#news

https://www.sdxcentral.com/analysis/the-5-firms-who-could-buy-intels-network-business/

Letter: Planned layoffs at Edward Jones betray its own company culture

Financial giant Edward Jones announced that it will lay off potentially hundreds of employees at its Des Peres office to improve efficiency. ("Behind the layoffs: Edward Jones looking to invest in new tech, analysts say," March 16.) That’s shocking and disappointing to many longtime employees, who see it as a shift in the 100-year-old culture created by founder Ted Jones and succeeding managing partners. The firm has always emphasized a balance between maximizing profits, stability and long-term career growth.

In 2022, Edward Jones recorded a net income of $1.4 billion, which increased to $1.6 billion in 2023. From 2023 to 2024, Managing Partner Penny Pennington's pay increased more than 15 percent, from $25.1 million to $29.1 million. Pay for other senior officials increased as well.

The impending layoffs could be avoided by reducing executive bonuses and scaling back non-essential spending. It doesn’t help to hear reports that Edward Jones has begun outsourcing support roles to India, as well as training.

While internal announcements emphasize a drive for greater efficiency, the simultaneous potential layoffs reveal a more fundamental cost-cutting strategy.

Executives appear to be placing bets on the firm’s future by sacrificing employer stability and long-term career growth. This disconnect between corporate rhetoric and employee realities is alarming to staff members, and underscores a growing insensitivity in the firm that goes deep into the culture of what made Edward Jones a special place.

Source: https://www.stltoday.com/opinion/letters/article_5de9fe5a-2115-4159-aea8-8f3597bb83d8.html

Archived at: https://archive.is/KTw0G

This as-told-to essay is based on conversations with 49-year-old Damon Duncan, who is based in Atlanta. His identity and salary have been verified by Business Insider. This conversation has been edited for length and clarity.

• Damon Duncan, a 49-year-old former sales engineer, took a drastic pay cut after he was laid off.
• Duncan's salary dropped from $148,000 to $52,000, impacting his family's lifestyle.
• Despite applying to hundreds of jobs, Duncan is struggling to re-enter the technical sales field.

Damon Duncan, a 49-year-old former sales engineer, took a drastic pay cut after he was laid off.

Duncan was laid off in 2023 and again in 2024. Since then, he has taken an entry-level position with significantly less pay.

Duncan’s salary dropped from $148,000 to $52,000, a change that has deeply impacted his family’s lifestyle. Despite applying to hundreds of jobs, he continues to struggle to re-enter the technical sales field.

This as-told-to essay is based on conversations with 49-year-old Damon Duncan, who is based in Atlanta. His identity and salary have been verified by Business Insider. This conversation has been edited for length and clarity.

I was laid off from my job as a sales engineer in April 2023. That was the last job I had in my career field.

It has now been more than two years since I worked in technical sales. I took a couple of related roles after my company went through a merger, but I was laid off for a second time in August 2024. I remained unemployed until I finally took a drastic step back — both in position and in pay.

I went from being a sales engineer, an architect, and an account executive to working at a consulting firm in an entry-level cold-calling job.

The majority of the people I work with are fresh out of college. When I sit with them in the common room, they’ll say things like, "This is my first big boy job fresh out of college," while I’m sitting there, almost 50 years old, with a child about to go to college myself.

It came with a massive pay cut

I now make about one-third of what I earned at my sales engineering job. At my former role, my base salary was $148,000, but now it is $52,000.

The layoff cost us a lot of money, and because of it, we don’t travel anymore. Our credit also took a massive hit, and we weren’t able to cosign on a loan for our daughter to attend college. She decided to take a gap year and start at a local tech school instead, building savings and credit so she can eventually take out loans and transfer.

We’ve had to cancel a lot of services we used to rely on. Typically, we could hire people to handle big tasks, but now I take them on myself during weekends.

Instead of spending my weekends with my family, I spend them fixing things around the house — rebuilding a staircase, working on cars, painting rooms, replacing light fixtures, AC plugs, light switches, and other projects.

We couldn’t afford to repair my daughter’s car, so we had to get rid of it. Now we’re down to two cars instead of three. We often have to carpool, which isn’t the end of the world, but it’s inconvenient at times. My company also required employees to return to the office, which means I now spend two hours a day commuting — one hour each way.

All of this has affected my family immensely.

I no longer understand the market

I’m trying to get back into the field that supported me for most of my 20-year career, but nobody is hiring me or even interviewing me seriously.

Since being laid off in 2023, I’ve applied to hundreds of jobs. I did receive one offer last year, but it was rescinded because of company changes. Other than that, I’ve had some interviews, but I’ve never made it to the acceptance stage.

I still apply to anywhere between two and five jobs a day.

