#company

What are they going to present at CES? Do you think they will roll out the robot dog again? 😊

Kevin Crowley and Robert Tuttle

(Bloomberg) – ExxonMobil plans to cut about 2,000 jobs globally as the Texas oil company consolidates smaller offices into regional hubs as part of its long-term restructuring plan.

The reductions represent about 3% to 4% of Exxon’s global workforce and are part of the company’s ongoing efficiency drive, Chief Executive Officer Darren Woods said in an memo to employees Tuesday. Calgary-based Imperial Oil Ltd., which is nearly 70% owned by Exxon, announced Monday it is cutting 20% of its workforce.

Chevron Corp., ConocoPhillips and bp Plc are among major oil companies to have also announced thousands of job cuts in recent months as crude prices tumbled this year in response to increased supplies from OPEC and its allies. Exxon, however, has been on a major internal restructuring push since 2019 as Woods sought to simplify the company’s sprawling global footprint that came as a result of the merger with Mobil two decades ago.

Exxon is making “tough decisions” that build upon a years-long effort to improve competitiveness, Woods said in the memo. “The changes we’ve announced today will further strengthen our advantages and grow the gap with our competition, helping to keep us in the lead for decades to come,” he said.

Exxon declined to comment beyond the employee memo.

The regional hubs will focus on Exxon’s major growth initiatives such as oil in Guyana, liquefied natural gas along the Gulf Coast and trading globally. For example, the company recently announced plans to move employees from Brussels and Leatherhead, UK, to central London, where many of its traders are based.

Exxon had nine functional companies that operated relatively independently from one another when Woods took over in 2017, creating layers of bureaucracy and duplication of support services. The company now has three main divisions — production, refining and low-carbon — all of which share services like engineering, IT and project management.

The changes have helped Exxon cut $13.5 billion of annual costs since 2019, more than all other international oil majors combined, according to the company. It plans to increase this figure by 30% through the end of the decade.

Some savings have come through asset sales and workforce reductions, but Woods has said the changes also have led to better performance, such has improved maintenance of major facilities and better sharing of best practices between business units.

Exxon employed 61,000 people globally at the end of 2024, nearly 20% less than in 2019, according to the company’s annual filings. Imperial had 5,100 employees at the end of 2024.

https://worldoil.com/news/2025/9/30/exxon-to-cut-2-000-jobs-as-oil-sector-workforce-reductions-accelerate/?oly_enc_id=7798E9325367A8R

Let’s see if we can guess when we’ll have the first layoff of 2026. I’ll start: end of January.

Why she is not updating her LI profile? Is she still at Nike?

What will become of it?
What will become of CS?

What will become them?

Goldman Sachs found that layoffs now lead to stock price losses. Will the board learn from this?

https://fortune.com/2025/12/25/goldman-sachs-research-ceos-layoffs-stock-price/

And please, dear trolls: stay away.

Really really good geologists, engineers…Talent is the real competitive advantage.

The marketing function has become a factory for titles, acronyms, and unaccountable “strategy” that fails the only test that matters: measurable impact on claims, utilization, and outcomes. Too much work is optimized for decks, meetings, and vanity metrics—and not nearly enough is grounded in basic insurance fluency, network reality, or results you can defend in the data.

The org is so aggressively matrixed that responsibility evaporates. People “own” a narrow slice of a slice of a business, yet can’t clearly explain what they own, what the product actually is, what the acronyms mean, or how members are supposed to find in-network care. When ownership is that diluted, execution becomes guesswork and accountability becomes optional.

Meanwhile, member outreach is a chaotic pile-on. Digital sends emails. Marketing sends emails. MDLIVE sends emails. Express Scripts sends emails. There’s no single orchestrator, no shared plan, and no one accountable for the member experience end-to-end—just overlapping blasts and conflicting messages. Cigna doesn’t have a marketing organization; it has a fragmented broadcast system optimized for internal theater, not results.

