Rumors have been going around for months that layoffs we’re happening in February and sure enough, got the email after hours from my manager’s manager of a meeting first thing tomorrow morning.
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Layoff coming in April? Does anyone know or can confirm this and when is it coming or impacting??
@4kp It was over 300 and they are hiring for a lot of the same jobs they laid off
easily 200 were impacted in the last round of lay-off.
@35c It quite literally could be the most TONE DEAF org. out there, that I have ever worked for. There are good people there...I worked for and with some of them. But that leadership line is atrocious period. Layoff 3% or whatever of your workforce 2 weeks or so ago and now if the reports here are true and more execs got promoted...awful.
If the April rumor is true that has to be making way for Commonwealth people to come over, right? That is another piece of info circulating that the reductions in people had to come from the LPL side in the commonwealth acquistion...not sure 100% but I trust the person who mentioned that to me.
Wow! Just wow! Layoffs on February 12. Apparently more coming in April. Just read some executives got promoted. I hope someone from my former company reads this and realizes that this is NOT “ONE TEAM ONE MISSION”! Leaders making these decisions should’ve ashamed of themselves.
You almost have to admire the lack of **s senior leadership has been on lately. This company is just one big country club for them.
Oh man, huge layoffs impacted important staff that does the work but announce senior exec promotions today? Guess you have to pay for these promotions somehow? what a joke
Just start something on discord
@28s, Nice try, and who’s gonna verify you’re really just a regular employee and not HR/legal? Buzz off.
be careful with responding to that email address. could be phishing.
@1d3 Thank you for the encouragement! I am impacted too. I would like to set up a confidential and supportive community for coworkers that were laid off this round and prior rounds (sad). If you want to connect, please email goodbyelpl2026@gmail.com. I will verify you are not HR/legal, and we can set up a community. I can set up a Slack channel to see how we can navigate the situation and provide networking, emotional support, and others.
@tt my spidey senses told me it was coming. The writing was on the wall as I had the same experience. Strong performance for 4 years and suddenly it was "partially meets". I submitted my rebuttal to the review the night before they released me (with that same lame script from HR). Since Steinmeier hit the scene as the new CEO - morale has been in the toilet with 3 acquisitions and 4 major layoffs. It's a blessing in disguise - burnout is real. On to something more fulfilling. Best of luck to all who were affected.
I have commented last week that I got affected as part of layoffs. I just want to say to all my fellow colleagues who got laid off - we don't deserve the disrespect we faced, but hey, please breathe!! Every other weekends we spent over the releases, every single day filled with chasing deadlines, every unnecessary metrics we were trying to calculate just for higher ups reviews(who have no idea in the he-l what was actually going on in the project, how burnt out their employees are, how underpaid their employees are) we are now free. We can finally breathe. I wakeup sometimes worried that I might be late for standup. I have flashes of me working hard to meet the deadlines in my dreams. I have fallen behind in my family life, in my health, in my mental wellbeing - all for "one team, one mission". Now I am not sure what life has in store for me. but I am sure about one thing, if this layoff didn't happen, it would have affected my health in irreparable way. I am now reflecting on how to get my "life" back together. World is changing, AI is making everyone go crazy. Every one's unsure of their future. But is it worth our wellbeing? I don't think so. I think its the time we follow our passion, whatever it may be. I wish you all get through this cloud of mixed feelings of disrespect, embarrassment, betrayal and look at the big picture. This door closes for us and many more best possibilities are awaiting for all of us. May God bless us all.
@18j - these are the February 12 layoffs. WARN notice requires 60 days notice. Sounds like everyone was provided at least 60 days of severance, so the layoff date in the WARN notice can be pushed out 2 months.
🚨 LAYOFF ALERT - California 🇺🇸
LPL Financial LLC will lay off 72 employees on April 17, 2026 at its facility located at 4707 Executive Drive, San Diego, CA as indicated in a WARN notice.
Anyone seen this?
Reading these and it's just crazy to me that they run the business this way. When I was there I saw exactly one EVP do any work to form a strategy, etc. Most just sit and drop work bombs on their overworked staff and just expect you to deal with it. My direct leader and my team were great as were a few of my business partners. Many others were just rude, crude, unprofessional, etc. I keep seeing pics on linkedin about extended leadership team meetings (the week before the layoff) and of course you see the commercial...WHAT IF YOU COULD actually run your business the right way and give people stability...na why would we do that? We need to keep paying for the EVP and up $'s and meet that ridic cost to serve target...whatever glad I am no longer there
Did the at least pay your bonus?
