#severance

I'm not sure that AI washing can really explain this at this point. Seems extreme. Will this be another klarna moment where they are calling people back in 3 months?

https://www.wsj.com/business/jack-dorseys-block-to-lay-off-4-000-employees-in-ai-remake-28f0d869

Jack Dorsey’s Block to Lay Off 40% of Its Workforce in AI Remake
Parent of Square and Cash App says intelligence tools have changed how to run a company

By Angel Au-Yeung
Feb. 26, 2026 5:04 pm ET

Jack Dorsey, CEO of Twitter and co-founder & CEO of Square, at the Bitcoin 2021 Convention.
Jack Dorsey at a convention in Miami in 2021. Marco Bello/AFP/Getty Images
Block XYZ 4.99%increase; green up pointing triangle, the payments company founded by Jack Dorsey that includes Square and Cash App, said Thursday that it plans to lay off 40% of its workforce, or more than 4,000 employees.

Dorsey alluded to artificial-intelligence tools as the reason for the cuts in a letter to shareholders.

“The core thesis is simple,” wrote Dorsey. “Intelligence tools have changed what it means to build and run a company.”

The company said the plan would cost it $450 million to $500 million in expenses and severance. Shares rallied more than 20% in after-hours trading.

Big companies have already been laying off thousands of white collar workers over the past year, in some cases pointing to increased efficiency created by AI. Salesforce cut roughly 4,000 customer-support roles last year because of AI advancements. Pinterest, meanwhile, has said it is laying off nearly 15% of its workforce as part of a plan to focus more of the company’s resources on AI-related roles.

And the fear AI would shrink jobs and replace the functions of whole companies sparked a market rout earlier this week after a research report imaged a dystopian future for the U.S. economy.

Analysts and economists have pushed back against the scenarios laid out in the report, but Block’s drastic job cuts will likely stoke up those fears.

The company said most of the layoffs would occur in the first quarter of this year and be completed by the second quarter.

“I don’t think we’re early to this realization. I think most companies are late,” Dorsey wrote. “Within the next year, I believe the majority of companies will reach the same conclusion and make similar structural changes.”

Will Wells Fargo claw back your package? Can you get double paid?

Macy's announced plans to eliminate 79 jobs across New Jersey. These layoffs will affect employees in fragrance, fine jewelry, and cosmetic sales. Cosmetic beauty merchandisers and brand experts are also impacted by the cuts. This action is part of the company's ongoing restructuring and turnaround program. Macy's is offering severance and transition support to affected staff.

https://www.courierpostonline.com/story/money/business/2026/02/26/macys-layoffs-nj-fragrance-cosmetics-new-jersey-stores-cherry-hill-deptford-mays-landing-mall/88860828007/

I'm just wondering, in case I'm hit next time. Is it immediate, next pay period, or even later?

For those getting RIF notices this calendar year, I.e. not those notified in Nov last year… how are your severance benefits? I got my update and it’s not the same compared to the Nov benefits. Especially the stock vesting… I didn’t get my stock to continue to vest as per original plans. It’s prorated and that means I lose out on the next two years worth of stock vesting. Discrimination at its best. Please share if you have any updates.

Can anyone from previous layoff waves provide insight into how long it takes to receive your severance? I was part of the late January wave, signed my paperwork on 2/6 (my term date), and curious how long it takes to receive the severance?

The usual or did they reduce it?

This question is for people who got impacted and no longer at VZ. In regards to stock award. I got 2 of the payouts and this week was rolling into the 3rd payout which is actual shares of VZ stock. When does it actually become available? When I log on to view it it says the following

“We currently do not have vesting dates on file for this award. Don't worry, it's nothing you did. Once we receive vesting dates for this award we will make it available to you.”

Any insight will be greatly appreciated.

Still waiting for mine. Agreement says payment will be made "as soon as practicable" after termination but within 30 days.

I don't suppose I should be surprised if they make us wait the full 30 days...

To those that have already been removed from payroll, how long did it take to receive your vacation and severance payments after your last day of work? My last day was 2/20. I see the new paystub generated for this week, but it's only for five days of work. I signed the severance agreement the first possible day it was available (15 days prior to off payroll date). Just curious what the timeline looks like. Thanks!

https://straussborrelli.com/2026/02/17/lowes-mooresville-warn-act-investigation/
Lowe’s (Mooresville) WARN Act Investigation

On the call with Kevin today, they said the layoffs have already started. Has anyone on here been hit yet that can speak to what the severance packets look like?

Which are we getting?
Which are we hopeful for?

Pretty sure more Layoffs are coming for us. Can those recently let go please let us know what the new severance package is so we can all prepare

rms here outside of north east region. if they try to force me into an RTM role with no severance option, im accepting and immediately going std after this launchs for “mental health” ….then will use that time to find another position elsewhere. but to b honest, already been doin that, applied to hundreds of positions. nothing back. we are all effed. SR/RMS are all equally effed. worst economy since 08/09.

yes, it means I take a sales position from a good rep, but at the same time it will teach them a lesson and will leave a territory unmanned and in the dump. serves these vipers right.

Has anyone been able to successfully negotiate severance extension?

Has anyone counteroffer the initial severance package offered to them? If so, did you win get what you asked for? Or did they rescind the initial offer altogether?

Do you lose severance if you get a job outside of Cigna after you are given your termination letter but before your termination date?

The Ohio and Riverwoods based Discover Card Technology teams took a decent hit today. Sent them an email to join a meeting this morning and gave them the news, then said there would be a meeting later in the day with the severance details. It’s late in the day and still no details - lol. Class act!

With all the layoffs and a severance package that says “you’ll get your STI”. I’m guessing we’re not getting anywhere close to 100% on that. Does anyone know what the STI is?

