#layoffs

TCS , the named outsourcing for the core IT infrastructure teams at Lyondebasell, in an effort to reduce cost due to a CEO thats has shamelessly destroyed a vibrant company with unneeded loans, closed plants and a business model that is ridiculously unsubstantiated, has proven during a "transition" period, to going to cost more jobs, less productivity, poor service, and downtime. This Indian based company is typical of a CEO, CFO, CTO and certain directors that have little to no knowledge of IT outside of the buzzwords they learn on Google. The dumpster fire that is management has reduced a prosperous company and great place to work to a steaming pile save-my-a-s ELTs and SVPs with below sub-par entry level at best outsource contractors.

1 on 1 with my manager today and he made 2 comments:

• Confirmed another round of US cuts the first week of December.

• No input on who will be cut from the lower levels - higher execs making the decisions based on whatever metrics they see (which are usually garbage).

Enjoy Thanksgiving because you may get roasted that first week if December!

Riffs afoot. Ditch the human element, instead let AI write Nike comms. MG wasted no time.

Verizon reported $33.8 billion in total operating revenue for the third quarter of 2025, not $34 billion in profit. Its consolidated net income (profit) for the quarter was $5.1 billion.
Verizon is currently in the process of reducing its workforce as part of a voluntary separation program and wider cost-cutting initiatives:
Job Reductions: In September 2024, Verizon announced a voluntary separation program for approximately 4,800 U.S.-based management positions as part of a cost-saving plan aiming to save up to $3 billion by 2025. Over half of these employees were expected to leave by September 2024, with the remainder departing by March 2025.
Technician Layoffs: The recent job cuts primarily targeted management positions, not specifically technicians, although overall headcount has been shrinking across the company and industry due to automation and digitization.
Financial Context: Despite strong quarterly revenue and profit, which actually increased year-over-year, the company has significant long-term debt (net unsecured debt of $112 billion as of Q3 2025) and operates in a highly competitive market. The cost-cutting measures are part of a broader strategy to manage debt, improve operational efficiency, and remain competitive.
The decision to cut jobs despite high revenue is a strategic business move aimed at long-term financial health, operational efficiency (partially through automation and AI), and managing a large debt load, rather than a reflection of immediate financial distress.
What a bunch of Dou--e Bags!!!

Indeed, Zip Recruiter, LinkedIn, Monster! Keep applying the reality will hit soon. No transferable skills. No keeping current. Just gliding along. Thinking it would last forever. Enjoy those checks while they come in. The merger may be in 2027, but they arent going to merge the whole wagon and then start evaluating cuts. Skyworks is not paying out severance packages. Clear that noise from any future considerations. And if you live in one of those places with no semiconductor companies around, well I guess there is always coding like Joe said! Karma for every poor soul that got su-kered into working for the failed merger of RFMD and Triquint and lost their positions due to poor business management!

All these layoffs su-k. They absolutely su-k. But I think in time for those of us still here, it’ll eventually be OK. I just hope these layoffs don’t start to tear away at the culture.

https://archive.ph/Fj2c0

Over the past year, I’ve watched some of the most hardworking and impactful people on my team be let go. At first, I didn’t understand why morale across the organization felt so low... but now I do (sigh)

It’s hard to stay motivated when it feels like merit and dedication don’t matter. The people who consistently overdeliver, who take ownership and push projects forward, are the ones being cut. Meanwhile, others who do the bare minimum remain and often get the credit.

So if performance and impact aren’t the criteria for layoffs, then what is?
Is it tenure? Favoritism? A random lottery? Because from where many of us stand, it certainly doesn’t look like the decisions were based on contribution or capability.

Did they start?

Yes more layoffs confirmed 4th quarter some notices already went out. Jobs going overseas.

Ally Financial had layoffs today, impacting about 2% of employees as part of workforce consolidation and process optimization (oh, this sounds so official). Ally is shifting teams and focus... it's reorganizing its structure let's say they are seeking "efficiencies". The comms are out - I know some in Charlotte were among those affected.

The cuts are mostly concentrated in upper and middle management w/managers + above most impacted, they hammered folks with no dir reports (or low # of dir reports). Some folks claim that that some groups began seeing cuts on Halloween Friday, but that has not been confirm and most folks did not hear about it...

Last Friday someone spilled the beans ahead of time, see @OP+1k8x5qazb and pretty much was 100% on target.

This round of layoffs is now over, you can go to your cube and relax until the next layoff event which is certainly almost behind the corner.

Good luck all.

