#corporateaffairs

If Verizon converts a majority of its stores to indirect, the company will end up relying even more heavily on corporate business account managers to drive revenue. The problem is they are simultaneously putting increasing pressure on the very people carrying those revenue streams.

From the outside looking in, it feels like Verizon is stretching and stressing the core pieces of the business instead of strengthening them. That is not a sustainable long term strategy, and it is hard to see it ending well for the company if things continue in this direction.

Fraud lawsuit against Intel to steal personal data of millions of Americans

https://brownrudnick.com/client_news/brown-rudnick-on-behalf-of-200-plaintiffs-files-fraud-suit-against-intel-claiming-hundreds-of-millions-of-dollars-in-damages/

Company has joined other major corporations in implementing a mandatory 5-day return-to-office (RTO) policy, which some view as a strategy to encourage voluntary attrition essentially a "soft layoff”.

Recent reports suggest that the number of employees choosing to leave following this mandate has been lower than expected, leading the company to evaluate additional measures for workforce reduction. These potential "other options" may include involuntary separations, employee engagement responses, or "hard layoffs." While the company continues to monitor office attendance as part of performance reviews, there are currently no specific details on which business units will be impacted or the exact timing of further restructuring.

#RTO #Workplace #Career #CorporateLife #MandatoryRTO #CompanyCulture #QuietFiring #SoftLayoffs #EmployeeEngagement #WorkLifeBalance

https://www.xe.com/currencycharts/?from=USD&to=INR&view=5Y

The higher that goes on the chart on the right?

The cheaper indian labor is for a US corporation.

India in particular is experiencing currency collapse and this does NOT work in your favor.

Its over 30% cheaper to pay someone in india than it was 5 years ago. This means that you either need to be 30% more productive or bring in 30% more in revenue, else the bank is losing out on the labor triage (they are taking a loss by keeping you).

You can NEVER outrun currency devaluation - the differentials are just too great, the opportunity for cost savings are MASSIVE, and the executives are incentivized to make stock go up by ANY means.

Charlie chose specifically to be paid if the stock goes up.

"Show me the incentive, I will show you the outcome" -- C. Munger

If getting rid of 80000 employees means his options vest in the money? Its a no brainer what he will choose to do.

And there are zero US labor laws to stop him.

It also means that your career is dead at this bank - stop working so hard, stop worrying, re-skill into something that cannot so easily be off-shored and just wait for your severance package.

What's going on today ?

Looks like Pete decided to depart for family commitments just 2 days after the DOJ wanted to depose him, I guess a golden parachute is better than an orange jumpsuit! This is not the same as the other CMS pending case for failure to comply with reporting and the nearly billion dollars in historical payments being set aside.

https://www.beckershospitalreview.com/legal-regulatory-issues/elevance-senior-executive-fights-doj-deposition-bid-in-medicare-advantage-fraud-case/

“According to an April 27 letter filed with the court, the government said it first contacted Elevance about deposing Mr. Haytaian on Feb. 24, two days before the company announced his departure.”

“The MA case in which Mr. Haytaian is being asked to testify was originally filed in 2020. The government alleges Elevance (then Anthem) violated the False Claims Act by knowingly failing to delete inaccurate diagnosis codes it submitted to CMS for risk adjustment purposes, instead using a retrospective chart review program to identify additional codes that could generate higher MA payments. The complaint describes the program as “a cash cow” that generated more than $100 million per year in additional revenue during certain periods.”

We have decided to bring HR, Legal, Compliance and Corporate Affairs together under Keeley Aleman in an expanded role as Waters General Counsel and Head of Global Human Resources.

We are grateful for Cheryl Kennedy’s leadership and contributions over the past year, as she helped support our people and advance our HR strategy during an important period for the company. Cheryl has left Waters and we wish her the very best.

Who in their right mind would “bring HR, Legal, Compliance and Corporate Affairs together?”

Heard they are getting rid of all USC agent stores by July 31. Are they doing the same with their corporate doors? Seeing a lot of folks from USC moving into director roles with TMO

It’s so funny, corporate is such a game

https://newsroom.wf.com/news-releases/news-details/2026/Wells-Fargo-Helps-Drive-Growth-in-West-Charlotte-with-6-Million/default.aspx

Workers who fall for ‘corporate bullsh-t’ may be worse at their jobs, study finds

https://www.theguardian.com/business/2026/mar/23/corporate-speak-study

Does anyone know when they plan to finish moving corporate risk into hubs? They mentioned most of it was already in hubs during the December townhall — what’s the status of the rest?

Has anyone else been contacted by a corporate auditor about everyone in the Permian cheating on the entry exam at XOM? I am still trying to understand the benefit of superintendent’s having hat contractors cheat on the test. If you want quality employees you would think you would want people that can pass the test without cheating.

