#restructuring

I know this restructuring is really difficult, and I understand how stressful and uncertain things must feel right now. But at the end of the day, a company is still a company. Its priority is the business and the money, not necessarily the people. Whether STCB is performing well or not, or whether the Computational Team is doing a great job or struggling, it ultimately doesn’t change the fact that you need to think about your own future first. So, instead of worrying too much about what the company is going to do, start updating your résumé, interviewing with other companies, and preparing yourself to leave if the right opportunity comes along. There are many better companies out there. If you feel like you’re missing some skills, you can work on developing them before making a move, or you can move to another company first and continue building your skills there. Either way, the important thing is to create opportunities for yourself rather than waiting for the company to decide your future.

With so many executives leaving, it's hard not to wonder is Centene on its last legs, or is the company just going through a brutal restructuring?

Now we have a new CFO coming in from outside the healthcare industry. Will bringing in non-healthcare financial leadership turn the ship around, or will the steep learning curve just drive us further down?

Honest thoughts? Starting to get really worried about where we’re heading. :/

Our team just announced a restructure and shifted people around and not replacing a Director who jumped ship. Another sloppy decision from a mediocre leadership team. Sinking ship here in SLOD and all we focus on is RTO

I've watched restructures and personnel decisions systematically remove anyone who was intelligent, trustworthy, or actually cared about employees. The company has spent years making sure there's no one left who can lead effectively. And now we're surprised things are falling apart?

Hearing whispers of some restructuring of the branches in CA. Specifically the South LA branch becoming the main branch and OC and the Ventura branches being closed or turned into ghost warehouses. Anyone have any more info on that?

Has anyone heard about the new Medicaid Accounting Cash Team that’s supposedly being created? Looks like the team may be formed as part of the restructuring related to the VSP/ISP, with some, if not all, Accountant I and II positions on the Medicaid side potentially transitioning to the new team. Just wondering if anyone has heard more details or can confirm.

Seems like no one has any official word on what restructure will look like, how many can expect to be cut, when it may be announced vs when it will take effect. Any word from the “rumor mill?” Seems to be all we have. I’m a CC in a heavy Humana state.

• KPMG Australia is cutting nearly 400 jobs, affecting about 5% of its workforce, including 27 partners.
• Most job losses will fall within the firm's consulting and business services operations.
• The restructuring follows a whistleblower scandal involving allegations that confidential client information was misused by KPMG partners to help win new business.
• The controversy has damaged KPMG Australia's reputation and client trust and contributed to the loss of government contracts and increased regulatory scrutiny.
• KPMG Australia has also experienced a leadership shakeup, with senior executives departing while investigations into governance, ethics, and the whistleblower matter continue.
• Financial pressures are mounting: KPMG Australia's revenue reportedly fell around 1% in the financial year ending in June, while demand for some consulting and business-services roles weakened.
• KPMG plans to simplify its organizational structure, including changes to advisory and dealmaking operations, as part of a broader effort to rebuild the firm and improve efficiency.
• The firm says affected employees will receive practical and well-being support, but it has not ruled out further job cuts as internal and external reviews continue.
• The Australian cuts follow other major KPMG reductions, including roughly 400 US advisory jobs and hundreds of positions in the UK during the year.
• KPMG's restructuring reflects a broader global layoff trend, with companies across consulting and technology cutting staff because of restructuring, tougher business conditions, AI-driven changes, and—in KPMG Australia's case—the financial consequences of reputational damage.

Source:
https://www.youtube.com/watch?v=BmrGMoS5pBI

Heed my warning. To those in Audit Services, more layoffs and restructuring are coming.

Want to know why you were rewarded with gifts for getting audits done as quickly as possible last year? Want to know why you are conducting quick and easy testing under the guise of taking a "risk based approach"? Want to know why you were harassed (or dare I say threatened) to come in under hours and to falsify your time sheets if necessary? Want to know why they repeatedly told you that falsifying your time wouldn't come back to haunt you because no one is looking at utilization? Want to know why they moved several audits to an unheard of FOUR year cycle? It's not because they are trying to do the right thing. It's not because they are trying to protect our members. It's because leadership was told to make a case to lessen the amount of employees needed.

The newly announced operating model means there are still too many Audit Managers and staff. Trust me, they aren't done yet.

I'm yet to met a useful one.

Getting fired is now like a subscription service with multiple cancellation tiers.

“Layoff” if they’re feeling honest.

“Restructuring” if they’re feeling corporate.

“Performance management” if they want you to blame yourself.

“Voluntary separation” if they want you to fire yourself.

“Attrition” if they want to pretend nobody actually did anything.

“Role elimination” if they want to make it sound like your job died peacefully in its sleep.

“Strategic realignment” if they want you to believe your career simply took a wrong turn.

