#costcutting

Verizon announced new layoffs affecting several hundred U.S. employees. These cuts follow a larger reduction of 13,000 roles less than six months ago. The company aims to achieve $5 billion in operating expense cuts by 2026. This restructuring is part of a broader strategy for cost savings and efficiency. Verizon also reported strong first-quarter growth and expanded its fiber network.

https://www.zacks.com/stock/news/2921385/verizon-announces-new-layoffs-as-cost-cutting-continues-into-2026

I've watched hardworking, competent people get lower ratings than they deserved, then get laid off as soon as possible. It's not about your value. It's about cutting costs.

Ford is in denial if they believe the supply base is responsible for their pathetic quality performance, First they purge their tenured engineers from the team and they revel in lowest price globally and can’t provide reliable repairs for recall issues.

No one is drinking the Ford Kool-Aid on TVM.

From Ford Authority:

Ford has certainly dealt with its fair share of quality issues over the past few years, leading to soaring warranty costs and a record number of recalls being issued. However, many of these quality woes stem from supplier parts, and not anything made by The Blue Oval itself, though it's obviously dealing with the repercussions. As such, while Ford attempts to improve its relationships with suppliers, the automaker is also getting serious about improving the quality of parts it procures from them.

According to Crain's Detroit Business, Ford is cracking down on supplier quality and costs by placing companies that exhibit quality issues on a "no bid" list for future contracts, as well as requiring others to submit three-year cost savings plans to prevent a similar outcome. The Blue Oval is requiring certain suppliers to enter what's known as "total value management" plans (TVMs), which require a certain percentage of cost savings on the overall supplier business every year.

TVM programs are nothing new nor uncommon, as automakers generally bind suppliers to meet certain quality and cost savings targets in that manner. What makes Ford's TVMs unusual, however, is that it's stepping up the enforcement of its multi-year requirement, and even pulling business from suppliers that don't reach some sort of agreement with the company.

At the same time, Ford was quick to point out that this is not a new policy, and that enforcing TVM programs are part of its broader efforts to improve quality and reduce costs in order to better "compete in a rapidly changing and complex industry."

“We work with each of our suppliers to seek ongoing improvements to address gaps in quality, cost, delivery and resilience, which may take multiple years to implement,” Ford spokeswoman Ursula Muller said in a statement. “Sourcing is a multi-dimensional process that rewards suppliers who perform and bring the best enterprise value for Ford and our customers.”

Have you recently check Verizon careers posted externally? All locations seems to be on India even Engineering Ops. Is this an operational strategy to cut cost where eyes are in India and fewer hands in US? I see a murky future for Verizon. Parts of it will be sold.

VZI employees reduction and cost cutting is in peaks. A lot of work load been observed in every domain.

General Motors is laying off hundreds of salaried employees. These cuts impact its information technology operations. The reductions began on Monday. Around 500 to 600 employees are largely affected. The automaker aims to cut redundancies and reevaluate workforce needs.

Detroit, Michigan

https://www.cnbc.com/2026/05/11/gm-layoffs.html

They’ve cut ~20% of the workforce today as, “ the business reorganization we announced today, which will impact approximately 20% of our global workforce. The intent of the reorganization is to simplify our global engineering operations, reduce our fixed costs, lower general and administrative expenses, and accelerate our move up-market and away from down-market SMB.”

Nearly 38,000 US jobs were cut in the first 10 days of May 2026. This affected sectors like technology, finance, and aviation. Spirit Airlines ceased operations, impacting 14,000 employees. Many companies cited AI-driven restructuring and cost reduction plans. Kyndryl, PayPal, and Cloudflare also announced significant workforce reductions.

https://americanbazaaronline.com/2026/05/10/us-layoffs-in-first-10-days-of-may-2026-nearly-38000-jobs-cut-480502/

contractors paid more then FTEs for same work ? any company will retain their FTEs and lay off contractors for any scenario!!

Anyone else remember when Ricky got up on stage at that 2025 end-of-year townhall to proclaim that we would be getting COLAs on top of our merit raises in 2026? It's been nothing but radio silence since then, share prices are down 13% YTD, and we're shifting into cost-cutting mode— the writing is on the wall, and we're not getting that COLA, but we all know Ricky and the EC will sure as he-l be making out like bandits with their equity comp.

"Trust— earned over a lifetime, lost in an instant." Maybe you should start listening to your handler, Ricky Boy.

Siloam Mission is implementing cost-cutting measures. The Winnipeg non-profit is laying off 16 people. Its drop-in dining space and clothing store will operate on reduced hours. These changes address a projected $4.4-million deficit. Charitable giving is at a 10-year low.

