#layoffs

...but CVS can't afford to give a cost-of-living increase to their employees.

https://www.moomoo.com/news/post/70410806/cvs-health-cvsus-director-sells-us-317-47-million-in?level=1&data_ticket=1779459073784388

https://www.marketbeat.com/stocks/NYSE/CVS/insider-trades/

Will anyone tell us please how long this job restructuring will affect this loss of jobs? Its like the company frozen? I am stuck in job reassignment for being burned out by the call center. No one has said anything. Im tired of the lapse of communication between upper management and us. If someone can anonymously say something here about when this job restructuring will end, please do. I cant take waiting anymore. Its like they want us to quitml.

https://www.quiverquant.com/news/%24GFS+stock+is+up+10%25+today.+Here%27s+what+we+see+in+our+data

$GFS insiders have traded $GFS stock on the open market 17 times in the past 6 months. Of those trades, 0 have been purchases and 17 have been sales.

Let the fun times begin cause it’s almost upon us. Who wants to place bets that we will see a repeat of last year with falsifying ratings so they can terminate people based on bogus performance? Then Robbie can look amazing for saving the bank millions without saying how

Even if survived this round feels like would already be lined up for the next one. They have zero answers for how to actually win back market share as they aren't willing to invest in actual long term fixes. Everything has just been short term survival till next quarter talk even with the new leadership.

And to top it off they've backed clover as the growth engine. When it's a rubbish product in comparison to much more nimble competitors out there. And also one of the tightest margin spaces that exist in payments.

An on point post by @ag+1ks3fbqb9.

Your manager doesn't matter at all. They don't do anything regarding whether you remain employed or not, they learn of you getting fired about an hour before they let you know...they are useless so don't worry about pleasing your management.

Concordia University faces significant financial challenges. The university expects to implement layoffs to address a $35-million budget gap. Even with these cuts, a $20.7-million deficit is projected for 2026-27. Declining international student enrollment and rising costs contribute to the financial strain. Federal and provincial policy changes have impacted revenue streams.

Montreal, Quebec

https://montrealgazette.com/news/concordia-university-layoffs-budget-cuts/

WiseTech Global is cutting approximately 2,000 jobs. The company is reducing its global workforce by nearly 30%. The logistics software company attributes these reductions to AI capabilities. CEO Zubin Appoo stated manual coding is no longer the core engineering act. The stock market reacted positively, with shares jumping 11.1%.

https://cryptobriefing.com/wisetech-layoffs-ai-workforce-reduction/

Project management firm ClickUp laid off 22% of its employees. CEO Zeb Evans stated this was a deliberate restructuring, not a cost-saving measure. The company is reorganizing its operations around artificial intelligence. Remaining employees could see annual salary bands up to $1 million. Evans believes other companies will also adopt similar proactive changes.

https://www.ndtvprofit.com/business/clickup-layoffs-startup-cuts-22-workforce-despite-strongest-business-ceo-explains-why-11530884

Acrisure is implementing significant layoffs across its operations. The company will reduce its workforce by 11%. This impacts approximately 2,250 employees. Technology advancements, AI, and digital platforms are cited as reasons. The layoffs will begin this week and continue through 2027.

https://coverager.com/acrisure-announces-layoffs/

Spokane Public Schools anticipates significant staff reductions. Superintendent Adam Swinyard discussed potential layoffs with the board. The district may eliminate 150 to 500 jobs. Declining student numbers and state funding volatility are factors. Budget shortfalls persist even with a successful levy renewal.

Spokane, Washington

https://starlocalmedia.com/spokane-public-schools-faces-major-layoffs-regardless-of-tax-renewal/article_04d3de80-5e50-5af7-9866-1ba608937bf7.html

Naropa University will eliminate 11 core faculty and about 40 instructor positions. This addresses a structural operating deficit of roughly $2 million. Six core faculty volunteered for leave; five others were offered it. Approximately 40 instructors will not have their contracts renewed but can teach as adjuncts. The university seeks to adjust its business model and ensure future stability.

