#restructuring

Cisco Systems announced layoffs affecting fewer than 4,000 employees. This reduction represents less than 5% of its total workforce. The company reported a record quarterly revenue of $15.8 billion. Cisco is reallocating investments towards artificial intelligence priorities. The restructuring program is expected to cost approximately $1 billion.

https://www.peoplematters.in/news/strategic-hr/cisco-announces-5percent-layoffs-while-posting-record-dollar158-billion-revenue-49730

Verizon announced new layoffs affecting several hundred U.S. employees. These cuts follow a larger reduction of 13,000 roles less than six months ago. The company aims to achieve $5 billion in operating expense cuts by 2026. This restructuring is part of a broader strategy for cost savings and efficiency. Verizon also reported strong first-quarter growth and expanded its fiber network.

https://www.zacks.com/stock/news/2921385/verizon-announces-new-layoffs-as-cost-cutting-continues-into-2026

Every time leadership reshuffles the org chart, employees do not feel alignment. They feel a wave of anxiety that another round of layoffs is coming. That feeling does not disappear after the new chart is published. It settles into the background and quietly consumes attention, focus, and energy. People start working two jobs. Their actual job, and the job of managing their own fear. On top of that, we are paying a massive tax on context switching. Teams barely get comfortable with new priorities or new leaders or new workflows before leadership announces another reset. It is impossible to build real momentum when you are constantly starting over, constantly reintroducing yourself, constantly trying to remember what the mission was supposed to be this quarter versus last quarter. I would argue that stability is not just nice to have. It is a genuine competitive advantage. But you cannot demand world class creativity and execution from people who are always bracing for impact. What the company actually needs is not another reorg. What we need is a resilient long term plan, a consistent direction, and a culture where people feel safe enough to do their best work. That is how you win, whether you are playing for now or for later.

Takeda Pharmaceutical will cut around 4,500 global positions. These reductions are planned for fiscal year 2026. Hundreds of Massachusetts employees are also facing layoffs. The company attributes these cuts to the decline of its dr-g VYVANSE. This restructuring aims to fund new dr-g development and launches.

Cambridge, Massachusetts

https://www.masslive.com/news/2026/05/takeda-is-laying-off-4500-by-years-end-with-hundreds-of-mass-employees-on-the-line.html

Cisco to cut about 4,000 jobs in AI-focused restructuring as orders surge

• (Reuters)
• Reuters reports that Cisco will cut nearly 4,000 jobs in a restructuring to shift investment toward AI and related growth areas while raising its annual revenue forecast after a surge in hyperscaler orders.

  https://www.reuters.com/technology/cisco-raises-annual-revenue-forecast-2026-05-13/

Read the memo: Cisco to cut about 4,000 jobs in AI-driven restructuring

• (Business Insider)
• Business Insider publishes Cisco CEO Chuck Robbins' memo and reports that the company will cut fewer than 4,000 jobs while redirecting investment toward AI chips, fiber optics, and security.

  https://www.businessinsider.com/cisco-announces-4000-layoffs-ai-driven-business-shift-2026-5

Cisco To Cut Nearly 4,000 Jobs In Restructuring Push Around AI, Security

• (CRN)
• CRN reports that Cisco will notify most affected employees starting May 14 as it cuts fewer than 4,000 roles and reallocates resources toward AI, security, silicon, optics, and quantum networking.

  https://www.crn.com/news/networking/2026/cisco-to-cut-nearly-4-000-jobs-in-restructuring-push-around-ai-security

Bay Area tech giant Cisco to cut thousands of jobs after record revenue

• (SFGATE)
• SFGATE reports that San Jose-based Cisco will cut fewer than 4,000 jobs after record quarterly revenue and notes that California had not yet received a WARN filing as of Wednesday.

  https://www.sfgate.com/bayarea/article/cisco-layoffs-bay-area-22257875.php

Cisco to Shed Jobs for All-In AI Push

• (The Wall Street Journal)
• The Wall Street Journal reports that Cisco plans to eliminate fewer than 4,000 jobs this quarter to move more resources into silicon, optics, security, and AI.

  https://www.wsj.com/business/earnings/cisco-to-cut-jobs-in-shift-to-capture-more-ai-demand-b99eeb21