No matter how I update my résumé or how much outreach I do, it feels pointless. I’ve followed every piece of advice — networking, customizing applications, everything. But it feels like throwing darts at paper, hoping one lands. I don’t understand the market anymore. It doesn’t make sense.

I’m doing this current job because I have bills to pay and a family to provide for. I’m stuck where I am until I can hopefully find another opportunity.

I have a feeling people assume I’m too expensive because of my experience, or that I’ll immediately leave once I find something better. But they don’t realize that I’m applying to these jobs not only because they’re in my field, but also because I view them as possible careers.

I don’t need just a job. I’m not 20 anymore. I need a career. I have three kids — one about to go to college, and two more following. I’ve got weddings to pay for in the future. Realistically, I’ll be working until I’m 80. What I need is stability.

Ageism may also be at play

I suspect some of this difficulty comes down to ageism. But older workers bring wisdom and experience. We’re not flashy, but we’re reliable.

People like me, Gen Xers, know how to be scrappy. I’m working an entry-level job right now despite having 24 years of experience. If that doesn’t prove my willingness to work hard and adapt, I don’t know what does.

Have you struggled to find a job?
Reach out to the reporter via email at aaltchek@insider.com
or through the secure messaging app Signal at aalt.19.

With the latest bay area announcement (see https://www.crn.com/news/networking/2025/cisco-layoffs-total-more-than-200-in-bay-area-cut), and seeing really good employees take the hit recently, this article has now made me lose all hope that there is a future for me at Cisco.

This company is unrecognizable from even just a few years ago. One by one they keep plucking off the good ones. It really is just a matter of time.

So... I hope to go through my five stages of grief (currently in phase 2 - anger) quickly and get to acceptance so I can plan the future and get on with my life. I'm just... sad. It didn't have to be this way.

An article came out about GBS and not a single US based associate was in this article. The future is clear and we'll soon be Bank of India

The company said it would encourage the affected employees to apply for open roles, which could lower the final layoff figure. The cuts are out of a total workforce of 15,638 employees as of last year.

https://www.sfchronicle.com/bayarea/article/intuitive-surgical-robot-maker-layoffs-sunnyvale-21016652.php

Anyone has any news?

https://www.thedailyupside.com/technology/semiconductors/ibm-and-amd-team-to-develop-quantum-centric-supercomputers/

This site used to have good information related to coming layoffs. Now all it seems to have is people complaining about upper management and/RTO. Sadly, the site is becoming more irrelevant as time passes.
So I will try one more time. Does anyone have any REAL intell on coming layoffs?

Does anyone have some additional info about this?

https://www.ynetnews.com/business/article/rkgbewtgex

https://www.wsj.com/business/energy-oil/exxon-rosneft-russia-oil-talks-f524e81f

Microsoft president responds to protesters breaching HQ, 7 arrested

Redmond Police arrested multiple protesters after they entered the executive office at Microsoft headquarters on Tuesday.

https://mynorthwest.com/local/microsoft-hqs-protesters/4124652

MyNorthwest.com

Aug/27/2025 12:24 AM

Location: Redmond, Washington

Title: Edward Jones begins layoffs, including at its headquarters
Link: https://www.spokesman.com/stories/2025/aug/26/edward-jones-begins-layoffs-including-at-its-headq/
Source: The Spokesman-Review
Date: 2025-08-26
Time UTC: 18:53
Domain: www.spokesman.com

Summary: Edward Jones employees began receiving layoff notices on Monday as the company moves forward with a workforce reduction first announced in..."

Title: Edward Jones plans layoffs amid restructuring efforts
Link: https://fox2now.com/news/missouri/edward-jones-plans-layoffs-amid-restructuring-efforts/
Source: FOX 2
Date: 2025-08-19
Time UTC: 21:53
Domain: fox2now.com

Summary: Edward Jones plans layoffs amid restructuring efforts ... ST. LOUIS – Edward Jones, the financial services firm headquartered in St. Louis County,..."

Title: Edward Jones layoffs about to hit employees, home office staff.
Link: https://www.investmentnews.com/wirehouses/edward-jones-layoffs-about-to-hit-employees-home-office-staff/261746
Source: InvestmentNews
Date: 2025-08-19
Time UTC: 21:53
Domain: www.investmentnews.com

Summary: Edward Jones layoffs about to hit employees, home office staff ... It is not clear how many employees will be affected, but none of the private..."

Title: Edward Jones begins layoffs, including at its Des Peres headquarters
Link: https://www.stltoday.com/news/local/business/article_66d99722-68e4-41b7-9b55-0cb0b864fe51.html
Source: STLtoday.com
Date: 2025-08-25
Time UTC: 21:53
Domain: www.stltoday.com

Summary: The layoffs were announced in March but are taking place this week."

