#restructuring

I’ve heard that an acquisition may be back or at least for part of DXC. The reporting date of October 28 has been mentioned around the halls as a big announcement day so either mass workforce reductions, yet another restructure or acquisition - there is definitely something brewing - it’s all too quiet!

Written by former board members Charlene Barshefsky, Reed Hundt, James Plummer, David B. Yoffie.

Despite years of troubled performance and failed strategies, the great icon of the semiconductor industry, Intel, has two new major shareholders that can give it new hope for recovery: the United States government, with a bit less than a 10% stake, and the most important design firm in the world, Nvidia, with about 5% ownership.

The next step is for the government to arrange for Intel to go private.

Without the pressure of delivering quarterly earnings for the stockholders of today, a private Intel could divide itself into parts that no longer make sense to be conjoined. One new company should focus on manufacturing chips for all global firms with the goal of matching or exceeding performance levels that only TSMC can provide today. The other should commit to designing chips. These are two separate objective functions, markets, and missions. Ultimately, Intel should also sell its controlling stake in the autonomous driving firm, Mobileye, as well as the company’s venture capital arm. The strategic goal is to disaggregate the conglomerate that may have served Intel well in the past but no longer meets the country’s need for an American foundry nor delivers the most value for shareholders.

It is well understood that most conglomerates suffer from the so-called conglomerate discount. General Electric, once an icon of American industry, recognized that breaking itself up would make its constituent pieces more valuable and competitive in one of the most salient recent examples that demonstrates the sum of the parts can be greater than the whole.

Intel’s business model of vertical integration between design and manufacturing gave Intel tremendous market power when it was the world leader in both markets. That’s the past. Trying to recreate it, as some of Intel’s recent CEOs have done, is doomed.

Here’s the plan that seems right to us, admittedly from the perspective of outsiders who left Intel’s board some time ago.

First, the government, with support from a consortium of America’s world-leading design firms, should buy all of Intel’s public stock. Nvidia’s $5 billion investment and the subsequent surge in Intel’s stock price suggest that the capital markets would welcome such a move. Some combination of Nvidia, Microsoft, Apple, Amazon, Qualcomm, Broadcom, and Google — the best and biggest product design firms on the planet — could easily afford it.

The creation of a successful foundry, drawn from Intel’s manufacturing assets and separated from the design businesses, would be a big win for the Trump administration. It would be even bigger win for the big semiconductor design firms that are otherwise totally dependent on TSMC.

Second, the government and that consortium should find new owners for Intel’s design businesses, including servers and personal computers. Our back-of-the-envelope calculations suggest that Intel has left a lot of value locked behind its conglomerate structure. The foundry, for example, has a book value of about $70 billion, but is currently a huge money loser. It needs up to $100 billion in new capital over the next decade to compete with TSMC. The other businesses that could thrive on their own include (1) a microprocessor design business for personal computers, worth somewhere around $100 billion; (2) the design efforts for servers and data centers, also worth potentially $100 billion; (3) the autonomous driving firm, Mobileye, valued at roughly $15. billion; and (4) the extensive venture portfolio, invested in private firms around the world.

Unlocking this value is extraordinarily difficult for a public firm filing quarterly reports. Even in private, the surgery is operationally complicated. Presumably, the board and management cannot see a way forward. Alone, the company cannot raise the money to take the firm private. By itself, it would struggle to obtain the financial, technical and commercial assistance needed to match TSMC. Only the U.S. government would be able to orchestrate the complex, critically important disaggregation of Intel with the necessary participation of the major American design firms.

Third, by going private, Intel can attract the best and brightest talent. With Intel’s competitors flying high on the promise of AI, Intel is suffering from a massive brain drain. As it lays off thousands of employees, the best ones inevitably bail out. The existing public company cannot effectively compete for talent and without talent it is unlikely to succeed in matching TSMC in manufacturing nor make its other units more competitive. Private companies can offer very attractive compensation packages with the promise of a big day when the companies go public again.