Boulder, Colorado

https://www.dailycamera.com/2026/05/21/naropa-boulder-layoff-faculty-budget/

Staff at Southern Berkshire schools received layoff notices on May 19. Superintendent Brian Ricca confirmed 21.3 full-time-equivalent positions are being cut. The district faces a budget deficit exceeding $1 million for the upcoming fiscal year. The teachers union president reported widespread anger and a sense of betrayal among staff. Ricca plans to propose rehiring some laid-off staff using available excess funds.

Sheffield, Massachusetts

https://theberkshireedge.com/layoffs-deepen-crisis-in-southern-berkshire-regional-school-district-as-mood-turns-really-really-miserable/

Intuit and Credit Karma recently conducted layoffs. These cuts affected hundreds of workers. Employees in Oakland, San Francisco, and Mountain View were impacted. The layoffs occurred across the Bay Area. This represents a mass reduction in staff.

Oakland, California

https://www.bizjournals.com/sanfrancisco/news/2026/05/21/intuit-layoffs-credit-karma-oakland-mountain-view.html

First Student's Plymouth site will dismiss 125 employees. The Wayzata District ended its transportation agreement. Operations at Plymouth cease by July 31. Bus operators and mechanics are among those impacted. The school board selected a lower-cost provider.

Plymouth, Minnesota

https://kstp.com/kstp-news/local-news/layoffs-at-local-first-student-bus-company-after-wayzata-school-district-changes-service/

The Juneau Assembly approved budget cuts following a lengthy finance committee meeting. Members voted to close and sell the Mount Jumbo Gym. They also decided to reduce funding for the Juneau-Douglas City Museum by $261,000. This reduction will lead to two staff layoffs and drastically reduced museum hours. Further cuts affected Travel Juneau and an administrative support position.

Juneau, Alaska

https://www.ktoo.org/2026/05/21/juneau-assembly-moves-forward-with-mount-jumbo-gym-closure-museum-staff-layoffs/

The company announced a 17% reduction in its global full-time workforce. This cut affects just under 3,100 employees worldwide.The changes aim to co-locate teams and reduce organizational complexity.

https://www.rgj.com/story/news/money/business/2026/05/21/intuit-shutting-down-reno-office-amid-global-layoffs/90198994007/

Watertown City Council adopted its new budget on Thursday. The approved spending plan includes an 8 percent property tax increase. This budget will result in three employee layoffs. Affected positions are a police records clerk, a library clerk, and a code enforcement officer. Ten other positions were eliminated through attrition or vacancy.

Watertown, New York

https://www.wwnytv.com/2026/05/21/watertown-adopts-budget-with-tax-increase-layoffs/

The Los Angeles Unified Board voted to approve significant job reductions. This action eliminates 657 positions within the school district’s central office. The district anticipates these cuts will save $90 million annually. These reductions are part of an ongoing fiscal stabilization plan. Further budget cuts and thousands of additional layoffs are projected for the coming years.

Los Angeles, California

https://laist.com/news/education/lausd-reduction-in-force-vote-may-2026-budget-preview

Sacramento City Unified approved additional staff terminations. This decision added to over 500 layoff notices authorized earlier. The board acted against an administrative judge's recommendation for about 100 employees. These cuts aim to address a $170 million budget deficit. District leaders seek to avoid state intervention with these measures.

Sacramento, California

https://www.abridged.org/news/sacramento-school-board-decides-on-more-layoffs/

Its first chance is when 90 days expire. So you are looking at just before the Labor Day.

California aims to lead in artificial intelligence regulation. Experts warn AI will both displace and create jobs. Governor Gavin Newsom signed an executive order on Thursday. This order prepares the state for an AI-driven economy. It includes tracking job impacts, worker protections, and training programs.

https://abc7news.com/post/california-eyes-ai-regulation-gov-newsom-orders-new-workforce-protections-amid-job-shifts-mass-layoffs/19147015/

Sony Group Corp.'s Bungie unit plans significant layoffs. The company is ending development on its online sho-ter game Destiny 2. This game's development will conclude next month. No new project is currently lined up for the affected development team. Bungie does not plan immediate production on a Destiny 3.

https://www.bloomberg.com/news/articles/2026-05-21/bungie-plans-layoffs-after-ending-destiny-2-development

The question again is to what total number of employees are they shooting for? If it's 6000 or lower, there is plenty more to go.