We are topping layoff lists today, that's not something to be proud of:

https://x.com/TheLayoff/status/1985454875577369063

Annual Nov layoffs on the way?

Confirmed, saw a couple of ex colleagues on Linkedin being laid off recently from SAP Fieldglass, QA Team, based in London

Are they quietly letting people go without saying anything publicly, trying to keep the layoffs under the radar and out of sight?

Have you been told your fate? Please share when it was communicated to you.

Since it is November, let's see when they start communicating out.

Thanks

On 3 Nov approx 400 people across multiple functions and lines of business were laid off

Seems they sold their souls a while back

Just got a note to meet up with my manager tomorrow. Is the axe about to drop…. Anyone else get impromptu meetings set up for tomorrow? In cloud.

If you were smart you would all use your sick time before November 20th. You wont get paid out sick time if your laid off.. might as well use it. I suspect this is what one of my trainers did. They said he's taking some time away from the business and they don't know when he will be back lol

Corporate employees will there be a restructure happening? And any updates on mandating in office days?

SP500 up 20 percent YOY. SOLV down 6 percent YOY. Looks like Nellies plan to "unleash" value from SOLV by spinning off filtration and chainsawing off 1000s of jobs is a smashing success (not!)

I guess adding layers of outside hires at VP levels, mainly cronies, doesn't grow the bottom line. Nor does firing the worker bees just to meet Peltz expectations.

Earth to Peltz! Layoff off Bryan, sell your shares, and return to your Florida yacht for retirement. The beaten down masses will take it from here.

This leader really nailed it and I think this will help everyone who is anxious about the layoffs coming in 17 days.

https://fortune.com/2023/09/25/verizon-ceo-hans-vestberg-rank-mood-leadership-advice/

Have anymore layoffs been announced today?

Approx 15% company being laid off

Anyone else concerned that upper management will use all this green time between calls as an excuse to prove are roles are no longer needed?

I can't understand why they're still implementing mandatory overtime and voluntary overtime when MC is hardly getting calls.

Front line is also being directed not to call us with this red light signal. It all seems very strange for a company this large.

Any word on if, when and where?

New Paramount Skydance Senior Management (DE/JS) made a big stink of saying that they want to be one and done. The next thing we know this has now turned into another round of 1,000 layoffs. Maybe the next cycle is a focus on International, maybe it something else. It would truly be wonderful if the Senior Leadership of this company could enlighten us a bit since they were the ones that put the "one and done" out there. Don't really want to have to be thinking about this 24/7 as we approach the holidays. Maybe someone can tell the new Head of PSKY Human Resources to truly do the "human" thing and provide some guidance here. They set the expectations on this in August, not us. And now here we are again...

FInance undergoing major upheaval targeting 25 % and being achieved via force rankings to avoid severance payments. How is this legal? Nevermind unethical but Dermie doesn't really care.

People are getting fed up and just leaving too. Shame on the managers that don't have a backbone and push back. Note to managers, you are next to go, Karma is a bi--h.

When large companies start cutting jobs to protect profits, it doesn’t just affect their workforce, it impacts consumer spending, confidence, and entire communities. Moves like this from major players like Verizon only push us closer to a recession.

Big corporations may be tightening their belts, but it’s the everyday workers who end up paying the real price. Verizon always on the forefront of these big moves.

Many of us rely on discounted service plans but with a big population being laid off, make no mistake that they will leave this plan and go to a more affordable carrier.

Jassy tried RTO as incentive to leave. Employees were adamant they'd leave in droves. Those who said they'd leave didn't follow through and betrayed everyone else. There was no meaningful uptick in attrition after RTO. What other options does Jassy have to reduce the bloat?

https://www.infowars.com/posts/busted-big-companies-get-workers-from-h-1b-only-posts-on-underground-indian-job-board

Please, somebody, tell me I'm wrong.

Does anyone have any insights on the COO leaving? Is she training Accenture to do her job too? I never thought they'd let her slip away given hiring goals.

Story by Justin Lahart

Corporate America has ended its firing freeze.

Companies scrambled for years after the pandemic to build back their workforces, learning a simple lesson along the way: Keep the workers you’ve got, because if you lose them you will have a hard time getting them back.

The job market has softened in recent months, however, marking a safer environment for companies to start streamlining their workforces. A host of them have pounced, including Amazon.com, UPS, Target and Meta Platforms, which have announced tens of thousands of layoffs in recent weeks.

It is a shift that could have major repercussions for U.S. workers. Over the past two years, U.S. businesses have become increasingly reluctant to bring new employees on, especially as more recent uncertainty over the direction of tariffs made it harder to plan ahead. But they have also been hesitant to cut the employees they already have, an example of what economists term “labor hoarding.”