The result is that the entire restructuring could be accomplished in roughly a year. That is about as long as the break-up of AT&T took in the 1980s. By 2028, the segments could be sold at handsome prices or taken public with significant returns to private shareholders. Taxpayers could make hundreds of billions of dollars. Not only that, in terms of job creation and national security, the value would be immeasurable.

Naysayers will argue that this strategy is unnecessary. Intel could do it all before, and it can do it all again. But hope is not a strategy, and the world around Intel is not standing still. Naysayers may also argue that Intel should be bought by one of its competitors. Allow Broadcom, for example, to buy Intel and fix it, like it has done with numerous other semiconductor firms. But in today’s environment, an acquisition like this would not fly: China, where Intel sells more than 25% of its products, would never approve it.

Right now, the United States government and Nvidia own a problem. By taking charge of the situation, they can create a tremendous opportunity to do good for the taxpayer. Even more importantly, the break-up of Intel will go a long way to giving the United States the semiconductor ecosystem that underpins every happy scenario for software breakthroughs that benefit the American people and the world.

Spirit plans to slash capacity by about 25% this fall as part of its bankruptcy restructuring, a move that will likely trigger more layoffs at the struggling ultra-low-cost carrier.

In a memo to employees, President and CEO Dave Davis said the change will make Spirit’s operations more resilient and efficient.

“A key pillar of our restructuring is redesigning and strengthening our network,” Davis wrote. “With that in mind, later this afternoon, our operational leaders will receive our preliminary November schedule. As planning begins, you will see a reduction of about 25% in capacity, year over year, as we optimize our network to focus on our strongest markets.”

https://airlinegeeks.com/2025/09/18/spirit-to-cut-capacity-by-25/

It’ll be months before this is resolved, and by all accounts the cuts will be massive. That means a long stretch of stress and anxiety, right when keeping your job feels existential. The job market is already a horror show and only getting worse. We’ll all lose it before this is done and over with.

It’s official: Effective January 2026, the Divisions will be eliminated, and it will now just be the Regions/Field offices rolling into HQ under Amy Lynch.

Comcast operated under a similar model until 2018, when the divisional structure first took effect.

More details will be given over the next 30 days, but there are massive cuts expected due to now-obvious redundancies.

The reason for the switch from divisional back to HQ roll-up is declining revenues across Comcast’s different product/service offerings, which are in large part due to quarterly subscriber losses exceeding ~200k.

Of course, the executive teams are euphemistically (delusionally?) labeling this as “great opportunities arising,” but everyone can smell this for the bull manure it actually is in reality.

Effectively, leadership thinks the only way to stop the fiscal bleeding is to bleed the organization dry of the talent which has long sustained it.

So, best of luck to all in the purges to come, and may the odds be ever in your favor!

Happy Layoff Games!!

Dave Watson announced elimination of division structure starting in January. Frontline divisional teammates will stick around, everything else is moving to HQ. Unsure if just residential or resi and CB. Regional roles will still exist. Crazy that they've gotten away without filing a warn notice since 2020.

You can tell a healthy company by the way it grows. A sick one just keeps restructuring to squeeze a few more bucks out while everyone burns out. Sound familiar? Working here is like living in a company that’s eating itself alive instead of actually improving.

My HR said that it will be huge - despite running well - they have to find money for CAPEX, and all people who are not into sales, will be reduced. All BDMs, pre-sales left. Everything has to be centralised in Centre of Excellence in Egypt. So if you're tech or apps presales you can move to Cairo, or bye.. well.

https://247wallst.com/investing/2025/09/17/ford-layoffs-a-sign-of-its-crippled-ev-business/

It's about time Ford realize that it cannot compete in the EV business. Loosing $5billon per year with no end in sight is not a good business strategy.

Ford will need to lay off more of Model E and retreat. Join venture with another Chinese EV manufacturing company, build them in China, and ship them to the US just like what GM is doing.

The LLC was absorbed into Ford. Some employees were kept, others gone.

Word on the street is something major went down in Houston mechanical today. Can any one confirm? Word is they have no locomotives to work on and some announcement went out but can’t get any details.

Marc Weinstock for the film marketing department is out. Thoughts on what happens to the teams under this division?

