#layoffs

Arthur Hayes spoke at Consensus Miami. He is the BitMEX co-founder and Maelstrom CIO. Hayes predicted AI-driven layoffs could cause a banking crisis. He believes Bitcoin is already reflecting this potential crisis. Hayes also shared his BTC price target and Hyperliquid conviction.

https://finance.yahoo.com/video/arthur-hayes-says-ai-layoffs-171456843.html

Layoffs in 2026 are inevitable and I can’t help but chuckle when people come onto this board to whinge about more layoffs are coming.

Are layoffs stressful? Absolutely. No one is denying that. One thing you can do is change your mindset.

Control the controllables.

You can’t control whether you are going to be laid off or not. What you can control is finding a new job. It’s not easy to find a new job in this market, so start looking now. Don’t wait until your job is impacted to look for a new role. Who knows… you might get lucky… engineer yourself a redundancy when you have something else lined up. To do so, you have to be smart. You can’t be bitter. It takes weeks to engineer a redundancy so get your ducks in order! There is life post Citi. You might surprise yourself. You may enjoy life after Citi more than you enjoy life at Citi. Food for thought.

No other way to really explain it.

Business Insider announced new employee cuts. Jamie Heller announced the company's staff cuts. The Insider Union reported 10 staff members were impacted. Management aims to sharpen coverage and invest in key areas. This marks the fourth staff cut for Business Insider.

https://www.thewrap.com/media-platforms/journalism/business-insider-layoffs-fourth-year-in-a-row/

Cisco announced job cuts affecting approximately 4,000 roles. This reduction represents about 5% of its global workforce. The company is restructuring to shift resources towards artificial intelligence. These layoffs occur despite Cisco reporting record revenue and profits. Cisco previously laid off a similar number of workers in February 2024.

https://www.thehrdigest.com/cisco-layoffs-set-to-affect-4000-roles-as-ai-redefines-operations/

Columbia College recently eliminated three staff positions. Its staff union claims the college violated its contract. The union states it received no advance notice of these layoffs. These reductions occur amid ongoing financial strain and declining enrollment. The college is now discussing the situation with the union.

https://columbiachronicle.com/campus/we-cannot-survive-on-a-skeleton-crew-columbia-staff-union-says-sudden-layoffs-hurt-morale-student-services/

I saw the news about cuts today and it got me wondering. Back in 2022 when Cisco let me go, they gave 60 days in lieu pay, another 60 days severance, PTO cashed out, and four months of COBRA. Does anyone know if the packages are still similar now or have they changed over the years? Just curious how it compares.

Fairfax County Public Schools faces a $29 million budget deficit. Leaders proposed a plan to close this gap for the next school year. The plan avoids staff layoffs and protects core classroom programs. Cuts include reducing reserves and delaying technology upgrades. Officials warn this solution is temporary and not sustainable long-term.

https://www.wusa9.com/article/news/education/fairfax-county-public-schools-29m-in-cuts-to-avoid-layoffs/65-a4b5a70d-48b2-47b3-9f48-e5112c99daea

The Manchester School District voted to prevent staff layoffs. The Board of School Committee approved reallocating $8.6 million. These funds were originally for school renovation projects. This decision avoids potential layoffs before a state deadline. The budget now moves to the Board of Mayor and Aldermen.

Manchester, New Hampshire

https://www.wmur.com/article/manchester-school-budget-layoffs-51426/71311076

I believe sales will be hit again after the end of the fiscal year (5/31). Some in sales were left alone during the last round to see if they could close key deals, and they might be let go after the year ends. Also, as we move into FY27 I expect a re-org/shuffle of sales teams which might result in a few more being laid off. I'm out of the loop now, but that's my expectation.

Chicago Public Schools (CPS) plans to lay off hundreds of teachers. This action addresses a projected $732 million deficit for the next school year. Federal COVID-19 relief funds, which previously supported staff, have now ended. The district has also seen a significant decline in student enrollment since 2019. CPS officials are exploring other funding sources to mitigate the shortfall.

Chicago, Illinois

https://chicagocrusader.com/hundreds-of-teacher-face-layoffs-amid-projected-cps-732m-deficit/

Portland State University announced plans to lay off 52 faculty and staff members. This action is part of a broader financial sustainability plan. The university aims to close a $35 million budget deficit by fiscal year 2028. Two academic departments, University Studies and Conflict Resolution, are slated for elimination. The provisional plan also includes a tuition increase and affects nine departments total.

Portland, Oregon

https://www.wweek.com/news/schools/2026/05/14/portland-state-university-eyes-52-layoffs/

I overheard a conversation in a coffee corner where one colleague said that HR is tracking our surfing behavior, and that people who go to this site regularly are marked for the next round of layoffs.

Is this true? And if so, would that be legal, or could we challenge such a move?

Surprising, no headcount cut, announced till now

Heard rumblings of a hiring freeze. Take a look at the careers page…only 22 listed. A mix of 22 positions that are determined to be necessary during this financial freeze. The first job option has an estimated range of 227-431k……..

