#restructuring

Hey everyone, what’s the latest on the Sarnia situation?
It seems discussions between management and research staff are still ongoing. There’s talk that some employees might be offered relocation options — possibly to Edmonton or other sites — instead of full severance packages.

The overall timeline also appears to be shifting, with the move now expected sometime in Q1 next year. It also sounds like some Houston teams are on hold with equipment transfers until there’s more clarity.

Does anyone have confirmed updates or insight into where things currently stand?

The so-called International Leadership Team will be firing 2/3 of the Geneva employees (about 40 peoples) over the next months, including all the Engineering team, as a restructuring of the EMEA activities. Ongoing and Future Engineering activities should be moved the Spain site and most likely heavily subcontracted.

Reorg coming this week is what we are hearing especially in San Diego

Any word on what’s going on with the WellCare LOB ? Been getting some marketplace work/large caseloads/restructuring..

Employers say they want people with integrity, loyalty, and to become really good at their jobs in order to serve the clients/customers with exemplary service and products. But, they reward people who do whatever it takes to advance. They tell FA's to push products that are fee based when those products are not in the best interest of the client (lack of integrity and ethics). They preach loyalty yet they bring in people from the outside and pay them more than paying long tenured employees because they know the current employees will stay without a competitive merit increase. They also preach customer service and job performance. Yet, when they think they need to restructure to be more competitive they just run analytics and cut with a machete instead of doing research to keep top performers with the plan to hire people back when they have finally decided what roles the firm will need. I understand this is what most employers do. However, this is not what Edward Jones has ever done. Penny and the rest of the ELT has decided to do this and therefore has made Edward Jones just another run of the mill employer. Edward Jones used to be a destination employer. A place where quality talent wanted to get to and stay. That is why Ted decided to have your profit sharing vest one hundred percent on day one unlike most employers. Now, Penny has decided to just run the company like any other. Top talent will not choose to come here. Top talent will not choose to stay here. Penny has decided to destroy the culture of this company from the inside out. The fall of this firm will not come from an outside threat. It will come from the inside. I believe the time is now. I believe her name is Penny Pennington.

So its almost time! Who know what is happening in January this year?
Region/division cuts? Position cuts?

• Activist investor Standard Latitude, which recently disclosed a stake of just over 5%, could accelerate portfolio reviews and divestments. This makes Standard Latitude the 8th largest shareholder.

• Barclays has lifted its rating on Croda International PLC from 'equal weight' to 'overweight', citing the prospect of activist-driven restructuring and improved cost discipline as reasons for a more positive outlook.

• Shares in the specialty chemicals group have fallen about 70% since their 2021 peak, leaving the valuation at what Barclays described as “trough levels”; underperforming the FTSE 100’s 26% gain over the same period.

Get your resume ready because you know the current leadership will cut any and all of you to keep their jobs even though their bad business decisions put you here in the first place. If you didn’t believe the first post for this company, ‘Day of Reckoning is Upon Them’ you can’t say you weren’t warned.

https://technode.com/2025/10/11/microsoft-reportedly-lays-off-shanghai-azure-staff-amid-ongoing-global-restructuring/

Reports: Microsoft Shanghai Layoffs Offer N+4 Severance, Relocation to Australia Option

https://pandaily.com/reports-microsoft-shanghai-layoffs-offer-n-4-severance-relocation-to-australia-option

https://www.bbc.com/news/articles/cdr612yz8p0o

"MTV, the world's first 24-hour music broadcaster, is to stop showing rolling pop videos in the UK after almost 40 years when it closes five channels at the end of the year.

MTV Music, MTV 80s, MTV 90s, Club MTV and MTV Live will all stop broadcasting after 31 December, the BBC understands.

However, the flagship channel, MTV HD, will remain on air, showing reality series including Na--d Dating UK and Geordie Shore.

The move reflects a shift in viewing habits, with music videos largely consumed on YouTube and social media rather than television. A spokesman for MTV's parent company, Paramount, declined to comment."

