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Became close to many here in 15 years. Cannot stress this enough - The company you think you know IS planning your “winter.” Prepare. Please prepare. Putting in notice this week. And it does not matter how well you’re doing your job.
With telco moves recently, can see stank doing larger cuts and then T puts in new CEO q1. All this in effort to make it look like they’re listening.
Winter is coming.
Any news of any layoffs in HR?
With the streamlining of underwriting within Business Banking the past year, I would think this group would likely be at risk of layoffs in the somewhat near future.
Spanish telecoms group Telefonica plans to lay off at least 6,000 employees across several units before the end of the year, newspaper Expansion reported on Monday, citing people familiar with the plans.
The total number of workers initially affected by the redundancy plan could rise to 7,000 out of a global workforce of around 100,000, the report added, although negotiations with unions tend to reduce such targets.
https://www.reuters.com/business/world-at-work/telefonica-plans-lay-off-6000-workers-this-year-expansion-reports-2025-10-06/
https://mynorthwest.com/kiro-opinion/harger-washington-recession/4139846
It seems like there were more layoffs to kick off October. Anyone know who all was affected?
The petrochemical sector is struggling with weakening demand, overcapacity and a global pivot towards cleaner energy, analysts point out.
SINGAPORE: ExxonMobil’s decision to cut up to 500 jobs in Singapore signals wider industry challenges from declining demand and rising supply, analysts said.
The US energy giant on Wednesday (Oct 1) said it plans to reduce 10 to 15 per cent of its workforce in Singapore by end-2027, calling it a move to improve competitiveness in an “ever-evolving landscape” and to "position the business for future success".
The announcement followed a global restructuring plan unveiled a day earlier, which will see the company laying off 2,000 jobs worldwide, or 3 to 4 per cent of its workforce.
Analysts pointed out that ExxonMobil's cuts reflect broader challenges across the sector.
“It's a demand-supply story affecting international oil and gas companies,” said energy consultant Tilak Doshi.
“Crude oil prices are down, margins are down, revenues are down … So how do they respond to it? By cutting back.”
Other major US oil companies, including Chevron and ConocoPhillips, have announced job cuts this year, as Brent crude prices fell by about 12 per cent this year, driven by rising OPEC+ supply.
The sector is also facing weakening demand and overcapacity, particularly with the growth of petrochemical plants in China, said former Energy Studies Institute visiting senior fellow Leow Foon-Lee.
Singapore is not insulated from these challenges, given its role as a regional refining hub, he said.
Beyond oil demand and supply, companies also face uncertainties from trade tariffs and pressures to restructure as artificial intelligence reshapes operations, said Mr Leow, who is also an adjunct professor at Nanyang Technological University's business school.
SHIFT TO GREEN ENERGY
Besides ExxonMobil, other oil giants in Singapore have cut back their businesses in recent years.
In May last year, Shell sold its Bukom refinery in Singapore – one of the world’s largest oil refining and trading centres – to Indonesian firm PT Chandra Asri and Swiss-based Glencore, having earlier announced plans to cut 500 jobs over three years.
Structural shifts in the industry are being driven by the global transition to cleaner energy, automation and stricter regulations, said Dr Roger Fouquet, principal research fellow at the Energy Studies Institute at the National University of Singapore.
Singapore, like other parts of the world, is moving towards deploying cleaner energy with a goal of achieving net-zero carbon emissions by 2050.
The country was the first in Southeast Asia to implement a carbon tax in 2019. Businesses that emitted more than 25,000 metric tonnes of greenhouse gas a year had to pay S$5 (US$3.90) per tonne of carbon dioxide equivalent produced.
This tax was raised to S$25 per tonne of emissions in 2024, and will eventually be raised to S$50 to S$80 by 2030.
Analysts stressed, however, that current layoffs are tied more to demand and supply than to carbon policy.
SINGAPORE'S EVOLVING ROLE
Despite the turbulence in the industry, analysts said Singapore's petrochemical hub role is not diminishing but evolving.
"The rationalisations are paving the way for a more resilient … and future-driven market and environment,” said Mr Timo Tumuscheit, vice-president of business development for chemicals at Argus.
He said Singapore is “moving up the value chain” by focusing on more specialty chemicals, which are higher-value, produced in smaller quantities and tailored for specific functions.
Momentum is also building around biochemicals, carbon capture and low-carbon fuels, which reflect the region's shift towards more sustainable energy systems.
