Anyone would care to chime in with a prediction about potential Corning layoffs? Any chatter, news or rumors?
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Amazing when one thinks about the top Executives getting serious money when retiring. How many of us can afford to build a multimillion dollar lake house in the current economic climate????
"Continual over-hiring and numerous layoffs is the name of the game"
- This is very true for CPT and MTE in the last couple of years. I would phrase that as hiring-and-firing in the name of tech game. As a manufacturing company Corning is free to adopt see-try-(success/failure) strategy whenever there is something, BUT, exploiting early career employees in the same name will lead to the ultimate collapse of company.
I have seen someone from MTE who was hired because he/she had some extraordinary skills for a particular tech that Corning was pursuing...That person was let go little less than a year because Corning find that the tech was not worth pursuing...Corning literally ki-led the talent growth in the name of tech game.
If you are literally out of the PhD and try to explore things, then MTE modeling is not ideal for you...just avoid MTE...MTE is charge-out org and you would just get sc--wed up because of the 'Charge-out' game...Perople want to work on project but MTE does not have fund...MTE adopts a hiring spree even if there is no any guaranteed fund...what a worst culture...If you want to hire...then hire contractor...DO not hire FTE if you can not treat them as FTE,..And, there is one Director from MTE who is like "Howrrrr...thiefff...engineerrr...''..
GLW has not changed since the 1960's. The Houghton's have run the company; groomed Wendell Weeks to be just like them. Continual over-hiring and numerous layoffs is the name of the game. You never hear of executive cuts or reduced bonuses/perks. What you do hear is they cash-in their GLW stock which gives them huge financial gains. The gleam and glamour of Corning Glass is over. Their stock price hovers around the $30's and they haven't generated anything to improve their future. A retired top-notch Corning engineer told me the layers of Corning VP's, directors and managers is so overwhelming that getting engineering approvals for anything depends on who you know at the top. Apparently the Houghton company policy is outdated and need replaced otherwise Corning will be sold and end up like Thatcher Glass-GONE.
It's amazing how Corning posts just disappeared
Big rumors abound that I have heard on the ground in Corning from multiple connected sources. Big layoffs coming up in Q1 24, selling off C Bldg & Decker Bldg, COB getting a divorce. I wouldn’t be surprised to see them eventually move HQ to Charlotte, NC where a new large HQ for optical and connectivity business was built.
expect big lay offs over the next two months
Has Corning returned to Normal? Any info about future layoffs?
Typical Corning reaction. Feel sorry for those that own homes in Corning.
Corning has just announced via email that share holders will be getting dividends in August. Recently company employees were denied raises . Not long ago we’re asked to “donate “ a portion of their salary . Reason was to retain jobs” help out”.All while bonus’s were still received at higher levels. From any angle this behavior is unacceptable. There are many rumors of another round of layoffs after this quarter. This can’t go on much longer.
Corning just laid off staff at the Painted Post, Corning Valley and Fairport Plants on 04.28.2023
🥰
Feeling a lot like 2008 all over again. High prices everywhere, everyone taking out debt to get by, housing market is out of reach for most working-class Americans, business are reducing or laying off staff. Very similar feeling...
https://www.mytwintiers.com/news-cat/local-news/corning-inc-cuts-less-than-1500-jobs-worldwide/
local news re: GLW
Yep! They are doing one tomorrow in Corning
Everything is looking like 2012 all over again. CET is stockpiling ware. SP is having a shutdown for machinery rebuilds. It's going to be a production blood bath. We were overstaffed from the plandemic on. It's time for a correction, anyway.