#costcutting

I'm not getting all those discussions whether it's now over, the wfrs. You don't listen or what?

We are only two thirds through the costs savings program. One third is still ahead of us. Source: CFO, Q3 investors call.

Do you think one third can be achieved by forcing us to bring our own toilet paper to work?

Profit growth of 10 percent is only attributable to the wfrs. Source: same. Yes, that's the way to huge profits! What else?

P/E ratio is between one third and one half of industry peers. OT is profitable. Normally investors must be queuing up. And still no one wants to buy? Haha, "our investors are patient, they give us time" (source: was that Ayman in the last show?)

Our most important asset is people. Important is attracting good talent and keeping good talent. Source: all hands town calls, those clowns with E- and C- titles. Who of course kick the best people out. Do you really believe them? See a doctor.

Trust no one but yourself. If you do not have financial buffer, start building it now. Start looking for alternatives. Many postings here can be made by those who want you go by yourself, to save on severance. You do not have to, but just make sure you are prepared.

What is the point of keeping SVP+ ICs in high cost locations while full teams are being laid off ?

What is their exact contribution?

iHeartMedia has initiated widespread layoffs. These cuts impact its Columbus, Ohio, radio stations. Longtime hosts Chris Davis and Joe Kelly are departing. The company plans a new $50 million cost savings program. iHeartMedia also aims to scale its technology capabilities.

Columbus, Ohio

https://www.dispatch.com/story/entertainment/2026/07/01/columbus-radio-stations-iheartmedia-staff-layoffs/90755892007/

I know this has been discussed on this board already, but I find it shocking that Verizon is stopping so low as too getting excited about scrapping metal. The plan is that Verizon will sell some of the Central Offices and then "scrap" metal harvested from the CO's. My SD is gloating that this will be a good revenue source for Verizon. Are we really getting that desperate?

I call bullsh-t. This is all about money and nothing else. Why else would they get rid of one of our best performers with impeccable record and decades of experience?

I hear A layoff is approaching at Phoenix, AZ Peak location.
They are cutting costs with tenured employees and hiring
unlicensed people to train with no experience.

British American Tobacco is undertaking a major workforce restructuring. Approximately 5,500 positions will be eliminated, and 3,500 roles moved to third-party providers. The company aims to reduce costs and improve profitability through AI and outsourcing. This overhaul responds to declining traditional tobacco sales and increasing regulations. BAT expects to generate £600 million in annual savings by 2028.

https://anz.peoplemattersglobal.com/news/strategic-hr/ai-driven-layoff-one-of-the-worlds-biggest-cigarette-makers-is-cutting-5500-jobs-50587

Artificial intelligence is significantly reducing animation production costs. Filmmakers report cost cuts of up to 90% using AI tools. This technology replaces entire staffing layers in production workflows. Los Angeles County's motion picture sector lost 6,700 jobs through May 2026. Studios view AI efficiency as a structural necessity for the industry.

https://finance.yahoo.com/technology/ai/articles/ai-cuts-animation-costs-90-210000466.html

International Paper announced plans to close four facilities in the United States. These closures will affect 330 employees across four states. The company will shut down plants in Illinois, California, and New Jersey. It will also cease preprint operations at a Kentucky facility. These actions are part of a strategic effort to optimize its North American network.

https://www.packagingdive.com/news/international-paper-four-closures-layoffs-2026-fiber-production/823945/

More cost cutting planned. As a result expect no raises and no CL promotions again this year. Meanwhile as inflation eats away at your pay, the buying power of your compensation goes down further.

Folks, there is no CPM this time for cost cutting

https://www.lightreading.com/network-platforms/bt-unloads-loss-making-international-unit-in-verizon-tie-up

Do we have money for this ?

ExxonMobil is stacked with unnecessary layers of management, and too many people hide in those layers instead of doing real work. Flattening the organization would cut costs, eliminate pointless hierarchy, and force people to actually earn their salaries. A leaner structure would improve accountability, reduce inefficiency, and stop the cycle of managers managing other managers who contribute nothing.

https://americanbazaaronline.com/2026/06/10/dell-sec-filing-signals-more-workforce-cuts-as-severance-costs-climb-482584/

iHeartMedia initiated layoffs affecting radio stations nationwide. The company is restructuring its radio programming and building new tech capabilities. This move aims for $50 million in annualized cost savings. Several Lehigh Valley radio personalities were among those let go. The company did not disclose the exact number of affected employees.