Cisco to cut jobs so it can invest more in AI, and the stock rockets toward a record

• (MarketWatch)
• MarketWatch reports that Cisco plans to lay off fewer than 4,000 employees and record up to $1 billion in restructuring charges as it increases AI-related investment.

  https://www.marketwatch.com/story/cisco-to-cut-jobs-so-it-can-invest-more-in-ai-and-the-stock-rockets-toward-a-record-cf9d09a9

Cisco Soars on Sales Forecast, AI-Focused Restructuring Plan

• (Bloomberg)
• Bloomberg reports that Cisco shares rose after the company announced a stronger-than-expected sales forecast and a restructuring plan tied to thousands of job cuts.

  https://www.bloomberg.com/news/articles/2026-05-13/cisco-gives-better-than-anticipated-forecast-plans-to-cut-jobs

Cisco Earnings and Revenue Beat Estimates on Strong AI Demand. Its Shares Surge.

• (Barron's)
• Barron's reports that Cisco beat earnings expectations and announced roughly 4,000 job cuts as part of a restructuring tied to AI-driven demand.

  https://www.barrons.com/articles/cisco-earnings-stock-price-f649ed14

Cisco Earnings, Revenue Beat As Stock Hits Record High Amid Strong AI Orders

• (Investor's Business Daily)
• Investor's Business Daily reports that Cisco's stock hit a record after strong AI orders and notes that the company announced layoffs of about 4,000 employees.

  https://www.investors.com/news/technology/cisco-stock-cisco-earnings-artificial-intelligence-q12026/

Cisco announces layoffs with Q3 results

• (Seeking Alpha)
• Seeking Alpha reports that Cisco announced it will let go of fewer than 4,000 employees in conjunction with its third-quarter results and AI-focused strategy.

  https://seekingalpha.com/news/4592518-cisco-announces-layoffs-in-conjunction-with-q3-results

Cisco CEO says reducing workforce in Q4 by fewer than 4,000 jobs

• (TipRanks)
• TipRanks reports Cisco CEO Chuck Robbins' statement that the company will reduce its workforce by fewer than 4,000 jobs in the fourth quarter while investing in AI, silicon, optics, and security.

  https://www.tipranks.com/news/the-fly/cisco-ceo-says-reducing-workforce-in-q4-by-fewer-than-4000-jobs-thefly-news

Cisco unveils $1B overhaul, about 5% job cuts after posting blockbuster Q3 results

• (Investing.com)
• Investing.com reports that Cisco announced a restructuring with about 5% job cuts and up to $1 billion in charges after strong third-quarter results.

  https://uk.investing.com/news/earnings/cisco-unveils-1b-overhaul-about-5-job-cuts-after-posting-blockbuster-q3-results-4676309

Cisco announces 4000 layoffs as Q3 earnings beat amid 'broad-based demand'

• (Yahoo Finance)
• Yahoo Finance reports that Cisco announced a restructuring plan to cut 5% of roles, or fewer than 4,000 jobs, alongside third-quarter earnings that beat expectations.

  https://finance.yahoo.com/markets/live/earnings-live-updates-cisco-announces-4000-layoffs-as-q3-earnings-beat-amid-broad-based-demand-103000342.html

CISCO REPORTS THIRD QUARTER EARNINGS

• (Cisco Investor Relations)
• Cisco's earnings release says the company announced a restructuring plan with up to $1 billion in expected pre-tax charges tied to severance, termination benefits, and other costs.

  https://investor.cisco.com/news/news-details/2026/CISCO-REPORTS-THIRD-QUARTER-EARNINGS/default.aspx

Team,

Today we announced our Q3 FY26 earnings with record revenue of $15.8 billion, up 12 percent year over year, and double-digit top and bottom-line growth. The ELT and I could not be prouder of the growth you have all delivered for Cisco.

These results are even more impressive given the complex environment we’re operating in - a rapidly changing market, with intensifying competition, and a global shortage of components critical to support our portfolio and the AI buildout from our customers.

The companies that will win in the AI era will be those with focus, urgency, and the discipline to continuously shift investment toward the areas where demand and long-term value creation are strongest. I’m confident Cisco will be one of those winners. This means making hard decisions - about where we invest, how we’re organized, and how our cost structure reflects the opportunity in front of us.