Title: Edward Jones planning layoffs before the end of August
Link: https://www.msn.com/en-us/money/other/edward-jones-planning-layoffs-before-the-end-of-august/ar-AA1KxJgY?apiversion=v2&noservercache=1&domshim=1&renderwebcomponents=1&wcseo=1&batchservertelemetry=1&noservertelemetry=1
Source: MSN
Date: 2025-08-24
Time UTC: 21:53
Domain: www.msn.com

Summary: Edward Jones will reduce the size of its home office that employs more than 9,000 people by the end of this month, but it's unclear how many will lose their..."

Title: Edward Jones Plans Home Office Layoffs This Month
Link: https://www.thinkadvisor.com/2025/08/18/edward-jones-plans-home-office-layoffs-this-month/
Source: ThinkAdvisor
Date: 2025-08-19
Time UTC: 21:53
Domain: www.thinkadvisor.com

Summary: Edward Jones Plans Home Office Layoffs This Month ... Edward Jones has issued an internal memo indicating it will unveil cuts to home office staff..."

Title: Edward Jones layoffs to hit before end of month
Link: https://www.bizjournals.com/stlouis/news/2025/08/14/layoffs-loooming-at-edward-jones-before-month-ends.html
Source: The Business Journals
Date: 2025-08-12
Time UTC: 21:53
Domain: www.bizjournals.com

Summary: Story Highlights · Edward Jones will reduce home office staff by Aug. 26. · Layoff numbers and locations remain undisclosed by the company."

Title: Edward Jones confirms plans to carry out layoffs in its ‘home office’ – here's why - Hindustan Times
Link: https://www.hindustantimes.com/world-news/us-news/edward-jones-confirms-plans-to-carry-out-layoffs-in-its-home-office-heres-why-101755419506334.html
Source: Hindustan Times
Date: 2025-08-19
Time UTC: 21:53
Domain: www.hindustantimes.com

Summary: Louis County, has planned to carry out layoffs as part of a companywide restructuring effort. The company says on its website that it has “..."

Title: Edward Jones layoffs set to begin by end of the month
Link: https://citywire.com/pro-buyer/news/edward-jones-layoffs-set-to-begin-by-end-of-the-month/a2472224
Source: Citywire
Date: 2025-08-19
Time UTC: 21:53
Domain: citywire.com

Summary: In March, Edward Jones announced it had started what the firm says will be a 'multi-year initiative' to restructure the business, which will..."

Title: Edward Jones’ “Enterprise Reimagined” Puts 9,000 Support Jobs at Risk
Link: https://stlawyers.ca/blog-news/edward-jones-reorganization-job-cuts-2025/
Source: Samfiru Tumarkin LLP
Date: 2025-08-20
Time UTC: 21:53
Domain: stlawyers.ca

Summary: Edward Jones is moving ahead with a significant internal overhaul — and thousands of employees who support its 20,000 financial advisors..."

Title: Edward Jones to layoff local employees during restructuring
Link: https://www.firstalert4.com/2025/03/12/edward-jones-layoff-local-employees-during-restructuring/
Source: First Alert 4
Date: 2025-03-12
Time UTC: 00:00
Domain: www.firstalert4.com

Summary: Edward Jones is restructuring, which will include laying off employees. Wednesday afternoon, a spokesperson for Edward Jones sent First Alert 4 the below..."

Title: Edward Jones Laying Off Home Office Workers Amid Restructuring
Link: https://www.wealthmanagement.com/ibd-news/edward-jones-laying-off-home-office-workers-amid-restructuring
Source: WealthManagement.com
Date: 2025-03-13
Time UTC: 00:00
Domain: www.wealthmanagement.com

Summary: Edward Jones, one of the country's largest brokers/dealers, has started a multi-year restructuring of its home office team in St. Louis, which will lead to..."

Title: Edward Jones will cut 'home office structure' in multi-year move
Link: https://www.ksdk.com/article/news/local/business-journal/edward-jones-will-cut-home-office-structure-multi-year-move/63-f1e93bac-4182-40d7-b42b-ba47204c5326
Source: KSDK
Date: 2025-03-12
Time UTC: 00:00
Domain: www.ksdk.com

Summary: Edward Jones said Wednesday that it plans to reduce the size of its home office, but didn't provide details on whether that would trigger..."

Title: Edward Jones to layoff local employees during restructuring
Link: https://www.msn.com/en-us/news/us/edward-jones-to-layoff-local-employees-during-restructuring/ar-AA1ANz9q?apiversion=v2&noservercache=1&domshim=1&renderwebcomponents=1&wcseo=1&batchservertelemetry=1&noservertelemetry=1
Source: MSN
Date: 2025-08-19
Time UTC: 21:53
Domain: www.msn.com

Summary: ST. LOUIS, Mo. (First Alert 4)—Edward Jones is restructuring, which will include laying off employees. Wednesday afternoon, a spokesperson for Edward Jones..."