“Linking recent layoff announcements to public companies’ earnings reports and stock market data, we find that the recent increase in layoff announcements came mainly from companies that attributed their layoffs to benign factors, such as restructuring driven by automation and technological advancements.” But instead of going up, these stocks fell by an average of 2%. And companies that cited restructurings were punished even more harshly. As the analysts wrote, “This suggests that, despite the benign justifications offered, the equity market has perceived recent layoff announcements as a negative signal about these companies’ prospects.”

https://fortune.com/2025/12/25/goldman-sachs-research-ceos-layoffs-stock-price/

Engine recalls used to be the sort of thing most people never noticed unless they owned the vehicle in question. In 2025, they've become impossible to not notice. An absurd number of major recalls and federal investigations have centered not on software, airbags, or infotainment glitches-although there has been plenty of that-but on the most fundamental component of all: the engine.

Over the past year, more than five million engines sold in the United States have either been recalled or placed under official scrutiny. The brands, layouts, and customers differ, but the mechanical thread running through these failures is largely the same.

To meet fuel economy and emissions targets, modern internal combustion engines operate on razor-thin margins-manufacturers have pushed machining tolerances tighter than at any point in history while pairing those designs with ultra-low-viscosity oils such as 0W-20 and 0W-16.

From an engineering standpoint, thinner oil reduces parasitic losses and improves thermal efficiency. The tradeoff is that there is almost no tolerance left in margin to absorb any inadvertent contamination or variance during manufacturing.

In older engines, small amounts of residual debris from machining-metal shavings, casting sand, or abrasive material-could often be absorbed without immediate failure. When microscopic debris enters oil galleries in a modern engine, it will disrupt hydrodynamic lubrication almost immediately, accelerating wear on crankshaft journals, bearings, and connecting rods. Once that process begins, failure will arrive quickly and fiercely, without much warning.

GM's L87 V8 failures have been linked to bearing wear and crankshaft damage associated with metal debris. Interestingly enough, the L87 used in marine applications-like Nautique and Malibu ski boats-is spec'd with 10W-40 engine oil and hasn't experienced the same failures as in automotive applications.

Toyota's V6 issues trace back to machining residue that made its way into the crankcase. Honda has cited bearing and rod concerns, while Stellantis acknowledged the presence of sand from the manufacturing process in some engines.

These are not exotic or high-performance powertrains; they are mainstream engines built in large volumes. Engine replacements are among the most labor-intensive repairs a dealer can perform, often consuming 15 to 20 hours of shop time per vehicle.

Automotive News estimates that across the industry, the combined financial exposure from this year's engine recalls totals in the billions, with long-term warranty costs still to be determined. Never mind the incalculable damage to the overall brand-powertrain durability is foundational to brand reputation, particularly for trucks and large SUVs.

None of this suggests that modern engines are poorly built. On paper and on the road, they deliver more power, better efficiency, and lower emissions than their predecessors ever managed, but corners are being cut in the assembly process in the name of cost or efficiency. Maybe with a more relaxed regulatory environment, automakers will be able to bake in a bit more tolerance as a safety margin, that or like, go back to using 5W-20 engine oil.

Did everyone get their Jelly of the Month Club membership? - CH

Heard LRs in Prisma BUs

In my old company, a colleague had a serious issue with a director and went to HR for help. She documented everything perfectly. Instead of investigating, HR scheduled a mediation where they sided with the director and suggested my colleague was not a team fit. It was a clear lesson that their only job is to protect the company from us. From what I've seen here so far, the same applies here.

I work at 228-the villages Florida and it’s a 💩 show. It’s atrocious

Any ideas? And/or Concerns?

I’ve heard from four different people that something big is supposed to happen in January 2026, but nobody would give me details. I’m curious what they might be talking about. Any guesses?

What the heck. C’mon Santa!

How about we create a list of song dedications to a few of the stellar leaders going into 2026?

