#layoffs

Listen this new CEO was brought in to cut management, cut costs and raise stock prices .This is no coincidence he was brought in right as the merge with frontier which has contracts and the largest current contract up in August that they could not agree on an extension.So for the union people too this is no blessing !!!I believe the board saw Hans as too sympathetic to the Unions as Europe is .So I would now confidently say get ready for a long protracted Strike .The unions are too behind eight ball CWA IBEW to realize this was another strategic move by the VERIZON BOARD.McAdams 2.0 coming in .Any associate not starting to realize where this is headed in next few months and stop suk in the management in the fios back room deserves what’s next but is out weakest link open your eyes leadership/membership

Has anyone (let go in early August) actually gotten their severance checks yet? Something seems really off.

The people I know who also got laid off haven't received their checks yet either.

Especially knowing that a bunch of my co-workers in the same orgs were silently laid off a couple of months ago for "business decisions". Exemplary leadership making people at the bottom rungs of the ladder do double the work now so we can pay for the leader's promotions.

P24 seems like a golden age now that Project Mongoose is in effect. Instead of (for most countries) voluntary redundancy, your name and role are on a list. Works council stated this will be an annual thing. So much for the feeling of community at SAP. Also when did the T4 level become poison? Speaking informally with HR T4 positions are not really sought after. T1, T2 highly sought. It's brutal out here now.

Management sent out an email October 6th 2025 that 50 union and 50 management positions were to be laid off due to lack of work. The truth is they sub most of the work out and are bringing in their people from San Diego to run the place. Glad I retired and got out of that mad house.

https://b60.ruckusfactory.com/ford-cuts-1500-from-ev-plantsadmits-market-way-smaller-than-anticipated/

It's about time. Loosing $45,000 for every EV Ford produced is a losing game.

TIAA's loss is Empower's gain.

TIAA filed letters to local and state officials last week under the federal Worker Adjustment and Retraining Notification Act, or WARN Act, saying its latest 31 job cuts in Denver will begin Dec. 1. The round of layoffs will not include any positions at its Broomfield Data Center, at 11525 Main St., the company said.

The T. Brown Duckett mess continues.

It was just announced that less than 30 colleagues are affected. Does anyone know the areas?

LBT noted today between basketball, laser focus, humble, my BFF’S, that we need to get to 75K employees by end of the year, for you super geniuses this is about 13K more to go. (TSMC plus Nvidia) is 75K. Dont get too comfortable.

Fifth Third Bank has officially acquired Comerica, marking another significant move in what appears to be a growing trend of regional bank mergers under the current U.S. administration. Industry analysts expect further consolidation as economic pressures and regulatory shifts continue to reshape the financial landscape.

Meanwhile, Truist is undergoing internal restructuring. Sources indicate that between 500 and 700 contractors were cut last Friday in Digital and Technology divisions. While the company cited "policy concerns" raised by its legal department, insiders suggest the move was primarily driven by cost-cutting objectives. The timing coincided with contract renewal periods, and many agreements were allowed to lapse without extension.

Additional reductions are on the horizon, including cuts to employee benefits, further contractor downsizing, and full-time staff layoffs. Truist has faced ongoing challenges in the market, with underwhelming stock performance fueling speculation that the bank itself may become an acquisition target in the near future.

Saw this on a Facebook group.

Sounds like most of the union that was left in Denver was laid off today but Avaya. December 8th is the last day of payroll for what used to be the NSAC, billing, dispatch, and SOSC.

Its been almost a year since Cargill displaced so many colleagues. I see all the linkedin posts of the highly political leaders taking credit for foundational efforts of others they dismissed without even a second thought. It is still sad and heartbreaking reminder of how cruel the culture was. Wonder if current employees even bother to check in on those that still do not have jobs or that left without any acknowledgment of their years of service to this cold company.

The Director/Manager's daughter got hired on making 65K+ as a Business Analyst with a Bachelors Degree in Fashion and no prior health care experience. When normal people don't get looked at unless you have at least 1+ of health care experience. But if you have the right last name and NO experience you can just be handed a job. NO need to work for it.

Anyone hear anything about remote workers? Have managers been given a chance to prove their position is critical or will all remote employees be let go Oct 28?

