#news

The news of today’s company-wide layoffs, which impacted most business units, is a difficult blow for our team, the industry, and especially those directly affected. The cuts were heavily concentrated in customer-facing positions, customer support, and engineering, signaling a strategic shift that is raising serious concerns among customers, partners, and investors.

The Elephant in the Room: SAP and the Rule of 40. Reports have been circulating that our executives are aggressively optimizing the company to meet the Rule of 40 financial benchmark, a common metric for SaaS companies where a company’s revenue growth rate plus its profit margin should equal at least 40%. This comes amid rumors of a potential buyout offer from SAP.

This approach prioritizes a quick financial metric over the long-term health of the business. Investors, partners, and especially customers should be asking: What value remains in a company that sacrifices the people who build, support, and sell the product for a short-term multiple?

My thoughts are with all of the incredibly talented individuals impacted by today's news.

What is the news on staff reductions as the MRC/DNOW merger progresses?

https://www.arctera.com/press-releases/cloud-software-group-completes-acquisition-of-arctera

https://www.wbtv.com/2025/12/01/north-carolina-based-restaurant-chain-abruptly-closes-doors-after-almost-90-years/

Just curious if anyone has info on where it's at

Get ready for some more big announcements coming to a theater near you! Getting ready for a big year in 2026! Not going to be pretty! Hold on!

https://www.reuters.com/sustainability/society-equity/att-commits-ending-dei-programs-2025-12-02/

State Dept finalizes mass layoffs, says employees won’t be reinstated under shutdown-ending deal
Federal News Network
Tue, 02 Dec 2025 19:27:43 GMT

The State Department is notifying some employees targeted by mass layoffs... their official separation date is imminent / & is not affected by a shutdownending spending deal that forced some agencies to rescind layoff notices.

Outright Games is making 27 employees redundant. The Chicken Run: Eggstraction and Teenage Mutant Ninja Turtles: Mutants Unleashed publisher said the decision will enable it to adapt to shifting market conditions.

https://www.gamedeveloper.com/business/uk-publisher-outright-games-confirms-layoffs

It looks like another round is starting at Hughes this week.

Do we have sufficient seats ? any news ?

Everything down..... Wtg btc

There are still a lot of stragglers in Winston-Salem, NC. I know the building's being cleared out and sold, but I still don't know many people that have been told anything.

Huntington National Bank to begin layoffs tied to Veritex acquisition
The Business Journals
Mon, 01 Dec 2025 20:25:00 GMT

Huntington National Bank is preparing to begin layoffs as a result of its recent acquisition. These job reductions are directly tied to the integration of Veritex. The process of merging the two companies often results in overlapping roles and redundancies. Affected employees will experience job loss as the bank streamlines its combined operations. This move is part of an effort to optimize the workforce and structure following the acquisition.

https://www.wfaa.com/article/money/business/huntington-national-bank-dallas-layoffs-veritex-acquisition/287-e9d05913-ea3a-4079-8313-20a64524db2d

"As part of the closure of its blast furnace and coke making operations, Algoma has made the difficult decision to issue approximately 1,000 layoff notices today, effective in 16 weeks on March 23, 2026," reads an emailed statement from the company.

https://www.cbc.ca/news/canada/sudbury/northern-ontario-steel-mill-issues-layoff-notices-to-1-000-workers-9.6998768

Newell Brands will cut 900 jobs, or 3.8% of its global workforce, and take up to $90 million in restructuring charges, the Sharpie maker said on Monday.

The company will also close about 20 Yankee Candle stores in the U.S. and Canada, collectively representing roughly 1% of brand sales of the scented candles, by January next year.

https://www.reuters.com/business/retail-consumer/sharpie-maker-newell-brands-to-cut-900-jobs-take-up-90-million-charges-2025-12-01/

For all those who mocked the once great competitor, is Xerox about to face its very own ‘Kodak Moment’ ?

Given all the pseudo prognosticators of dark times, I haven't heard of any notable layoffs this year in Dearborn.

Most "news" organs aren't covering what's happening at WF. Maybe if people called their local newspaper and TV news stations, they would start reporting on WF's "management" approach.

TIA

##The new Comdex ranking scores are out and Mutual of America Life scored a 57 and ranked 185 out of 222. Below Mutual of America, was Nassau Life and Genworth and a few others##

https://myannuitystore.com/comdex-score/

U.S.-based employers announced 153,074 job cuts in October, up 183% from September and up 175% from October 2024, according to job placement firm Challenger, Gray & Christmas.