"Wider layoffs
Paramount is also expected to close MTV music channels in countries including Australia, Poland, France and Brazil, according to media reports in those countries."

October 10 2025 BBC

From the Detroit News:

Ford taps former GM global product lead in leadership change-up

Ford Motor Co. on Friday said it has added a former General Motors Co. executive to lead its product development, among a number of other executive changes.

Jim Baumbick, vice president of advanced product development, cycle planning and program, will lead the strategic direction of Ford Europe as its president starting Nov. 1. Replacing him on Oct. 13 is Sam Basile, GM's former vice president of global product programs.

Additionally, Bryce Currie, vice president of manufacturing for the Americas, takes on an expanded role covering global manufacturing and safety as chief manufacturing officer. Andrew Frick, president of Ford Blue and Model e, also will add luxury brand Lincoln's global retail business to his responsibilities, though Lincoln President Joaquin Nuño-Whelan will continue in his role and report to Frick.

Disruption has been a consistent factor for the automotive industry as of late. A fire at an aluminum plant in New York has rattled the supply chain, especially at Ford, which uses the metal to make the bodies of its best-selling F-Series pickups. U.S. tariffs continue to create uncertainty. The Trump administration's rollback on what the president considered an "EV mandate" could halve electric vehicle sales. Ford is in the midst of a restructuring in Europe as it focuses on its commercial business there.

"These global leadership appointments," Ford CEO Jim Farley said in a statement, "underscore our relentless commitment to building a truly world-class team across Ford, united by a singular focus: delivering product excellence and quality for our customers globally."

Basile last worked at GM in 2023 and since has been in private consulting, according to his LinkedIn. He collected three decades of experience at GM, including globally in China, South Korea and Europe. He'll report to Ford Chief Operating Officer Kumar Galhotra. Baumbick in Europe will work with leaders in the region, oversee product development for that market and and drive cost savings. He'll report to Vice Chair John Lawler.

Ford also shared the retirements of Chuck Gray, vice president of vehicle hardware engineering, and Darren Palmer, vice president of EV programs.

Gray, who contributed to Ford's industrial system, retires Dec. 1. Charles Po-n, director of electrified propulsion engineering, will succeed him, making the transition starting Nov. 1. He'll report to Galhotra.

Palmer was a founding member of Team Edison, which has evolved into the Model e EV division and launched Ford's all-electric models: the Mustang Mach-E SUV, F-150 Lightning pickup and E-Transit commercial van. His retirement takes effect Nov. 1.

The recent bump in Fossil’s stock price? Yeah, that’s pretty much the result of all those cost-cutting moves kicked off a few years back — nothing new or magical happening.
The new management’s just cashing in on that, adding a few “extra steps” cooked up by those golden, high-priced consultants who’ve basically become part of the furniture at this point.

But here’s the real question: what’s gonna be left of this group once the dust settles? What about its legacy — those once-iconic brands? Competitors are already rubbing their hands; they know they’ll scoop up what we’re letting slip away.

And now the latest “big idea”? A Distributor-Led Model in Italy.
Seriously? You think the license partners — a couple of which have their HQs right there — are thrilled about this move? Hard to say how Italian key accounts will react once they find out who’s taking over the distribution.
Word is, there’s some mixed feedback in the market about this new setup — not everyone seems excited about it. Let’s hope the execution proves everyone wrong.
Fossil’s changing fast — maybe too fast. Guess we’ll see soon enough what the numbers have to say.

Just opening this up as I am already getting employees who are upset. Especially at the director level.

https://www.youtube.com/watch?v=a3_PPdjD6mg

Stock price tanking. 700+ contractors let go with pretextual reason of "Sapience monitoring showed they were not being productive". There is no plan to back-fill the positions. Real reason they were let go was to simply cut costs! More cost cutting on the way! Watch out for stock insider trading. Execs will be selling stock soon!

MW did not answer how he's going to try to win back the employees who have absolutely no trust in him and any of the leadership at Chevron. Morale is at the worst its ever been. The RTO mandate does nothing to help this either and comments that we need to be like the workers in the field. When teammates are in India how can you "collaborate"? The reorg is a disaster. He didn't make tough decisions, he made decisions to pad his pockets!