It might happen... but people are jumping from accounting math to headcount certainty. They said fewer than 4,000 jobs in Q4. They also said notifications start 5-14 and continue globally based on local laws and regulations. OK, makes sense - it su-ks but it makes sense... That alone explains why some costs roll into FY27.

The remaining restructuring charge does not automatically mean another 4K or 5K people in Aug.... It can include severance paid later, benefits, legal and administrative costs, country-specific consultation periods, delayed effective dates, and other restructuring expenses.

Could there be mre cuts later? Sure. This's Cisco afterall. But that is different from saying Aug is confirmed...

Unless someone has an actual internal list, mgr confirmation, country schedule, or filing that says another wave is planned for Aug, the aug number is still speculation... people should stop treating it like a confirmed fact just because the 1B charge is split across Qs.

I am waiting for the count to be < 5 soon

I wish I would have been in SVP or D level to not get axed. So far what I have seen only these levels are in decision panel and only vp avp getting cut. Which makes no sense though because they again hire new resources for those positions once the wave is crossed. They don't have any idea what are they doing (an ordinary VP has better understanding) just thinking themselves as king and cutting people they don't like not on merit.

Lots of critical engineers on critical location are leaving, it is the biggest stupid lay off I have ever seen...

Is there any consensus which divisions will be hit the hardest in upcoming merger layoffs? P+ was already decimated rather recently. Thoughts or knowledge on if streaming will be hit hard again? Not sure what to expect with the combining of HBO Max

In case I’m one of the folks getting laid off, trying to make sure my finances in order. Does anyone know what the severance pay usually is?

This morning’s Town Hall included a quick reference to 1500 roles/teammates will be impacted around 8/1 or 9/1. That is about 48% of RMO. Anyone else hear the same or have any details?

I can't stop thinking about the unfairness of how all this works. A small group of people at the top repeatedly make one short sighted decision after another, often ignoring warnings from the people who actually understand the business. Then, when those decisions inevitably blow up, the same people announce layoffs and call it a necessary adjustment. Not one of them takes a pay cut. Not one of them gives back a bonus. Not one of them faces any real consequence at all. Meanwhile, the rest of us, the people who had no say in any of those bad decisions, are the ones who lose our jobs, our stability, and our peace of mind. I'm so tired of watching executives protect their own wallets while ordinary employees pay the price for mistakes they didn't make. At some point, we've got to start demanding that the people in charge actually take responsibility for their own failures instead of just using layoffs as an easy out every time things get difficult.

I just wish this was already over and done with. I’d rather it had happened on Wednesday and I knew one way or another than sit here for days letting my anxiety spiral. This waiting is the worst part of it. I really do think being left in limbo like this is inhumane.

Dan has been give 20-30% reduction in costs now. There will be massive cuts for 3P and employees. Expect layoff, expect old investigations opened up, and expect minor issues to result in termination. The teams that will be hit are EDAO, P&C IT, Corp and Bank. No one is safe but those are the target areas

I started here not too long ago, and with all the talk about more layoffs, I'm trying to figure out what my situation would be if my name came up. Does anyone know whether people who've been here less than a year typically qualify for severance, or is that something that only kicks in after a certain amount of time?

I've been hearing whispers for weeks now, but nothing official. If anyone has any real information about whether another round is coming, please share what you know. The silence is making me nervous.

PNC Bank retains key leadership as 777 FirstBank employees face summer layoffs

Of the 777 FirstBank employees at 12345 West Colfax Ave. who will be laid off beginning on June 30, the company’s market presidents will not be among them.

https://www.bizjournals.com/denver/news/2026/05/14/pnc-keeping-firstbank-presidents-amid-layoffs.html

It seems to be happening all over again. Usa in favor of other regions or ai

Xbox, LinkedIn, data centers... Is anything safe from cuts these days?

Managers don't care about their teams, they just assign work at the last minute and nitpick every little thing. Employee engagement is basically nonexistent, and we've got layers of middle managers who contribute nothing. The disconnect between our teams in different regions is huge, and nobody seems interested in fixing it. They send out surveys asking for feedback, but nothing ever changes, and the town halls are just performative. Then there are layoffs. I don't know a single person who's actually happy working here. Some people are comfortable, sure, but happy? No.

Started here not even half a year ago. Put in the work, learned the systems, made an effort. Now I'm being kicked out with people who've been here for years. What was even the point of hiring me?

I wouldn't mind signing up for it one bit.

• Amazon's Selling Partner Services team cut jobs this week.
• Amazon is doubling down on AI and other forms of automation.
• The latest job cuts highlight Amazon's ongoing efficiency drive.

https://www.businessinsider.com/amazon-continues-job-cuts-retail-ai-2026-5

My doctor believes I should take short-term leave; and I’m wondering if a person is on short-term leave can they be fired or laid off during that time.?

We have a baby due in just a few months and I've never been this scared about job security. I can't afford to be laid off right now. Not with hospital bills coming and a new mouth to feed. Every rumor about cuts makes my stomach drop. I don't know how I'll be able to deal mentally with constant layoff rumors through all of this.