Tag

Severance

All articles tagged with #severance

business28 days ago•19 min saved

Oracle Launches Third 2026 Layoff Wave Amid AI Debt Surge

Oracle initiated a new round of layoffs on September 14, 2026, marking the third major workforce reduction this year. Employees received termination notices at 6:00 AM, citing 'broader organizational change.' The cuts follow a fiscal year where Oracle reduced its headcount by 21,000 (13%) and spent $1.84 billion on severance. The company is currently accumulating significant debt to fund AI data centers, with capital expenditures rising sharply.

via nypost.com|

#ai-infrastructure #business #layoffs

business1 month ago•5 min saved

Laid Off Twice: Uber Employee’s Double Blow in the AI Era

A former Uber employee recounts being laid off first in 2023 and again after returning this year as an evaluations specialist on the GenAI team, detailing the shock of the second layoff, a 21-week severance plus garden leave, ongoing benefits and stock vesting, an active job search in a tough market, and skepticism toward leadership for not safeguarding staff amid AI-driven changes.

via Business Insider|

#business #genai #job-market

business1 month ago•8 min saved

Xbox Mass Layoffs Trigger Grief, Union Bargaining and Creativity Fears

Microsoft’s Xbox unit unveils a broad restructuring cutting 3,200 jobs by 2027 (1,600 immediate). US staff receive WARN notice; unions are negotiating severance and possible re-employment. Workers describe abrupt, isolating layoff calls and emotional toll, warning that loss of institutional knowledge could delay games, amid broader industry concerns as more cuts loom.

via The Guardian|

#business #layoffs #microsoft

business1 month ago•20 min saved

Disney Tests Voluntary Exit for Senior Executives Amid Cost-Cutting Push

Disney is offering a time-limited Voluntary Early Retirement Offer (VERO) to U.S.-based executives at Director through EVP levels across Disney Entertainment, ESPN, and Corporate who meet a 65-point threshold (age plus years at Disney), with a minimum age of 50 and at least 10 years at the company. Eligible executives can retire with an enhanced package including separation pay up to a year, healthcare at active-employee rates, continued vesting of equity awards for three years, and lifelong Silver Pass access; participation is optional and does not preclude future employment. The program comes as Disney accelerates cost-cutting and ongoing layoffs (over 1,000 announced in April, with more in July). Contractors are excluded, and there will be a defined election window followed by a confirmation period. This is the first such offer in years, following voluntary buyouts in 2001 and 2009.

via Deadline|

#business #disney #executives

entertainment2 months ago•52 min saved

Howard Stern Staffers Push Back on Severance After SiriusXM Layoffs

Former Howard Stern Show staffers reportedly rejected SiriusXM’s severance offers—which reportedly paid about one week’s pay per year worked and came with strict NDAs—and are negotiating exit terms with HR, as more than a dozen employees (including at least five on‑air personalities) were laid off. The shakeup comes as Stern recently signed a new three‑year contract and will reduce his live show to one episode per week starting in September.

via Yahoo|

#entertainment #howard-stern #layoffs

business2 months ago•3 min saved

Bethesda Montreal layoffs spark legal challenge over minimal severance and cut benefits

Following Fallout 5 and other announcements, Bethesda Montreal employees were told they’d receive the smallest severance legally possible without bargaining with the union and would immediately lose their group health insurance; dozens of US and Canadian staff were laid off, with Canadian workers receiving termination letters by July 17, prompting OneBGS to file a complaint alleging Canadian labor-law violations.

via Rock Paper Shotgun|

#bethesda-montreal #business #health-insurance

technology2 months ago•1 min saved

Google Workers Demand Job Security as 4,500 Sign Layoff-Protection Petition

More than 100 Google employees rallied outside the Mountain View headquarters, delivering a petition signed by 4,500 workers to CEO Sundar Pichai demanding job-security protections, including guaranteed severance, an end to performance quotas, and access to extended paid leave amid rising tech layoffs.

via ABC7 Bay Area|

#google #layoffs #paid-leave

business3 months ago•8 min saved

Tech Giants Burn Billions on Severance as Job Cuts Reshape the Industry

Tech giants are spending billions on severance and layoffs as they trim staff after the pandemic-era hiring spree. Amazon disclosed about $2.7 billion in estimated severance through 2025 (with $1.8B recorded in the prior quarter) as it continues large-scale job cuts; other Mag 7 members either did not disclose severance separately or lumped it with restructuring charges. Outside that group, Oracle and Intel each reported roughly $1.8 billion in severance costs, while Dell ($569M) and Cisco ($617M) posted sizable exit costs; AMD and Micron reported much smaller figures. Headcount declines were sharp (Intel ~25,000 in 2025; Oracle ~21,000; Dell ~36,000 over three years), signaling a shift toward cloud/AI investment and cost discipline over expansion. Amazon’s implied severance per laid-off employee was about $60,000.