Winnipeg

https://ca.news.yahoo.com/winnipegs-siloam-mission-announces-layoffs-213040710.html

Does anyone think building the new HQ with this economic climate is a little crazy?

I can’t help but think about how they will ultimately cut people as part of the balance sheet tight-rope act such an enormous expense will cause.

Lastly, as a Dallas native I’m worried about the economic health of the city when we leave. I know the tower isn’t the best but access to mid-day kayaking isn’t something anyone cares about.

Major announcement in ECS. UHG has determined it is cost effective to offshore pre authorization services for LTAC, IRF and SNF to the Philippines. 30-40% is caseload gone. Member PHI to be handled by 3rd world

Many jobs sent to the Philippines because it is cheaper , pushed the CEO out bc KKR investment firm

My partner works for AZ and in a recent town hall meeting they said they play to reduce costs by 30% by 2030 with AI being the main focus. Expect more layoffs to come

I believe Verizon needs to continue building a stronger market-driven culture focused on performance, accountability, and long-term competitiveness. That means making difficult decisions when necessary, including reducing redundant positions and streamlining teams to stay agile in a rapidly changing industry. A stronger return-to-office policy is also important because in-person collaboration improves communication, training, innovation, and team culture in ways remote work simply can’t fully replace. If Verizon wants to compete and grow, the company has to prioritize efficiency, execution, and a workplace culture centered on results.

The University of North Texas approved buyouts for 40 faculty members. This action aims to save up to $4.7 million. The university faces a projected $45 million budget shortfall. Declining international student enrollment and reduced state funding caused this deficit. Officials are considering other cuts but do not expect broad layoffs.

Denton, Texas

Here we go! Time to start trimming the fat. Hang on, because the ride is about to get interesting!

What real estate is actually getting sold off?

Carter's will shutter 150 locations nationwide. The company also eliminated 300 positions. These measures aim to stabilize the business and absorb losses. Elevated product costs and tariffs impacted profitability. The Atlanta-based firm operates Carter's, OshKosh, and B'Gosh brands.

Atlanta, Georgia

https://patch.com/new-jersey/across-nj/amp/34055146/major-clothing-retailer-in-new-jersey-closing-150-u-s-stores

Whatcom County faces a looming "structural imbalance" in its next two-year budget cycle. Rising labor and materials costs are outpacing stagnant revenues. County Executive Satpal Sidhu warned employees of potential layoffs and schedule adjustments. These measures are being considered for the 2027-28 spending plan. Department heads are currently planning their budget priorities.

Bellingham, Washington

https://www.bellinghamherald.com/news/politics-government/article315647673.html

Disney executives discussed potential future workforce changes. CEO Josh D’Amaro and CFO Hugh Johnston spoke on an earnings call. The company aims to build a "culture of efficiency." They plan to shift expenses towards content and technology. Disney is also exploring AI to improve operations and guest experience.

Burbank, California

https://deadline.com/2026/05/disney-layoffs-workers-ai-culture-of-efficiency-1236882815/

Activist investor Ryan Cohen has proposed acquiring eBay Inc. He sharply criticized eBay's current operating structure and large workforce. Cohen stated that 11,500 employees do not make sense for an asset-light business. He plans aggressive cost-cutting and headcount reductions if his bid succeeds. This strategy aims to increase earnings and accelerate innovation.

https://www.benzinga.com/markets/equities/26/05/52311822/ebay-layoffs-looming-ryan-cohen-says-11500-headcount-doesnt-make-sense-fwor-asset-light-business

Coinbase is laying off 14% of its workforce. This amounts to approximately 700 workers. The company is shifting efforts toward artificial intelligence. CEO Brian Armstrong cited a volatile crypto market and cost-cutting needs. Restructuring efforts will cost $50 million to $60 million.

San Francisco, California

https://www.sfgate.com/tech/article/coinbase-layoffs-2026-sf-22242957.php

PayPal plans to cut 20% of its staff. This reduction will take place over the next two to three years. The company aims to accelerate its adoption of artificial intelligence. These job eliminations are also part of a cost-cutting initiative. CEO Enrique Lores stated PayPal underinvested in its technology platform.

https://www.wsj.com/business/earnings/paypal-to-cut-costs-after-profit-falls-dc42baf9

Every time I see this I feel like it's a thinly veiled threat that my job is an expense to be managed.

I'm assuming gunjan was having trouble with english and doesn't know the difference between expense and employee, hence why they started using "colleagues" instead to prevent slip-ups when she talks.