Hi, I'm at Walgreens. What support center jobs/departments were hit with the layoffs the first year of Sycamore Partners buying Staples? Appreciate the insight of where I could be in the chopping block.

Any word on when the next wave hits for technology? I thought it was October but I haven’t heard anything for a while.

Golly gee, look at all the former Gainwell leaders looking for new jobs!

Anyone feeling comfortable sharing what org and group they were just laid off from? 😬😬 They’ve really done a number on Deal Managers, Deal Specialists, SalesHelp, Deal Desk in the last couple years, but the last two rounds of layoffs I’m shocked at…there was already so little headcount with all that work being rolled into one. Have been shocked to see some of the names that were axed. Really sad.

Became close to many here in 15 years. Cannot stress this enough - The company you think you know IS planning your “winter.” Prepare. Please prepare. Putting in notice this week. And it does not matter how well you’re doing your job.

With telco moves recently, can see stank doing larger cuts and then T puts in new CEO q1. All this in effort to make it look like they’re listening.

Winter is coming.

Any news of any layoffs in HR?

With the streamlining of underwriting within Business Banking the past year, I would think this group would likely be at risk of layoffs in the somewhat near future.

Spanish telecoms group Telefonica plans to lay off at least 6,000 employees across several units before the end of the year, newspaper Expansion reported on Monday, citing people familiar with the plans.

The total number of workers initially affected by the redundancy plan could rise to 7,000 out of a global workforce of around 100,000, the report added, although negotiations with unions tend to reduce such targets.

https://www.reuters.com/business/world-at-work/telefonica-plans-lay-off-6000-workers-this-year-expansion-reports-2025-10-06/

https://mynorthwest.com/kiro-opinion/harger-washington-recession/4139846

It seems like there were more layoffs to kick off October. Anyone know who all was affected?

The petrochemical sector is struggling with weakening demand, overcapacity and a global pivot towards cleaner energy, analysts point out.

SINGAPORE: ExxonMobil’s decision to cut up to 500 jobs in Singapore signals wider industry challenges from declining demand and rising supply, analysts said.

The US energy giant on Wednesday (Oct 1) said it plans to reduce 10 to 15 per cent of its workforce in Singapore by end-2027, calling it a move to improve competitiveness in an “ever-evolving landscape” and to "position the business for future success".

The announcement followed a global restructuring plan unveiled a day earlier, which will see the company laying off 2,000 jobs worldwide, or 3 to 4 per cent of its workforce.

Analysts pointed out that ExxonMobil's cuts reflect broader challenges across the sector.

“It's a demand-supply story affecting international oil and gas companies,” said energy consultant Tilak Doshi.

“Crude oil prices are down, margins are down, revenues are down … So how do they respond to it? By cutting back.”

Other major US oil companies, including Chevron and ConocoPhillips, have announced job cuts this year, as Brent crude prices fell by about 12 per cent this year, driven by rising OPEC+ supply.

The sector is also facing weakening demand and overcapacity, particularly with the growth of petrochemical plants in China, said former Energy Studies Institute visiting senior fellow Leow Foon-Lee.

Singapore is not insulated from these challenges, given its role as a regional refining hub, he said.

Beyond oil demand and supply, companies also face uncertainties from trade tariffs and pressures to restructure as artificial intelligence reshapes operations, said Mr Leow, who is also an adjunct professor at Nanyang Technological University's business school.

SHIFT TO GREEN ENERGY
Besides ExxonMobil, other oil giants in Singapore have cut back their businesses in recent years.

In May last year, Shell sold its Bukom refinery in Singapore – one of the world’s largest oil refining and trading centres – to Indonesian firm PT Chandra Asri and Swiss-based Glencore, having earlier announced plans to cut 500 jobs over three years.

Structural shifts in the industry are being driven by the global transition to cleaner energy, automation and stricter regulations, said Dr Roger Fouquet, principal research fellow at the Energy Studies Institute at the National University of Singapore.

Singapore, like other parts of the world, is moving towards deploying cleaner energy with a goal of achieving net-zero carbon emissions by 2050.

The country was the first in Southeast Asia to implement a carbon tax in 2019. Businesses that emitted more than 25,000 metric tonnes of greenhouse gas a year had to pay S$5 (US$3.90) per tonne of carbon dioxide equivalent produced.

