#acquisition

So basically, Bridgeport Partners owns CSI, which competes with Fiserv, and now they’re being brought in to run parts of our business — are things really that bad?

I’m still pretty angry, honestly. Looking back on all the BS we’ve been expected to tolerate over the years, shame on me for believing accountability would ever exist at the top.

Remember the data breach? The ELT lied to investors, employees, and regulators. The company spent hundreds of millions in legal fees and hundreds of millions more trying to clean up the mess and get compliant. Did anyone at that level lose their job? Of course not. They still got their bonuses.

Then there was EverFi, a $750M acquisition that eventually turned into roughly a $400M write-down when it was sold off. Another catastrophic decision. Again, nobody in leadership paid any personal price for the failure.

Now we’re watching good people lose their jobs while roles get shifted to India, all while leadership positions themselves for one last payday if the company gets sold. They’ll walk away with tens of millions in compensation after years of bad decisions. The rest of us get 8 weeks severance and COBRA.

At some point you realize employees are just pawns in a game where leadership can fail upward indefinitely while everyone else absorbs the consequences.

Get out while you can.

Seagate sold their ASIC team to Broadcom. I wonder if WD will do the same ? I'm aware of a couple of projects being completely mothballed at WD today.

Somebody posted on Cisco forum that they might be acquiring us, has anybody heard anything about it?

Can this be true?

Strong rumors about a nutanix aquisition.

With the published “denied” rumors around Citi acquisition of Truist, should I consider joining TFC in a new role or stay put at my current company?

Hello are the rumors true that Cisco is considering purchasing NetApp?

Get ready to be laid off. Nextera Energy goes through annual layoffs to improve efficiency which is why they are so efficient.

Sold?

Verizon CEO cuts to the chase on new layoffs and AI future:
As a new wave of job cuts hits Verizon, leadership delivers a blunt reality check on future plans and an AI deadline.

May 11, 2026 5:37 PM EDT
Dan Schulman, president and chief executive officer of PayPal Holdings Inc.
Corum/Bloomberg via Getty Images
The leaner era of Verizon Communications has entered a new phase of targeted reductions. On May 7, the company confirmed a new round of workforce cuts that will affect hundreds of employees.

This move arrives less than six months after the company completed a massive 13,000-person reduction, the largest in the telecom provider’s history.

The heaviest impact of these new layoffs is expected to be concentrated at the company headquarters in Basking Ridge, New Jersey.

According to Business Insider, the latest reduction represents approximately 1% of Verizon’s overall headcount.

And while the company has been conservative with specific headcounts, a recent State Worker Adjustment and Retraining Notification (WARN) filing in May confirms that 121 employees at the Basking Ridge headquarters are scheduled to be laid off on August 7, 2026.

Behind these layoffs and the company’s shifting profits lies a larger story of finance and AI-driven infrastructure aimed at improving efficiency.

Verizon’s $5 billion efficiency mandate

The latest workforce reduction follows a transformative milestone for the company. Earlier this year, in January, Verizon finalized its acquisition of Frontier Communications. The $20 billion deal expanded Verizon’s fiber footprint to 31 states.

During the Q1 earnings call, CFO Tony Skiadas also revealed that Verizon is aggressively pursuing an operating expense (OpEx) savings target of $5 billion by the end of 2026.

The telecom provider has also set an ambitious target of $1 billion in operating cost synergies by 2028.

As Verizon absorbs Frontier’s merger and expands its fiber footprint to almost 30 million passings, the company is also prioritizing automation to manage the expanded network, albeit with a smaller human headcount.

“We have begun to see meaningful cost benefits from our transformation efforts as we take out legacy structural costs from the business,” said CEO Dan Schulman during the call.

Skiadas detailed a relentless strategy to permanently remove $5 billion from the company’s annual spend.

“We’re off to a great start on the $5 billion of cost transformation,” Skiadas told analysts.

The strategy is multi-layered:

Workforce reduction: The 13,000-plus layoffs since October 2025 are the primary driver of savings. Skiadas noted the company is “running leaner” and is cutting “third-party contractor and outsource spend” to keep savings in line.

Legacy decommissioning: Verizon is decommissioning old copper network elements, recycling and “monetizing” them by selling scrap metal.

Real estate rationalization: As the workforce shrinks, the company is also reducing its real estate footprint across administrative and network sites.

The most vital aspect of Shulman’s turnaround is the AI tech stack sprint, designed to address customer pain points by automating digital sales and service.

