#cuts

https://www.thejournal.ie/paypal-ireland-layoffs-7147657-Aug2026/

The bloodbath has begun. Looks to be 15-20% RIF. Announcements for US to be rolled out by noon. India already announced. My team impacted 30%. Good luck all. This one is cutting to the bone.

I keep seeing people say that 10/8 is a confirmed layoff date and that folks would get a 30 day notification if they’re impacted. Isn’t it a 60 day requirement?

Nike built the LeBron James Innovation Center to look like the future. And inside, they’ve apparently figured out how to manufacture the past.

The Innovation team has a pretty simple process: Start with a decent idea. Overthink it. Add a bunch of stakeholders. Rename it three times. Build a ridiculous prototype.

Make a very cool video. Put together a 75-slide deck explaining why this is going to change sport forever.

Then, after everyone has had their moment, dump it on Inline. CFO: Just Flush It. 🚽👟

Bell labs head (G.P.) announced that there will have 40% reduction in the whole Bell Labs, and only 6 research centres will be kept. He said these numbers are accidentally sent out to all Bell Labs researcher in a ppt, and he refused to make any explanation on these numbers. Once people asking about the discontinued Network Systems Research lab, no comments and no responsibilities but still blablabla on AI-based research. One of the most chaotic All hands in Bell Labs.

The head of Bell Labs (G.P.) announced that the lab would lay off 40% of its staff, retaining only six research centers. He claimed these figures were mistakenly sent to all Bell Labs researchers in a PowerPoint presentation and refused to offer any explanation. When asked about the disbanded Network Systems Research Lab, he neither responded directly nor took any responsibility, yet continued to discuss how AI could be used research blablabla.
This was the most chaotic all hands meeting in Bell Labs' history.

Sadly but Marcus Weldon is correct on what the new TAO is doing:
https://www.lightreading.com/business-transformation/nokia-s-former-cto-rages-at-shocking-bell-labs-cuts

• Long Beach faces a major budget shortfall: The proposed FY2027 budget seeks to close a $58.2 million deficit by eliminating 483 positions—263 filled and 220 vacant—along with cuts across city departments and services.

• Top officials are still scheduled for raises: Mayor Rex Richardson’s salary would rise by $5,763 to $198,086, City Manager Tom Modica’s by $11,487 (3.01%), and City Council members’ salaries by about $1,829 each. Many increases are mandated by the City Charter, contracts, or labor agreements.

• Department heads are getting raises while their departments lose positions: For example, the Fire Chief is budgeted for a $7,392 raise while Fire faces reductions equivalent to about 33 positions, including the proposed elimination of Fire Engine 14. Library, HR, emergency communications, and technology directors also have higher salaries budgeted alongside staffing cuts.

• The mayor and city manager say they’ll donate their increases: Richardson says he will donate his $5,763 increase to libraries and community organizations, while Modica says he is donating his entire $11,487 increase; Modica already donates money from previous raises toward homelessness efforts.

• The raises have become a “shared sacrifice” issue: NBC4 asked all nine councilmembers whether they would decline, delay, or donate their raises. One councilmember said the City Charter prevents simply declining the salary increase, while seven did not respond by the deadline. The mayor’s and city manager’s donations are tiny relative to the $58.2 million deficit, but the controversy centers on whether senior officials should share in the sacrifices imposed by layoffs and service cuts.

https://www.nbclosangeles.com/news/local/long-beach-department-heads-raises-amid-cuts-layoffs/3935410/

Do we expect cuts, whether as RA or PIP, to take effect (i.e. victim out of the company) at the end of September, before the start of 4Q2026?
If so, when would the people affected likely find out?

The operator of the celebrity-backed Goodtime Hotel will stop managing the South Beach property by the end of May. This decision is expected to result in the permanent elimination of the entire on-site workforce. Highgate Hotels plans to cease operations at the hotel and its Strawberry Moon venue. The layoffs will affect 114 employees who are not unionized and lack bumping rights. The future of the hotel itself remains uncertain, with potential for a new management company.

Miami Beach, Florida

https://www.latintimes.com/famous-miami-beach-hotel-connected-pharell-williams-bad-bunny-prepares-fire-all-its-work-force-596324

Alert went off this morning. Good times for another executive. From publicly available information…

Chris Koster, Centene’s General Counsel:

2023: $4.84M
2024: $5.06M
2025: $6.51M

On August 18, 2026, Koster sold 47,603 Centene shares for roughly $3.11 million. $16.4M in three years. Cha-Ching sir! Here are the stock trades:

https://www.nasdaq.com/market-activity/insiders/koster-christopher-1108982

Not bad for the top lawyer at a company whose business is largely administering taxpayer-funded healthcare.

Koster went from county prosecutor → Missouri Senator → Missouri Attorney General → Centene executive.