“Workforce optimization” if they want to imply the workforce was somehow the problem.

“Doing more with less” if they want to give you three jobs and one salary.

“Organizational simplification” if they want fewer people doing twice the work.

At this point, the only thing being optimized is the dictionary definition of unemployment.

They don’t need an HR department anymore.

They need a thesaurus with a severance budget.

The company laid off almost 50 employees due to "restructuring." Almost ALL of them were our warranty team. They want to offshore all of the jobs to maximize shareholder profit and minimize customer experience. Please do not buy from any VF company again.

The software company Qualtrics has initiated layoffs as part of a broader restructuring effort. This move is intended to facilitate a smoother integration following its recent acquisition. The company stated that the workforce reductions are a necessary step in this process. Specific details regarding the number of affected employees were not immediately available. This restructuring impacts operations globally.

Provo, Utah

https://www.sltrib.com/news/2026/08/22/qualtrics-layoffs-employees-utah

Quarter 4 looks extremely shaky now. Sales outlook dropping like a rock. Looks like the annual year end restructuring exercise is coming up again. Sit tight.

Lumileds is permanently closing its San Jose manufacturing facility. This action will result in the permanent termination of 24 employees. The closure is the second phase of a previously announced restructuring. These layoffs are tied to the transfer of manufacturing activities to Asia. The company's U.S. go-to-market operations will remain unaffected.

San Jose, California

https://inside.lighting/news/26-03/lumileds-san-jose-facility-set-close-layoffs-continue

TikTok has laid off 75 employees in Bellevue, Washington, primarily impacting its e-commerce division, TikTok Shop. These job reductions are part of a broader restructuring within the social media company. The affected workers were employed under the TT Commerce & Global Services banner, which operates under ByteDance. This move follows similar layoffs at TikTok's Nashville office two weeks prior. The company has been a significant employer in Bellevue since 2021, with its presence growing substantially after launching TikTok Shop in 2023.

Bellevue, Washington

https://www.seattletimes.com/business/technology/tiktok-lays-off-75-bellevue-workers-mostly-in-e-commerce-division/

Starbucks is laying off 224 employees in a final phase of its global restructuring. The affected roles include support positions and workers who declined relocation to Nashville. The company stated this is not a new round of cuts but the conclusion of a previously announced strategy. These changes impact coffeehouse construction and design teams. The move is part of a broader effort to streamline operations and reduce costs.

https://www.king5.com/article/news/local/seattle/starbucks-to-layoff-224-employees-workers-who-declined-nashville-move/281-679c2b25-2db1-4ac1-9754-ac3a9af5c32e

Apple has reportedly laid off an entire team focused on virtual reality development. This move comes as the company shifts its priorities within its spatial computing division. The restructuring suggests a temporary pause on the VR category, with a new focus on AI and smart glasses. While the VR team has been significantly reduced, work on future iterations of the Vision Pro and smart glasses is expected to continue. This indicates a strategic recalibration rather than a complete abandonment of the VR/AR space.

Cupertino, California

https://appleinsider.com/articles/26/08/20/layoffs-in-apples-vision-products-group-prove-slow-progress-in-spatial-computing

The mortgage sector is anticipating more layoffs and reduced hiring due to persistently high interest rates and compressed profit margins. Lenders who expanded their workforce early in the year are now reassessing their staffing levels as refinance hopes have faded. Increased efficiency from AI and complex product mixes also contribute to the need for leaner operations. Analysts suggest that consolidation may become a more common strategy for companies struggling with profitability. This trend follows significant workforce reductions seen since the market's post-pandemic peak.

https://www.housingwire.com/articles/mortgage-layoffs-expected-to-rise-as-rates-remain-high-margins-stay-thin/

Numerous companies across freight, distribution, and manufacturing are implementing significant workforce reductions. Over 7,000 jobs are affected by these recent announcements. Tyson Foods leads these cuts with over 3,000 positions eliminated due to facility closures and operational shifts. Wholesale distributor Essendant also warned of over 1,200 employee impacts as it seeks capital or a buyer. These layoffs are part of a larger trend of restructuring within transportation and production networks.

United States

https://www.freightwaves.com/news/freight-distress-report-more-than-7000-jobs-cut-in-new-wave-of-closures

Half the remaining US customer service was laid off across all brands due to "restructuring" with zero notice given. Those of us left are being trained on all brands.

Now that OxyChem has sold, it looks to me that we have an EVP with nothing to do. Where am I wrong?

In the new LP filing, it looks like capital is being restructured in a way that totally sc--ws over Class A LP holders.

It appears the new Class B has no guaranteed return, but will receive all variable profits.

It appears Class A retains the 7.5% guarenteed return, but will no longer receive any variable profits. 7.5% is all you get going forward.

