#layoffs

Global sales leader has given mid level management orders to clean house before the new year. As much as 70% of the sales force could be in danger. Hug your loved ones and brace yourself!

Isn't the Accenture contract cancellation date fast approaching? Does anyone know how many current Accenture contractors will be brought on by the new vendor and how many will be let go?
Someone I know who is still there tells me they have been setting up access for new the new vendor like crazy.

Verizon’s version of the Big Short. Layoffs for short term stock gains.

https://youtu.be/Ihs2r2O-b5s?si=cCIxaxPOkfkSIOOr

HD Supply’s distribution center in Middle Tennessee will permanently close next year, with layoffs announced ahead of the holiday season.

https://www.wsmv.com/2025/10/28/tennessee-supply-plant-closing-laying-off-more-than-100-workers/

Got word that consumer services in E&I is next told they are “very overstaffed”.

Just when all thought waves 1 and 2 are done, and we are told to get on with it, it is not done. MK & big consultants are waving their magic wands to move more jobs to Engine. More announcements coming soon

This is my warning to everybody. Through insider information, there will be layoffs in February. Possibly hardest hit will be collab. Managers will be made aware right around Christmas time, everybody else notified weeks after the new year.

Company is finished with the layoffs. Company is done with mistreating its employees. Although your manager or director still might be an a-s.

Once there was a bank that made record profits because their employees worked to lift the asset cap. Then one day Scrooge decided force rank employees so at least one from each team got cut no matter how good they were. That year the families that lost jobs had a miserable Christmas and worried about affording their mortgages and healthcare. Some families couldn’t let their kid go back to college in January because they lost their job. Then one day the ghost of Christmas future paid a visit to the leaders in charge and….(continue the story below)

Why didn’t VH have Q&A at her townhall. Seems like something is brewing. Surely she knew people would ask about the VSP and layoffs.

To my Spain and US colleagues how are we feeling after the recent Spain reduction? Gartner always thinking about their people especially before the holidays ha

Departments across the University may soon need to downsize or lay off employees to meet reduced budget targets as Yale cuts costs in preparation for the endowment tax hike set to take effect in July, administrators announced in a Wednesday message addressed to faculty and staff.

https://yaledailynews.com/blog/2025/12/04/layoffs-may-come-as-yale-seeks-to-shrink-staff-amid-budget-cuts/

Those in management circles what are you hearing about the quiet layoffs going on? Management seems intent on making things so bad for employees with the wirthless 4 days in office, benefits cuts and sheer arrogance from leaders. This American company doesn't care about America anymore. Can we outsource our CEO?

Will be the last straw for most at HP. Good luck everyone. It’s going to be a bloodbath.

Gone. All gone.

I see posts on here all the time lamenting PE ownership, made without any understanding of how we got to this point, and how this goes all the way back to asinine decisions pre-bankruptcy in 2013. I’ve decided to play Cengage historian and lay some of this out for posterity, and so I can yell at the sky

2012–2013: Debt pile gets ugly
• Pre-bankruptcy: Before Chapter 11, Cengage was already doing financial engineering just to push out maturities — e.g., in 2012 it sold $725M of 11.5% senior secured notes due 2020 and amended its credit facilities to extend term loan and revolver maturities.
• July 2, 2013: Cengage files for Chapter 11 with about $5.8B of outstanding debt, announcing a “pre-arranged” restructuring to eliminate more than $4B of that.
Even before bankruptcy, they were in the classic LBO textbook-publisher trap: lots of high-coupon debt, some of it maturing in big lumps, and a business that’s not exactly a rocket ship.

2014: Emerges from Chapter 11… still leveraged
• April 1, 2014: Cengage officially emerges from Chapter 11. The plan cuts ~$4B of funded debt and brings in $1.75B of new Term Loan B financing, plus a $250M asset-based revolver, as exit financing.
• Post-reorg, they’re no longer at $5.8B of debt, but they do still have roughly ~$1.8–2B of funded debt sitting above a business doing around ~$2B of revenue at the time, still pretty leveraged.

That Term Loan B is key. By design, those loans usually have tiny quarterly amortization and then a big “bullet” (lump-sum) repayment at maturity. You drag a big principal balance for years, paying interest the whole time, then face a huge refinancing/repayment cliff at the end.