Getting word that layoffs will be ramping up before corporate bonuses are set to be announced and paid out. If you are let go before the bonus actually hits your direct deposit, then you will get absolutely nothing for enduring last year. Heads up and brace yourself for once again another large round of layoffs. Meanwhile, all the VPs and above are getting extra perks their way (trips, special luxury gifts, stock).
Additionally, if you are fortunate enough to stay, your annual compensation review will probably be on existing since they’ve forced all management to not give high employee reviews to prevent low incentive increase and lowest bonus payouts.

30-35% from what I hear, mostly those with over 5 years service.
OP: @d1+1kh7va1kv

Why go after trained and experienced people in Corporate? Wouldn’t it be logical to cut newcomers first?

Let that sink in.

That is correct it’s 16,000 people to be let go.

I just got fired from Walmart.
I am looking for a stable organization with fringe benefits and a great salary.
I've worked as a cashier for 22 years and ready to make it up the corporate ladder.
What time should I send my application to?

I wouldn’t put it past Belk corporate to put corporate spy’s in belk stores. We have new employees who are acting like cheerleaders for belk and have been with the company less than one or two years. It’s bizarre. They are in lead, HR, asset protection, and key holder positions. They seem overly happy with belk and will say nothing negative, everything belk is doing is for the good of the company, associates, and customers. It’s almost like they are brainwashed. Please comment below if you are encountering this in your store location.

Another major corporation is bringing back 5x8.

This sounds a lot like a Verizon cutbacks which are contributing to this current trend. November and December cuts will likely be no better.

Job cuts surge in worst October layoffs in 22 years.

Nov. 10, 2025, 12:47 p.m. ET

Propelled by cost cutting and the growing adoption of artificial intelligence, employers slashed more than 150,000 jobs in October, the largest wave of layoffs in more than 20 years, a report from Challenger, Gray & Christmas said Thursday, Nov. 6.

Seeking to cut costs, technology companies shed the most jobs, followed by the retail and services sectors, the outplacement firm found. Amazon, UPS, Microsoft and other firms have recently announced layoffs.

In what could be another sign of a softening labor market, October layoffs jumped 175% from a year ago to 153,074, the highest level since 2003, Challenger, Gray & Christmas said.

"Some industries are correcting after the hiring bo-m of the pandemic, but this comes as AI adoption, softening consumer and corporate spending, and rising costs drive belt-tightening and hiring freezes," Andy Challenger, chief revenue officer for Challenger, Gray & Christmas, said in a statement. "Those laid off now are finding it harder to quickly secure new roles, which could further loosen the labor market."

Job cuts so far this year have soared to more than 1 million, a 65% increase from last year at this time, driven by what Challenger, Gray & Christmas called the "DOGE Impact" – mass reductions to the federal workforce and government contractors as well as the loss of federal funding to private and nonprofit entities.

Year-to-date layoffs have reached their highest level since 2020, when there were more than 2 million job cuts through October. This has been the worst year for announced layoffs since 2009, Challenger, Gray & Christmas said.

Challenger, Gray & Christmas said it was surprising to see such a large wave of cutbacks in the fourth quarter, when firms typically shy away from announcing layoffs.

What’s more, more companies announced job cuts in October, Challenger, Gray & Christmas said. The outplacement firm tracked 450 plans to cut jobs, up from less than 400 in September. That tops March, which saw the largest number of job cut announcements at about 350.

"At a time when job creation is at its lowest point in years, the optics of announcing layoffs in the fourth quarter are particularly unfavorable," Andy Challenger said.

With official data gathering suspended during the government shutdown, investors are paying close attention to data from private sources like Challenger, Gray & Christmas to understand what is happening in the labor market.

Federal Reserve officials have expressed concern about the job market and the central bank has lowered its benchmark interest rate twice since September. The move brought the Fed’s benchmark interest rate down to a range of 3.75% to 4%. Some economists think another cut could come at the Fed’s December meeting, though Federal Reserve Chair Jerome Powell has said a third straight reduction is not guaranteed.

Labor market watchers downplayed the Challenger, Gray & Christmas report, saying the firm has historically been a "poor predictor of future labor market conditions."

"But against the backdrop of a low-hire labor market this bout of corporate job-cutting does represent a bigger labor risk then the 2022 tech layoffs, when these workers were quickly scooped up by other industries," Vanguard said in a statement. "However, we ultimately expect that persistent labor supply constraints over the next three years will help offset the unemployment impact of cyclical and technological pressures."

https://www.usatoday.com/story/money/2025/11/06/october-job-cuts-surge-worst-layoffs/87127775007/

Confirmed from someone in finance and HR. AI, moving many jobs to India, and new leadership found many teams doing similar work.

Wish you a merry Christmas. Hope your children enjoy my daughter’s presents and your husband appreciates my family’s turkey. We love you in the trenches. Make a few more mince policies.