Verizon, through these AI-enabled channels, aims to lower the cost of retention while defending its customer base.

Schulman, who has usually been upfront about AI’s role in the future, told investors that the company is on a timeline that would have been impossible a year ago.

“We are going to be substantially complete with that entire AI tech stack by July, and we hope to be fully done by November,” he said on the call.

To hit this mark, the company has recruited several “AI-savvy individuals” over the last seven months, adding that “we’ve done more in the last three months than we’ve done in the last three to four years around this.”

Verizon’s stock is up 15% year to date.

The Frontier factor and Verizon’s record profits

The May layoffs coincide with Verizon’s most successful quarter in recent years. According to the company’s recent Q1 2026 financial release, Verizon achieved its first positive first quarter “postpaid phone net adds since 2013.”

Its adjusted EPS also rose to $1.28 per share, a 7.6% year-over-year increase.

By integrating Frontier’s fiber network, Verizon expects at least $1 billion in annual cost synergies by 2028. This merger allows Verizon to stop paying third-party access costs and automate its network management, albeit now with a significantly smaller headcount.

Analysts, meanwhile, remain divided. Morgan Stanley recently raised its price target on Verizon to $50 from $40, keeping an equal weight rating. Noting the improving subscriber growth and competitive intensity in wireless was “encouraging,” the firm said.

However, Este Group downgraded Verizon to hold from buy, saying the company’s earnings growth still lags behind the broader sector average, according to TheFly.

As Verizon works to complete its AI tech stack by July, the company’s message is clear that it intends to continue this cost transformation well beyond 2026.

https://www.thestreet.com/employment/verizon-ceo-cuts-to-the-chase-new-layoffs-ai-future

Why is there rumors of SM energy buying chevron assets in Colorado lol, SM energy is in debt acquiring Civitas I don’t think they will be buying anything for a good while. Besides chevron I feel like has invested way too much in this area that SM energy won’t be able to afford what they ask.

PNC Financial Services announced nearly 1,000 job eliminations. These cuts are linked to its acquisition of FirstBank. Colorado credit unions criticized the layoffs. They launched a virtual job resource center for affected employees. The GoWest Credit Union Association coordinates this support effort.

Denver, Colorado

https://www.cutoday.info/Fresh-Today/Colorado-Credit-Unions-Launch-Hiring-Effort-After-PNC-Layoffs-Hit-FirstBank-Employees

There’s been a lot of speculation lately around the company’s direction — reduced benefits, PTO changes, restructuring, workforce reductions, and broader efforts to improve financial performance have naturally fueled conversations about potential strategic moves. Acquisition rumors around NetApp aren’t new and seem to resurface every few years, but the current environment has people paying closer attention than usual.

From my perspective, the bigger concern is long-term growth and leadership’s ability to scale the business meaningfully beyond its current trajectory. With another round of layoffs expected next week followed closely by earnings, it’s understandable why employees and investors are reading into the timing and looking for signals about what may come next.

So the stock spiked to mid 120's and I see rumors of someone wanting to .... erm... what's this BUY netapp.... ffs who would be D-MB ENOUGH??

"There's some takeover speculation around NetApp (NTAP), according to a Betaville "uncooked" alert circulating among traders on Thursday. It's not clear which company is circling NetApp. " (MSN)

However d-mb, it does put some of the last few years behavior into some sort of narrative that makes sense. Have they been preparing and putting lipstick on for two years now?

BioMarin Pharmaceutical is implementing workforce reductions. The company will eliminate 58 jobs. These cuts are at Amicus Therapeutics' Princeton headquarters. The layoffs are scheduled from August 7 to October 30. The action stems from BioMarin's acquisition and overlapping roles.

Princeton, New Jersey

https://njbiz.com/biomarin-cuts-amicus-jobs-princeton/

Oracle purchased Cerner for $28.4 billion in 2022. Oracle mainly wanted Cerner's federal agency agreement. The company laid off many workers. The North Kansas City Cerner campus closed. The VA's record system modernization faces huge expenses.

https://www.iolaregister.com/opinion/columnists/oracle-made-a-kc-success-story-a-cautionary-tale

Infra Pipes will close its Albuquerque, New Mexico plant. This facility produces high-density polyethylene pipe. The closure will result in 51 employee layoffs. Infra Pipes recently acquired this plant. It was part of a purchase from Atkore Inc.