It’s su-ks to work for a company that undervalues their employees so much that they have to layoff people just because their stock takes a dip. “What If” was their new thing before I got laid off. How about what if you didn’t lay off your employees.
I wonder if they’re going to change the slogan “One Team One Mission”? Since they’re doing a bunch of layoffs. Doesn’t seem like one team one mission to me. I know. I worked there for 17 years and got laid off in august of last year.
@tt yes, I was completely blindsided. They have no documentation to support that review. Not a word to me about performance in 1:1s leading up to my review. If not illegal, it’s highly unethical, but not surprising with the way things are run there.
Anyone else get a partially meets in their YE review? After years of strong performance I was blindsided by a partially meets from my manager (relatively new manager to LPL btw) and had not yet acknowledged. I was trying to figure out next steps on how to respond when I got the news on Thursday. I should have saw it coming.
Ever since the new CEO Steinmeir was promoted and started talking about "a great employee experience", things have been awful. Multiple rounds of layoffs, a new rating system that focuses on feelings over results, opening a new center in India where they can replace Americans with cheap foreign labor, strict RTO requirements, the facilities have started crumbling from neglect, and an increasingly top-heavy culture full of external hires vs promotions from within. To say nothing of the upcoming summer 18-hour days that will eb demanded again in order to deliver the most recent acquisitions contractual terms (if you went through the Prudential ack, you know).
AI and the current job market gives employees no leverage, and leadership knows it, and is squeezing as hard as they can.
As a manager at lpl, 99% of the time, you won’t know that your staff is getting cut. I found out only after higher ups & HR concluded their meetings.
Laid off in Surveillance. Pretty sure there were at least 4 total in Surveillance. No warning. Completely unemotional. Skip-skip worked while HR read the script. Said it was my last day. Meeting ended - immediate loss of access to my machine. Not even 2 minutes to reach out to my manager. Wow. I felt so disrespected and untrustworthy. It was hard to be upset about losing my job when it was so emotionless and visible "I'm bored" by upper management.
@ge Paid as an employee for an additional 3 weeks (which also makes the health insurance expire at the end of March instead of at the end of Feb), then 12 weeks of severance in one big payout.
@j4 if under 500 they do not have to report.
Laid off as well in the Infra & Ops space. I'm assuming to make space for staff from most recent acquisition.
Friend (an LPL advisor) received an email that they are also transitioning from their fully staffed in-house insurance agency to another. Firm Simplicity.Group affective May.it states you should expect to work with May if the same people through the transition so wondering if this round of layoffs includes folks from insurance associates or May will be the next round. Anyone have any insight on this or if any were let go from insurance associates?
@hn was anyone in ORM laid off
How is anyone surprised? 4 acquisitions in the past year- ppl gonna be getting chopped for years to come.
It says over 300 employees were let go. Does anyone know why the WARN act wasn’t triggered?
@OP seems like operations was hit the hardest. Operational Risk Management is no longer a sub-department at lpl
Does anyone know how many people were affected? I was laid off too. Emotionless experience from my manager.
@ha not odd at all. This firm averages a layoff every 6-9 months; some just aren’t as big as yesterday or the one from June. It’s just how they operate
Compliance and Risk were affected. My team lost our manager and two team members. We were completely blindsided
I guess I did myself a solid cause I quit today. Didnt know about any layoffs. I was on FMLA and wont allow myself to be controlled by any company. My mental and family is more important. Its chicken sh-t to no be human about letting those people go. I wish the best for ya'll. Glad to have worked with some good people. Corporate world is just a trap. Ya'll get a skill be your own boss.
Was let go in July and rehired within a month. We were Told not to disclose severance but I can confirm they show you how many ppl ages and departments were impacted. I am grateful that I was rehired within a month before severance ran out. I can also confirm 33 ppl in my new department was impacted. I’m concerned as well. They say it’s to re org and etc but it’s odd to have firm wide lay offs 6 months apart
I feel for everyone that was impacted...new a few of those folks...I luckily got out right before this (do not know if I would have been cut or not)...but this is starting to be a theme with them...every 6 or so months it seems? Not a great way to instill good culture or run a business...
@ge if you just joined and would be impacted, not much but also depends on your level. 2 weeks per year is what I have heard with specific roles having a minimum and definitely a max. So some folks that were 15 years+ were capped at 26 weeks. Some other bullsh-t they pull is they will say you get 16 weeks severance but your final date is in a month. They will count those 4 weeks as severance.
I hate to ask but I just joined the company and this has sparked a lot of concern. What is the severance like?