So basically, decades in Missouri government followed by millions a year at one of the country’s largest Medicaid contractors.

At least someone figured out how to make Medicaid profitable. But sure, keep cutting the people doing the actual work. That ought to fix the margins. And congrats, Chris. Don’t spend it all in one place.

Am I naive to think we're now safe for a while?

My alert went off this morning. Good times for another executive. From publicly available information…

Chris Koster, Centene’s General Counsel:

2023: $4.84M
2024: $5.06M
2025: $6.51M

On August 18, 2026, Koster sold 47,603 Centene shares for roughly $3.11 million. $16.4M in three years. Cha-Ching sir! Here are the stock trades:

https://www.nasdaq.com/market-activity/insiders/koster-christopher-1108982

Not bad for the top lawyer at a company whose business is largely administering taxpayer-funded healthcare.

Koster went from county prosecutor → Missouri Senator → Missouri Attorney General → Centene executive.

So basically, decades in Missouri government followed by millions a year at one of the country’s largest Medicaid contractors.

At least someone figured out how to make Medicaid profitable. But sure, keep cutting the people doing the actual work. That ought to fix the margins. And congrats, Chris. Don’t spend it all in one place.

They did layoffs this week. Lots in India. So far I have heard of a few in GHQ

Word down at the watering hole is that CFOs fixin' mandate to take a mighty sharp kn--e to everything, and he ain't fixing to waste any time doing it, neither.

Executives

• dropped the 401k match
• froze salaries for non hipos
• dropped charitable contribution match
• dropped education reimbursement
• doubled PIP percentage
• increased insurance premiums while reducing insurance quality
• conducted layoffs with the lowest severance possible
  All while making zero changes to the executive bonus and compensation program, in fact giving themselves even larger bonuses.

Remember when people said being close to the wellhead was a safe place. How is that working out in Guyana these days? We no longer want to operate anything.

I know we dont have many folks from the stores on this forum, but wanted to share this as well. These folks are working as hard as us and they are often impacted by cuts more than we are. Anyhow, I am sorry they have to go thru this and hope all laid off folks find better jobs soon.

Unclear how many

There are just too many people between the work and the results. Managers of managers, directors of nothing, and their only real skill is creating more meetings and more politics. They think they're helping, but they're really just slowing everything down. Get rid of them in the next round of cuts and we'll all be better off.

When you never know if your job will exist next quarter, you can't focus on anything but survival.

For your sanity, just assume every department will see cuts. You can either wait and see or take control and start looking now. I know that sounds harsh, but it's the reality.

Has anyone heard of any layoffs ahead or are things still quiet?

Any grumblings about more cuts or people leaving?

Any more coming this way?

What has Gunjan done since making cries about inequality, racism, not having a seat at the table, and how the C suite is full of the good old boys club to get to where she is? Nothing but major cuts, more unqualified offshore hiring, bad business practices and decisions, achieved nothing meaningful, and worst performance then her previous predecessors. It is sad to watch the downfall of US Bank.

If you think the layoffs in 2026 are bad, wait until the bloodbath coming in 2027.

When will all the Verizon segments get their own prom like Value? We are all the best in the business and want to celebrate how we play to win and drastically cut costs. It will be expensive to buy prom clothes with today’s prices, but I’ll save some money by not wearing socks. Let’s go team! One Verizon!

Every time they need to hit a number, they cut people. It's their only move.

Everything is working out well for us, and this leadership has never been the one to lay people off just for the sake of layoffs. Please, correct me if I'm wrong, but I'm done stressing over cuts, at least for now.

Are we done with cuts for now or not?

Do we know anything or are we shockingly safe for the foreseeable future?

150 service reps got fired nationwide on Friday, August 14.

I just heard that some RVP’S were on the chopping block, about to be canned, or were already canned. What’s the skinny on it?

Didn't we already go thru this earlier this year? Were not enough laid off? So many teams are so thin already. How are you expected to support clients and give them excellent service if we are already so short staffed as it is? And supposedly this company wants to invest for the long term so how do you do that with more cuts? Clients are not going to be happy if there's not enough people around to make these products better and to serve them with quality and speed. Make it make sense....

That's all this latest rumor is about. You buy a company, you get a chance to get rid of redundant positions, and somehow the number of such positions is always huge. As if not all of them are redundant, but were somehow marked as such because, why not use the opportunity to the max?

It'd be nice if they offered that option before involuntary cuts.

Is this true?

After reading so many posts on here about rankings I have realized that even though the rankings are a ridiculous practice that the company still needs them because we have so many people that don’t do anything of value for the company and they have to do a rankings system as justification for having so many pointless positions.
Also, the posts about losing execs makes perfect sense as a business to reduce waste especially at that level. Why do we have so many people in Houston when we can’t get enough people to work in the Permian/Delware? Use the extra money from reduced Houston employees to bring in quality employees where the company needs them.