#news

Kodak Dumps Pension Plan to Pay Off Massive $500 Million Debt.
https://tonernews.com/forums/topic/kodak-dumps-pension-plan-to-pay-off-500-million-massive-debt/

https://www.bloomberg.com/news/articles/2025-08-19/ford-seeks-to-sell-excess-battery-supply-in-weakened-ev-market

https://theconversation.com/state-department-layoffs-could-hurt-us-companies-ability-to-compete-globally-an-economist-explains-why-262988

There will be a significant workforce reduction at the Bridgestone Off-the-Road Tire Plant in Normal. Neither the company nor the United Steelworkers union representing workers could provide a precise number of jobs targeted.

https://www.wglt.org/local-news/2025-08-21/job-cuts-ahead-at-bridgestone-tire-plant-in-normal

The Union of IT & ITES Employees (UNITE) protested against TCS, alleging potential job cuts affecting 30,000 employees, a claim TCS denies, stating the reduction is around 2% of its global workforce. Supported by CITU, UNITE demands government intervention and warns of a larger layoff scale, while TCS emphasizes restructuring for future readiness with severance packages.

https://economictimes.indiatimes.com/news/india/tcs-layoffs-protest-it-employees-union-claims-30000-job-cuts-plans-global-action-company-issues-statement/articleshow/123403929.cms

At least 600 employees of the Centers for Disease Control and Prevention are receiving permanent termination notices in the wake of a recent court decision that protected some CDC employees from layoffs but not others.

The notices went out this week and many people have not yet received them, according to the American Federation of Government Employees, which represents more than 2,000 dues-paying members at CDC.

https://www.nbcnews.com/politics/trump-administration/least-600-cdc-employees-are-getting-final-termination-notices-union-sa-rcna226252

They are planning a mass layoff 8/22/2025

Source below. The Economist, Aug 21st 2025 - 5 min read

Donald Trump’s fantasy of home-grown chipmaking

• To remain the world’s foremost technological power, America needs its friends

How low mighty Intel has fallen. Half a century ago the American chipmaker was a byword for the cutting edge; it went on to dominate the market for personal-computer chips and in 2000 briefly became the world’s second-most-valuable company. Yet these days Intel, with a market capitalisation of $100bn, is not even the 15th-most-valuable chip firm, and supplies practically none of the advanced chips used for artificial intelligence (AI). Once an icon of America’s technological and commercial prowess, it has lately been a target for subsidies and protection. As we published this, President Donald Trump was even mulling quasi-nationalisation.

More than ever, semiconductors hold the key to the 21st century. They are increasingly critical for defence; in the ai race between America and China, they could spell the difference between victory and defeat. Even free-traders acknowledge their strategic importance, and worry about the world’s reliance for cutting-edge chips on tsmc and its home of Taiwan, which faces the threat of Chinese invasion. Yet chips also pose a fiendish test for proponents of industrial policy. Their manufacture is a marvel of specialisation, complexity and globalisation. Under those conditions, intervening in markets is prone to fail—as Intel so vividly illustrates.

To see how much can go wrong, consider its woes. Hubris caused the firm to miss both the smartphone and the ai waves, losing out to firms such as Arm, Nvidia and tsmc. Joe Biden’s CHIPS Act, which aimed to spur domestic chipmaking, promised Intel $8bn in grants and up to $12bn in loans. But the company is floundering. A fab in Ohio meant to open this year is now expected to begin operations in the early 2030s. Intel is heavily indebted and generates barely enough cash to keep itself afloat.

A factory worker in a red baseball cap holding up a shining silicon wafer
Illustration: Deena So'Oteh
The sums needed to rescue it keep growing. By one estimate Intel will need to invest more than $50bn in the next few years if it is to succeed at making leading-edge chips. Even if the government were to sink that much into the firm, it would have no guarantee of success. The company is said to be struggling with its latest manufacturing process. Its sales are falling and its plight risks becoming even more desperate.

The Biden administration failed with Intel, but Mr Trump could make things worse. He has threatened tariffs on chip imports, and may try to browbeat firms such as Nvidia into using Intel to make semiconductors for them. These measures might buy Intel time but they would be self-defeating for America. Chipmaking is not an end in itself but a critical input America’s tech sector requires to be world-beating. Forcing firms to settle for anything less than the best would blunt their edge.