Lehigh Valley, Pennsylvania

https://www.mcall.com/2026/06/25/lehigh-valley-radio-personalities-laid-off-as-iheartmedia-downsizes/

iHeartMedia's latest round of layoffs has reached Baltimore. WPOC 93.1 midday host Bob Delmont exited the company after 27 years. Delmont also hosted iHeart's nationally syndicated Classic Country format. His departure is part of a companywide restructuring to reduce costs. iHeartMedia plans significant cost savings this year and next.

Baltimore, Maryland

https://dcrtv.com/bob-delmont-exits-wpoc-as-iheart-layoffs-reach-baltimore/

Kitsap County faces a projected $9.8 million budget shortfall in 2027. Expenses are increasing faster than revenue, driven by rising labor and public safety costs. County officials are considering two main options to address the deficit. These options include a sales tax increase or eliminating 45 to 60 staff positions. Commissioners will adopt a final budget in December, with changes effective January 2027.

Port Orchard, Washington

https://www.kitsapdailynews.com/2026/06/25/kitsap-considering-tax-increase-staff-layoffs-to-cut-budget-deficit/

iHeartMedia is conducting layoffs as part of a restructuring plan. Local radio personalities in the Quad Cities were affected. Hosts from stations like WLLR and Big 106.5 lost their jobs. The company aims for $50 million in cost savings. These changes will lead to more national programming.

Davenport, Iowa

https://www.wqad.com/article/news/local/iheart-layoffs-wllr-big1065-local-talent-lose-jobs/526-2e247803-33d0-41e0-922c-0bc6f937bd22

Putting emotions aside and trying to be objective, it seems to me that Danfonso will be moderately successful. They’re just financial engineering their way to a slightly higher free cash flow. Layoffs, outsourcing to India, and cutting costs aren’t novel or revolutionary ideas. They haven’t come up with any new strategies to open up new markets or increase revenue so they’re relying on the tired old playbook. The hype about AI is a smokescreen. It’ll get implemented to some extent but it’s not going to increase revenue, or unleash synergies or cut costs drastically.

It stinks for the employees and will continue to do so. The company will become leaner and slightly more profitable and the executives will exit after getting a big payday.

Do they justify sending 1000 Advisors to Nashville along with Regional Support Clowns, “National” sales people and Market Leaders who can’t do their job? Yet they are letting people go to save money. That Nashville soirée cost at least $5-$10 million.

Have you guys looked at his history past where he’s worked? Do a quick ChatGPT/Gemini search on his roles at his previous corps. People talking about PE in the other thread. No need. This guy will do the same they’d do, without selling out. His specialty is corporate restructuring and cost efficiency. Get ready everyone. They didn’t bring in an outsider for nothing. I bet you MF was unwilling to do what EH and the board wants. I think they see that EH approval rating is declining, so bring in someone else to be the bad guy. Homeboy doesn’t care. He’s probably on his way out of his career.

Why does Optum have so many Directors and VP’s who don’t have direct reports? If I were trying to trim the fat, that is the first question I would ask.

Lucid Group plans to reduce its workforce by 18%. This reduction includes full-time employees, contractors, and hourly production workers. The company aims to streamline its structure and optimize operating expenses. Lucid also eliminated a production shift and the Chief Operating Officer position. These changes are expected to result in $158 million in annualized cost savings.

Newark, California

https://www.kron4.com/news/technology-ai/lucid-layoffs-bay-area-ev-maker-cuts-18-of-workforce/

let’s save money. need a raise and getting rid of one of Verizon’s weakest departments would help.

I've heard from employees there of pending Layoffs at Schwab in Phoenix, AZ. Especially for the tenured employees to hire new people much less cost.

IBM and Deloitte have closed the deal on Juneteenth day to takeover VZ IT. It would be a Centralized IT org to deliver the business requirements using Claude Code; hence you would see that your Gitlab repo has 1000+ developer access now(Go and check it out). VZ will do one more wave of RIF to reach the number of agreed workforce for rebadging and retain a small % in the IT.

Don't they usually close some stores around this time of the year? Any guesses which locations will be hit?