I'll go first: "Let us operationalize cross functional synergies to maximize stakeholder value."

Two days after Black Friday and we are told we are having a corporate visit December 3
This is a rouse to get the store cleaned up with almost no one working 🙄

I have been with the company for decades and discovered that ranking is more about your role than anything else. I would love it if the corp would post ranking data in the data lake. The bias would be very easy to spot using data analytics tools.

since hans is on as special advisor for another year, will he still run ?

Anyone familiar with previous instances of corporate -> indirect transition timelines? With this large of scale I’m assuming it’s going to take a few months of wave rollouts but I could be mistaken.

One of the things I really miss about corporate life is playing the “which, if you’re unfamiliar with it, is where you go to meetings with the express intent of taking zero actions whatsoever. And if you’re thinking, what is this corporate lingo, then an action is something that you actually have to do. And you might think, “Well, isn’t that the whole point of work, that you actually get stuff done?” To which I would say, “No, foolishness!” You’re too busy attending meetings at which you’re avoiding actions to actually have time to do anything.

So how do you avoid taking any actions? Well, you might think, maybe just don’t show up to the meeting, which would be a terrible strategy, because then the people at the meeting will give you all of the actions, and you hear about it later. So that’s a rookie mistake. There are a variety of strategies for avoiding taking actions, one of which is to just remain perfectly still. This is the Jurassic Park approach. You hope that if you just don’t move, the dinosaur won’t see you, like this. But sadly, the dinosaurs often do spot you, so it’s not a good strategy.

A much better strategy is to constantly be positive in meetings and compliment people, saying things like, “That’s a really great idea!”, “I just wanted to double down on that point…”, “I completely agree!” or “Let me just build on that…”, because that gives people the impression that you’re contributing to the meeting without actually contributing anything.

There is a risk, though, that at some point an action will start to come your way. You need to spot that and head it off quite quickly. You do that by saying things like, “We’re just so busy right now,” or “My team just don’t have the bandwidth,” or even a kind of inferred threat where you say, “We’d have to deprioritize some of our strategically aligned work.” That usually stops them.

You might think that leaders of these meetings would get very frustrated with everybody avoiding taking actions, but they don’t, generally, because that’s how they got where they are, by being very good at giving the impression that they’re doing something whilst at the same time not actually doing anything whatsoever. And I know you’ve got this lingering suspicion: in that case, how does any work actually get done? Well, good question.

The answer is, you give it to somebody else to do. If you have budget, you lodge that with a third party, a vendor, who can actually do the doing, and then you take the credit for the doing. But if you don’t have budget, then you just kind of moan incessantly about not having sufficient budget. “My team doesn’t have enough budget.” “We just don’t have the budget to get anything done this year.” That ensures that you can continue attending meetings where you avoid taking any actions but nevertheless give the impression that you’re actually doing work.

https://www.theguardian.com/environment/2025/nov/03/exxon-funded-thinktanks-to-spread-climate-denial-in-latin-america-documents-reveal

Correct me if I'm wrong, but did Dan just add another C level position and fill it with a former colleague from paypal? Leadership at its BEST!

Looks like Verizon is serious to improve its image and how it’s getting perceived by stakeholders and customers

Tearing this bi--h down to the studs ya’ll. It ain’t the company it was 5 years ago. He-l, it’s not the company it was 5 months ago. Welcome to the soulless corporate su-k.

https://www.youtube.com/watch?v=VEA7vQKJ8aQ

Corporate Communications sent an email to our location today asking for us to send in submissions about how we’re living the WELL life at Wells Fargo.

Really? You ask this now?

Even if you think those of us upset about the 8 hour thing are being whiny, you have to admit that sending out something asking us for a testimonial about the great Wells Fargo RIGHT NOW is pretty laughable.

How many of the incompetent ch-des in Corporate Communications are they letting go of?

Simple. How’s Apache doing today?

8 and SKATE, IT CAN WAIT. GO team. Rah rah.

Mental games are highly encouraged across all facilities—because who doesn’t love a good game of corporate chess?

Employees who show off their stewardess skills in decency, manners, and hard work will be the first to get thrown under the bus when the going gets tough.

Only individuals with big egos, big trucks, and tiny pennies will be hired, promoted, and given extra perks, regardless of how long they've been around.

Pedigree is more important than actual skills. If you come from a GOOD family, you're set for a bright future here.

If you're the type who values morals, ethics, and honesty, be ready to be shown the door—or a vicious "firing squad", if you can back it up with solid evidence and/or science. If you're too smart for this place, academia is calling.

This is a hard, cold and relentless place of business. If you disagree, feel free to join a mission in a third world country and see how far that takes you.

Conscience extraction procedures will be fully covered by your health plan—no co-pays required.