Or just pawns?

… water is wet, there will be more layoffs.

In fact, the layoffs are ongoing, just not in one big axe like in March. The next big swing will be within the next 60 days.

They have told you the plan: greatly reduce company size and become nearly completely Canadian-centric. And they are fulfilling that plan.

And as sure as dung stinks, OpenText will continue to su-k.

Any insight regarding Housecalls layoffs? After the meeting in January, I’m still nervous about being fired at any moment but work seems good and my county assignments are mapped until until September. We have even been given incentive visit information.

Weird to layoff people before the long weekend, that too on a Thursday. Usually layoffs are scheduled for paycheck day. Heard there were more than 100 people laid off today

I wonder if people that post are misusing “layoff” and “termination” because the way people are writing, it sounds like we are back two years ago, where everybody was getting laid off and expecting huge severance packages, which I don’t think is the case anymore. I think layoffs with big severance packages are things in the past… But I could be wrong.

JH laid off the few remaining US Retirement service reps (S/CAR role) in the Toronto & Halifax offices today. Jobs are gone to the Philippines. No more reps in Canada in this department . Sad day for this CANADIAN company.

Layoffs will be over when he gets replaced by the guy from the club...if you know what I mean. Until then layoffs every three months.

Has Al increased the probability for layoffs at Oxy?

Meta management was so professional in reducing workforce.

Direct RIFs. No Cognizant kind of gimmicks.

Immediate termination. No KT required.

FIS management is playing games with employees.. some given severance, some transferred to Cognizant to be eventually riffed.

Some Senior Managers were laid off today.

They are cutting deep, one deserved to go.

Were there more Infosec layoffs?

What is left of Infosec?

We all hoped we'd be safe until next week. I guess we never really are.

This is interesting - its on Oracles board

https://www.thelayoff.com/post/@OP+1ks61db2q

@OP+1ks61db2q

Not directly connected to Oracle but many companies in the industry are going this way. The world has changed this year…
—-
ZEB EVANS (CEO - ClickUp)

Today we reduced headcount by 22%. The business is the strongest it's ever been. So I think it's important to be direct about what I'm seeing and why.

First, I made this decision and I own it. I did it because the way to operate at the highest level of productivity is changing, and to win the future, ClickUp needs to change with it.

Second, this wasn't about cutting costs. Most savings from this change will flow directly back into the people who stay. We'll be introducing million-dollar salary bands. If you create outsized impact using AI, you'll be paid outside of traditional bands.

Most importantly, I have the deepest gratitude for those affected. We're doing this from a position of strength specifically so we can take care of people properly. Everyone affected receives a package aimed at honoring their contributions and easing the transition.

I only see two options: wait for this to play out gradually in the market or be honest about what I'm seeing and act proactively.

THE 100X ORGANIZATION
The primary change is that we're restructuring around what I call 100x org. The goal is 100x output. The roles required to build at the highest level are fundamentally different than they were a year ago.

Incremental improvements to existing systems won't get us there. We need new ones. That means creating enough disruption to rebuild rather than iterate on what's already broken.

The common narrative is that AI makes everyone more productive. It doesn't. Many of the workflows of today, if left unchanged, create bottlenecks in AI systems.

These roles will evolve. But waiting for that to happen naturally means falling behind now.

The 100x org is actually heavily dependent on people - infinitely more than today. This is only possible with 10x people that have embraced and adopted new ways of working.

THE BUILDERS, AGENT MANAGERS, AND FRONT-LINERS

— THE BUILDERS: 10X ENGINEERS
I don't think most companies have internalized what's actually happening with AI in engineering. The common narrative is that AI makes all engineers more productive. That may be true in isolation, but at an organization level - that is the farthest thing from reality.