Every projects I’ve worked on had Manager/IC ratio > 2:1. The most recent one was 6:1. Does the MC realize they can cut the managers by 1/2 or 2/3 to achieve greater cost savings?

They're moving away from layoffs and toward firings. I know several people let go for ridiculous reasons. It's getting worse.

I bet the corporation is going full on AI where UR and Care Coordination Nurses will be replaced. Instead of paying $70,000 + benefits to nurses. It is cheaper to use AI that work 24/7, no sick time, no PTO, no health benefits.
I can tell you l have seen AI approve claims and misread the clinical criteria that should have been denied. It will actually end up costing the corpration more money loss in the long run.
I see it on a daily basis.

With the VSP deadlines approaching, it’s obvious headcount is getting slashed. I'm also thinking about how this margin recovery squeeze is going to butcher our 2027 benefits. Any visibility on the 2027 plan designs? Specifically, is the mandatory ICHRA rollout expanding to more states for 2027? They already forced Indiana staff off traditional group plans and onto individual marketplace stipends. Shifting more states to ICHRA seems like the ultimate corporate cost cutting move to completely offload insurance risk onto us. What state is next? More importantly, when will employees be told?
Our employee premiums jump every year while coverage gets gutted. It's the classic Centene irony—working for a healthcare giant with health benefits that are noticeably worse than our peers.
In the past, they took away bonuses and gave us tiny raises that were immediately eaten up by healthcare premium increases. Anyone have eyes on what the out-of-pocket maximums or wellness program changes look like for next year? If they change the plan designs any further, staying through this restructuring might not even be financially worth it.

AT&T is reportedly conducting new layoffs across multiple departments. This follows similar workforce reductions by T-Mobile and Verizon. Jennifer Biry is replacing Pascal Desroches as the company's CFO. The company seeks to become a high-performance networking firm. Layoffs are attributed to AI integration and cost reduction efforts.

https://www.phonearena.com/news/AT-T-reportedly-does-what-T-Mobile-and-Verizon-received-flak-for_id181220

JetBlue Airways is closing key operations at Newark Liberty International Airport and LaGuardia Airport. This decision aims to reduce costs for the airline. JetBlue will shift its focus to expanding services at Fort Lauderdale-Hollywood International Airport in Florida. The airline plans to significantly increase daily flights from Fort Lauderdale. JetBlue has stated that no staff layoffs are planned due to these changes.

New York, New York

https://www.financialexpress.com/world-news/us-news/jetblue-airways-shuts-down-key-operations-at-2-major-us-airports-will-staff-layoffs-follow/4270875/lite/

Since Medtronic loves saving money I have an idea. Fire the useless Sr VPs and VPs and find replacements in Colombia. I am sure that will work our great. It would save millions upon millions of dollars.

Tara should go first.

Norco re-org on the way after $500mm in potential value found by McKinsey. So much for "we can't cut and cope our way to profitability..."

We need to be using more AI to trim cost here at T. We are going backwards if we don’t.

Feels like Centene has been trying to outsource a lot of work lately. Does anyone know if that actively happening?

It appears Citi is only cost cutting and scaling back operations. They can’t grow and are not innovative, so the only option is to keep cutting and reduce the bottom line.

It's amusing reading all this speculation when we all know deep down that nothing will change. The same thing that always happens will happen again. We'll see more layoffs, more outsourcing, more "do more with less" rhetoric, and more of the same for employees. Nobody gives a damn about us or improving our situation, least of all any CEO.

I’ve been in enough high-level meetings lately that I can’t shake an uncomfortable feeling. I’m not saying the company is doomed. I’m not saying tomorrow is the end. But I am surprised more people aren’t talking about some of the warning signs. When every conversation becomes about cost cutting, reorganizations, efficiencies, and “doing more with less” while long-term investment, innovation, and employee confidence take a back seat… it’s hard not to wonder where this is headed. Maybe leadership has a bigger plan that isn’t obvious yet. I hope that’s the case. But sometimes companies don’t collapse all at once. They slowly drift there while everyone convinces themselves the next quarter will fix everything. I could be wrong, and I genuinely hope I am. But if people in the room are uneasy, perhaps it’s time to start having honest conversations instead of pretending everything is business as usual.