What should America do? One lesson is not to pin the nation’s hopes on keeping Intel intact. It could sell its fab business to a deep-pocketed investor, such as SoftBank, which has reportedly expressed interest in buying it and this week announced a $2bn investment in Intel. Or it could sell its design arm and pour the proceeds into manufacturing. Intel may fail to catch up with TSMC even then. Either way, the federal government should not throw good money after bad. Taking a stake in Intel would only complicate matters.

That leads to a second lesson: to look beyond Intel and solve other chipmakers’ problems. tsmc is seeking to spread its wings. It is running out of land for giant fabs in Taiwan and its workforce is ageing. It has already pledged to invest $165bn to bring chipmaking to America. A first fab is producing four-nanometre (nm) chips and a second is scheduled to begin making more advanced chips by 2028. Samsung, a South Korean chipmaker that is having more success than Intel, is setting up a fab in Texas. But progress has been slow: Samsung and TSMC have both struggled with a lack of skilled workers and delays in receiving permits.

The last lesson is that, even if domestic chipmaking does make America more resilient, the country cannot shut itself off from the rest of the world. One reason is that the supply chain is highly specialised, with key inputs coming from across the globe, including extreme-ultraviolet lithography machines from the Netherlands and chipmaking tools from Japan. The other is that Taiwan and its security will remain critical. Even by the end of this decade, when tsmc’s third fab in America is due to begin producing 2nm chips, two-thirds of such semiconductors are likely to be made on the island. TSMC’s model is based on innovating at home first, before spreading its advances around the world.

To keep America’s chip supply chains resilient, Mr Trump needs a coherent, thought-through strategy—a tall order for a man who governs by impulse. No wonder he is going in the wrong direction. On Taiwan he has been cavalier, confident that China will not invade on his watch, while failing to offer the island consistent support. His tariffs on all manner of inputs will raise the costs of manufacturing in America; promised duties on chip imports will hurt American customers. He thrives on uncertainty, but chipmakers require stability.

A sensible chip policy would make it attractive to build fabs in America by easing rules over permits and creating programmes to train engineers. Instead of using tariffs as leverage, the government should welcome the imports of machinery and people that support chipmaking. Given the bipartisan consensus on the importance of semiconductors, the administration should seek a policy that has Democratic support—with the promise of continuity from one president to the next.

Economic nationalists should also see the progress of chipmakers in allied countries as a contribution to America’s security. Samsung is aiming to start producing 2nm chips in South Korea later this year. Rapidus, a well-funded chipmaking startup in Japan, is making impressive progress. Both countries have a tradition of manufacturing excellence, and may have a better shot at emulating Taiwan.

The chipmaking industry took decades to evolve. It is built for an age of globalisation. When economic nationalists build their policies on autarky, they are setting themselves a needlessly hard task—if not an impossible one.

https://www.economist.com/leaders/2025/08/21/donald-trumps-fantasy-of-home-grown-chipmaking

https://www.msn.com/en-us/money/markets/international-business-machines-corporation-ibm-is-down-too-much-says-jim-cramer/ar-AA1KT9s5

https://www.linkedin.com/pulse/atts-leadership-crisis-arrogance-financial-collapse-legacy-gnall-9qfoc/

The company is tightening up its workforce across multiple divisions and restructured several parts of its business, resulting in the loss of 30 jobs. The cuts have been made with “the goal of investing in capabilities that will propel our business into the future,” according to a Hallmark spokesperson.

https://www.thewrap.com/hallmark-layoffs-company-restructuring/

Cosmetics company has approved layoffs of 3,200 staff based on a previously disclosed restructuring plan and may reduce head count by another 3,800, with expected restructuring charges of up to $1.6 billion.

https://www.marketwatch.com/story/estee-lauder-to-cut-up-to-7-000-jobs-as-china-and-duty-free-sales-stay-weak-82092ee3

Stock is up almost 6% after hours.

https://finance.yahoo.com/news/softbank-group-intel-corporation-sign-231000755.html

thats it thats the news

KODAK: Calm Down, We’re NOT Going Out of Business!
https://tonernews.com/forums/topic/kodak-calm-down-were-not-going-out-of-business/

Another Ultra-Processed Food Warning..

https://www.foxnews.com/food-drink/cutting-one-food-type-could-nearly-double-weight-loss-study-suggests

https://www.sfgate.com/tech/article/oracle-tech-giant-layoffs-headquarters-20819830.php

The tech company announced the cuts on Wednesday in WARN documents, as is generally required in the event of mass layoffs. One lists 45 layoffs at the company’s Pleaston campus; the other lists 143 at its former headquarters in Redwood City.