via Business Insider|

#amazon #business #intel

arts-entertainment3 months ago•14 min saved

Eight Hours of Chaos: Harlan Coben’s I Will Find You Is a Gloriously Messy Netflix Binge

Adam White’s review of Harlan Coben’s I Will Find You on Netflix calls it a gloriously overstuffed eight-episode fever dream: a web of convoluted twists, DNA-swapping plots, and interconnected characters that feel like a mash-up of The Fugitive, Prison Break, and Batman-tinged melodrama. Despite (or because of) its nonsense, the eight-hour binge is compulsively watchable, with a starry cast that includes Sam Worthington, Britt Lower, and Milo Ventimiglia, making it hard to tell if you’re awake or dreaming by the end.

via The Independent|

#arts-entertainment #harlan-coben #milo-ventimiglia

business4 months ago•3 min saved

Salesforce Extends Severance to 30 Weeks Amid Layoffs

Salesforce’s U.S. severance plan pays based on level, tenure, and age: senior directors get 13 weeks, senior managers and below 9 weeks, with an extra four weeks for employees 60+, plus three more weeks per year of service. The total cap is 26 weeks (30 weeks for those 60+), and COBRA coverage lasts six months (12 months for those 60+). The package can total up to 30 weeks, a generosity level larger than recent offers from Oracle, Amazon, and Block, as the company conducts layoffs amid AI-related concerns.

via Business Insider|

#big-tech #business #cobra

business4 months ago•4 min saved

Meta’s Zuckerberg promises no more company-wide layoffs this year after 8,000-job cut

Meta cut about 8,000 jobs (roughly 10% of staff) in three waves, with 7,000 reassigned to AI projects and roughly 6,000 roles scrapped. In an email to remaining employees, Mark Zuckerberg promised there would be no further company-wide layoffs this year and acknowledged that Meta’s communications during the layoffs had been poor. The company is pouring money into AI-related infrastructure and research, and severance for those let go includes 16 weeks’ pay plus 2 weeks per year worked, plus 18 months of COBRA coverage, as the corporate rethink continues for what survives—about 70,000 employees.

via The Times of India|

#ai-investment #business #layoffs

business4 months ago•2 min saved

Meta trims 10% of staff as it doubles down on AI

Meta announced a 10% workforce reduction, cutting about 8,000 jobs and not filling roughly 6,000 open roles, while redirecting around 7,000 employees into AI-related work. Mark Zuckerberg framed AI as the defining technology of our era, warned that success isn’t guaranteed, and said there should be no additional cuts in 2026, with severance and support extended to affected US employees as the company reshapes for an AI-led future.

via NBC News|

#artificial-intelligence #business #layoffs

technology-news4 months ago•2 min saved

Meta reshuffles workforce with 8,000 layoffs and major AI pivot

Meta announced sweeping layoffs affecting about 8,000 workers (roughly 10% of its global staff), canceled 6,000 planned hires, and reassigns 7,000 employees to AI-focused roles. US employees will receive 16 weeks of severance plus two extra weeks per year of service. The move underlines a deep pivot to artificial intelligence even as morale concerns build over pay cuts and data practices tied to AI training, with investors watching AI investments closely.

via Al Jazeera|

#artificial-intelligence #layoffs #meta

technology4 months ago•9 min saved

Meta Chips Away at Staff in AI-Driven Overhaul

Meta is laying off about 8,000 workers (roughly 10% of its 78,000-strong workforce) in three waves while shifting more than 7,000 employees to AI initiatives and flattening management layers. US severance includes 16 weeks of base pay plus two weeks per year of service, plus 18 months of healthcare; international packages vary. The move aligns with Meta’s heavy AI push and 2026 capital expenditures guidance, but morale has suffered and more restructuring could follow.

via Business Insider|

#ai #layoffs #meta

business5 months ago•4 min saved

GM IT Layoffs Tied to AI Push as 500–600 Roles Cut

General Motors laid off about 500–600 IT employees in Austin and Warren, with AI reportedly influencing the decision amid an IT restructuring; severance ranges from two to six months based on tenure, plus lump-sum health benefits and outplacement services, while GM continues hiring in IT, including AI-focused roles.

via CNBC|

#artificial-intelligence #business #gm