#downsizing

June 30th was the drop dead day to file the IPO. They've been shopping the IPO for 6 months and the market said "no thanks". Anemic growth (circa 1%), one time ebita bump from massive cost cuts and the McGraw IPO flop has put a nail in this coffin. I predict Apollo will look to carve up the peices and get their money back .KKR is probably pushing for the same thing. MH? he will be gone and I bet the process has already started. NK and the rest of the pretenders? Well they will jockey for position but Apollo will bring in an outsider to carve up the corpse. All the folks who jumped on this bandwagon are, I'm sure, not as upbeat as 3 weeks ago. They jumped on a sinking ship, threw the crew overboard and now their hubris will fade away rather quickly as they look to the exits

Do tell.

There were a bunch of layoffs on 6/24 and another set of layoffs on 7/6. How often are these layoff rounds happening now? They used to seem like every 3 months but they are happening more frequently now.

Divebombing into oblivion
Dying along with Larry

Hearing some pretty heavy rumors this week that a major downsizing is headed our way for the commercial aviation teams. Honestly, it looks like Starlink’s recent wins have completely eaten our lunch, and to make matters worse, our hybrid LEO/GEO antenna is apparently having consistent technical issues with no fix in sight. Since the team hasn't been able to secure any more funding to iron out those hardware bugs or land any new customer contracts, management's strategy is basically to cut the division down to a skeleton crew just to sustain what's left. Does anyone hear the same rumors?

What’s up with the story about a liquid selloff in Dell over the coming months?

Please let us know if you know which areas are getting hit and how badly.

Company’s market share will be cut in half fast

Energy giant Chevron is moving approximately 180 jobs from its San Ramon, California office to Texas. This move is part of a larger strategy to downsize its California presence and expand operations in Texas. The affected positions are designated as relocations, with a deadline of September 8th for the move. This follows a previous reduction of 68 positions in October 2025, bringing the total downsizing in San Ramon to 248 roles. Chevron's refining operations in California remain unaffected by this decision.

San Ramon, California

https://www.mercurynews.com/2026/07/10/chevron-jobs-economy-oil-gas-layoff-energy-work-san-ramon-bay-area/

Ouch. I am fairly sure Fiserv still retains the largest build out for IBM.

They keep talking about the majority of the minority vote being needed to merge DT and Tmo. So how would you do that if you knew the current minority would vote no? You push them out. How? Drop the stock price so people panic sell. Lay them off so they are forced to sell. Devalue the company as much as possible so a buyout must happen for the org to survive. Once DT acquires TMo, sell to starlink because the FCC can't block a german owned company.

The goal isn't financial success right now, it can't be.

Anyone getting any word on anymore layoffs....

So 1 person from my team and another from an adjacent have been laid off. Both were high performers.

We also got some new guy from Sofi who seems to be big on downsizing based on individual contribution. Apparently he's making people give adhoc presentations. This makes me wonder if it's a test to see who has the abilities to contribute individually...
Interesting times.

Any news on potential layoffs? If trends persist, they’re quarterly & won’t be stopping anytime soon.

Will there be even more cuts?

What do you think the chances are of more cuts happening this month?

Red Rover Interactive is making layoffs. The studio developed the game Enginefall. This action follows the company raising $20 million. The article does not specify the size of the cuts. It also does not detail affected departments.

https://gamedev.net/news/enginefall-developer-red-rover-interactive-is-making-layoffs-r4285/

HKS has announced staff reductions. Dozens of employees are affected by the layoffs. The firm cites a real estate industry slowdown. Tight lending standards are impacting new projects. Developers face challenges moving forward with construction.

Dallas, Texas

https://www.bizjournals.com/dallas/news/2026/07/02/hks-layoffs-dan-noble.html

Signs are surfacing internally about potential layoffs and downsizing.

How deep do we think cuts will be for the corporate affairs function - formerly communications in PC&C?