Software developers — at various levels of seniority — are being hit hard, according to the WARN notices. Within the category, six vice presidents are losing their jobs in Redwood City, plus 25 director- and manager-level employees and more than 60 lower-level developers.

The documents say that workers were notified on or before Wednesday and will officially leave the roles in mid-October. The WARN Act requires employers to give workers 60 days notice before a layoff, but tech companies tend to just end their laid-off workers’ jobs immediately and give them 60 days of pay.

Oracle did not immediately respond to SFGATE’s questions about the reason for the cuts and what severance pay these workers might receive. But Bloomberg reported Wednesday that the company was cutting staff from its massive cloud computing unit, including more than 150 workers in Seattle, so it’s likely that the Bay Area cuts were also from that group.

The company is based in Austin but, according to a 2024 statement from co-founder Larry Ellison, it will be moving its headquarters again, to Nashville. Official filings still say Austin.

Facilities involved include:

• Harvester Works in East Moline, Ill.: 115 (last day of work Aug. 29)
• Seeding and Cylinder in Moline, Ill.: 52 (last day of work Sept. 26)
• Foundry in Waterloo, Iowa: 71 (last day of work Sept. 19)

https://www.agweb.com/news/breaking-john-deere-confirms-238-layoffs-across-3-plants

https://cleantechnica.com/2025/08/13/global-ev-sales-up-27-in-2025-despite-anti-electrification-policies-in-the-us/

https://www.youtube.com/watch?v=gH2UHobXt1E

Looks like S Giuliano is no longer gainfully employed by the emperor. Mr G was always fair and after working alongside him side for years - I can say truly, he was one of the best managers and leaders. Sad day.

https://finance.yahoo.com/news/conoco-reportedly-eyes-occidental-petroleum-takeover-163448560.html

https://www.tipranks.com/news/dell-technologies-stock-dell-gets-multiple-upgrades-ahead-of-earnings

DELL rulez again after quarter century break!!

The cuts span 44 sites in central and southwest Minnesota.

https://www.startribune.com/st-cloud-based-centracare-laying-off-535-employees-amid-rising-health-care-costs/601454029

These numbers have to be fudged.

https://www.wsj.com/business/earnings/kyndryl-posts-higher-profit-as-businesses-keep-spending-on-tech-becda043

Company reaffirmed its full-year outlook and said its latest results keep it on track to meet long-term targets

By: Connor Hart
Aug. 4, 2025 4:35 pm ET

Businesses are continuing to invest in technologies that boost productivity and shore up operations, according to Kyndryl Chief Executive Martin Schroeter.

“Customers are completely willing to engage in discussions to help them take advantage of opportunities like AI, or prepare for challenges such as cybersecurity and new regulatory environments,” he said Monday.

Demand for the company’s consulting services, as well as its cloud and AI partnerships, has remained strong, Schroeter added. That strength helped Kyndryl deliver sharply higher profit in its latest quarter, as companies continued spending on technology despite economic uncertainty.

Consulting revenue rose 30% in the quarter, while signings over the past 12 months climbed 36%. The company’s pipeline is stronger than a year ago, and Schroeter said he expects consulting to keep expanding as clients prepare for new regulatory environments and integrate AI more deeply into operations.

Artificial intelligence is also at the center of Kyndryl’s long-term growth strategy.

Companies are increasingly turning to the firm to ready their infrastructure and workforces for AI, from strengthening security to improving day-to-day operations. Kyndryl is investing heavily to support those efforts, Schroeter said, pointing to partnerships with major players such as Nvidia, Dell and Hewlett Packard Enterprise as part of its bid to stay at the forefront of AI adoption.

Revenue tied to work with cloud hyperscalers, such as Microsoft and Alphabet’s Google was about $400 million in the recent quarter, an 86% year-over-year increase that the company said puts it on track for its target of $1.8 billion this year.

Kyndryl, spun off from International Business Machines in 2021, provides information-technology infrastructure services. The New York company designs, builds and manages information systems for thousands of clients in more than 60 countries.

The company posted a profit of $56 million, or 23 cents a share, for its fiscal first quarter, which ended June 30, compared with $11 million, or 5 cents a share, a year earlier. Adjusted earnings were 37 cents a share, just ahead of the 36 cents analysts polled by FactSet had expected.

Revenue was roughly flat at $3.74 billion, below Wall Street’s $3.8 billion estimate.