In the current "Wortwechsel" he is towing the line. 1-2% seems okay for him.

On the other hand he focuses on the importance of culture. "Growth culture" is, according to him, soooo important.

Am I the only one who sees a certain amount of contradiction here?

At least he apologizes for the "brutal" remark, the tooth brushing (both DA) and the statement "at least my job is secure" (SS). Something at least.

Some folks have received the memo, communication already.

Others will have the decision communicated today and in stages rest of the week.

Bob's reshuffling at the top has fueled another change, no one is immune.

If the numbers are to be believed, expect ~6k associates to be impacted

Entire 6k will not be this week but in stages, until Q1 2026

If your manager tells you otherwise, they're lying of course

How is nobody talking about this? Should I be applying elsewhere?? "Truist is undergoing internal restructuring. Sources indicate that between 500 and 700 contractors were cut last Friday in Digital and Technology divisions citing "policy concerns". Additional reductions are on the horizon, including cuts to employee benefits, further contractor downsizing, and full-time staff layoffs.'

In a surprising turn of events, industry insiders are whispering that Dell Technologies might be weighing its options for a potential sale. While no official statements have been made, sources close to the matter suggest that preliminary conversations with private equity firms and potential strategic buyers have quietly begun behind closed doors.

Dell, a long-standing giant in the PC and enterprise hardware space, has seen its business evolve dramatically in recent years. With growing competition, ongoing market shifts, and recent volatility in tech stocks, some speculate the company may be exploring ways to unlock shareholder value or streamline its sprawling operations.

Fueling the rumor is Dell’s relatively quiet stance on recent earnings calls regarding long-term strategic plans, as well as unusual movements in its stock price and insider activity. Some analysts believe a sale, or even a significant restructuring, could be part of a broader strategy to respond to tightening margins in hardware and the growing dominance of cloud-native infrastructure providers.

Of course, without confirmation from Dell or involved parties, all of this remains speculation. Still, in an industry known for its rapid consolidation and bold moves, the possibility of Dell being up for sale is one worth watching closely.

Stay tuned.

Wirth now has three priorities.

First, complete the restructuring and rebuilding of Chevron's corporate culture; second, integrate Hess; and third, extend the concession to develop the giant Tengiz oil field in Kazakhstan, which expires in 2033.
The latter is crucial. When the initial 40-year agreement was signed in 1994, it was dubbed the "deal of the century," as it gave the company access to the oil of the former Soviet Union.

Our concession is valid for another eight years…We have begun working with the government to discuss its extension. I'd like to finish this, not delegate it to someone else," Wirth said in an interview with Bloomberg.

Large scale RIF's coming this month! There is a memo currently doing the rounds with management, looking for additional departmental cuts. They initally are looking to trim the fat. Like before Attendance, time keeping, performance, etc.
Elliott Investment Management are undertaking large scale cost-cutting imitative along with other cost saving and restructuring initiatives. The RIF's will begin this month and continue through to 2026.
Elliott are planning to undertake a number of acquisitions of specific medical device companies, with the end goal being to transfer products to more competitive countries. Keep watching this space, for the types of companies bought and country they are situated in. This will give a good indication as to which facilities are for the block.

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

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.

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.

Oracle’s strategy is firmly established from its earnings notice, with a clear commitment to continuing as a leader in the infrastructure space. The key upcoming changes include:

• Expanding headcount in data centers and OCI (Oracle Cloud Infrastructure)
• Doubling down on OCI initiatives
• Phasing out legacy applications
• Transforming select legacy apps into more modern solutions
  To remain relevant, you will need to align yourself with one of these focus areas. Please be aware that there will be significant reductions in management and leadership roles in the near future. These cuts are expected to occur continuously over the next two years. Now would be a good time to start updating your resume. People who were laid off recently will struggle for a while but eventually settle in. So plan ahead.