This week so far has been a Charlie Foxtrot. Leaders aren’t ready for their new team. In Service Division, our schedules are a mess, huddles are scheduled where there shouldn’t be one, 1:1s not taking place with new leaders, etc. Who thought this was a good idea?

Heard today that all STM positions will be phased out by January 2026.

Hi Everyone, I got an email today from the main irish HR boss. Can anyone interpret what it means? Will we be fired? FYI, we are a team of 9 people, everyone got the email, we were perfoming very well over the past years. Also the manager got this email
Thank you to everyone!
Subject line: Urgent & Important - Country Information Meeting
Email:
Hello,
You are requested to attend an information meeting tomorrow, where we will share an important update on some country restructuring proposals which will affect several roles in Ireland, provisionally including your role. This meeting will not be recorded, and you are asked to prioritize attending.
I appreciate you will have many questions at this point, but more information will be shared on tomorrow’s call.

Got an email from HR stating restructuring impacting my role— there’s a meeting tomorrow. It’s a town hall, not 1:1. Consultations happening over the next few weeks.

Sat in on my L3 call given he was out PTO. AVP has announced network wide large cut of L1/L2s across Anatomy, Leggy, and Greendick organizations. Capex/Expense being cut for automation given known reduction in workforce. End of payroll is before EOY. No preferential treatment for Dallas and Atlanta employees. Sorry to those that recently moved.

RTO is old news. Yes we have returned to BAU cuts.

So those in the know, what does this week hold? Layoffs or reorganization? Or are they still preparing?

Engineering, ops and development reorg rolling out this week to "align" every market to the common Operating Model. As far as I can tell it's the same as the area model, just shuffled around.

Verily, Google’s life sciences and healthcare arm, has announced a major restructuring that includes layoffs and the shutdown of its medical devices program. CEO Stephen Gillet told staff in a memo that the company must make “difficult decisions” to focus resources on its core priorities of precision health, data, and AI. The exact number of employees affected was not disclosed, but the move marks a big shift for Verily, which has spent years building devices like the Dexcom G7 glucose monitor, retinal imaging tools, and clinical study wearables.

Gillet praised the Devices team for their decade-long contributions to advancing healthcare technology, saying their work has left a lasting impact on patients and research. While the program is ending, Verily will continue to support existing tools in active clinical trials, such as the Numetric Watch.

For employees staying with the company, Gillet stressed that the mission remains exciting and important, but acknowledged the transition will be tough as colleagues and friends depart. He urged patience and commitment as Verily narrows its focus. The company says these cuts are part of “deliberate choices about resourcing” meant to accelerate its path to commercial success.

https://timesofindia.indiatimes.com/technology/tech-news/googles-moonshot-division-verily-to-cut-jobs-what-ceo-stephen-gillett-told-laid-off-employees-in-memo/articleshow/123580591.cms

Company: Capital One Financial
Date: October 17, 2025 (193 workers), and May 1, 2026 (22 workers)
Laid off: 215

These layoffs are tied to a decision by Capital One to exit Discover’s home equity and refinance loan business, which had been part of its business portfolio following its acquisition of Discover. The larger batch of job cuts (193 workers) is set for October 2025, with a smaller group (22) scheduled for May 2026. The company said this is part of financial restructuring and follows a strategic business review of that segment. The transition is expected to reshape operations in that business line.

Tenneco is laying off nearly 100 workers at its plant in Spring Hill, Tennessee. The cuts are part of a broader restructuring effort by the company, which has seen similar layoffs in other locations. The company did not specify the exact reason for the cuts, but has previously cited a need to realign its manufacturing footprint to changing market conditions. The layoffs are expected to be completed by the end of the year.

SOURCE:

https://www.tennessean.com/story/money/2025/09/10/tenneco-layoffs-spring-hill-tennessee/86057833007/

“I AT&T is looking at office space in the suburbs, two people with knowledge of the situation have told The Dallas Morning News, even as its CEO remained silent Friday regarding speculation about the Dallas-based telecommunications company reducing its downtown presence.
A move by AT&T could see its more than 2 million-square-foot presence in downtown Dallas shrink in some fashion. AT&T had nearly 6,000 workers assigned to its downtown Dallas offices in 2022.”