Title: Layoffs looming in wild 2025?
Link: https://www.investmentnews.com/ria-news/layoffs-looming-in-wild-2025/260152
Source: InvestmentNews
Date: 2025-04-16
Time UTC: 00:00
Domain: www.investmentnews.com

Summary: Wealth management job cuts at Edward Jones and Morgan Stanley are linked to a sinking stock market, tariff battles and the unknown, say industry executives."

Title: 2024 income and assets up as layoffs loom at Edward Jones - Bizwomen
Link: https://www.bizjournals.com/charlotte/bizwomen/news/latest-news/2025/03/2024-income-and-assets-up-as-layoffs-loom-at-jones.html
Source: The Business Journals
Date: 2025-03-19
Time UTC: 00:00
Domain: www.bizjournals.com

Summary: The parent company of Edward Jones reported income before allocation to partners of $1.9 billion last year, a 23% increase over 2023. The result..."

Title: Why Edward Jones Is Shrinking Its Home Office
Link: https://www.thinkadvisor.com/2025/03/13/why-edward-jones-is-shrinking-its-home-office/
Source: ThinkAdvisor
Date: 2025-03-13
Time UTC: 00:00
Domain: www.thinkadvisor.com

Summary: While there's no headcount reduction target, reduced “overlap and bureaucracy” is expected, Managing Partner Penny Pennington tells..."

Title: Edward Jones Layoffs in Canada: August 2025 Update + Severance Rights
Link: https://stlawyers.ca/blog-news/edward-jones-severance-packages/
Source: Samfiru Tumarkin LLP
Date: 2025-08-20
Time UTC: 21:53
Domain: stlawyers.ca

Summary: Severance Pay After an Edward Jones Layoff. If you're a non-unionized employee and Edward Jones ends your job — whether they call it a layoff,..."

Title: Edward Jones chief's compensation hits $29M as income increases, layoffs loom
Link: https://www.bizjournals.com/stlouis/news/2025/03/18/2024-income-and-assets-up-as-layoffs-loom-at-jones.html
Source: The Business Journals
Date: 2025-03-18
Time UTC: 00:00
Domain: www.bizjournals.com

Summary: Edward Jones chief's compensation hits $29M as income increases, layoffs loom ... The parent company of Edward Jones reported income before..."

Title: Letter: Planned layoffs at Edward Jones betray its own company culture
Link: https://www.stltoday.com/opinion/letters/article_5de9fe5a-2115-4159-aea8-8f3597bb83d8.html
Source: STLtoday.com
Date: 2025-04-09
Time UTC: 00:00
Domain: www.stltoday.com

Summary: Letter: Planned layoffs at Edward Jones betray its own company culture ... Financial giant Edward Jones announced that it will lay off potentially..."

Title: More layoffs to come at Cetera?
Link: https://www.investmentnews.com/ria-news/more-layoffs-to-come-at-cetera/260247
Source: InvestmentNews
Date: 2025-04-23
Time UTC: 00:00
Domain: www.investmentnews.com

Summary: After cutting an unknown number of employees earlier this year, Cetera Financial Group, the broker-dealer and registered investment advisor..."

Title: 2024 income and assets up as layoffs loom at Edward Jones - Bizwomen
Link: https://www.bizjournals.com/pacific/bizwomen/news/latest-news/2025/03/2024-income-and-assets-up-as-layoffs-loom-at-jones.html?page=all
Source: The Business Journals
Date: 2025-03-19
Time UTC: 00:00
Domain: www.bizjournals.com

Summary: The parent company of Edward Jones reported income before allocation to partners of $1.9 billion last year, a 23% increase over 2023."

Title: Layoffs coming to Edward Jones in St. Louis
Link: https://www.stltoday.com/news/local/business/article_9edd5e4a-ff7b-11ef-a1c3-4f43fbdc4ddd.html
Source: STLtoday.com
Date: 2025-03-13
Time UTC: 00:00
Domain: www.stltoday.com

Summary: Behind the layoffs: Edward Jones looking to invest in new tech, analysts say. Edward Jones is looking to catch up with its competitors by..."

Title: Edward Jones confirms layoffs will hit St. Louis-area home office
Link: https://www.bizjournals.com/stlouis/news/2025/03/13/edward-jones-says-layoffs-will-hit-st-louis-area.html
Source: The Business Journals
Date: 2025-03-13
Time UTC: 00:00
Domain: www.bizjournals.com

Summary: Edward Jones confirms layoffs will hit St. Louis-area home office ... Edward Jones will lay off some administrators of its home office team in the..."

