restructuring charges are estimated at $7 to $13 million, primarily for severance. Annualized payroll actions are expected to generate $20 to $25 million in cost savings. Groupon raised its full-year 2026 Adjusted EBITDA guidance to $75 to $80 million.

Chicago, Illinois

https://www.stocktitan.net/sec-filings/GRPN/8-k-groupon-inc-reports-material-event-1ecafd00d145.html

JPMorgan Chase conducted layoffs in New Jersey this year. Novartis also implemented layoffs in the state. Both companies have had three rounds of staff reductions. Meta, owner of Facebook, announced New Jersey layoffs. British bank Barclays is also letting go of staff in the state.

New Jersey

https://www.northjersey.com/story/news/business/2026/05/26/barclays-jpmorgan-chase-meta-and-novartis-to-lay-off-hundreds-in-nj/90259954007/

Somerville's Mayor Jake Wilson announced staff reductions. The city cut thirteen active employee positions. Sixteen vacant roles were also eliminated from the budget. This action addresses a projected $5.4 million budget deficit. Impacted staff will receive paid leave and human resources support.

Somerville, MA

https://patch.com/massachusetts/somerville/somerville-announces-large-scale-layoffs-city-hall

Social casino game-maker SciPlay recently cut a limited number of roles. This decision followed a 7% year-on-year revenue drop for the company. SciPlay's parent company cited a tough social casino market. The layoffs appear related to the game Bingo Showdown. SciPlay did not confirm the exact number of staff affected.

https://mobilegamer.biz/layoffs-at-sciplay-as-parent-company-cites-tough-social-casino-market/

Portland State University faces significant financial challenges. Its enrollment has dropped over 20 percent since the pandemic began. President Ann Cudd proposes laying off faculty and eliminating two departments. This plan includes 52 union faculty positions and the conflict resolution and university studies departments. Faculty unions strongly oppose these proposed cuts and have voted no confidence.

Portland, Oregon

https://www.insidehighered.com/news/faculty/labor-unionization/2026/05/26/portland-state-layoffs-loom-despite-faculty-calls-pause