My choice for Sammi in 2026 is “King Nothing” by Metallica 1996. Give it a listen and see if you think it fits.

Other suggestions for the January kick off play list?

Someone in the MC please get rid of these EmTec jokers in Upstream research. Its a blatant waste of company’s money to satisfy egos of nobody phDs with no original ideas, just su-king the company dry by wasting time on useless ‘ideas’.

Just do an aidit of spends and value created, surely someone is checking the billions of dollars in valuations they claim? right?

WHY? WHY?

They are bloated and bureaucratic and then filled with bunch of a-s kissers who is being managed by even bigger incompetent a-s kisser.
If you don't believe me then explain to me why Nike cannot come out with anything new like they used 10 years and before that.
What Nike needs is break up the company and be run as separate units. Common stock holders will make more money.
Nike employees will have more opportunity to work since each companies needs position filled.
As long as Nike remains same path expecting different results then Nike is INSANE.

JDI will stand for Just Die Id--t!!

Whether you celebrate an appropriated pagan ritual, or just the spirit of giving, may your year-end be excellent, and next year see your country and company return to sanity.

The fusion of all positive energy were gone. It’s already in the mid downfall. Game over is nearing or is it just spawning? One thing I see, no diamond in Verizon. I ‘ll sit back and watch.

Consulting companies for modern tech recommend 1000 per billion revenue, that would mean 5000-6000 employees

The math doesn't work and selling 25% of the company won't be enough. For anyone left there will be massive layoffs

When does Xerox figure out that it has bought out too many organizations and splits things back up?

Seems like this is the worse kept secret. It's been a bumpy road to integrate Pioneer assets with still a lot to be done. Please hold off on purchasing Diamondback and give us one more year to catch up.

BP sold a majority stake of Castrol to private equity. Do you think we'll make a similar move with Mobil 1?

Nothing to really look forward to in 2026. You will have a company looking to layoff all year and Dell financials will look to suffer in tightening margin pressures against Dell. Ho Ho Ho Merry XMAS

What time did your managers let you out today?

Meeting is already set. Iykyk

other than more layoffs and enriching his wealth in his own startup investments?

It is my first year in DXC and I was surprised to hear there is no 13th salary, no bonus, NOTHING for Christmas. It is the first company I worked for that has such policy, all my colleagues have bonuses every quarter (or at least twice a year), here - nothing. Is it some kind of one time miss due to the hard financial situation or company policy not to care for their employees?

I should be excited about the holiday, but I can't stop worrying. Knowing more layoffs are coming, knowing they could announce them any day now… It's hard to feel any festive spirit when you're waiting for that kind of news. This whole situation just feels so wrong.

Best managed companies listing:

https://drucker.institute/annual-data/annual-ranking-data-2025/

This year’s job market has taken a hit across industries, as higher retail costs led to weaker consumer demand and concerns continued to mount over how artificial intelligence will affect future job creation.

Looking closer at the U.S. Department of Labor’s most recent jobs report in November, the overall economy created 64,000 jobs last month, while unemployment rose to 4.6 percent its highest level since September 2021.

As for footwear, some companies were not so fortunate this year, having to resort to saving their bottom lines by cutting staff. As FN looks back on the year, here are the seven biggest footwear layoffs of 2025.

• Puma Eliminates 900 Positions After Q3 Results
  Puma said in October that it is planning to reduce its “white collar” workforce by 900 positions as part of its third quarter earnings release.

The reduction comes on top of 500 jobs cut in March and means the company will have slashed around 20 percent of its corporate workforce this year.

The cuts come as the German activewear firm blamed a strategic “reset” as it navigates “several company-specific challenges, including muted brand momentum, elevated inventory levels across the trade and low quality of distribution.”

Measures taken so far, including stock take backs and reduced promotional activity, impacted Puma’s performance in the third quarter, both at wholesale and in its own stores and online sales, the company explained.

