#company

How is CC still here?!?!?

I know the title says something big but this is not about Matt Carr, this is about October layoffs. Possibly November. Something big is obviously coming. Who cares about the rumors just look at the executive actions. They have a goal to cut cost up to 5b which they still haven’t met. One last thing next time Dan is up there talking about the Verizon turn around and AI ask him why aren’t any executives doing any open market buys? If the company is having such an amazing turn around why aren’t they buying? Dan needs to put his money where his mouth is and buy some Verizon stock

Ahead of Alphabet, Amazon, Nvidia, and all our competitors: https://fortune.com/ranking/aiq/

Honestly surprised by this

1. Why y'all drive like you need to po-p all the time?

2. No one greets anyone anymore. Y'all lose your social skills (lab buildings specifically)

3. Why is there such an entitlement mentality with specifically 3Mers

Seeing an uptick on employees being promoted.

Was there a program or were ppl chosen?

Didn't here a peep about this until LinkedIn started showing all the people updating their profiles for their promotions.

Anyone would get more focused after massive layoffs.

After several months of “redeployment” into a role that was very different from my previous job, I was told I could no longer return to my original position because it was supposedly no longer available. The whole situation seemed questionable from the start. Today I saw a video from IG influencer Greg Langstaff (just Google it) that raised some points that appear to confirm my concerns. #OWBPA #Ageism

Not good. Only a matte of time until company is broken into two.

We’re gonna make $3 billion this year but you all su-k and we can do better. Also, why are the good people we depend on starting to leave? Don’t worry about BTC, we’re going to have good jobs here. And to conclude, if you’re not bought in maybe you don’t need to be working here.

Get ready for departure :)

Positions getting cancelled mid-recruitment process… why?

I don't think any of us are safe from it. At some point, only the C-suite will be based here.

Citibank eyes expansion in Kyrgyzstan with possible branch

https://www.investing.com/news/stock-market-news/citibank-eyes-expansion-in-kyrgyzstan-with-possible-branch-93CH-4910001

Please dont use this thread to discuss the town hall that may or not be happening right now.

Please, leadership can only be transparent if they trust us not discuss the townhall here.

Do we know by now how many people had their VSPs approved and how many were laid off? Is there any correlation between the two (as in, is the number of people who were laid off higher or lower than was originally intended based on the number of accepted VSPs?)

Anyone know what to expect in the town hall meeting tomorrow. Been here a year and never got invite to attend one.

From the $260 millions of CPM money allocated for 2026 layoffs, only $115 millions used as of September 30th. So October and November will have more layoffs than the entire year.

https://career.cornell.edu/events/2026/09/28/canceled-wells-fargo-corporate-investment-banking-cornell-university-information-session/

me wonder bout connections

Does anyone know anything related to timing, magnitudes, impacted orgs? The uncertainty is
What makes the process so unbearable.

This is reality regardless of what the disenchanted and haters stay.These are just the facts.

Bottom line: Under the leadership team in place since mid-2024, Mutual of America has made measurable progress—dramatically smaller losses, meaningful cost cuts, stable capital, and constructive rating-agency outlooks. It is on a recovery path and management is targeting sustained profitability in 2026. Success is not yet locked in, but the trajectory is positive and the worst of the capital erosion and large losses appears to be behind it.

SEE BELOW FOR DETAILS:

Mutual of America is showing clear signs of recovery, though it is not yet fully restored to consistent profitability.Key evidence of progress (through 2025 / early 2026)Sharply reduced operating losses: Operating losses fell from roughly $223 million in 2023 → ~$150 million in 2024 → $27.6 million in 2025. This is a major improvement driven by aggressive cost actions.

spglobal.com

Cost reductions: In 2025 the company cut operating expenses by about $90 million (roughly 25%) through a smaller real-estate footprint, workforce optimization, and lower third-party spending.

spglobal.com

Positive (though thin) net income: Statutory net income was positive at ~$2.4 million in 2025 (vs. large losses in prior years). Much of the positivity still came from one-time investment/real-estate gains, similar to the 2024 building-sale boost.