Kyndryl reaffirmed its fiscal 2026 outlook, guiding for adjusted pretax income of at least $725 million and free cash flow of about $550 million. Schroeter said the latest quarter’s results keep the company on track to meet its long-term fiscal 2028 targets, which call for tripling cash flow and doubling profit.

Any news or rumors on RTO?

20 hours ago — MADISON (WKOW) -- UW-Madison workers are reacting to massive layoffs that have rocked UW-Oshkosh campus in the past week.

UW-Oshkosh laid off 140 staff, 76 more chose to take voluntary retirement, and others on contract found that the university would not renew their employment agreements. In total, the losses account for over 20 percent of UW-Oshkosh's workforce.

https://www.wkow.com/townnews/university/political-attacks-uw-madison-employees-react-to-massive-uw-oshkosh-layoffs/article_63d6f34c-70e8-11ee-bf4f-2bcb8265e0a3.html

#news

Layoffs to the US workforce will continue until the December freeze goes into effect. Until then, More cuts will hit mortgage, CB, Auto, branches, corp risk, technology, and others in remote rolls and non-hub locations. They will also be hitting hub locations for individuals that are not compliant on the RTO policIES. The justification is to offshore for the cheap labor! This is the only way that C S knows how to cut costs. Pretty pathetic.

Now for the my rant of truth: if it’s TLDR, then don’t bother, I am only speaking the truth.

The current CEO is failing miserably. Meanwhile the Board of Directors continues to drive a false narrative that he is making progress and being a successful CEO while at the same time The company experiences, faulty systems, Multi billion dollar fines, and serious impacts to our customers due to all of these glitches that pop up on a monthly basis. it just goes to show how much the CEO actually understands repetitional risk.

The truth is the bank continues to be a habitual offender and meeting its regulatory obligations. CEO continues to cost the bank billions of dollars in fines and additional regulatory action. he is an overpaid CEO that cannot show any milestones or successes, or even how far along he is in whatever strategy he pitched to the board upon hiring him.

The Sharty CEO cannot maintain the stock price. in fact, it consistently is getting lower than when the bank came under extreme scrutiny and was outed for the false account scandal. Can someone tell me why this CEO continues to receive multi million dollar raises, unlimited access to the company jet for personal vacations, And insulate himself with his most recent hires of all his deadweight cronies.

The only way to turn this bank around is to find a CEO that actually understands both banking and technology. If Wells Fargo CEO was truly looking for this to be the year of efficiencies, he invest in the current employees, along with allowing everyone to use an AI assistant, such as Microsoft copilot. You would think that since he’s on the board of Microsoft, he would actually understand this. Unfortunately, he is a dinosaur and defaults to his 1980s playbook of offshore US domestic talent to hire three qualified offshore individuals. Any id--t could come up with this strategy.

If you really wanted to invest in our risk and controls he would be looking at technologies that not only automate these controls, but also allow the bank to be proactive in their risking control environment.

This will never happen under a dinosaur CEO. Let’s look at an example real quick. I’m no fan of musk, but if you look at Tesla and his other companies, there is a reason why he has become the richest man in the world coinciding with profitable companies. I understand his companies have had their ups and downs, but so has Wells Fargo.

The point I am trying to make is, without a younger CEO, Wells Fargo will never make any significant changes better their efficiencies. The CEOs, lack innovation, long-term strategies, and knowledge in what technology can do to assist workers do their jobs and be much more efficient. There is a reason why musk is the richest man in the world in such a short amount of time. I just named a few of those reasons.

It’s time to get rid of the senile dinosaurs and bring in some young, knowledgeable, and motivated employees

The only thing that our dinosaur CEO can say, is that he cut headcount by offshore US jobs and reduced costs by paying cheap labor. This reminds me of the barons back in the day who were building the railroad. They made sure to capitalize on cheap labor, regardless of equality or ethics.

If you look at their earnings, call, you can see that they’re big topic. Was they cut headcount which resulted in reduce expenditures. I’m glad they can pat themselves on the back.

If you look at the CEOs history, he has left every company with a bad taste in its mouth. Just ask the BNY melon folks about how he tried to implement a return to office policy. They gave so much pushback that he could not get it through and moved on.