If I'm laid off, I have to deal with one of the worst job markets in a long while but at least there's severance to lessen the pain. If I'm not laid off but others on my team are, at least I'll still have a job but at what price? We'll be expected to pick up the extra work and I highly doubt we'll be getting any kind of extra compensation. And I'm overworked as it is. There's really no good option here.

Hello

Would appreciate any information someone can give me. I was unfortunately laid off; effective November 13, 2025. I remained employed past the September qualification date. My Severance agreement DID NOT state anything about receiving or not receiving an RRP. My question, is there someone here who has been laid off and told they would be receiving their RRP? I called the employee resource line and the rep seemed convinced that I should get it...just looking for another opinion... Thank you in advance

Can anyone share severance amount in terms of months given? We should help each other in terms of fairness. I know there are difference regulations by countries, so if you could just share the amount you received and whether there is a formal regulation about severance in your country.
Thank you.

Will anyone tell us what the severance package is?

For those impacted by this round of RIFs- what was your severance package offer? And when does your insurance benefits end?

Wells Fargo Workforce Transformation (2020–2026)
Since 2020, Wells Fargo has executed a dual-track workforce strategy: aggressively reducing its domestic footprint while scaling up high-end engineering hubs in India. Under CEO Charlie Scharf, the bank has shifted from a growth-at-all-costs model to one defined by AI-driven efficiency and "Global Capability Centers" (GCCs).

The Domestic vs. Global Shift
While the total global headcount has dropped by roughly 25%, the impact on the American workforce is significantly more severe due to simultaneous offshore expansion:

Global Headcount: Dropped from ~275,000 in 2020 to ~205,000 today (a loss of 70,000 total roles).

India Workforce: Tripled from ~12,000 to over 36,000 employees.

U.S. Workforce: Fell from ~258,000 to approximately 164,000.

Total U.S. Impact: A net loss of roughly 94,000 American jobs, representing a 36% reduction in the domestic workforce.

Key Strategic Drivers
The AI Efficiency Multiplier: Leadership confirmed in late 2025 that AI-native coding tools have increased developer productivity by 30–35%. This allows the bank to maintain its output while reducing domestic headcount through "natural attrition" and targeted layoffs.

India as an Engineering Hub: The bank has transitioned India from a "back-office support" region to its primary engineering center. The Tower 4 campus in Hyderabad (1.2M sq. ft.) now serves as the global heartbeat for software development and data science.

Domestic Consolidation: U.S. cuts have been driven by the closure of over 1,000 physical branches and the "flattening" of middle-management layers to reduce bureaucracy.

Financial Reallocation: In Q4 2025 alone, the bank spent $612 million on severance to facilitate the exit of roughly 5,600 workers, clearing the way for a leaner, more offshore-centric 2026.

Critical Sources
SEC Filings (10-K): Annual reporting of total headcount from 2020–2025.

Investor Conferences: CEO Charlie Scharf's commentary at the Goldman Sachs Financial Services Conference (Dec 2025).

Regional Reports: The New Indian Express and HR Katha regarding the expansion of the Hyderabad/Bengaluru hubs.

WARN Notices: Public filings in Iowa, North Carolina, and Arizona documenting formal layoff rounds in early 2026.

My notice period is up, but I have not received my Separation Agreement paperwork. I reached out my the HR representative and was told it would take a few more weeks. This process seems extremely unorganized. Has anyone else had this problem? If so how did you handle or escalate this issue?

has anyone had any luck with negotiating a severance agreement with optum? i was laid off while on protected leave, and the severance agreement is laughable.

Still waiting on severance documentation.

Management isn’t providing much help
The 1-800 employee number hung up 3 times on me. Finally got a ticket in to figure out where my severance is. Good job outsourcing to India - really paying off

Found out they eliminated my position to give it to another person - is that even legal?

According to the severance agreement I was supposed to get my final paycheck today but it has yet to hit my bank. Is anyone else missing their final paycheck to?

As project Crane continues to sla-ghter headcount and increase exec compensation the job market becomes even more unfavorable leaving employees unable to pay their WF mortgages, car payments, personal loans and more. Severance pay is only for people with tenure. So many people we new to wells fargo just a couple of years ago which means at best they might see 2 weeks or so of severance. Pay your bills on that, good luck because its not possible. Unemployment in many states is around $200 a week. What can someone really do with that, NOTHING!!!!

FedEx is laying off 89 employees at a facility in Fort Worth. These job cuts will affect its Alliance area location. The company submitted a WARN notice to the Texas Work Force Commission on December 29. This action is part of a broader reorganization initiative to improve efficiency and profits. Affected employees have options including transfers, severance, or seeking other roles.

https://communityimpact.com/dallas-fort-worth/keller-roanoke-northeast-fort-worth/business/2026/02/19/fedex-to-layoff-89-at-alliance-location-in-fort-worth/

New update. Some branches will start staying open until 2pm instead of noon beginning April 25th. They are sick of paying those “free” hours when you work a half day Saturday. Also going to help more branch employees to quit so they don’t have to pay severance

Has anyone successfully negotiated a severance package? Is it pretty much set in stone or is there a wiggle room?

If so, what are some things and steps which someone might take to negotiate for a better package?

If we were cut today do we still get our bonus?

Give high performing employees a severance because they’re paid too much. Hire a Danos contractor to do the same job with much less liability and position cost.

Win/win. Take the severance buddy

Any insight to how JE/severance will be communicated? I got the call this morning, but nothing in writing…

I know many people are scared of layoffs, but I'm so fed up with this place that I'd welcome a severance package. Yes, I know it's hard to find a job right now, but I don't even care. Show me the money and I'll happily walk out.

Well, I’m out the door. Fun!