Do we think there will be another wave of job cuts? Sometimes it seems like the goal is to eliminate every position here.
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@ky It’s “stealth” to investors/shareholders who are disconnected from reality.
Backdoor layoffs using PIP/RTO/flat raises while blaming automation has been the M.O. of large businesses since 2023. They resort to hard-layoffs only when forcing people into quitting fails to drive enough attrition.
I would also point out that this BS is illegal in most other developed countries. The U.S. is an outlier here.
@aw lies. But wont give ur name?
@g7 it's hardly stealth, it's in plain sight!
Clinton (a.k.a. Annandale), New Jersey is a ghost town in 2026. Many retirements and resignations by mid-career and late-career employees. Site is expected to officially close in 2027.
@g7+1kfv3td5f See Europe for the direction of travel. Will be skeleton crew well before end of 2026. HOU will follow through 2027.
All EMTEC jobs will be in India by end of 2027, managers a executing a stealth transition to prevent too much attrition as HC10 employees are needed to train up Indian slave labor before being fired.
Once Mango Mu--olini is out of office expect the same blanket 20% cut experienced in all other HC10 countries
Until the value is quantified the leakage continues. So we wait inevitably.
@ee Headcount’s aren’t too high if you want everyone to do a high quality job with high accuracy and minimal errors. Management just decided that the business no longer needs the granularity it once had and we are willing to accept large accounting errors each month to still be have “materially correct financial statements”. We used to have very accurate books, now they don’t blink at a corporate level about multimillion dollar issues. The problem is, it’s difficult to do any meaningful business analysis at the lower level when there are so many issues. Instead of having 3 people producing very high quality (perhaps overkill) work, they have 1 person just trying to survive.
There is no real way to quantify the entire value leakage from the lower quality work products and accounting issues. They can only accurately calculate the opex decrease from lower headcount’s.
Facts are headcount is too high. Has been a long time. Headcount is working but working on EM process. Not value add work. All indications this is ending.
@OP if you didn’t make it in the office today you’ve on a special list
This is what most of us took away from the GBS CFO goodbye call today: “The industry is dying. We (the Execs) are squeezing the last profits and will tell you when your time’s up.”
If you choose to leave, then the MC appreciates it and you’ll thank us later.
Of course there will be continued job cuts into the future. Expect significant decrease in roles in Houston as roles are offshored
@aw I have seen this all over the place. It’s just the way it is now at Exxon.
I was fired at 53 and was supposedly NRE. There is no loyalty anymore at exxon. I was just trying to get to 55 but they would not let me. I know an employee that was fired at 47 with 16 years service. Exxon is getting rid of high paid employees and hiring newbies at half the cost. We were both put in positions that were destined to fail. Everything we did was wrong. I am now working at a smaller company at 2/3 of the pay. I am allowed to do my job without the toxicity and micromanagement. It is amazing that the health insurance is cheaper and better than exxon's was.
There will come a day when EM won’t be so scared of this prez. They will cut thousands of American jobs and offshore to India
The goal is to cut as many jobs as possible in high cost countries
@a7 This has nothing to do with efficiency or productivity. It’s about control and personal wealth building for executives and their acolytes.
@OP There might be some hard-layoffs depending on “market conditions” but I think the most likely scenario is that they continue forced ranking, RTO, 0% raises, and the other standard methods used by large firms to incentivize quitting.
BTW, pretty much every large publicly traded company is doing this, so don’t expect the grass to be greener.
If only they would offer VSPs, myself and probably many others would be gone as soon as tomorrow. Replace us with new AI tools and add headcount at BTC. Think about next earnings call where they could tout efficiency gains and cost savings!
They will have PIP targets and high hurdle to pass PIPs. Goal is to eliminate as many higher paid US employees without having to do any type of program. They will use quite firing techniques to put high earners in positions that can't compete no matter what you do. This way they can blame the employee the whole way. It is one of the most corrupt practices I have seen any company implement. Why not just provide a fair severance and let people leave with dignity???