Albuquerque, New Mexico

https://www.plasticsnews.com/end-markets/construction/pn-infra-pipes-closing-albuquerque-plant/

The Taubman Co. is closing its Bloomfield Hills headquarters. It plans to lay off 105 employees. These actions will take effect on January 9. This follows its recent acquisition by Simon Property Group. Simon Property Group finalized the remaining interest on November 3.

Bloomfield Hills, Michigan

https://www.aol.com/articles/mall-developer-taubman-permanently-close-193712165.html

5/14/2026 12:00:00 PM

Deal includes Chevron assets in Vietnam, Australia, Philippines, Malaysia
Deal expected to close in 2027

Chevron divests Asian refining assets to streamline operations

Eneos aims to boost overseas sales share to over 50% by 2030, CEO says
Eneos Holdings said it will buy U.S. major Chevron's 50% stake in Singapore Refining Company and other assets in Southeast Asia and Australia for nearly $2.2 billion, in its first refining foray outside of Japan.

The deal, which includes Chevron's assets in Vietnam, Australia, Philippines and Malaysia, is expected to close in 2027, Eneos said. Chevron has been looking to divest refining and storage assets in Asia to streamline operations and reduce costs.

"This investment represents a significant step in strengthening the business platform that connects Japan with Southeast Asia and Oceania," said Eneos Holdings CEO Tomohide Miyata.

Eneos operates nine refining complexes in Japan including a joint venture with PetroChina.

Chevron divestment. SRC operates a 290,000 barrels-per-day refinery in Singapore and the other half of the company is held by PetroChina 0857.HK through its subsidiary Singapore Petroleum Co.

"The agreement reflects Chevron's disciplined approach to managing its international portfolio," said Andy Walz, president of Chevron's downstream, midstream and chemicals.

The SRC stake sale is the second major refinery deal in the Asian oil hub after Shell sold its Bukom refining and petrochemical complex in 2024. Chevron previously sold its Hong Kong retail stations to Thai refiner Bangchak Corp. Corp for $270 million.

The latest sale includes Chevron's Penjuru terminal and lubricants facility in Singapore, which has a storage capacity of around 400,000 cubic meters, roughly equivalent to 2.5 million barrels of oil.

Taking over a fuel terminal in one of the world's largest oil storage and blending hubs will expand Eneos' trading capabilities, especially in refined fuel, analysts said.

"It will be an important strategic move for Eneos to grow downstream given its domestic market in Japan is saturated and expected to decline," said Sushant Gupta, Wood Mackenzie's Asia Pacific refining and oils research director, a reference to Japan's long-term decline in demand owing to a shrinking population.

"It is not just the refinery but things that come along will be the deal sweetener."

Morgan Stanley was appointed by Chevron to handle the sale of the refinery stake and other assets in Asia.

Eneos eyes more overseas M&A deals. Eneos is looking to widen its overseas operations via the purchases from Chevron, while looking at other buys.

"With regard to our overseas operations, which currently account for just under 20% of sales, we intend to use this M&A as a catalyst to significantly expand this share - including through future growth in our trading business - with the aim of raising it to more than 50% by fiscal 2030," said Eneos' Miyata.

He said he did not believe the latest acquisition of assets from Chevron alone would be sufficient to achieve that goal.

"We aim to reach the target through future overseas M&As, and we are already taking steps in that direction," he added.

https://www.hydrocarbonprocessing.com/news/2026/05/eneos-to-buy-chevrons-singapore-refinery-stake-asian-assets-for-22-billion/

That might complicate business for Nike since biggest team dealer for Nike is BSN (overwhelmingly) and they are already part of KKR.

So KKR will own UA and do business with NIKE. Will they be fair with Nike or use Nike while they support their own UA. That is intriguing.

Once again, Nike in their hubris went around closing almost all of the independent team dealers. And pivoted all of the Nike's team business with BSN. Another brilliant march towards corner by our smart former CEOs MP and JD. They thought that they will maximize the profit if they deal with one big guy. Hmmm....yes but if that strategy turns against you then it might ki-l you too. LOL
BSN has already been producing their private label apparels. And if it gets supported by UA then they don't need Nike.
One time, I talked to former BSN VP and he was not too happy that they have order too much futures because Nike demands it therefore eating their profits. Maybe they won't be forced to order too much futures with UA that owned by KKR.
Since Nike has no other option, they might have to continue to do business with BSN even if they emphasize on their own brands.

One of the scenario is that they might sever ties with Nike and go exclusively with UA.
That would be devastating to Nike since Nike don't have anyone as big as BSN when it comes to team items. Eastbay had team business but they have closed their business.