With this, we are making changes today that will result in the reduction of our overall workforce in Q4 by fewer than 4,000 jobs, representing less than 5 percent of our total employee base. Most notifications will begin on May 14 and continue globally in alignment with applicable local laws and regulations. For employees whose roles are impacted, leaders will share details directly - including timing, available resources, support, and benefits in each country. This will include pro-rated payment of FY26 bonuses to impacted employees. We will provide support in finding new opportunities, whether internal or external, through Cisco’s placement services - a program that has seen 75 percent of participants discover their next role. We are also committed to continued personalized learning and will provide one year of access to all Cisco U courses and certifications, covering AI, Security, Networking, and more.

While we are reducing roles in some areas, we are making clear, strategic investments - particularly in silicon, optics, security, and in our employees’ use of AI across the company. These investments are building from a position of strength - and focusing on the technologies and businesses that will accelerate our growth, deliver unmatched innovation to customers and partners, and define our future.

To those leaving Cisco, thank you for your contribution, your dedication, and the mark you have made on this company. We are deeply grateful and are committed to handling this transition with the care, clarity, and respect that defines our culture.

For those who will continue here, we will discuss these changes and answer questions at the Cisco Beat on May 21 at 8 a.m. PT.

We have important, impactful, and consequential work ahead. Your focus, resilience, and leadership are vital to our growth and relevance in FY27 and beyond.

Chuck and the Executive Leadership Team

Total 1 billion restructuring charge. They did the same in 2024 and cut 7000 jobs.

https://blogs.cisco.com/news/our-path-forward

Page 14 - https://s21.q4cdn.com/812015656/files/doc_earnings/2026/q3/earnings-result/Q3FY26-Press-Release.pdf

On May 13, 2026, Cisco announced a restructuring plan in order to allow it to invest in key growth opportunities including
silicon, optics, security and AI. In connection with this restructuring plan, Cisco currently estimates that it will recognize pretax charges of up to $1 billion consisting of severance and other one-time termination benefits, and other costs. Cisco expects to
recognize approximately $450 million of these charges in the fourth quarter of fiscal 2026 with the remaining amount expected
to be recognized during fiscal 2027.

Walmart announced plans to lay off or relocate about 1,000 corporate employees. This aims to boost efficiency in its global tech teams. Company leaders reviewed operations before this decision. It helps Walmart adapt to a dynamic retail market. E-commerce expansion remains a critical business strategy.

https://www.gurufocus.com/news/8854817/wmt-announces-layoffs-as-part-of-corporate-restructuring

ASML and labor unions reached an agreement on a social plan. This plan seeks to reduce involuntary job losses. ASML had previously announced cutting about 1,700 management roles. The company will support impacted staff in finding new positions. Departing workers will receive severance pay and extra compensation for older workers.

https://nltimes.nl/2026/05/13/asml-reaches-deal-unions-reduce-forced-layoffs-amid-restructuring

BNY has finished its evolution from financial institution to LinkedIn‑themed performance art, where optics outrank output and your “personal brand” is the only deliverable that matters.

Real work is optional; what counts is the curated feed of hallway selfies, Teams‑call enthusiasm, and gratitude posts praising and thanking the EC, all polished to a corporate shine.

Following RV's brilliant example, Leadership has quietly traded competence for corporate‑influencer energy, rewarding visibility over execution because it’s easier to manage a workforce obsessed with image than one asking hard questions.

The shift isn’t accidental. It’s a distraction from layoffs, offshoring, and AI quietly absorbing job families. If employees stay busy perfecting “leadership presence,” they won’t notice the restructuring happening beneath them. BNY doesn’t want performers — it wants performances. Show up to the photo‑op town hall, drop a few “inspiring journey” hashtags, give a like to an EC empathy post, sing hallelujah praises to the almighty RV and EC team and suddenly you’re a rising star, even if your actual output fits on a sticky note.

At BNY, the only performance that matters is the one you can screenshot.

