#cuts

So people can be ready for it.

Heard few people got emails at 9.00 and few will be getting at 11.00 ?
Anyone heard the same ?

Dan and his evil cronies fired you to buy back $1b worth of shares. Just evil

Use this thread for the layoffs on July 30th

The way they continue to spin our questions into something easily dismissed is astonishing. 'Concerns about layoffs programs.' 'We don't have a layoff program like other companies.' And a swift move to the next question. These clowns are the worst of the worst.

This sounds more like regular surgical cuts that always happen than a major round.

https://oilprice.com/Energy/Crude-Oil/Oil-and-Gas-Employment-Hits-a-2026-Low-Even-as-Production-Sets-Records.html
When did they announce these 9000 layoffs? Where are they? Nothing is mentioned in the meetings they have.
Good luck to those affected.

Potentially cutting the lease early and relocating because salaries have inflated there and everyone’s demoralized, etc.

Is this true? How would moving the whole operation again help with morale?

They can't keep cutting forever, eventually there won't be anyone left to cut. But even if it does stop, is there any reason to stay? Whoever's left will just be expected to do the all the work of everyone who was cut, for the same pay. I don't see a happy ending here.

I'm not sure of the exact timing, but I am sure that there will be several more layoffs before the year is over. It's just a matter of when.

What is your hunch on Q2 results. Will headctcut be announced

No meaningful raises for 99% of the employees
No more monetary awards to recognize years of service
No cost of living increases
Rare that leaders are allowed ot give monetary thank you's for going the extra mile.
OT . The company that comes to mind when people say what a shi&hole.

Are there more lay offs coming tomorrow!

Any news on more layoffs and RIFs?

The rumors are getting louder about another round of cuts, possibly starting next month. Does anybody have any concrete info about it or should I just not worry just yet?

They see us as a cost to cut. Do they think they can survive without the people who actually do the work? We're treated like we're disposable.

It might not happen right away, but you can be sure there will be at least one more big round if not more before the end of the year.

How much more can they cut before operations suffer? And by the time it stops, nobody will want to be here anyway.

It's the major rounds that happen occasionally and everybody gets all panicked about. But there are constant cuts, happening all the time, with just a few people here and there. You aren't noticing because you're not paying attention to anything smaller scale. Don't assume you're safe just because there won't be any major rounds before September or whenever.

What do you think the odds are of another round of layoffs in the next couple of months?

We get some kind of an official indicator ahead of each round, and there's nothing this time. Call me crazy, but I won't get worried over rumors.

Severance is the only thing that gets me excited these days. This place has turned into a toxic nightmare and I can't see how staying here would be a positive for anybody. I check here in hope of hearing of more cuts coming, not in fear. Give me a package and I'm gone.

Anybody knows any details?

Morale is in the gutter due to cuts and leadership couldn't care less. They don't seem to realize that stressed employees aren't productive employees. Or they don't care.

London Dr-gs has announced significant layoffs affecting approximately 80 employees across its chain. These reductions primarily impacted full-time and part-time supervisor roles at various store locations. The company cited the need to remain competitive and adapt to evolving economic conditions as the reason for these changes. This move follows a period of challenges for the retailer, including previous store closures and a cyber attack. London Dr-gs stated its commitment to supporting affected employees through this transition.

Richmond, British Columbia

https://dailyhive.com/vancouver/london-dr-gs-layoffs

Do tell.

There were a bunch of layoffs on 6/24 and another set of layoffs on 7/6. How often are these layoff rounds happening now? They used to seem like every 3 months but they are happening more frequently now.

The company has been using AI buzzwords and based on what we have seen internally, nothing has changed. RL uses pre scripted sentences and Sydney, HealthOS, data / information / insights (stop it), make it easy for members but all of the upside has been by cutting workforce or moving work at cheaper contract rates to vendors (nothing to do with AI), and all this has forced rest of the team to pick the load. I am sure there was waste - but attributing anything to AI or technological transformation is BIG overkill. There is nothing new, no real tech or AI strategy that has been shown since RL and gang came in. He just manages up at cost of real frontline workers. We see it every day.

There is nothing new, people are frustrated, new tech leaders are clueless and trying to figure out how to stay relevant by deliberately telling all things are broken, no respect for anyone with prior knowledge. I am sure in another 6 months to a year questions will be asked and leaders will blame each other. Front line managers and engineers / workforce is feeling the pressure and looking for leadership which does not exist. It’s a shame how the company is being run into ground.

Which areas being affected?

I don’t want Dan and Alfonso to get on stage next time and complain about the terrible customer experience on the app or mobile site.

They chose to retain the underperforming team while laying off smart people. How did they decide to keep Adam C over other Senior Directors? And Chris P’s underperforming team remains completely intact.

The buck stops with them going forward. They can’t blame the former leadership team anymore.

Overheard leaders discussing lack of meeting business needs is hurting SDS & heads will roll. Anyone else hear this?

So we get a whooping month and a half of reprieve before this continues?

Dear Dan. I was impacted in this round, and I don’t believe it was the right call. The people doing the hard, honest work — on the ground and in the offices — are getting cut, while others who don’t reflect the Verizon credo and haven’t put in the same effort are protected simply because of who they know, not what they do. Executives hold a lot of power in these decisions, and right now that power isn’t being used fairly. If you want to understand what’s actually happening, spend time with the people doing the work — not just the people around you who read off a deck to give you an update. Only then can you make real decisions about who and what should be cut. When executives are given unchecked power, too many will protect themselves and their friends first. I’m saying this directly because someone should. The people you’re losing are the ones who made this company run. And the so-called strategist leaders who remain still haven’t delivered a single fresh or new idea. Dan, and the executives still there — I hope you’re listening. At the end of the day, the truth always comes out. This plan of cutting is a calculated way to bring the stock prices up, but will fail in the long run. AI can’t replace humanity and integrity. I understand cuts, but not like this. Sincerely from an honest real ✌🏼teamer.

Company will be cut in half in 30 days

Any layoffs confirmed for Verizon Business Group?

Citi logged about $800 million in severance expenses in the first half of the year and may set aside more for the second half, executives said Tuesday.
The New York-based lender had about 219,000 employees as of the second quarter, down about 5% from the year-earlier quarter (230,000 employees), and about 2% from the first quarter (224,000), according to a second-quarter earnings presentation.
“We may look at accelerating some of the structural efficiency actions and, in that case, take more severance in the second half,” Citi CFO Gonzalo Luchetti said during a conference call with analysts, declining to provide more detail. “If we see opportunities, we may do a bit more than we originally envisioned.”