• Nike Makes a New Round of Corporate Layoffs
  In August, Nike disclosed a new round of layoffs, this time impacting its corporate team.

The move comes after president and chief executive officer Elliott Hill raised the possibility of layoffs in June during Nike’s earnings report for the fourth quarter of fiscal 2025.

Nike told Footwear News that 1 percent of its corporate employees will be let go. An email from the company’s leadership team informed employees of the realignment.

“Change can be difficult. It can also be what sharpens the edge, aligns the team and sets up the win,” the email, signed by Hill and members of the senior leadership team, said. “And the ‘W’ is ours to take, embracing an athlete mindset that leads with passion, commitment and determination.”

• Vans Owner VF Corp. Has Rounds of Cuts
  In May, a VF Corp. representative affirmed the news that the company has made further job cuts. “Over the past few months, VF has been working to reorganize select commercial functions globally, as part of the company’s ongoing business turnaround,” the rep’s statement said.

The rep also noted that the reorganization has impacted approximately 400 employees globally, across VF’s brands and throughout the Americas, Europe, Asia regions.

The round of layoffs in May come a few months after VF announced further job cuts in new “reorganization” efforts back in January. At the time, the company did not confirm the total number of employees that were affected.

• Adidas CEO Confirms Company Will Cut 500 ‘Obsolete’ Jobs
  Adidas chief executive officer Bjørn Gulden confirmed in March that the sports company will eliminate 500 roles.

On the company’s fourth quarter earnings call with analysts, Gulden said that these roles are “obsolete” after undergoing a strategic review to simplify operations at Adidas’ Herzogenaurach, Germany, headquarters. Adidas has around 62,000 employees around the globe, Gulden noted on the call.

This confirmation comes after an Adidas representative told FN in January that Adidas was looking into cutting jobs. The rep told FN that these cuts were are not part of a cost savings program but instead are aimed at “reducing complexity and ensure sustainable success in the future.”

• Clarks Sheds Over 1,200 Jobs
  In July, Clarks revealed in a Companies House filing that it reduced its workforce by over 1,200 employees in fiscal 2024.

The filing noted that it ended fiscal 2024 with 6,161 employees, down from 7,413 in fiscal 2023. It also stated that approximately 220 of those eliminated roles were global corporate positions.

In a statement sent to FN in July, a Clarks representative said that 2024 was “a year of challenging market conditions which had an impact on global performance.”

• UK Footwear Retailer Schuh Makes Cuts
  In January, Schuh managing director Colin Temple said in a statement that the UK-based footwear retailer would implement a new round of layoffs.

“At Schuh, our people have and always will be our most important asset,” Temple said in a statement sent to FN at the time. “Due to ongoing challenging economic conditions and rising costs, we have made the difficult decision to restructure our business. We are going through a voluntary redundancy process in some areas of business.”

While the exact number of employees affected by these cuts are unknown, Temple added that he will not be commenting any further “in the interest of respecting our employees during this time.”

REI Co-op Shutters Its Experiences Business After Nearly 40 Years
After nearly 40 years, REI Co-op shuttered its Experiences adventure travel business in January. With this move, 428 employees — including 180 people in full-time roles and 248 part-time guides — will be laid off.

“We have gone through many iterations and have explored multiple options to keep this business up and running to preserve jobs. We’ve held out as long as possible, but the fact remains that Experiences is an unprofitable business for the co-op, and we must adjust course,” REI chief executive officer Eric Artz said in a note to employees that was shared with FN.

IBM at #8.

The press release:
https://www.globenewswire.com/news-release/2025/12/09/3202657/0/en/The-Drucker-Institute-at-Claremont-Graduate-University-Releases-Its-2025-Ranking-of-America-s-Best-Managed-Companies.html

The announcement:
https://www.cgu.edu/news/2025/12/drucker-institute-2025-management-rankings/

The list:
https://drucker.institute/annual-data/annual-ranking-data-2025/