The result has been a low-hire, low-fire environment, in which recent graduates and others trying to break into the job market have struggled, but workers who are already employed have been largely insulated.

Now things are looking a bit more like the 1990s, when many big companies were focused on eliminating workers they felt were no longer needed, according to Joseph Brusuelas, chief economist at RSM.

Back then, “we used to reward companies for letting people go,” he said

A number of things could be at play in companies’ increasing comfort with layoffs, including optimism over artificial intelligence, but they all come down to the bottom line. Labor is a major cost, and cutting it is one way to bolster profit margins. Tariffs could be adding to the urgency, especially for companies weighing whether and how to pass through the higher costs they are paying for goods on to consumers.

Some companies also added to their payrolls as they moved to keep up with the surge in demand that came in the pandemic’s wake, and may now feel that they are bloated. Amazon had about 800,000 employees at the end of 2019, and about 1.5 million at the end of last year.

In a memo to staff last week explaining Target’s plan to cut 1,800 corporate roles, incoming chief executive Michael Fiddelke said, “Too many layers and overlapping work have slowed decisions, making it harder to bring ideas to life.”

It probably helps, too, that investors have appeared to welcome job cuts. Target’s stock edged up on the day it announced layoffs. When Amazon on Tuesday said it was laying off 14,000 workers, with more to come, its stock rose 1%. When UPS disclosed it had cut 48,000 management and operations positions when it reported earnings on Tuesday, Wall Street’s focus was on its strong results, and its stock rallied 8%.

Nor are companies any more in an environment where hiring back workers would be anything like the struggle it was after the economy began to reopen from the Covid crisis. Then, workers could largely pick and choose between competing offers.

The unemployment rate, which fell to a multidecade low of 3.4% in April 2023, was 4.3% as of August. Many Americans are operating under the assumption that the jobs picture will get worse: 64% of consumers polled by the University of Michigan this month said they expected higher unemployment over the next 12 months, compared with 32% in October 2024.

One risk for the broader economy: In an environment where employment growth is already low, any increase in layoffs could lead the economy to start shedding jobs. In August—the last month of available data before the government shutdown delayed Labor Department economic releases—the U.S. added just 22,000 jobs.

Whether the recent run of layoff announcements augurs a downturn in the job market isn’t clear, said Jed Kolko, senior fellow at the Peterson Institute for International Economics. While those layoff numbers are eye-catching, they don’t necessarily reflect what is going on in a labor force of over 170 million people, he said.

“You need the whole picture, and that whole picture comes from data that are not being released during the shutdown,” Kolko said.

For companies, enthusiasm over the possibility to automate more work with AI is also playing a role. The Federal Reserve’s latest beige book, which compiles economic anecdotes from the 12 regional Fed banks, reported that more employers were reducing head counts through layoffs and attrition “with contacts citing weaker demand, elevated economic uncertainty, and, in some cases, increased investment in artificial intelligence technologies.”

While there is evidence that AI is cutting into demand for certain jobs, such as software development, the degree to which it is more broadly automating away jobs is difficult to tease out, points out Kolko.

But even if they haven’t been able to widely implement AI yet, a belief that they someday will could increase some employers’ comfort with abandoning labor hoarding. Companies including Walmart, Ford, JPMorgan Chase and Amazon have said that they expect AI will allow them to eliminate jobs.

“Labor hoarding was especially pronounced in higher-wage jobs, where employees are harder to find and therefore more costly to lose,” he said. “Those tended to be tech industries and other professional industries, and those overlap with some of the industries that could be most affected by AI.”

Write to Justin Lahart at Justin.Lahart@wsj.com

https://www.msn.com/en-us/money/markets/why-companies-are-no-longer-hanging-on-to-employees/ar-AA1PDQy6?ocid=msedgntp&pc=W230&cvid=9d7c22f078db4c4cad85cabf269b82b1&ei=11

If you are impacted by layoffs this week, remember it has little to do with your own performance. If you are retiring now, best of luck in your next chapter. If you are starting a search for a new role, wishing you the best of luck. Invest time in your search and resume building. Use your network. Be strong and resilient. This too shall pass. And you will be stronger!

Someone commented on another board that they are expecting notable layoffs in Abbvie Patient Services. Anyone heard anything?

What a coincidence. Check the career pages, it says that due to an upgrade the open jobs can’t be shown. Until Nov 13. When earnings will be published. Big LR and hiring freeze incoming