Takeda announced a new multiyear restructuring program. This program will eliminate approximately 4,500 roles during the 2026 fiscal year. The company expects to incur $1.07 billion in restructuring costs. It projects over $1.26 billion in annualized savings by 2028. These changes aim to accelerate growth and support new product launches.

https://www.fiercepharma.com/pharma/takeda-slimming-down-new-era-plots-4500-layoffs-latest-restructuring-drive

This is from Meta
https://www.ibtimes.co.uk/meta-job-cuts-ai-restructuring-1796398

Fidelity to Cut 800 Staffers as It Overhauls Tech, Product Teams

• (Bloomberg)
• Fidelity Investments is cutting about 800 jobs while restructuring technology and product-delivery teams and planning additional hiring.

  https://www.bloomberg.com/news/articles/2026-05-07/fidelity-to-cut-800-staffers-as-it-overhauls-tech-product-teams

Fidelity reorganizes its workplace with new hires - and a few cuts

• (Boston.com)
• Boston.com reports Fidelity will cut about 800 jobs worldwide while also hiring thousands as part of a broader restructuring.

  https://www.boston.com/news/business/2026/05/11/fidelity-reorganizes-its-workplace-with-new-hires-and-a-few-cuts/

Fidelity Cuts 800-1,000 Jobs: Reports

• (ThinkAdvisor)
• ThinkAdvisor summarizes reports that Fidelity is cutting 800 to 1,000 jobs tied to technology and product-delivery restructuring.

  https://www.thinkadvisor.com/2026/05/07/fidelity-laying-off-staff/

Fidelity to Cut Around 800 Jobs as It Restructures Technology and Product Teams

• (Hubbis)
• Hubbis reports Fidelity is cutting about 800 global roles while reshaping technology and product-delivery operations.

  https://www.hubbis.com/news/fidelity-to-cut-around-800-jobs-as-it-restructures-technology-and-product-teams

United States $7 Trillion Asset Manager Fidelity Investments to Cut 800 Jobs Representing 1% of Global 80,000 Workforce But Will Hire 2,000 Including in Engineering, Technology & Product Roles

• (Caproasia)
• Caproasia says Fidelity is cutting about 800 jobs while planning thousands of hires in engineering, technology, and product roles.

  https://www.caproasia.com/2026/05/12/united-states-7-trillion-asset-manager-fidelity-investments-to-cut-800-jobs-representing-1-of-global-80000-workforce-but-will-hire-2000-including-in-engineering-technology-product-roles/

Fidelity Investments Layoffs 2026 - 800 Jobs Cut

• (LayoffHedge)
• LayoffHedge tracks the Fidelity layoff round as roughly 800 jobs, about 1% of the company’s global workforce.

  https://layoffhedge.com/company/fidelity-investments

Fidelity Layoffs: Why The Giant Is Cutting 800 Roles While Hiring 3,300

• (AInvest)
• AInvest frames the cuts as part of Fidelity’s shift away from siloed agile teams toward larger technology and product units.

  https://www.ainvest.com/news/fidelity-layoffs-giant-cutting-800-roles-hiring-3-300-2605/

Fidelity to Cut at Least 800 Jobs Globally to Restructure Tech and Product Teams

• (AASTOCKS)
• AASTOCKS reports Fidelity is cutting at least 800 jobs globally as it restructures technology and product teams.

  https://www.aastocks.com/en/mobile/news.aspx?newsid=NOW.1523575&newssource=AAFN

Fidelity plans to cut at least 800 jobs globally to restructure its technology and product teams

• (Futu News)
• Futu News summarizes Bloomberg reporting that Fidelity is trimming about 1% of its workforce to reorganize tech and product teams.

  https://news.futunn.com/en/post/72748081/fidelity-plans-to-cut-at-least-800-jobs-globally-to

Finance Layoffs Tracker

• (TrueUp)
• TrueUp lists Fidelity among recent finance layoffs with about 1,000 roles affected on May 7, 2026.

  https://www.trueup.io/finance/layoffs

Ideal US Talent Worker OpCo LLC will lay off 9,891 remote gig workers. These layoffs are scheduled to begin on July 1. The company cited business restructuring as a primary reason. Its contracts are being transferred to a third-party partner. Affected workers are encouraged to apply for open positions with this partner.