Major layoffs coming in the car and mechanical departments. Most car jobs will be eliminated, and TCI jobs will be put in their place. Major yards like north Platte and Kansas will still facilitate car repair with union workers, but smaller outlying yards will have contractors do the work, and this is including locomotive service and inspection.

These cuts will bolster stock prices for the Norfolk southern merger

Reshuffling the deck 😆

Did anybody hear anything about them removing HR from Clifton? The only HR options will be by remote?

The real story isn’t that Wall Street doubts Oracle — it’s that they’re buying every bit of the spin. The market’s reaction after the earnings call just hands leadership a license for more cuts.

To be fair, none of us should be shocked. Everyone who signed on here knew the culture, the playbook, and the trade-offs. Oracle has always been masterful at controlling optics: Salesforce and others get front-page coverage for layoffs, while Oracle quietly trims headcount in the shadows.

The 10-K makes it plain — only a fraction of the 2026 restructuring has hit the books. That’s a roadmap, not a surprise. And while Larry takes the crown as the wealthiest man alive, thousands are out of work. That’s not “new,” it’s just the ethos we all bought into.

For those still employed, don’t confuse relief with security. The market just rewarded this strategy, which means we’ll see it again.

Signs that layoffs may be coming include financial troubles such as declining revenue or a hiring freeze, management and leadership changes, reduced perks and benefits, Zero Bonus, increased HR activity, organizational RESTRUCTURING, and shifts in your personal workload or exclusion from meetings and projects.

You may also notice increased secrecy, vague communication from leadership, canceled projects, or a generally somber or uncertain atmosphere in the workplace.

** From 2nd Week of October to 4th week of November you will see many of your team members outlook email id's won't exist

Qorvo is burning through money. Layoffs are coming.

During the first quarter of fiscal 2026, our management approved, committed to and initiated plans to restructure and further improve efficiencies in our operations due to our acquisitions and certain other operational activities (2026 Restructuring Plan). The total estimated restructuring costs associated with the 2026 Restructuring Plan are up to $1.6 billion and will be recorded to the restructuring expense line item within our condensed consolidated statements of operations as they are incurred through the end of the plan. We recorded $415 million of restructuring expenses in connection with the 2026 Restructuring Plan during the three months ended August 31, 2025. Any changes to the estimates of executing the 2026 Restructuring Plan will be reflected in our future results of operations.

curious to know everyone's thoughts on the future of corporate trust

Despite Oracle's strong Q1 performance and a 30% increase in share price, the company has announced a planned restructuring across its EEA operations, proposing a reduction of up to 2,000 roles across multiple lines of business. This initiative aims to rebalance costs, streamline operations, and reinvest in AI and data center capacity. The exact number of impacted positions in each country remains unfinalized, pending local legal consultations and regulatory requirements. Where feasible, Oracle may offer options like voluntary redundancy or early retirement, though availability may vary across EEA countries. How Oracle will compensate the thousands of employees affected by these layoffs worldwide remains unclear, with details on support programs like retraining or career transition assistance yet to be fully disclosed.

Anyone know what this is? Is Tracy the only 1NA location? Is this related to the restructure rumors for Sep/Oct?

ExxonMobil (XOM) stock is trading lower on Friday after reports indicating the company plans to sell parts of its European chemical business. The industry struggles with U.S. tariffs, high energy costs, and growing competition from China.

The company has been steadily reducing its European footprint, often clashing with Brussels over regulatory policies, which it argues inflate energy costs and scare off investors.

The company already agreed to sell its French chemical operations and controlling stake in Esso SAF to Canadian retailer North Atlantic’s French unit.

The U.S. petrochemical producer has held early talks with advisers about divestments that could bring in up to $1 billion, Financial Times reported on Thursday, citing unnamed sources familiar with the matter.

Exxon is weighing sales of its plants in the U.K. and Belgium, including an ethylene facility in Fife, Scotland, and several Belgian production sites.

Benzinga reached out to ExxonMobil’s investor relations for comment on the story and is awaiting a response.

Executives also discussed shutting the plants entirely if buyers do not emerge.