2014–2019: Term loan era, dividend recaps, and financial engineering
• In the years after emergence, Cengage spends a lot of time tweaking the capital structure: repricing the term loan, issuing additional term debt, and even doing share-repurchase and dividend recap transactions (they literally disclosed a “dividend recapitalization” in FY2015 current reports).
• if you’re still doing buybacks / dividends and refinancing loans rather than aggressively paying them down, you’re implicitly betting that refinancing the big bullet at the end of the term will be doable when you get there.
So by late 2010s you’ve got a company that did cut its original $5.8B anchor, but is still sitting on a large secured term loan and reliant on capital markets to roll that over when maturities and balloon payments come due.

2019–2020: Aborted McGraw-Hill merger, more uncertainty
• In 2019 Cengage announces a planned merger with McGraw-Hill and a related amendment to its senior secured credit facilities, again, capital structure is clearly front-and-center.
• The merger is ultimately called off in 2020 after regulatory issues, which leaves Cengage still independent, still carrying its own debt stack, and now without the scale/merger synergies that were supposed to help.
So by early 2020s, you’ve got: meaningful secured debt, a term-loan structure with big future maturities, and no merger “escape hatch.”

2021–2022: Rising rates + debt drag
• For FY22 (year ended March 31, 2022), Cengage reports adjusted cash revenue of about $1.37B and Adjusted Cash EBITDA less prepub of ~$326M.
• That’s a decent EBITDA number, but on top of a large term loan it still implies a non-trivial leverage ratio. As global rates move up and credit spreads widen (2022–2023), the cost of keeping that debt financed goes up, and the risk of refinancing a big bullet at attractive rates gets worse.
The company itself starts talking more about “financial flexibility” and de-leveraging in investor materials around this time… they know the balance sheet is constraining what they can do.

April 2023: Apollo preferred equity to prevent collapse
• April 17, 2023: Cengage announces that Apollo Funds will invest $500M into a new series of convertible preferred stock
• In the press release, Cengage explicitly says it will use the proceeds to “reduce outstanding debt and lower interest expense,” and to “increase financial flexibility” to invest in growth.
The old LBO-style debt and its balloon risk were getting harder and more expensive to carry in a higher-rate world. Rather than wait for a ugly refinancing fight when the big maturities hit, they sold a chunk of the company to Apollo via preferred equity, then used that cash to pay down loans and push the maturity wall further out.

2023–2025: PE priorities, “efficiency,” and repeated layoffs
Once Apollo is in, the priorities shift to the usual PE playbook:
• Sharpen the focus on EBITDA, cash flow and “portfolio mix
• Cuts, cuts, cuts

A classic pattern of a ZombieCo:

1. Heavy term-loan/balloon-style post-bankruptcy debt +
2. Rising interest rates and a tougher refi environment
3. Need to de-risk the maturity wall with Apollo preferred equity
4. Apollo-style mandate to improve profitability and reallocate capital
5. Repeated restructuring and headcount reductions

Anybody hearing anything about layoffs? We know we had a few hundred cuts to the product teams in August, but February is a weird time too.

Don't get me wrong, there definitely was nepotism and racism with hiring inside orgs, namely IT, but this all started long before any of that. The C-level all across the US, not just Verizon, sold us out. Not the people working to live in other countries. Yet, somehow we want to blame the lower working people. Continue to be lied to, live in ignorance and be exploited. God help the next generation that will have to live through the same lies they spin-doctor with AI (once it's matured to be production ready).

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Any indication January or March will be the next wave ? It seems Tech Layoffs are in .

Genuinely curious, have any Neustar VP’s and above been laid off since joining TU?

If they are doing layoffs DBO needs to go. A complete bureaucratic nightmare TN has created.

I didn’t get that much sleep . I felt sick this morning

But now I feel relieved . No longer having to worry is this the day ?

I’m almost 100% sure more RA’s in February

I was really Angry at Alvind and his Pipmunks but I really don’t care about them now

They have no concern about us.