streetinsider.com

Balance-sheet and operating metrics: Total assets under administration rose to $27.9 billion. Client retention remained solid (assets ~91%). Management reports “significant progress,” “positive momentum,” and a clear path toward profitability, with a stated goal of reaching it in 2026.

mutualofamerica.com

Rating agency outlooks stabilized: Fitch affirmed BBB+ and revised the outlook to Stable (from Negative) in June 2026.

fitchratings.com

S&P lowered the rating to A- in April 2026 but assigned a Stable outlook, citing the turnaround plan focused on revenue growth and expense reduction.

spglobal.com

AM Best rates it A- (as of April 2026).

mutualofamerica.com

Remaining challenges Core operations are still loss-making (though the losses are now much smaller).
Statutory surplus edged down slightly in 2025 (to ~$549 million from ~$577 million at year-end 2024). The broader “Total Surplus” figure highlighted by the company was $651 million (vs. $715 million the prior year).

mutualofamerica.com

Business remains concentrated in nonprofit/group retirement products, with ongoing execution risk on the turnaround and potential for further regulatory reserve pressure.
Ratings are lower than historical peaks (they were higher a few years ago).

Listen, if you reply-all to a massive DL and don’t even look to see who sent the damn email, I swear to God I hope you’re the very first person walking out the door next time layoffs hit.Right now, we got folks replying-all to a distribution list with over 20,000 people on it.

You are officially the d-mbest MF in the building, just out here wasting everybody’s time. You su-k on levels I didn't even know were possible.Why does this same circus happen at least once a year? How do we keep hiring people this clueless? It is not that hard: look and see who owns the mailbox or the contact group, and message them directly.

I am truly, deeply praying they are keeping a running list of every single one of y’all doing this.Please, stop being a whole fool. This happens literally every year, and y’all still haven’t learned a single thing.

How long before the two are combined? Is it possible given the current ongoing restructuring at tebg?
I see more messages around one 3M these days on official channels.

So PayPal is just a company with zero innovation and vague buyout rumors? It’s been an ongoing joke for almost 5 years now and keeps getting worse.

Yael is coming to the Charlotte office this week. Office tours have actively happened… Office closure?

09/25 here. Move on guys it’s a brave new world. There is no future for legacy companies like Oracle. For those who have not tried Claude or its reasonable facsimiles, just do it. India has been canceled. Retool and hit the bricks.

The Streisand Effect Thrives at ExxonMobil

Attempts to suppress information are often made through cease-and-desist letters, but instead of being suppressed, the information sometimes receives extensive publicity, becoming viral over the Internet or being distributed on file-sharing networks.

Seeking or obtaining an injunction to prohibit something from being published or to remove something that is already published can "backfire" by increasing the publicity of the published work.

The Streisand effect has been described as an example of psychological reactance, wherein once people are aware that some information is being kept from them, they are significantly more motivated to acquire and spread it.

The Streisand effect has been observed in relation to the right to be forgotten, the right in some jurisdictions to have private information about a person removed from internet searches and other directories under some circumstances. A litigant attempting to remove information from search engines risks the litigation itself being reported in the news.

The phenomenon has been described by the Chinese proverb "(when one) attempts to cover (the truth), (it) becomes more conspicuous" (欲蓋彌彰, pinyin: Yù gài mí zhāng).

https://en.wikipedia.org/wiki/Streisand_effect

Will they remove this section when avaya is officially dead?