This tax was raised to S$25 per tonne of emissions in 2024, and will eventually be raised to S$50 to S$80 by 2030.

Analysts stressed, however, that current layoffs are tied more to demand and supply than to carbon policy.

SINGAPORE'S EVOLVING ROLE
Despite the turbulence in the industry, analysts said Singapore's petrochemical hub role is not diminishing but evolving.

"The rationalisations are paving the way for a more resilient … and future-driven market and environment,” said Mr Timo Tumuscheit, vice-president of business development for chemicals at Argus.

He said Singapore is “moving up the value chain” by focusing on more specialty chemicals, which are higher-value, produced in smaller quantities and tailored for specific functions.

Momentum is also building around biochemicals, carbon capture and low-carbon fuels, which reflect the region's shift towards more sustainable energy systems.

Although Singapore is now a hub for liquefied natural gas and bunker fuel, the fuel mix will change to cleaner fuels in future, said Mr Leow.

“And so our role has not changed. It's just the fuel mix has changed,” he added.

Mr Tumuscheit agreed: “Singapore, as a petrochemical hub, will always remain a major player and an important hub in the region and globally.”

https://www.channelnewsasia.com/singapore/exxonmobil-layoffs-petrochemical-industry-challenges-cleaner-energy-5382121?cid=cna_flip_070214

We skipped the 9/25/25 layoffs. Anyone know who all is expected to be impacted this week?

Wouldn’t it be great if leadership actually spelled out what to expect, including some of those “minor” details like severance terms?

Is this true?

The layoff is 600 people with only a handful offered a severance. Mostly tenure employees that have put in 15+ years
@eb+1k6kw57zn

Looks like there’s some layoffs happening in Milford right now. Does anyone know what groups are affected and how widespread it is?

It’s purely cost reduction. That’s why we’ve been losing so many veterans, experienced, and competent people. It’s always about the bottom line. It has nothing to do with dedication, creativity, resourcefulness, or hard work. Being a valuable contributor has become more of a burden than an advantage. Quality comes with a high price tag.

Fifth Third just announced they are purchasing Comerica to form the 9th largest US lender. The current administration is going to be a lot more open to consolidation. M&T is no longer be able to compete with the larger institutions, especially with their reliance on commercial real estate. Despite huge investments in technology, it's obvious that M&T can't keep up (as evidenced by the failed People's United conversion and an antiquated web banking platform). These layoffs could be an effort to make the company a more appealing target.

A Takeda spokesperson confirmed to FirstWord on Thursday that 137 of its employees in Massachusetts will be let go due to this change.

The layoffs are the latest to hit the pharma's workers in the state. Last year, Takeda cut nearly 1000 staffers in Massachusetts.

https://firstwordpharma.com/story/6230311

It’s just for fun:

“If USAA does plan a major layoff, it is most likely to occur before the end of 2025, perhaps in late Q4 2025 (October–December), as part of restructuring under the new CEO’s agenda.”

It also talks about if there’s someone does similar tasks as you, your odds of being laid off is higher. Based on available data, it looks like there are a lot of redundancies in the risk and compliance space. Even though there’s a lot of regulatory hurdles USAA still have to deal with, but it seems like data suggests that the current structures are not effective.

Wishing everyone impacted the best of luck in finding new opportunities. If you're comfortable sharing, I’d love to hear more about how many people were affected and what kind of severance or support is being provided.

Any details are appreciated, & it could help others prepare in case of negotiations

Wishing you all the best during this challenging time!

What's the latest on Wealth solutions?

The mood has been quite somber this morning since last Friday's shocking announcement.

We had a flash call this morning about possible impact.

Meeting invites out today for layoffs

New ceo said hard decisions will be made when discussing how we will win for shareholders... Layoffs? Lots and lots of layoffs? Yup

Hearing it's going to be big org changes. Also, all you publicly complaining about RTO and trying to protest coming into the office, you will get the response of finding out who is in charge.

Don’t delude yourselves into thinking this might be different. There’s no such thing as an employee-positive CEO. They’re all beholden to shareholders, even those few who don’t think about their own pockets first. The only question right now is how drastic the cuts will be.