Coinbase announced it will cut approximately 700 jobs. This represents about 14% of its global workforce. The company cites crypto market volatility and cost reduction as reasons. It also aims to reposition the business for the artificial intelligence era. These restructuring efforts are expected to incur $50 million to $60 million in charges.

https://www.reuters.com/business/world-at-work/coinbase-cut-about-14-workforce-2026-05-05/

Because this state is driving young adults out with zero affordability. Boston rent is off the charts, it’s unsustainable here.
The governor has not met a tax she didn’t like we are quite literally being squeezed and taxed to death here.
So don’t worry you won’t be laid off you’ll just be drained of all your money here. The only reason Fidelity still has HQ here is because of her massive real estate holdings. Even billionaires don’t like to lose money.
If things don’t turn around fiscally here we all may be forced between Texas and keeping our jobs or taxes and bleeding money to stay afloat. And I’ve got fairly deep seven figures invested and I’m worried!

The more layoffs there are, the higher the stock price goes.
Even if another half the workforce is cut, it doesn’t seem to affect the capitalists’ ability to make money—although the product keeps getting worse and the service keeps deteriorating.

Stockton University has initiated a voluntary buyout program for employees. Professors and select managerial staff are currently eligible for the offer. This move aims to curb expenses and ensure the university's financial stability. The institution faces challenges including declining enrollment and proposed state aid reductions. Staffing costs account for 61% of Stockton's annual budget.

New Jersey

https://www.nj.com/atlantic/2026/05/nj-university-rolls-out-staff-buyouts-amid-lower-enrollment-proposed-aid-cut.html

7-Eleven is implementing a cost-focused transformation. The company aims to streamline its organization. This process has led to difficult decisions and staff changes. Many employees have posted about their departures on LinkedIn. The goal is a stronger, more competitive business.

Irving, Texas

https://cspdailynews.com/company-news/workforce-changes-emerge-7-eleven

Northrop Grumman recently reduced positions in the Baltimore region. These layoffs stem from shifting program demand within its Mission Systems division. Analysts indicate a specific contract was either pulled or reduced in scope. The company confirmed a "small number" of employees were affected. This action is not considered a broad cost-cutting measure.

Baltimore, Maryland

https://www.msn.com/en-us/news/us/northrop-grumman-layoffs-in-baltimore-seen-as-limited-by-analysts/ar-AA22bC0J?ocid=BingNewsVerp

Coming soon to an office near you: widespread layoffs dressed up as “performance decisions.” Don’t expect generous severance packages or smooth exits. Companies are increasingly looking for ways to avoid those costs altogether. Instead, they’ll build a case against you.
Return-to-office mandates, shifting performance metrics, evolving skill requirements, incomplete trainings ... Anything &everything can become the justification. The bar will keep moving, and the reasons will keep changing. What used to be acceptable yesterday may suddenly be labeled inadequate tomorrow.

This isn’t always about individual performance and it’s often about reducing headcount while minimizing financial and legal obligations. The strategy is simple: create enough documented “cause” to make departures look justified, even when the real motive is cost-cutting.

In this environment, job security isn’t just about doing your work well. It’s about staying alert to how the rules are being rewritten around you.

It's just a matter of time my friends.

The reality is that T has far more FTEs than the other guys. I totally get the need from an operating expense perspective to reduce headcount but the reality is the work still needs to get done. Having said, that contractors will be where the work ends up so there are still jobs out there, probably working for a company with a less toxic environment.

Too much fluff for roles that don’t directly add to revenue generated and the bottom line, and hence must be cut.

Comment if your manager is worth saving, and why?

Checked with claude, they may save $600 M per year ongoing basis if they get rid of 10 percent people.

They are paying double for Mainframe and Cloud. Also schwab is much leaner at just 35k employees.

They may want to hire talented developers who recently laid off from Amazon or Meta.

Salary and benefits are likely the biggest drivers of these cuts, people talk tech and AI but I am not sure if these are primary drivers... Anyway we (and others) may use opaque AI tools to hit cost-cutting targets, which can overlook performance, tenure, and so needed knowledge. High earners (even strong managers) can be cut simply because they just cost more.

Not sure how much we can change here but we can be ready. Polish your resume and stay alert. Leadership answers to shareholders not us, and layoffs are often the fastest way to cut costs when stock performance drops...

I know most of you are already aware, so I am preaching to the choir.

They've been telling you all that there are more coming. More outsourcing. More cost cutting.

The worst thing to happen to Bnsf railway was , " Berkshit Hathaway". Trading peoples livelihoods for profits. No different than when they were burning people out of their homes back in the day to lay tracks !!!

If you look, you can see what’s going on. Management not really enforcing 5 day RTO. Snacks/eggs not being restocked. Soda/coffee/water machines taking days to refill.
The company is feeling the cost squeeze of offering those things now that they have to save for the new .
So they look away on you coming in 2-3 days, and you look away on all these amenities they lured you back with.