Title: Penny Pennington leads Edward Jones at time of rapid change - Bizwomen
Link: https://www.bizjournals.com/portland/bizwomen/news/latest-news/2025/04/penny-pennington-leads-edward-jones-change.html
Source: The Business Journals
Date: 2025-04-16
Time UTC: 00:00
Domain: www.bizjournals.com

Summary: Edward Jones is “evolving at a very rapid pace” to meet the needs of its clients as demand increases for a one-stop shop for financial services and planning."

Title: Behind the layoffs: Edward Jones looking to invest in new tech, analysts say
Link: https://www.stltoday.com/news/local/business/article_edc0d724-004a-11f0-a8cb-f3ebb5f87f82.html
Source: STLtoday.com
Date: 2025-03-16
Time UTC: 00:00
Domain: www.stltoday.com

Summary: Layoffs coming to Edward Jones in St. Louis. Company spokesperson Catherine Stengel said these cuts will \"strengthen our collaborative, client-..."

Title: Edward Jones will cut 'home office structure' in multi-year move
Link: https://www.bizjournals.com/stlouis/news/2025/03/12/edward-jones-will-change-home-office-structure.html
Source: The Business Journals
Date: 2025-03-12
Time UTC: 00:00
Domain: www.bizjournals.com

Summary: Edward Jones said Wednesday that it plans to reduce the size of its home office, but didn't provide details on whether that would trigger layoffs."

Title: Edward Jones shuffles leadership, expands into alternative investments
Link: https://www.bizjournals.com/stlouis/news/2025/05/02/edward-jones-shuffles-leadership-alternative.html
Source: The Business Journals
Date: 2025-05-02
Time UTC: 00:00
Domain: www.bizjournals.com

Summary: Des Peres-based Edward Jones has shuffled its leadership team, citing its “multi-year journey to serve clients and branch teams more..."

Title: IRS layoffs in Kansas City leave workers scrambling for financial security
Link: https://www.kmbc.com/article/irs-layoffs-kansas-city-workers-scrambling-financial-security/63922376
Source: KMBC
Date: 2025-02-25
Time UTC: 00:00
Domain: www.kmbc.com

Summary: The IRS layoffs of more than 100 workers in the metro area were part of President Donald Trump's recent executive order to trim the federal..."

Title: Edward Jones aims to quadruple SMA offerings
Link: https://citywire.com/pro-buyer/news/edward-jones-aims-to-quadruple-sma-offerings/a2451409
Source: Citywire
Date: 2024-10-03
Time UTC: 00:00
Domain: citywire.com

Summary: Edward Jones is hoping to expand its SMA lineup from 70 to 300 by the end of 2025 as it aims to give its advisors more discretion over which funds they can..."

Title: Edward Jones Makes Leadership Changes in Financial Planning Push
Link: https://www.wealthmanagement.com/ibd-news/edward-jones-shuffles-leadership-amid-push-toward-financial-planning
Source: WealthManagement.com
Date: 2025-04-25
Time UTC: 00:00
Domain: www.wealthmanagement.com

Summary: David Chubak to become wealth and field management head as Edward Jones continues to bolster its financial planning capabilities."

Title: Penny Pennington of investment advice firm Edward Jones: ‘We’re a wealth and wellbeing company’
Link: https://fortune.com/2025/07/18/penny-pennington-edward-jones-health-and-wellbeing/
Source: Fortune
Date: 2025-07-26
Time UTC: 21:53
Domain: fortune.com

Summary: Edward Jones Managing Partner Penny Pennington recently at the Aspen Ideas Festival. Her concern was, “how do we help future generations build wealth in this..."

Title: Asset managers paid Edward Jones $315m in revenue-sharing fees in 2024
Link: https://citywire.com/pro-buyer/news/asset-managers-paid-edward-jones-315m-in-revenue-sharing-fees-in-2024/a2460665
Source: Citywire
Date: 2025-02-27
Time UTC: 00:00
Domain: citywire.com

Summary: American Funds was once again Edward Jones' biggest payer in revenue-sharing fees, according to an updated disclosure from the..."

Title: Edward Jones Hit With Reverse Discrimination Suit Over DEI Policies
Link: https://www.advisorhub.com/edward-jones-hit-with-reverse-discrimination-suit-over-dei-policies/
Source: AdvisorHub
Date: 2025-03-11
Time UTC: 00:00
Domain: www.advisorhub.com

Summary: An ex-Edward Jones broker filed Monday a proposed discrimination class action against his former employer claiming it engages in “explicit, intentional,..."