But back to us whose last day was today I hope you are all well and that there are better opportunities out there

You deserve better

Has anyone heard anything new on if Provider Services (under Kelly B.) is still in the “safe” zone as far as layoffs (or even upcoming changes in general) are concerned? We were told on the last round we were safe, but there was not confidence on how long that would be.

Why is our manager doing one on ones to tell us, if we dont hit the full quota this month, we may not have jobs next month? Something seems fishy.

Has anyone ever heard of an employee with less than 7 years at HPE ask to be on the WFR list?

Field Service is done for, what's next ?
Oh and Happy Holiday's to you. Early Christmas gift.

Even though I'm still employed, the constant wave of cuts keeps my nerves high all the time. It's really hard to shake the idea that I’m next. Saving aggressively and keeping my resume ready has now become routine. Strange how normal this mentality feels now.

Genuinely curious to know how its going after cutting down entire members of many important teams.

Wonder if anyone still have faith for ExxonMobil Singapore future. The recent cut was very harsh and again a political game in the company. There are many whole day do nothing didnt get cut but there are ppl work damn hard get cut.. do you still like to work here ? What is the future to work here in dying sunset industry with flooded China and regional advancement and high quality and cheaper products.. sell gas station, shutdown cr--ker, whats next 5yrs, 10yrs? What else will remain running? Comments please...

The more I hear who got riffed the more it seems some locations took a much bigger hit…like Tulsa. Feel sorry for those that work there as they must be wondering what’s next

It seems there might not be any layoffs from the general pool of people with the exception of those that took the VSP. VH didn’t address it and it seems the company is well position for the future. What’s your take on the townhall? Have you heard any rumors of any upcoming layoffs?

I heard they cut some of the fat cats at the top of the hierarchy. They are making them reapply for their positions while also providing severance pay? I haven't noticed any of those positions listed either internally or externally. From what I hear, they covet fresh ideas and are looking for external applicants for those positions.

Did they just decide they can manage without the higher salaries at the top? I worked near one of them, and they always seemed to be doing nothing at all, they are from the Maryland area. They complained half the time about their direct report and the other half just looked busy and left early often. I know WIM sales is very heavy with people making too much. Is this a sign of the future? Cut from the top and move down instead of the usual cut from the bottom and gradually move up?

By America Hernandez and Stephanie Kelly
October 7, 2025

SUMMARY

• Current payouts unsustainable with oil below $80 a barrel

• Crude oil prices expected to continue falling

• Companies under pressure to cut debt

• Reduced buybacks and job cuts announced

PARIS/LONDON, Oct 7 - The five biggest global oil majors are moving to cut costs, jobs and share buybacks as falling oil prices threaten to make shareholder payouts unsustainable without increasing debt, analysts said.

Chevron (CVX.N), ExxonMobil (XOM.N), BP (BP.L), Shell (SHEL.L), and TotalEnergies (TTEF.PA), have pledged high returns for the past decade to avert an investor exodus as fossil fuels lost their appeal.

But maintaining those generous payouts, which have topped $100 million annually since 2022, has increasingly been funded by debt as energy prices retreated from highs caused by sanctions and supply disruptions in the wake of Russia's invasion of Ukraine.

https://www.reuters.com/business/energy/oil-price-fall-turns-up-heat-big-oils-bloated-payouts-2025-10-07/

Here are some rough numbers pulled from the WARN Tracker website. This shows the number of rounds of layoff occurrences for each year. For example, employees were laid off during 24 instances of layoffs in 2025. Sobering numbers to say the least!:

2026 - 1 (notice went out 11/4)
2025 - 24
2024 – 12
2023 – 16
2022 – 9
2021 – 22
2020 – 3
2019 – 7
2018 – 14
2017 – 5
2016 – 4
2015 – 1
2014 – 0
2013 – 3
2012 – 0
2011 – 10
2010 – 3
2009 – 1
2008 – 1
2007 – 1

Rumor is reviews for the data governance tech reviews are being done by HR, not managers, and are going to be used as a framework for RIFS so offshoring can be accelerated.

looks like the house of cards is coming down...

So.....how are things going? Migration on track? Which groups are being migrated right now? Good improvement?

Any truth to mass layoffs in March 2026 and for what groups?