Minneapolis, MN

https://www.msn.com/en-us/money/smallbusiness/nearly-9900-remote-gig-workers-to-be-laid-off-by-minneapolis-company/ar-AA22mF5u

Providence is implementing changes to its behavioral health model. These changes involve the elimination of 40 positions. The layoffs affect staff at Sacred Heart. The company is restructuring its health services. Further details about the new model were not specified.

Spokane, WA

https://www.kxly.com/video/providence-announces-changes-to-behavioral-health-model-layoffs/video_249f9d38-19db-5cef-94fe-2af617887158.html

GitLab announced a company-wide restructuring effort. The software company plans to reduce its workforce by June 1. This restructuring aims to meet the demands of the "agentic era." Changes include flattening management layers and reorganizing R&D teams. The CEO stated AI agents will automate internal processes, affecting roles.

https://www.businessinsider.com/gitlab-layoffs-memo-2026-5

https://www.retaildetail.eu/news/fashion/strike-at-nikes-european-distribution-center-in-protest-against-the-restructuring-plan/

So we will keep the same OLM/ RLM model or some large scale org change is coming soon? Any insights?

Sold 2 states already that they got from Frontier. Heard 3 to 6 more for sale. All in north Central Part of country. Small footprint lots of rural customers. Money being shifted to California and West Virginia

Medtronic will shut down its Santa Rosa, California site. The closure impacts 370 employees at the Fountaingrove campus. Medtronic anticipates completing the site closure by spring 2028. Operations will primarily relocate to Santa Ana, Minnesota, and Galway, Ireland. This decision is part of Medtronic's ongoing global operational restructuring.

Santa Rosa, California

https://www.massdevice.com/medtronic-reportedly-close-california-site-layoffs/

New Jersey Expansion public information: WARN notices in New Jersey affect 141 employees, with separations scheduled between May 21 and June 14, 2026, as part of an AI automation and restructuring strategy.

Freshworks will cut 11% of its global workforce, approximately 500 jobs. This decision is partly due to rapid advancements in artificial intelligence. CEO Dennis Woodside stated AI now writes over half of the company's code. Automation has reduced routine tasks across various departments. The company expects about $8 million in one-time restructuring charges.

https://www.msn.com/en-in/money/topstories/freshworks-layoffs-company-to-cut-500-jobs-ceo-dennis-woodside-explains-why/ar-AA22u4Z5?uxmode=ruby&apiversion=v2&domshim=1&noservercache=1&noservertelemetry=1&batchservertelemetry=1&renderwebcomponents=1&wcseo=1

Nearly 38,000 US jobs were cut in the first 10 days of May 2026. This affected sectors like technology, finance, and aviation. Spirit Airlines ceased operations, impacting 14,000 employees. Many companies cited AI-driven restructuring and cost reduction plans. Kyndryl, PayPal, and Cloudflare also announced significant workforce reductions.

https://americanbazaaronline.com/2026/05/10/us-layoffs-in-first-10-days-of-may-2026-nearly-38000-jobs-cut-480502/

Kyndryl restructuring should reduce overhead functions and reduce the number of managers that lack technical knowledge
Of the various systems they try to manage.
All chiefs and no Indians will cause the company to collapse.
Ai can identify various areas that can be improved as long as there is a team to analyze the data.

It seems that multi year restructuring is done,there still may be some layoff here and there but not like huge

I found this article on LinkedIn -

Nike is undergoing a massive operational reset. In a move that signals a significant shift in corporate strategy, the sportswear giant is consolidating its global technology functions back to its Portland headquarters.
The Shift: Just two years ago, the strategy focused on expansion in hubs like Atlanta for #Al and #Cybersecurity.
Today, the focus has shifted to simplification. By closing tech offices in #Atlanta, #China, and #Poland, Nike is aiming to strip away organizational layers and align its tech talent more closely with core business priorities.
The Context:
Job Cuts: Part of a broader restructuring expected to eliminate ~1,400 roles.
Direct-to-Consumer (D2C) Reassessment: As growth in digital retail moderates, Nike is

No mention of all the jobs they cut in tech in the US getting reposted to rehire in India

I've stopped learning people's names. By the time I figure out who reports to whom, they reorganize again and everyone moves. It's been three or four restructures since I started. None of them made anything better.