Title: Edward Jones Hikes CEO Pennington’s Pay Almost 16% to $29 Million
Link: https://www.advisorhub.com/edward-jones-hikes-ceo-penningtons-pay-almost-16-to-29-million/
Source: AdvisorHub
Date: 2025-03-17
Time UTC: 00:00
Domain: www.advisorhub.com

Summary: Edward Jones & Co. Chief Executive Penny Pennington's pay climbed by more than 15% for the second year in a row in 2024."

Title: America's fallen tech giant Intel is facing a crossroads
Link: https://www.businessinsider.com/intel-qualcomm-takeover-bid-layoffs-foundry-spin-off-2024-9
Source: Business Insider
Date: 2024-09-20
Time UTC: 00:00
Domain: www.businessinsider.com

Summary: Qualcomm approached Intel about a takeover deal, the WSJ reported. Meanwhile, Intel is planning a separate foundry subsidiary and staff..."

Title: Chevron staffers absorb long-awaited layoffs as CEO pledges accountability
Link: https://www.reuters.com/business/energy/chevron-staffers-absorb-long-awaited-layoffs-ceo-pledges-accountability-2025-02-18/
Source: Reuters
Date: 2025-02-19
Time UTC: 00:00
Domain: www.reuters.com

Summary: During an internal town hall meeting last week, roughly 40000 Chevron employees were shown a video touting the oil giant's success in..."

Title: Edward Jones reshuffles leadership, expands into alternative investments for high-net-worth clients
Link: https://www.mixvale.com.br/2025/05/05/edward-jones-reshuffles-leadership-expands-into-alternative-investments-for-high-net-worth-clients/
Source: Mix Vale
Date: 2025-05-05
Time UTC: 00:00
Domain: www.mixvale.com.br

Summary: Edward Jones, one of the largest investment brokerages in the United States, is undergoing a strategic overhaul that signals a pivotal..."

Title: Boeing supplier starts St. Louis layoffs, but union leader doubts facility will close next year
Link: https://www.bizjournals.com/stlouis/news/2023/08/25/boeing-parts-supplier-lays-off-workers-plant-2024.html
Source: The Business Journals
Date: 2023-08-25
Time UTC: 00:00
Domain: www.bizjournals.com

Summary: GKN Aerospace St. Louis, which plans to shut down its Hazelwood plant in late 2024, on Friday laid off at least 35 employees who make fighter jet parts for The..."

Title: Edward Jones Set to Streamline Operations with Major Home Office Layoffs
Link: https://opentools.ai/news/edward-jones-set-to-streamline-operations-with-major-home-office-layoffs
Source: OpenTools
Date: 2025-08-19
Time UTC: 21:53
Domain: opentools.ai
Summary: Edward Jones, a financial services giant, has announced plans to lay off employees at its home office in St. Louis County."

Day 2 of the Reimagining. Share any stories or updates regarding your day.

Shocked and saddened to hear of demotions and pay reductions while ELT continues to rake in record profits for "Needs Improvement" results. Shame.

ISPs, Demotions still happening today?

Hello, I'm a reporter for the St. Louis Post-Dispatch covering the layoffs. I can be reached at jsuntrup@post-dispatch.com and can also speak over the phone at 314 825 0735. Thanks,
Jack Suntrup

"Ford’s dividends might sound like a matter only of concern for the company’s shareholders, but U.S. taxpayers should care. Over the years, Ford has mooched some $8 billion from federal and state public troughs. And just before leaving office, former Energy Secretary Jennifer Granholm in late December finalized a controversial $9.63 billion below-market loan to cover most of Ford’s $11.4 billion EV projects in Tennessee and Kentucky.

Ford uses what it calls “adjusted free cash flow” to justify these rich payouts. Weil prefers to call it “cash flow before bad stuff.” The technical Wall Street term for Ford’s financial window dressing: putting lipstick on a pig.

And what have taxpayers gotten so far? Broken promises. Ford’s Super Duty EV plant in Tennessee, once scheduled to open this year, is now pushed back to 2028. Its Tennessee battery plant, originally planned for 2025, won’t open until 2027. One of two promised Kentucky battery plants has been delayed indefinitely.

The only major firm commitment Ford has delivered on is its dividend.

At the very top sits William Clay Ford Jr. He controls nearly 19 million Class B shares, which at 2024’s dividend rate would have delivered around $11 million in cash — on top of the $20 million he collected as executive chairman, a role I’d guess mostly entails overseeing CEO Jim Farley and managing board proceedings. Farley himself hauled in $25 million last year and has pocketed more than $107 million since taking Ford’s corporate wheel five years ago.

Much of Farley’s compensation was stock, so if Ford’s shares decline, so does his personal fortune.