And I don't know how Nike will combat KKR if it really happens since Nike is pauper compared to KKR. Yes, KKR has more money than GOD.

That was brilliant MP and JD. It was your fault

Currently, BSN is serving Nike's key high schools like Mater Dei, St. John Bosco, de la Salle on behalf of Nike, all over the USA. They might try to sign those school for themselves.
Once again, KKR has more money than God. And in addition to it Nike stock is totally depressed now and losing their shirts in China (3 billion feet). I am not sh-t talking it is in today WSJ.

Nike is currently a company that has Plan A but no Plan B nor Plan C. Why? Becuase they ki-led them all. The little account that is.

As SAPPHIRE '26 wraps up, look for merch and rebranding swag being given away. The company is now SAIP! All in on AI.

A yet still weirder acronym than SAP ... so I checked on its meaning:

Systems Acquisition and Implementation Program?
Substance Abuse Intervention Program?

God, I miss J White's marketing genius.

That was about 8 or 9 years ago.

I wonder if ROSS, MARSHALLS AND TJ MAXX has been added to strategic 40 accounts.

I know Nike is desperate but I wonder if Nike people count above as important accounts.

That is curious

As for the little account that Nike close? will not come back. Anyone with right mind will not open a new brick and mortar store.

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.

What are the chances CDW goes private again or gets bought out by a larger company or private equity group?

What's the most likely outcome ? Just a content only company ? Bought by PE? A collapse ?

https://apple.news/Ay_ISb-khQx221ZuzQORlIQ

Shell cut a large portion of its IT workforce in Bangalore for a reason. Yet RB and LC apparently thought it made sense to bring in the leader who built Shell’s India data and analytics group, even though that role was eliminated during Shell’s own layoffs. Now we are watching that same leadership rebuild the team by hiring former Shell India employees into Chevron.

Etain LLC's Chestertown ca--abis facility is closing. This will lead to 37 job losses. A WARN notice was filed with the Labor Department on May 5. All affected workers will lose their jobs in August. Etain is part of Fluent Corp., which Vireo Growth is acquiring.

Chestertown, New York

https://www.timesunion.com/business/article/etain-chestertown-ca--abis-layoff-notice-22252658.php

Any chance the last two CEO’s were planted by the investors? They both run this company like they want to bleed it out and then sell it to someone who may have pushed for them to get to the top.

Sold 2 states already that they got from Frontier. Heard 3 to 6 more for sale. All in north Central Part of country. Small footprint lots of rural customers. Money being shifted to California and West Virginia

Topgolf has announced layoffs affecting an unknown number of workers. The impact on Louisiana locations remains unclear. Reports suggest hundreds of employees were dismissed nationwide. This follows the company's acquisition by private equity firm Leonard Green. Departments like sales and operations were affected.

https://973thedawg.com/topgolf-layoffs-lafayette/

Anyone hear anything on when we will get the retention bonus now that the sale is through?

We’ve definitely been sold to either Goldman or JPM.

It’s just a matter of time now before they announce the sell and layoff of full business units.

Full decimation soon.

And who would have the means and motive?

Fifth Third Bancorp plans a mass layoff. It will affect 502 workers. These employees are at a former Comerica campus. The campus is located in Farmington Hills, Michigan. Fifth Third acquired Comerica Bank three months ago.

Farmington Hills, Michigan

https://www.freep.com/story/money/business/2026/05/08/fifth-third-layoffs-metro-detroit-former-comerica-site/89997647007/

The company is attempting to be hush-hush about this, but my (soon to be ex) co-workers are announcing on LinkedIn. Last day in the office is today for some.

This entire industry (ev charging) is cooked. All players are trying to get acquired by either an (ev) auto manufacturer or an energy company (like a Shell) increasing footprint in the ev charging space.

The stock fell 44% in a year. 33% in the last 6 months. This company is going down or getting sold in the near future.

Lumber Liquidators will close its Sandston, Virginia distribution center. The permanent closure is scheduled for June 30, 2026. This action will affect all 65 employees at the site. The company was recently acquired by Bed Bath & Beyond, Inc. Lumber Liquidators is also moving its corporate headquarters and warehousing to Tennessee.

Sandston, Virginia

https://hbsdealer.com/lumber-liquidators-dc-closing-virginia

I find it unbelievable how many VP's Optum has. One thing I learned was that when Optum acquires a company they assign them a title based on the money that they made in their last company. Hence, so many people having titles that significantly outrun their skills. Optum's VP's are a great example.