Exxon stressed to the FT that a deal is not particular. However, the report highlights Western chemical makers’ challenges, including overcapacity, weaker demand, and low-cost Chinese exports, which are squeezing margins.

U.S. producers remain shielded by President Donald Trump’s planned 15% tariff on European chemical imports, which adds pressure on European rivals.

Other global players, including LyondellBasell (LYB) , are also scaling back in Europe.

Exxon Mobil stock gained just over 2% year-to-date. It failed to reach revenue consensus estimates in at least two of the last three quarters (or the fourth quarter of 2024 and the first quarter of 2025).

In August, Exxon Mobil reported second-quarter 2025 earnings of $7.1 billion, or $1.64 per share, beating analyst estimates of $1.47. Revenue reached $81.51 billion, above the $79.34 billion consensus.

The company delivered its strongest second-quarter upstream production since the Exxon-Mobil merger, pumping 4.6 million oil-equivalent barrels per day, a 13% jump from the first half of 2024. This was fueled by the Pioneer Natural Resources acquisition and record Permian Basin output.

Strategic projects advanced this quarter, including the Singapore Resid Upgrade, the Fawley Hydrofiner in the U.K., and Canada’s Strathcona Renewable Diesel project, all expected to add over $3 billion in earnings power by 2026.

https://www.benzinga.com/trading-ideas/movers/25/09/47528781/exxonmobil-faces-tough-choices-in-europe-as-competition-from-china-intensifies

Just cut the rest of MRO, Shell's and Concho staff and bob's your uncle. I mean, that was the plan all along right ?

Source: https://opentools.ai/news/shen-lus-layoff-reflects-broad-shifts-in-journalism-at-wsj

Industry-wide trend – Her departure is part of widespread newsroom layoffs in 2025, reflecting cost-cutting and restructuring across journalism.

Loss of specialization – Cuts like this often target niche reporters, which reduces depth in critical areas such as technology, society, and international coverage.

Signal of larger shifts – The move shows how financial and digital pressures are reshaping newsrooms, prioritizing efficiency over comprehensive reporting.

• Who Owns ConocoPhillips? Oil Giant to Axe Up to 3,250 Staff in Brutal Global Layoffs as Energy Crisis Bites

https://www.msn.com/en-gb/money/other/who-owns-conocophillips-oil-giant-to-axe-up-to-3-250-staff-in-brutal-global-layoffs-as-energy-crisis-bites/ar-AA1M0rAK

• ConocoPhillips will cut up to 3250 jobs worldwide by the end of 2025, slashing 20% to 25% of its global workforce in a sweeping restructuring plan.
  Company: ConocoPhillips
  Number of People Laid Off: 3250
  Published At: 09/06/2025 & 11:21 AM UTC
  Industry: Oil and gas

ConocoPhillips, one of the largest independent oil and gas companies in the United States, has announced plans to cut up to 3,250 jobs worldwide by the end of 2025. This represents between 20 and 25 percent of its global workforce. The company said the layoffs are part of a restructuring effort driven by falling crude oil prices, rising production costs, and broader economic pressures that have reduced profitability.

Headquartered in Houston, ConocoPhillips became a standalone upstream energy company in 2012 after spinning off its downstream operations into Phillips 66. The company is publicly traded, and ownership is spread across institutional investors, mutual funds, hedge funds, and individual shareholders — meaning no single entity controls it outright.

Leadership remains under CEO and Chairman Ryan Lance, who has held the role since 2012. During his tenure, the company has expanded through acquisitions, most recently completing a $22.5 billion purchase of Marathon Oil earlier this year. Despite this growth, the company is now moving aggressively to cut costs and reposition itself amid ongoing volatility in the global energy sector.

Is another round happening this year? Given share price more simplification is required?

Is it true markets BASS is merging into business control? That sounds like a mess and I feel bad for everyone on the BASS side. Hopefully FA gets the boot soon

Does anybody have any insight or guesses as to what this restructuring means for those of us who are at the bottom of the totem pole? And are all these additional roles really needed? Because this is really starting to feel like real-life game of Jinga with all these different additions and subtractions.