For Bill Ford’s distant cousins, there’s less, but still plenty: hundreds of thousands of dollars a year simply for being born into the family. That’s why the dividend is existential. It sustains Palm Beach lifestyles as much as it secures control of Dearborn. If the spigot slows, it could shake both fortunes and the family’s loyalty to the company.

Weil exposed just how far Ford is stretching. The company used the free cash flow – money left over after paying operating expenses – it generated in 2024 to justify its 2025 first-quarter dividend — the equivalent of using last year’s paycheck to prove you can pay this year’s mortgage after your boss cut your salary. Ford expects to generate less free cash flow this year, a shortfall it partly blamed on Trump’s tariffs."

https://www.deadlinedetroit.com/articles/33555/starkman_today_s_ford_family_is_milking_the_company_not_saving_it

https://www.trains.com/pro/freight/intermodal/bnsf-and-csx-announce-new-joint-domestic-and-international-intermodal-service/

Proposed Changes To H-1B Visa Lottery System

The Trump administration plans to end or change the H-1B visa lottery, replacing random selection with a salary-based or weighted system. The Office of Management and Budget is reviewing the rule, which could take effect by March 2026 for the FY 2027 cap.

https://www.forbes.com/sites/stuartanderson/2025/07/21/new-trump-immigration-policy-ending-the-h-1b-visa-lottery/

A similar rule finalized in 2021 ranked applications by wage levels but was never implemented. That system would have excluded most Level 1 and many Level 2 workers, categories that include recent graduates and early-career professionals. The new rule’s title, “Weighted Selection Process,” suggests a lottery with higher chances for higher-paid applicants.

Critics argue this approach disadvantages international students and undervalues talent in lower-paid fields. More than 70% of U.S. graduate students in computer science and electrical engineering are international, and most are paid at Level 1 or Level 2. Employers in science, medicine and education could also be affected.

Opponents say the change conflicts with the Immigration and Nationality Act, which requires petitions to be considered in filing order. Business groups and universities warn the rule could weaken U.S. competitiveness by limiting young skilled workers. The broader issue remains the low annual H-1B cap, which covers only a small fraction of the labor force and leaves high demand unmet.

Numbers Rollup:

• 85,000 total H-1B cap (65,000 regular plus 20,000 advanced degree)
• 343,981 eligible registrations for FY 2026
• Nearly two-thirds of registrations rejected due to cap limits
• More than 70% of graduate students in computer science and electrical engineering are international
• 83% of computer science PhDs and 80% of electrical engineering PhDs in U.S. R&D are foreign-born
• Level 1 and Level 2 wages cover about 90% of recent international graduates

https://the-express.com/lifestyle/shopping/181195/target-fires-hundreds-employees-money-181195

As an activist hedge fund, Elliott Investment Management pushes for changes that often result in significant layoffs at the companies it invests in. While Elliott does not directly manage the day-to-day operations, its influence on corporate boards and demands for cost-cutting and restructuring have been closely linked to job cuts.
Examples of layoffs connected to Elliott Management
Southwest Airlines (2025): After Elliott acquired a major stake and secured board seats, the airline announced its first-ever company-wide layoffs. Critics believe this action was influenced by Elliott's push for profitability.
Salesforce (2023): Following Elliott's investment, Salesforce cut 10% of its workforce. Employees reportedly feared further layoffs due to Elliott's pressure for cost reductions and improved profitability.
AT&T (2019): After Elliott took a stake and demanded a strategic overhaul, AT&T cut tens of thousands of jobs and accelerated mass firings. This is viewed by critics as an example of Elliott's strategy prioritizing shareholder returns over employees.
Athenahealth (2018): After an Elliott subsidiary led a buyout, the company laid off employees, sold assets, and went private.
Juniper Networks (2015): Elliott's push for cost reductions at Juniper Networks reportedly led to job cuts at the tech company.
Why Elliott Management is linked to layoffs
Activist investor strategy: Elliott is known for "activist investing," where it buys a large stake in a company and then pushes for major changes to increase its stock value.
Focus on cost-cutting: Their playbook often involves demanding aggressive cost reductions, including slashing perceived "non-essential" departments to boost profits.
Control through board seats: The hedge fund often seeks control by gaining seats on a company's board, giving it direct influence over restructuring and personnel decisions.
Pressure for asset sales: Elliott sometimes advocates for selling off company assets to create cash for investors, which can destabilize operations and result in layoffs.

Arena BioWorks has laid off 30% of its workers 19 months after launching with $500 million and visions of bringing the Bell Labs model to biotech.

https://www.fiercebiotech.com/biotech/arena-bioworks-19-months-after-splashy-launch-lays-30-its-staff

It’s done baby. Remember TSMC is just a foundry, All design is USA baby!!!!