I guess this is their way of trying to strongarm us into converting our Class A to Class B. What a way to reward loyalty and tenure.

TEBG is constantly restructuring. It feels like no one can make up their minds on how to function.
How long will the games continue? The morale can't get any lower than this.

The Indiana Historical Society has ended its sponsorship of the National History Day student contest. This decision follows recent layoffs of eleven employees. The organization claims these actions are part of a restructuring for long-term stability. The state previously provided significant financial support for the society. The termination of the student program leaves thousands of students without a contest.

Indianapolis, Indiana

https://www.wthitv.com/2026/07/30/indiana-historical-society-terminates-history-contest-sponsorship/

Winnebago Industries is consolidating its production facilities to optimize operations. This strategic move involves relocating some manufacturing processes to different sites within Indiana and Iowa. As a result, several facilities will be closed, leading to an unspecified number of employee layoffs. The company stated these changes aim to create a more agile and stronger enterprise for future growth. Despite the consolidation, Winnebago and Grand Design RV will continue to operate as distinct brands.

Middlebury, Indiana

https://www.truckpartsandservice.com/products/supplier-updates/article/15832623/winnebago-layoffs-rv-production-consolidation-strategy

Can anyone confirm if TPD may be completely dissolved and merged into VCG and GTS as part of the restructuring?

Some IT roles abandoned and new roles created . Operational efficiences cutting specific roles. Pinpoint cuts. Guessing more is coming

An Emmy-winning director at KENS5 has announced his departure after 40 years in television. He stated that his replacement was due to his parent company's adoption of AI and automation. This move is part of a broader restructuring within Tegna, the station's owner. Tegna operates numerous TV stations nationwide and has been implementing changes under its new CEO. The director's exit follows other recent job cuts and retirements at the San Antonio affiliate.

San Antonio, Texas

https://www.sacurrent.com/news/san-antonio-news/longtime-san-antonio-tv-news-director-says-hes-been-replaced-by-ai/

Two companies with operations in the Phoenix metropolitan area have announced substantial workforce reductions. A total of 354 positions are slated for elimination according to recent state filings. These layoffs impact Tendit Group and Republic National Distributing Company. Republic National Distributing Company is shedding 211 roles, while Tendit Group will cut 143 jobs. These actions are part of broader corporate restructuring and divestitures.

Phoenix, AZ

https://patch.com/arizona/phoenix/hundreds-layoffs-planned-2-companies-phoenix-warn-notices

Tulsa Public Schools board members unanimously voted against proposed reductions to special education staffing. The district had planned to eliminate nearly two dozen positions to address a significant budget deficit. Employees and advocates argued that such cuts would harm students and disrupt established relationships. Despite the rejection of these specific cuts, the district still faces substantial financial challenges. Further restructuring and cost-saving measures are anticipated in other departments.

Tulsa, Oklahoma

https://tulsaflyer.org/2026/05/02/schools-families/post/tulsa-public-schools-special-education-cuts-rejected/

The implication? $300M in restructuring is nowhere near enough. New restructuring plan headed your way stat!

https://timesofindia.indiatimes.com/technology/tech-news/oracle-layoffs-as-oracle-leadership-prepares-to-send-6am-layoff-email-on-september-1-company-asks-managers-to-give-a-list-of/articleshow/133235370.cms

ps remember that it's easier if you relax your butt-cheeks.

Significant layoffs appear to be coming in ICB London in September as part of a major restructuring. There is considerable duplication across teams within JPM Personal Investing, Chase, and Accelerator.

Richard Crozier and Mohamed Noah appear to be competing for survival, with only one likely to remain. Mark O’Donovan is also reportedly at risk. With Marianne being pushed out, he may no longer have the protection he previously benefited from, and Troy is expected to take a hard line on the cuts.

Essendant has announced an additional 103 layoffs in California, bringing the total confirmed workforce reductions to 1,278 across six states. These cuts are part of a larger restructuring that includes facility closures and the exploration of potential sales or new capital to prevent liquidation. The latest actions affect distribution centers in Sacramento and Perris, with layoffs scheduled for October 3rd. This expansion of job cuts follows Essendant's strategic shift away from traditional office supplies towards janitorial, sanitation, foodservice, and technology products. The company's future remains uncertain as it navigates these significant operational changes.

California

https://distributionstrategy.com/2026/08/essendant-layoffs-reach-1278-as-restructuring-expands-to-california/

If I were writing the Centene story, I’d assume the operating model is changing and spend my time figuring out what they’re replacing it with.

Look at everything together: ACA pressure, Medicaid changes, state-plan exits and losses, Stars, leadership churn, VSPs, ISPs, whole functions disappearing, bigger roles for the people who remain, and a lot of money going to outside partners. That’s not just a headcount story. They’re deciding what they still want to own, what gets centralized, what gets automated, and what gets handed off to somebody else.