Here's what we've validated recently at ClickUp: the great engineers, the ones who can orchestrate, architect, and review, are becoming 100x engineers. They're not writing code. They're directing agents that write code. The skill is judgment.

AI makes the best engineers wildly more productive, and everyone else using AI slows these engineers down.
Think about it - the bottlenecks are (1) orchestration - telling AI what to do, and (2) reviewing - what AI did. Everything is leapfrogged and no longer needed.
So who do you want orchestrating and reviewing code?

And how do you want your best engineers to spend their time?

If your best engineers are spending time reviewing other people's code, then this is inherently an inefficient bottleneck. These engineers can review their agent's code much faster than reviewing human code.

The new world is about enabling your 10x engineers to become 100x.

The wrong strategy is to push every engineer to use infinite tokens. Companies doing this are celebrating 500% more pull requests. But customer outcomes don't match the volume of code being generated.

I call this the great reckoning of AI coding, and every company will face this soon if not already.

More code is just another bottleneck to the best engineers, and ultimately to your company's impact as well.

— THE BUILDERS: 10X PRODUCT MANAGERS
Product management and design roles are merging.

Designers that have customer focus, become more like product managers.

And product managers that have intuition for UX become more like designers.

The bottleneck of user research is gone. It takes us just one mention of an agent to kickoff research and analyze results.

The bottleneck of product design iteration is also gone. The product builder iterates on their own, along with agents and skills that ensure alignment with quality and strategy.

Also controversial today - I believe that the wrong strategy is to have your PMs shipping code - that just introduces another bottleneck that the best engineers will waste their time on.

To be clear, PMs should be coding but they should do this in a playground to iterate, validate, and scope. That code should not go to production.

Everything outside of managing systems, orchestrating AI, and reviewing output becomes a bottleneck.
That's why the other roles that are critical along with these are the systems managers (to reduce bottlenecks) along with a bottleneck you can't replace - customer meeting time.

— THE SYSTEM MANAGERS
Ironically, the people that automate their jobs with AI will always have a job. They become owners of the AI systems - agent managers. We have many examples of these people at ClickUp.

The underlying systems in which we operate are absolutely critical to get right. I think most companies are delusional to think they can iterate on existing systems and compete in this new world.

You must create enough disruption so that old systems are deprecated entirely. If there's any definition for 'AI native' that's what it is.

— THE FRONT-LINERS
In a world that will become saturated with AI communication, the human touch will matter more than anything to customers.

This is a bottleneck that you shouldn't replace - even when agents are high enough quality to do video meetings.

One-on-one meeting time with customers is something that shouldn't be automated. The systems around the meetings should be - so that front-liners spend nearly 100% of their time with customers.

REWARDING 100X IMPACT
In a world where companies are able to do so much more with less, where does that excess money go?
In our case, much of the savings in this new operating model will flow directly back to those that enabled it.

We must reward people that create productivity accordingly. This aligns incentives on both sides. Plus, in a world where your best people create 100x impact, you can't afford to lose them.

You should aim to retain these employees for decades. The context they have and their ability to efficiently orchestrate and review will be nearly impossible to replace.

Compensation bands of today should be thrown out the door. We're introducing $1 million cash/year salary bands with a path available to nearly everyone in the company if they produce 100x impact by creating or managing AI systems.

THE FUTURE
Nearly every company will make changes like these. The ones that do it proactively will define what comes next.

The future is not fewer people. It's different work, new roles, and better rewards for those who embrace it. We're already seeing entirely new roles emerge, like Agent Managers, that didn't exist a year ago.

ClickUp is positioning to lead this shift, not just internally, but for our customers too. I've never been more certain about where we're headed.

https://x.com/dj_curfew/status/2057522382315929802

Chime in below. Also, I would not be surprised if someone was to set up a prediction market on Kalshi or PolyMarket for things like this. But then, HR or Management would have an upper hand and would always win (just like they do in the real life but that's a separate topic). So, this thread is my prediction market.