How many RIF planned for Oct 1

https://www.reuters.com/legal/transactional/wells-fargos-chief-risk-officer-derek-flowers-retire-2026-09-23/

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Wells Fargo's chief risk officer Derek Flowers to retire
By Reuters
September 23, 20261:41 PM PDTUpdated September 23, 2026

Illustration shows Wells Fargo logo
Wells Fargo logo appears in this illustration taken December 1, 2025. REUTERS/Dado Ruvic/Illustration/File Photo Purchase Licensing Rights, opens new tab
Companies
Wells Fargo & Company

Sept 23 (Reuters) - Wells Fargo (WFC.N), opens new tab said on Wednesday its chief ​risk officer, Derek Flowers, ‌would retire in mid-January after nearly three decades at ​the US banking giant.
Flowers, ​who started at Wells Fargo ⁠in 1995, held ​various roles at the fourth-largest ​US bank. He has been the chief risk officer since ​2022 and will be ​succeeded by Chief Operating Officer Scott ‌Powell.
Jumpstart your morning with the latest legal news delivered straight to your inbox from The Daily Docket newsletter. Sign up here.
"Derek ⁠played a pivotal role in strengthening our risk and control framework and ​fostering ​the strong ⁠risk culture that positions Wells Fargo ​for continued growth," ​CEO ⁠Charlie Scharf said.
00:00

01:06

Wells Fargo plans to name Powell's successor ⁠in ​the near ​future.
Reporting by Arasu Kannagi Basil in ​Bengaluru; Editing by Shilpi Majumdar

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E-O is having many org changes so late into the year, leaving directors with no direct reports and employees being set up for year end in a bad place. It feels weird. Anyone know why is going on specifically in audit world?

Why are we steadily whittling away at XOM’s greatest asset?

The core of this company is the people in the field — the ones closest to the valve, making the daily decisions that move the bottom line. They generate the revenue that pays for the showy buildings in Spring.

Do the people at the top not realize that plants run on experience? Do they really believe the latest flavor-of-the-day program will prevent injuries and losses?
How much faith have they put in the idea that anyone can pick up a procedure and start up a refinery? That’s you, Joliet.

In the end, it is onsite technical expertise that keeps this thing going. You cannot run a refinery from the other side of the world, and it is naive to think you can. You cannot plan a turnaround from there. You cannot even plan a simple seal replacement. I have seen it firsthand.

When will XOM finally admit the error of its ways? DEI was a disaster. Ridding the company of some of the brightest minds and replacing them with people who are not up to standard just to save a little money in the end will be a trainwreck.

We talk constantly about our reputation with the public. What do you think we are doing to our reputation with the people we still need to hire? It only takes a moment of talking to any XOM employees to realize what you are walking into. Even an intern can grasp that concept. Apparently the billions are just not enough.

Take note of King Midas. Sometimes the price of wanting more is your own destruction.

Can someone tell us what the Aussies get with FlexYes?
As I understand it, they can work from home all they want.
Does this impact layoffs?

As usual, more restructuring and layoffs as the company heads into Q3 and 2H. Yet the same deadwood leaders that have been in place for 20. 30, even 40 years never get impacted.

"Moving The Goalposts": BofA Downgrades Nike, Slashes Target As Turnaround Story Delayed

to just ki-l nike off
maybe they should market shoes to only smurfs

https://seekingalpha.com/article/4872039-opentext-a-dividend-doesnt-compensate-for-years-of-debt-paydown

Following significant layoffs, Build a Rocket Boy has officially filed for administration. This legal process indicates the company is insolvent and unable to meet its financial obligations. Administration aims to protect the company from creditors while a solution is sought. Opus Advisory Group has been appointed as the administrator. The future of the company and its game, MindsEye, remains uncertain.

London, United Kingdom

https://www.destructoid.com/mindseye-creator-files-for-administration/

I've heard from various colleagues that Wove is on the way out. A failure. I guess that Ainslie didn't send enough brilliantly quirky emails every week.

But seriously, they hired a LOT of people for that. What's gonna happen? I would wager this is probably a 100+million loss if true. Not to mention reputational.

I’ve been seeing ad becoming senior manager and some avp becoming senior director. Anyone else encounter this?

Today is my last with the company after 11 years. I took the VSP but I decided i didnt want to wait till May of 2027. The money would be nice but its not end all be all. Im in a good place to do this. Wish you all the best whatever this company throws at you, it changes like every hour and the direction isnt looking good for all you hard working people who are sticking it out. Y'all take care.

After reading these threads, I will never see puffer vest the same way again! LOL 😂🤣🤣