The questions for Centene:

For every dollar Centene expects to remove from employee expense through Enterprise Optimization, how much new spending is being committed to consultants, technology vendors, managed services and offshore providers?

And this one.

For every capability Centene removes internally, who owns that capability afterward?

Centene has always sold the idea that it has national scale but still understands the states and communities it operates in. You can simplify a lot of that. You can also simplify yourself right out of the knowledge and accountability that made the model work.

So to me, the story isn’t that Centene is changing. Obviously it is. The story is what it’s becoming, what it still knows how to do itself when this is over, and whether all of this is actually cheaper once you count what gets paid to everyone outside the company. And if that’s the case, what are we the taxpayers doing with our tax money vs. how we might be able to reorg the broken system.

For the reporters… specifically, what are you thinking of writing about?

If the workforce collectively refuses to sign the promissory notes or buy into the new Class B LP structure, the firm's engineered restructuring playbook faces a critical roadblock. Management cannot easily absorb the capital shortfall, leading to a predictable sequence of operational and financial outcomes.

1. The Buyout Capital Shortfall

The entire structural transition relies on employee debt to fund the exit package for the retiring founders and legacy General Partners.

• Frozen Payouts: If associates refuse the loans, the capital pool remains empty. The legacy partners cannot convert their illiquid paper wealth into upfront cash.
• Failed Restructuring: The firm cannot execute the internal leveraged transition as planned, leaving the aging ownership stuck holding the risk of a declining asset.

1. A Fast-Tracked Outside Private Equity Fire Sale

Because the owners are determined to achieve liquidity and exit the asset, a failure to sell the firm internally will trigger an immediate pivot to outside buyers.

• Abandoning the Narrative: The "employee-owned" corporate narrative will be completely discarded over a weekend.
• The PE Handover: Management will quietly initiate an aggressive fire sale to a predatory Private Equity (PE) firm or a direct corporate competitor. The old partners will accept a lower valuation just to get cash, handing the remaining skeleton crew over to an outside management team focused strictly on radical cost cutting.

1. The RTO Surveillance State Backfires

The harsh 4-day hourly tracking and the removal of family flexibility were designed to cause "controlled attrition" to thin out payroll liabilities before the transaction.

• The Talent Drain Acceleration: If employees reject the equity offering, the hostile environment loses its only theoretical financial incentive.
• Operational Collapse: High-performing and specialized workers will exit rapidly, leaving the firm as an hollowed-out operational shell that can no longer sustain its client base or defend its valuation to lenders.

1. Technical Default on Bank Covenants

The commercial banks funding the baseline operational loans operate under strict financial covenants tied to firm revenue and margin stability.

• Margin Compression: If productivity collapses because the workforce is disaffected and shrinking, the firm will miss its near-term financial targets.
• Bank Foreclosure: Missing these metrics triggers a technical default. The lending banks retain the legal right to step in, seize corporate assets, remove the Managing Partner, and liquidate the firm's intellectual property to recoup their cash.

1. Increased Internal Hostility and Cash Freezes

In a final, desperate attempt to force profitability metrics into alignment before the timeline expires, the lame-duck Managing Partner will shift from incentivization to absolute financial pressure.

• Total Cash Compensation Freezes: Annual cash bonuses will be entirely eliminated, and baseline salaries will be frozen indefinitely under the guise of "restructuring headwinds."
• Data-Driven Layoffs: A third or fourth round of aggressive terminations will be executed, using the 4-day hourly tracking logs and AI adoption metrics as a paper trail to eliminate headcount without paying severance.

This article confirms what a lot of posters have been saying. IBM Consulting needs a desperate restructuring

https://stocktwits.com/news-articles/markets/equity/ibm-openai-partnership-thousands-experts-engineers-ceo-arvind-krishna-letter/cZoq7fLRJho

Aura Biosciences is laying off 20% of its staff to concentrate on a single experimental eye cancer treatment. This strategic shift aims to reduce operating costs and extend the company's cash runway into 2029. The company is deprioritizing its bladder cancer program to focus resources on its lead dr-g candidate for choroidal melanoma. This restructuring includes leadership changes and follows a recent increase in authorized common stock. These layoffs are part of a broader trend of workforce reductions within the Massachusetts biotech sector.

Boston, Massachusetts

https://hoodline.com/2026/08/cambridge-eye-cancer-biotech-aura-cuts-20-of-staff-to-fund-late-stage-trial/

Restructure already happening and people have been let go across multiple depts

No announcements of layoffs during earnings call. Maybe Chuck post some internally, please share here. Any other LR or reorg news?