This guy is deadweight! If the board is too senile to notice this, then they are deadweight too. It’s only a matter of time before this fragile house of cards comes crashing down. This is why the CEO has recently insulated himself with his cronies and has a golden parachute waiting when the time comes. Just take a peek at his offer letter on the SEC website. It is public information and you would probably be shocked. And for those who say that he is compensated based on compensation at similar banks. Well guess what, Wells Fargo is nothing like other banks! Can anyone name a bank that has been restricted to grow due to regulatory orders? The answer is no. Are there any other banks that have Paid as much and fines as Wells Fargo? The answer is no. This makes Wells Fargo nothing like any other of the banks. Don’t even try and compare it. I have still yet to see a milestone, or how far along our CEO is along on this smok and mirror journey.

The baby boomers are greediest generation, and history will judge them for that. They are nothing but ego maniacs, who refuse to step aside, and let young talent turn the bank around.

Offshore US jobs is not the answer. Capitalizing on both banking knowledge and utilizing technology will create efficiencies right out of the gate, and mitigates significant amounts of risk posed by offshore American jobs. These chumps should be ashamed of themselves.

If this was any other employee performing in this was they would have been fired years ago. It sure gonna be funny to watch when instability erupts in the regions are dinosaurs CEO decided to offshore American jobs to.

Biggest proof that our CEO is completely completely out of touch is the fact that he just spent a half billion dollars on space at HY. What kind of mo--n buys commercial real estate right before the bubbles going to burst? This was a terrible investment and could’ve been purchased at half the cost come 2024. he just needs a place for all his recent NYC hires that he has insulated himself with.

All of this is public knowledge and public information. If this is too long to read my bad. At least I’m providing the inconvenient truth. What a terrible CEO Who? is too old to even come up with a long-term strategy, and make sure that he can capitalize on his short term plan a.k.a. when is five years is up. Take a peek at his offer letter and you’ll understand what I mean.

#WFC
#WELLSFARGO
#WELLSFARGO2023
#CEO
#INEQUALITY
#News
#Banking
#Layoffs
#CEOCULT
#Yuppies
#Babyboomers
#Thinktanks
#Jobs
#Finance
#WFC2023
#WellsFargo2023

Some employees find themselves being offered the option to move to other stores but most are part of the number of layoffs that go along with everything.

https://www.pocnetwork.net/technology-news/office-depot-continues-to-close-stores-and-lay-off-workers/

#news #OfficeDepotNews

Marriott Hutchinson Island resort sold, 169 employees to be laid off on April 8. Lina Ruiz... By federal law, companies must give advance notice of mass layoffs.

https://www.tcpalm.com/story/news/2021/02/26/169-jobs-lost-after-sale-marriott-hutchinson-island-beach-resort/6825830002/

#news #MarriottInternationalNews #MarriottNews

Although Disney didn't reveal how many staffers were in the last round of layoffs in November, is was revealed that those impacted included executive, salaried...

https://nypost.com/2021/01/28/disney-cruises-wont-relaunch-in-february-as-announced/

#news #WaltDisneyNews #DisneyNews

81 workers at Bucyrus GE plant facing potential layoffs... companies are required to file WARN letters with the state when they anticipate making a mass layoff.

http://www.galioninquirer.com/news/60950/81-workers-at-bucyrus-ge-plant-facing-potential-layoffs

#news #GeLightingNews #GELightingNews

Remote learning leads to layoffs, potential lawsuit for Willoughby-Eastlake schools.

https://fox8.com/news/coronavirus/remote-learning-leads-to-layoffs-protentional-lawsuit-for-willoughby-eastlake-schools/

#news #WilloughbyEastlakeCitySchoolDistrictNews

Wilkes-Barre mayor: Expect layoffs, cuts in services in 2021

https://www.citizensvoice.com/news/wilkes-barre-mayor-expect-layoffs-cuts-in-services-in-2021/article_92bd0cdd-a2e7-5795-9b73-a847c457bf1a.html

#news #WilkesBarreNews #CityofWilkesBarreNews

https://www.news-herald.com/news/union-intends-to-sue-willoughby-eastlake-schools-over-layoffs-of-non-teacher-employees/article_3307c94e-3973-11eb-b81b-73b9a14f5f74.html

#news

https://www.youarecurrent.com/2020/12/10/plummeting-membership-attendance-leads-to-layoffs-for-carmel-clay-parks-recreation/

#news #CarmelClaySchoolsSchoolDistrictNews #CarmelClaySchoolsNews

Andrew Cuomo warned of thousands of layoffs... And tax hike... And pain...

https://www.pix11.com/news/coronavirus/gov-cuomo-warns-of-thousands-of-layoffs-tax-increases-without-federal-financial-relief

#news #NewYorkNews