Alix Partners will provide their final recommendation by December. Good luck to all. And God help us

Funcom, the studio behind Dune: Awakening, has announced it will lay off some employees as part of a restructuring effort. The news may come as a surprise to many fans in light of the MMO's widespread popularity since release, although the team has dealt with its fair share of issues, too. Regardless, while work on Dune: Awakening will continue, not all the original staff will be involved in it going forward.

https://gamerant.com/dune-awakening-developer-funcom-layoffs/

https://tech4gamers.com/xbox-layoffs-expected-q1-2026/

I found out last week that the leasing contracts have all been sold off to various companies around the world. Europe was recently sold in the last months and North America was sold a while ago to a company called Peak. All the employees are gone from that group and Xerox doesn't have any equity anymore. We don't own anything anymore, we don't pay our bills even close to on time, if even at all (from what I have heard) and the employees are all disgruntled. On top of all of that, this company has a ton of C level execs for some reason and more high end managers than people that actually do work.
Great job Steve B! What leadership he's displayed running this company into the ground. Thank God the debt machine of Lexmark is here to save us! LOL I so look forward to Kim Kleps BS emails and the fireside chats of nonsense. Steve B getting an award weeks ago is the cherry on top of this sh*tpile.

Every major player has its own network group, but Intel plans to get rid of it...

https://www.msn.com/en-us/money/topstocks/3m-company-mmm-targets-25-margin-expansion-launches-1-000-new-products-by-2028/ar-AA1NtvBY?ocid=finance-verthp-feeds

When will middle management get changed over. If Uniti replaces upper management then they need to replace lower management.

https://varindia.com/news/avaya-cuts-over-30-of-india-gcc-staff-in-major-restructuring

According to Moneycontrol, TCS is offering one of the most generous severance packages seen in the Indian IT sector. Employees will first receive three months of notice period pay, after which severance payouts will range from six months to two years of salary, depending on the length of service. Long-serving staff with 10-15 years of experience may receive packages worth up to 1.5 years of pay. Those eligible for early retirement will also be given all retirement benefits, including insurance, in addition to severance.

Employees who have been on the “bench” — without projects — for more than eight months are also impacted. Their exit packages will be smaller, typically limited to the three months’ notice pay. TCS said it will provide career transition assistance, including covering outplacement agency fees for at least three months for junior associates.

The restructuring follows earlier reports that TCS planned to cut about 2 percent of its workforce, or over 12,000 jobs. The IT employees’ union NITES has accused the company of forcing around 2,500 employees in Pune to resign, a claim TCS has strongly denied. The company maintains that only a limited number of staff have been affected and that the initiative is aimed at “realigning skills” in line with future requirements.

This wave of layoffs highlights the pressure facing traditional IT firms as automation and AI adoption accelerate. Clients are increasingly demanding advanced digital solutions and expect their outsourcing partners to deliver with smaller, more specialized teams. TCS, which employs more than 600,000 people worldwide, is now reshaping its workforce to focus on areas such as AI infrastructure, automation, and advanced analytics, while winding down legacy roles.

Nov or Dec roll out and now none surprised.

I see there are many title changes across PEP. Should I be concerned if my title didn’t change? Worried about restructures and org changes.

Any intel on what the meeting(s) tomorrow are about? More layoffs? Restructuring? Consolidation?

Prudential Financial is laying off 63 employees in New Jersey between November 16 and December 16, 2025, according to a state filing. The company said the cuts are part of ongoing restructuring to align its workforce with strategy and maintain competitiveness, though it did not specify which positions will be affected.

This follows several earlier rounds of layoffs. In July 2025, Prudential announced 57 job cuts, and in 2024 it eliminated 637 positions across four separate rounds, including a single reduction of 238 jobs in September of that year.

The layoffs come despite Prudential’s stock rising 6 percent in September 2025, fueled by stronger-than-expected sales and capital returns. However, the company reported weaker earnings, with Q2 net income falling to $533 million from $1.2 billion the year prior and posting $516 million in realized investment losses.

Prudential also recently elected Joseph Wolk, CFO of Johnson & Johnson, to its board of directors as an independent member, effective September 30.