Although Singapore is now a hub for liquefied natural gas and bunker fuel, the fuel mix will change to cleaner fuels in future, said Mr Leow.
“And so our role has not changed. It's just the fuel mix has changed,” he added.
Mr Tumuscheit agreed: “Singapore, as a petrochemical hub, will always remain a major player and an important hub in the region and globally.”
https://www.channelnewsasia.com/singapore/exxonmobil-layoffs-petrochemical-industry-challenges-cleaner-energy-5382121?cid=cna_flip_070214
We skipped the 9/25/25 layoffs. Anyone know who all is expected to be impacted this week?
Wouldn’t it be great if leadership actually spelled out what to expect, including some of those “minor” details like severance terms?
Is this true?
The layoff is 600 people with only a handful offered a severance. Mostly tenure employees that have put in 15+ years
@eb+1k6kw57zn
Looks like there’s some layoffs happening in Milford right now. Does anyone know what groups are affected and how widespread it is?
It’s purely cost reduction. That’s why we’ve been losing so many veterans, experienced, and competent people. It’s always about the bottom line. It has nothing to do with dedication, creativity, resourcefulness, or hard work. Being a valuable contributor has become more of a burden than an advantage. Quality comes with a high price tag.
Fifth Third just announced they are purchasing Comerica to form the 9th largest US lender. The current administration is going to be a lot more open to consolidation. M&T is no longer be able to compete with the larger institutions, especially with their reliance on commercial real estate. Despite huge investments in technology, it's obvious that M&T can't keep up (as evidenced by the failed People's United conversion and an antiquated web banking platform). These layoffs could be an effort to make the company a more appealing target.
A Takeda spokesperson confirmed to FirstWord on Thursday that 137 of its employees in Massachusetts will be let go due to this change.
The layoffs are the latest to hit the pharma's workers in the state. Last year, Takeda cut nearly 1000 staffers in Massachusetts.
https://firstwordpharma.com/story/6230311
It’s just for fun:
“If USAA does plan a major layoff, it is most likely to occur before the end of 2025, perhaps in late Q4 2025 (October–December), as part of restructuring under the new CEO’s agenda.”
It also talks about if there’s someone does similar tasks as you, your odds of being laid off is higher. Based on available data, it looks like there are a lot of redundancies in the risk and compliance space. Even though there’s a lot of regulatory hurdles USAA still have to deal with, but it seems like data suggests that the current structures are not effective.
Wishing everyone impacted the best of luck in finding new opportunities. If you're comfortable sharing, I’d love to hear more about how many people were affected and what kind of severance or support is being provided.
Any details are appreciated, & it could help others prepare in case of negotiations
Wishing you all the best during this challenging time!
What's the latest on Wealth solutions?
The mood has been quite somber this morning since last Friday's shocking announcement.
We had a flash call this morning about possible impact.
Meeting invites out today for layoffs
New ceo said hard decisions will be made when discussing how we will win for shareholders... Layoffs? Lots and lots of layoffs? Yup
Hearing it's going to be big org changes. Also, all you publicly complaining about RTO and trying to protest coming into the office, you will get the response of finding out who is in charge.
Don’t delude yourselves into thinking this might be different. There’s no such thing as an employee-positive CEO. They’re all beholden to shareholders, even those few who don’t think about their own pockets first. The only question right now is how drastic the cuts will be.
A related / unrelated question. Have a Medicare PDP plan, heard on the street Elevance is getting out of that space. Did a chat on Sydney and was told 1. Yes they are leaving 2. Should have seen in 2026 ANOC. 3. They can’t tell when, how or if an ANOC was sent to me, even though I know they should be able and it is a compliance. Issue. Anyway I’ll see if they actually send it, glad my DR gave me a heads up. What’s up with Carelon anyway? Have they been reducing staff?
How long will this go on for?
I see so many people just walking away, and it makes me so angry. You’re doing them a favor! Make them lay you off! Make them pay you! Don’t do exactly what they want with everything they’ve been doing and the toxic atmosphere they’ve created. Why? Why would you do something like that?
Rumor is that EBCE folks get the axe in the coming 2-3 weeks. My question along with this is why are they still taking up people's time and still starting engagements?!
Leadership's pursuit of personal short-term gains fosters a culture of self-interest that undermines the organization's long-term success. This mindset spreads downward, encouraging employees at all levels to adopt similar behaviors, such as avoiding risks or long-term projects that don't yield immediate benefits.