“This is the highest total for October in over 20 years, and the highest total for a single month in the fourth quarter since 2008. Like in 2003, a disruptive technology is changing the landscape,” said Andy Challenger, workplace expert and chief revenue officer for Challenger, Gray & Christmas.

https://finance.yahoo.com/news/us-job-cuts-surged-183-123000806.html

• 'Grand Theft Auto VI' was delayed again to November 2026, roughly around the time of Rockstar Games' layoffs controversy.
• Layoffs at Rockstar Edinburgh cited confidentiality breaches; employees claim union organizing motivated firings.
• City councillor and union push for fired employees’ reinstatement and financial support.

https://www.mensjournal.com/news/rockstar-faces-motion-reverse-layoffs-gta-6-delay-concerns

President Donald Trump's administration had cut off $790 million in grants in a standoff that contributed to university layoffs and the resignation in September of Northwestern president Michael Schill.

https://www.usnews.com/news/us/articles/2025-11-29/northwestern-to-pay-75-million-in-deal-with-trump-administration-to-restore-federal-funding

While admitting there are so many that they don't want to say the number.

https://techrights.org/n/2025/11/28/Loads_of_IBM_Departures_So_Far_Today_Buy_Nothing_Day_IBM_Pays_P.shtml

https://www.wsj.com/tech/intel-defends-its-star-executive-hire-in-legal-clash-with-tsmc-e6c9de6e

Nevada-based battery recycler Redwood Materials is laying off staff. The company is cutting approximately 5% of its workforce. This news comes just weeks after it secured a massive $350 million funding injection.

https://inews.zoombangla.com/why-redwood-materials-cut-5-of-jobs-after-350m-raise/

The Santa Barbara County Public Health Department paused its plan to make layoffs and transition thousands of patients away from county clinics due to “unsatisfactory immigration status.” The decision follows an ongoing injunction to a change in federal law.

https://www.santamariasun.com/news-2/county-public-health-pauses-layoffs-and-patient-transfers-left-with-budget-deficits/

https://www.theverge.com/news/831353/intel-tsmc-wei-jen-lo-trade-secrets

What a surprise ? Not ! More barefaced lies and FUD from Alvind, Krabanaugh and the Pipmunks. But we all know that already. Whatever happened to Design Thinking ? It went out of fashion. We need new IBM buzzwords for putting a load of BS on Kramer.

https://www.msn.com/en-us/money/companies/ibm-s-gen-z-hiring-pledge-collides-with-harsh-layoffs/ss-AA1RcGLF?ocid=msedgntp&pc=W099&cvid=6927aafe67f94a858f69a0409678bfdc&ei=31

https://markets.ft.com/data/announce/detail?dockey=600-202511260330PR_NEWS_EURO_ND__EN33185-1

Really?

Former US Representative Dave Brat claims 'industrial-scale fraud' in H-1B system, alleging that Chennai district got 220,000 visas while India cap is 85,000

The Federal
26 Nov 2025 5:25 AM

Former US Representative and economist Dr Dave Brat has alleged widespread fraud within the H-1B visa system, claiming in a podcast that India’s Chennai district (Tamil Nadu) secured more than twice the total number of visas legally permitted nationwide.

Speaking on the podcast, Brat said the H-1B system had been "captured by industrial-scale fraud", asserting that visa allocations from India were surpassing the statutory limits.

https://thefederal.com/category/news/us-economist-flags-h1b-fraud-india-chennai-220000-visas-217952

This is a surprise. I wonder what will happen to Finance. I heard a lot of NYC jobs are going to lower cost locations.

https://finance.yahoo.com/news/citi-cfo-mason-to-step-down-after-ceo-frasers-power-consolidation-135104516.html

HP Inc. (HPQ) reported fiscal fourth quarter earnings results after the close on Tuesday, which topped Wall Street estimates on both the top and bottom lines. The company also announced it is pursuing new AI initiatives, which include reducing "gross global headcount by approximately 4,000-6,000 employees."

BoA downgrade, split company.

Expect more layoffs in December.

The ship is sinking mates.

Ford Sales in China
2017: 1.2 million
2020: 602K
Jim Farley took over as CEO of Ford on October 2020
2022: 490K
2023: 455K
2024: 175K
2025: 115K (forecasted)


SAP SE was sued by supply-chain artificial intelligence firm o9 Solutions Inc., which claimed three of its former executives stole trade secrets for the European software giant.

In a complaint filed Tuesday in Dallas federal court, o9 claimed the stolen trade secrets concerned the design, implementation and testing of its supply-chain management software. The company, whose backers include KKR & Co. and General Atlantic, was valued in 2023 at $3.7 billion.

According to o9’s suit, longtime market leader SAP was losing customers to competitors in the business-planning software space due to its outdated platform. As a result, SAP allegedly launched an “aggressive campaign” to target o9’s trade secrets. Since the documents were reportedly stolen, o9 claims SAP has altered its software to closely mirror the startup’s offerings.

A representative for SAP declined to comment on the lawsuit.