#cuts

How many did we lose in this round? Also, can we finally consider this over or will it continue somewhere down the line?

I have been told to expect cuts in the coming months, specifically August. As far as recent cuts made, some were expensive and others were not top performers. Who knows. Some of the cuts have gone after long tenured employees, who probably made good money and hefty LTI if they qualified. Replace them with a junior for half the cost.

Anywhere?

I'm not asking for any details, it's just that my anxiety is hitting new levels with not knowing whether any cuts are taking place today or not. Just a simple yes or no. Please.

Confirmed cuts are coming this fall, although this won't be sudden.

Impacted folks will be communicated that they have X number of weeks to transition into a new role within fidelity or negotiate severance.

Some folks will be given till end of year to figure out their fate.

The list is already in the process and your skip level will communicate the decision to you.

And if so, any ideas on what's going to get hit?

I think once everyone learns that FT, who is a large client, is dropping the contract and going with a different company the stock will fall even lower. Well into the 30s. How can you have confidence in the company if they constantly get dropped by clients?

That's the official termination date for people cut back in March. So is this a mix-up, or is another round really coming that soon? More layoffs are inevitable, I just want to know if another bloodbath is right around the corner.

There are a lot of rumors that upper leadership has stated that SLC will be displacing the QA deptments end of June possibly the end of 3rd quarter in Sept. Its also been said that most of SLC will be gone before 2027. Any truth to this?

Involuntary ones.

Does anyone have any idea when the next round will be, June or July 2026?

Please don't assume we're back just because we're hiring. If you've followed the trend over the last few years, OpenText has often hired and then later laid off employees to backfill positions. The current hiring activity alone doesn't necessarily indicate sustained growth.

Anyone else hearing that there is a small layoff planned in the next 2-3 weeks?

At some point, layoffs at SAP stopped being a last resort and started being a standard business tool. Instead of exhausting every other option first, cutting employees is now the main go-to move whenever costs need trimming.

There's growing chatter about people being cut due to less token usage.

If you weren't heavily using your copilot, it's being seen as "you're not growing" and "adapting" to new technology.

To me it's seems mo--nic,
It's another metric of punishing people who are efficient while people who used dev assist for simply changing a label on UI are being rewarded.

Not that I'm complaining, but just checking.

Will there be more cuts?

HC discussions ongoing. Don’t get too comfortable … stay safe.

I see jobs posted online yet the CEO wants to do more with less. Who knows which way this will go.

Halliburton just lost 80 percent of frac contracts to Gore Nitrogen.
3 frac crews and 1 cement crew walked out at Duncan field camp this morning.

May the odds be ever in your favor.

There were some rumors of more cuts at the start of June, what happened with that?

Bell laid off 300 individuals, mostly related to the MV-75 program. Due to cost cuts and the program transitioning out of design and into production.

Years of hard-earned shares, gone in a jiffy. People poured everything into their roles, and just because the company decides that a role no longer exists, with zero explanation, zero rationalization, employees are left holding the loss.

And the timing? May 31st. Current quarter incomplete. Not only do you lose the shares you earned over years, vesting over the next 3 years, you lose out on the current quarter too.

How is any of this fair?

The shares should be paid in full as those were allocated on the basis of the hard work done so far. This was definitely not expected from Fidelity.

Anyone know if there will be new layoff rounds in June? Hearing rumors that layoffs could become a quarterly occurrence. Any insight on whether there might be cuts next week, and if they would be concentrated in STS or spread across multiple organizations?

Friday isn't usually a layoff day, so I'm thinking no, but if anybody knows for sure, please share.

Fidelity layoffs hit Covington campus

CINCINNATI (Cincinnati Business Courier) - Fidelity Investments has laid off several people from its Covington campus.

https://local12.com/news/local/fidelity-investments-layoffs-hit-covington-campus-employment-unemployment-jobs

Cybersecurity company SentinelOne plans to lay off hundreds of employees. The cuts are expected to affect approximately 10% of its global workforce. This totals around 300 employees worldwide. The company faces intense competition and slightly weakened profitability. SentinelOne will announce the layoffs with its financial statements.

https://www.calcalistech.com/ctechnews/article/bk7cn6rxfx

Do layoffs work like trash days? When there is a holiday, trash pick-up comes a day later than the regular scheduled day. Monday was a holiday this week. Does that mean layoffs will be Friday, May 29 instead of Thursday, May 28?

Columbia College recently laid off six tenured faculty members. This action addresses declining enrollment and a growing budget deficit. The college has now cut 54 full-time faculty since January 2025. The layoffs impacted the Schools of Communication and Culture and Design. Affected faculty will receive pay through the next academic year.

https://columbiachronicle.com/campus/breaking-college-lays-off-6-tenured-faculty-in-fourth-round-of-cuts/

NPR implemented staff reductions following a round of voluntary buyouts. The total workforce reduction amounts to fewer than 30 employees. Most employees accepted buyouts, but 10 journalists were laid off. The content division saw a cut of approximately 4%. These actions address financial pressures from declining revenues.

https://current.org/2026/05/npr-reduces-staff-through-layoffs-buyouts/

They always have an excuse on earnings calls. Covid, Presidential elections, war, gas prices, etc. When will analysts call their bluff? They’re so far off from paying off their debt. If they don’t do sell offs, they will continue to cut expenses (headcount) every quarter to make the numbers look better.

@e2+1kr1f5ck0 said it perfectly.

For those that keep asking the question about more cuts coming, the answer is yes!

https://www.tmonews.com/2026/05/leaked-timeline-suggests-t-mobile-is-nearing-an-all-t-life-future/?amp=1

Anything else getting hit or is this round just for Optum?

As in July or August?

Highlands Community Charter and Technical Schools announced layoffs. Seventy-nine employees were impacted by these job reductions. This occurred days after the county board voted to keep the school open. The school cited operational and financial realities for the cuts. It aims to strengthen academics and ensure long-term sustainability.

Sacramento, California

https://www.abc10.com/article/news/local/california/highlands-charter-school-announces-layoffs-days-after-county-vote-keeps-school-open/103-b29a26dc-efc6-40f4-b7a0-9770c59766cc

The golden years are long gone. To compete with price slashing, we have to almost give away our product. This leaves less to work with. Though cost cutting has been a theme the past 5 years. But this past year has reached Sprint levels. Do more with less people and money but be happy about leadership's questionable decisions. It is scary the similarities of what Sprint went through before being destroyed and what we are seeing today within. A sad coincidence we added yellow to our colors. On top of all that weight from above, customers are getting worse. Not just with us but everywhere. The entitlement norm and lack of compassion or respect of fellow humans is a crazy strain on workers already looking over their shoulder.

@xx+1kqqf7e4m makes an excellent point.