Dell is the epitome of managerial hypocrisy and short-termism, lauding remote work's efficiency and sociability, only to pivot to hybrid work with false promises of promotions, then enforce full-time office attendance, all while surreptitiously laying off a large percentage of the workforce and overburdening others to evade severance costs, prioritizing savings and control over employee trust and well-being.
I still can’t figure out for the life of me how they pick who stays and who goes when it's time for cuts. Some of the best people I’ve ever worked with got cut while the dead weight’s is still around, completely unbothered. Throwing names in a hat would be a better strategy than what was used.
Any info on timing?
Who is getting canned today?
If you value your self respect and want to beat the layoffs, get out now. In three weeks you won't have a chance. The move has already started with many orders being pushed out until the move has been completed. If you wonders what is going on, a PCOE employee slipped out that two areas are closing and there work going back overseas and the employees will be laid off. All any one has to do is look around, were is the work. Warehouse employees look busy but the jobs are being sent overseas. The worst part is the PGLs are gone half the day. They won't face the employees.
Have there been any? Seems odd we have been spared so far.
Oracle’s strategy is firmly established from its earnings notice, with a clear commitment to continuing as a leader in the infrastructure space. The key upcoming changes include:
People are drowning in work! We can’t get to half of the things we need to be doing because so many have already been laid off that it’s physically impossible for the rest of us to get it all done, and yet I keep hearing about more layoffs all the time. When will it be enough?
This is the only job I’ve ever had where I have to worry about layoffs every two weeks. I’ve worked for other major banks, I’ve worked in other industries too, and nowhere was it ever this bad. I thought joining Wells Fargo would be a great career opportunity for me. Instead, I’m already looking for something else because I’ll be damned if I’m going to stay at a place where layoffs are such a normal, accepted thing that they happen every 14 days. I can lose the pay raise I got by moving here, I don’t even care, but I’m not staying.
When are the next business control layoffs?
Does anyone know if they’re doing it based on seniority, highest pay, department, etc?
Anyone know if some departments/entities are gonna be hit more than others?
Rumors are getting strong that there will be big layoffs in Q4 2025. HR is preparing the lists. Each VP got a target number for their department. It will be a sad Xmas season for a LOT of people.
Sounds like it is going to be a quarterly thing from now.
Glad they are finally addressing the problem with all the under performers.
Listen up. If you’re looking to get a job with Chevron anywhere, please do not be fooled. Chevron is building their ENGINE facilities in India and has no intention of taking care of their American workers who have built the company.
Hey, I get it… If you need a job, use them to get a job so you can have an income and benefits while you’re looking for another job. Don’t think that they will reward you if you work really hard for the company. That’s not how Chevron operates. Their MO is to use you to produce only until they find someone to do your job cheaper, as evidenced by the recent layoffs. It’s well known that they lay off older workers to cut off their pensions and hire younger workers at lower wages systematically.
Chevron has about $257 billion in assets. Their net profit was 35.465 billion in 2022, 21.369 billion in 2023, 17.661 billion in 2024 and they’re on track for 13.441 billion in 2025. Do you notice the downward trend in profits? That translates into layoffs and offshoring and outsourcing jobs for greater profitability.
Their recent layoffs were particularly brutal for their older workers. People dedicated their lives to the company under the false belief that they would retire with the full pension that they were promised when they started working for them. Your grandfather‘s Chevron is not the current Chevron that exists. As soon as this CEO is done taking his hatchet to Chevron and jumps ship with his golden parachute they will bring in a new CEO with lots of new and bold promises. Don’t fall for it.
Those of us who have been retained at Chevron know that our heads are on the chopping block. We have watched very intelligent, talented, dedicated, and experienced colleagues get laid off via email with the attitude to not let the door hit you in the a$$ on your way out. After 20 years with this company, I was appalled at how they treated my colleague at the end of his career here. No parting words of thanks, no retirement celebration, no words of praise or thanks…a simple kick in the a$$ via email and adios amigo.
PLEASE, if you’re thinking of a career at Chevron, DON’T. If you need a job, use them just long enough to land another job and get out as soon as you can. I’ve done my duty to alert you. If you’re reading this and decide to work for them, when it happens to you, you won’t be able to say that nobody ever told you or that you didn’t see it coming. A word to the wise is sufficient.