Around 350 workers lost their jobs at Ticketmaster on Wednesday in a restructuring that swept through engineering, product, and design teams spanning 25 countries — a reduction representing 8% of the company's total global headcount. Contractors were also let go as part of the effort.

https://qz.com/ticketmaster-layoffs-350-jobs-engineering-design-050726

I am so confused and anxious... Is this layoff wave actually over?
I went through every single thread and what I am seeing is conflicting. People around me including my manager are clueless, rumors and guessing. Here I see that some posters say all impacted employees were already notified and May is done. Others report sameday notifications still happening, “quick catch up” meetings appearing, and leadership is refusing to guarantee no further cuts.... also - multiple posts suggest that phased restructuring will go thru June. Some say September. WTF???

Medical device company Medtronic is reorganizing its cardiovascular division. Multiple heart and blood circulation businesses are being combined. This move targets high-growth areas and strategic investments. Medtronic's stock price has fallen significantly since late November. Employees have reported job cuts, but the company did not confirm layoffs.

Fridley, Minnesota

https://www.startribune.com/medtronic-restructuring/601838496

Biotech layoffs are slowing in 2026 compared to the previous year. BioNTech announced a major restructuring, eliminating 1,860 jobs. Vistagen reduced its workforce by 20% after a dr-g trial failure. Replimune cut 224 positions following an FDA dr-g rejection. Takeda and Merck also implemented significant job reductions due to various pressures.

https://www.pharmavoice.com/news/biotech-layoffs-pharma-dr-g-jobs/819649/

BILL Holdings, Inc. reported solid financial results for its third fiscal quarter. Total revenue reached $406.6 million, a 13% increase year-over-year. The company also announced a major restructuring plan to reduce its workforce by up to 30%. This restructuring is expected to incur $30 million to $60 million in charges. Concurrently, the board authorized a new $1.0 billion share repurchase program.

San Jose, California

https://www.stocktitan.net/sec-filings/BILL/8-k-bill-holdings-inc-reports-material-event-a30cd671905e.html

Ticketmaster cut approximately 350 jobs globally. This reduction represents 8% of its total workforce. The layoffs primarily affected engineering, product, and design teams. The company cited stronger prioritization and restructuring efforts.

https://qz.com/ticketmaster-layoffs-350-jobs-engineering-design-050726

Fidelity is implementing job reductions this week. Reports indicate 800 to 1,000 positions are affected. These changes follow a recent office return directive. The firm also plans to hire thousands of new staff. Restructuring impacts technology and product groups.

Boston, Massachusetts

https://www.thinkadvisor.com/2026/05/07/fidelity-laying-off-staff/

https://www.startribune.com/medtronic-restructuring/601838496

This is a bold statement by the Medtronic spokesman.

“ The restructuring is one of several since 2020, and employees have reported the latest one is occurring in tandem with layoffs.
A Medtronic spokesman declined to confirm any layoffs, saying in an email that he would not comment on “rumors of staffing changes.”
He added that the company’s hiring in recent years has outpaced any reductions — especially in the United States.
“What I will point out is that as Medtronic sharpens its focus on high-opportunity, high-growth areas, we’re making thoughtful decisions about where to invest,” spokesman Justin Paquette said in an email.”

Any guesses on total headcount reductions?

I read on teamblind reports that another former Apple Cobbler Senior Manager left the Skunk works. By the sound of it they were axed not voluntarily left on their own and no replacement announced sounds like corp. restructuring. DF was the first domino, wishing my CA colleagues the best. Polish your resumes!

Ticketmaster has laid off approximately 350 employees across its operations. These cuts affect various functions within the company. The firm aims to increase focus on fewer initiatives. It plans to bring more software development in-house. This restructuring prioritizes engineering, product, and design divisions.

https://www.iqmagazine.com/2026/05/ticketmaster-confirms-around-350-layoffs/

Delta Air Lines confirmed organizational restructuring is underway. This includes some level of workforce reduction. The airline disputes rumors of massive 8% layoffs. Changes are driven by organizational needs, not external factors like oil prices or AI. Several top-level executives recently retired.

Atlanta, Georgia

https://liveandletsfly.com/delta-air-lines-layoffs/