It appears numerous higher up’s have left. Will stores be impacted next?

So why doesn't Lexmark post anything on Layoff
Maybe it's all good

https://www.visualcapitalist.com/unemployment-rate-by-state-2025/

How much of this is Ford's fault?

There are a couple of new stories out of California today.

1. Phillips has settled a wage theft case for ~$12 million. This involves requiring employees to dress out early without being paid, deducting pay for lunches even when the lunches were interrupted or not even started at.
2. The LA Refinery is “sitting on a lake of oil” from leaks over the years. So who is going to buy this land for redevelopment knowing this? It looks like P66 could have been money ahead by spending the money to make it competitive and continuing to operate it. Now they’re going to be paying for many years to clean it up.

Ford has significantly improved product quality. Our 2025 initial quality is on track to become among our best ever, and Ford was the most awarded brand in the recent J.D. Power 2025 U.S. Initial Quality Study, with four Ford vehicles topping their segments.
The increase in recalls reflects our intensive strategy to quickly find and fix hardware and software issues and go the extra mile to help protect customers. Ford has more than doubled its team of safety and technical experts in the past two years and significantly increased testing to failure on critical systems in current Ford vehicles such as powertrains, steering and braking. Insights from this testing are being incorporated into current production.

We are making progress on software quality, using an enhanced software validation process to help ensure the right software is present on vehicles and using over-the-air updates to address potential warranty issues before they become customer issues.
Modern digital safety systems require new talent, tools, and standards. Ford has deeply invested in those capabilities like connected data signaling and dramatically increased testing on all new products across broad variations in customer use.

In applying these new standards, we can and do find issues that exist on earlier model years, including ones that have not even been reported. We will not compromise our responsibility to all our customers, not just those buying new vehicles.

We believe this approach will lead to systemic and lasting positive change and help us reach world-class levels for quality, safety and customer satisfaction.

Read more here:

https://www.fromtheroad.ford.com/us/en/articles/2025/ford-quality-update

Placed on admin leave with no timeframe because "your position is under evaluation" due to "restructuring/reorg and looking to reduce costs"? Anyone familiar with this? Thanks!

https://deadline.com/2025/08/paramount-job-cuts-2-1236495593/

Great. https://nypost.com/2025/08/22/media/paramount-eyes-massive-round-of-job-cuts-in-early-november/

Elon Musk and his company X Corp have reportedly come to a preliminary agreement to resolve a lawsuit initiated by former Twitter employees who claimed they were entitled to $500m in severance payments.

https://finance.yahoo.com/news/elon-musk-x-corp-resolve-105952635.html

The job cuts included the elimination of the merchandising coordinator position, as Saks Global continues to blend the merchandising systems of Saks Fifth Avenue and Neiman Marcus into an integrated system, WWD reports.

https://news.centurionjewelry.com/articles/detail/saks-cuts-90-jobs-in-another-round-of-layoffs

After pushing 26,000 employees out, the tax agency is scrambling to find enough personnel to carry out its duties.

https://www.govexec.com/workforce/2025/08/irs-canceling-its-layoff-plans-will-ask-some-it-fired-or-pushed-out-return/407620/

• International Paper will close two Georgia mills, impacting 1,100 jobs.
• The company will invest $250 million to convert an Alabama mill to produce containerboard.
• International Paper is selling its Global Cellulose Fibers business for $1.5 billion.

https://www.commercialappeal.com/story/money/business/2025/08/21/international-paper-mill-closures-employee-layoffs/85760791007/

John Deere is facing a crossroads as the company continues to see weaker demand in the agricultural sector even while it has committed to investing millions in U.S. manufacturing and promised a brighter road ahead.

https://www.cnbc.com/2025/08/22/john-deere-demand-layoffs.html

Lifetime is cutting back its unscripted programming division, a decision that resulted in layoffs on Wednesday.

https://www.hollywoodreporter.com/business/business-news/lifetime-layoffs-unscripted-programming-1236349527/

N&S Locating Services LLC says it will lay off most of the employees who report to its Franklin County office after its biggest customer in the state, internet service provider Brightspeed, pulled all of its work from N&S.

https://www.wral.com/story/utility-services-provider-eliminating-126-jobs-in-north-carolina-after-losing-contract/22125315/

SW's bad leadership seems to have been realized and she is leaving. Please take lady unlucky with her out the door

Arena BioWorks has laid off 30% of its workers 19 months after launching with $500 million and visions of bringing the Bell Labs model to biotech.

Changes at Arena BioWorks follow events that have shaken confidence in gene therapies.

https://www.fiercebiotech.com/biotech/arena-bioworks-19-months-after-splashy-launch-lays-30-its-staff