International Paper announced plans to close four facilities in the United States. These closures will affect 330 employees across four states. The company will shut down plants in Illinois, California, and New Jersey. It will also cease preprint operations at a Kentucky facility. These actions are part of a strategic effort to optimize its North American network.

https://www.packagingdive.com/news/international-paper-four-closures-layoffs-2026-fiber-production/823945/

As the great Status Quo once sang, "Down, Down, Deeper and Down"

HC&D is a concrete contractor. The company is based in Hawaii. It plans to close its Maui quarry. This closure will happen this summer. Dozens of layoffs could result from this action.

Maui, Hawaii

https://www.bizjournals.com/pacific/news/2026/06/25/hcd-closes-maui-quarry.html

https://www.mysanantonio.com/business/article/mass-layoffs-texas-22319187.php

SPACEX was the trigger, we are all in for a world of pain. OpenAI will fall and Oracle will go with it. They cant cut enough heads to make up for the losses, hiding these cuts as "AI innovation" no longer makes sense.

https://finance.yahoo.com/markets/stocks/articles/chinese-hedge-funds-warn-ai-091421732.html

Is it over yet

I think the downfall really started back in 2016, everyone I speak (ys staff) is negative and tells me to sell my stocks now. After 2016 the company became bloated and started its India Journey and reducing quality and costs (it worked!!). At the same time it became a D&I playground for LHBTQI folks and as white male you were almost shamed for who you are and LT got targets getting more minorities and females promoted.

Good luck all, the good ones (you?) will find a better place their is al lot going on, just not in oil and gas anymore.

Sharing my research results:

Upstream & Exploration: Implementing a 20% headcount reduction across exploration, subsurface, and well-engineering teams over Q2 and Q3 2026.
Regions: Heavily hitting main administrative and technical hubs in Houston (USA), The Hague (Netherlands), and London/Aberdeen (UK).

Downstream & Chemicals: Downsizing operational footprints throughout 2026 to contain cash bleeding following multi-billion dollar losses in base chemical segments.
Regions: Layoffs and scale-backs target older processing infrastructure in Rotterdam (Netherlands), Stanlow (UK), and Monaca (USA), following a complete exit from Singapore assets.

Global Business Operations: Consolidating corporate back-offices and shifting away from generalized administrative roles.
Regions: Shared-service hubs in Continental Europe are affected, including roughly 300 job cuts executed at the Kraków (Poland) center in June 2026.

Low Carbon Solutions: Personnel cuts are occurring dynamically throughout 2026 as renewable projects are deferred or canceled.
Regions: Impacting project engineering and corporate green teams primarily across Northwest Europe (e.g., matching the construction pause at the Rotterdam biofuels facility).

It is natural to feel anxious when restructuring threatens your security, but corporate changes cannot diminish your personal value or expertise. While you cannot control executive decisions, you can reclaim power by auditing your wins, refreshing your resume, and reaching out to your network. Lean on the solid foundation of skills you own; companies change, but your capability remains.

I used to think things could turn around but I don't anymore. The damage is too deep after one too many bad decisions. I don't think there's any saving this place anymore.

Is it over?

I've been here long enough to have noticed a pattern. Each year, around this time, there are cuts. It's not a massive round, but it's always something. A few people here, a few there, but it always happens like clockwork. If you've been here a while, you know what I'm talking about.

Bleeding to death...

Lucid Group announced significant layoffs. Over 1,400 employees will be affected companywide. Hundreds of these job cuts are in Arizona. This action aligns production with current demand. One C-suite executive also lost their position.

Phoenix, Arizona

https://www.bizjournals.com/phoenix/news/2026/06/22/lucid-motors-layoffs-second-round-new-ceo.html

Leadership doesn’t want to be transparent because you wouldn’t like what they told you if they were transparent.

Mainly, that they are now not trying to manage a “comeback” as much as they are trying to manage “an orderly decline in Nike’s previously hegemonic industry position.”

Nike isn’t going away. But it is also no longer a growth company, and for several reasons I won’t get into here the company likely reached a plateau a few years ago. The market in which Nike was established and grew effectively no longer exists. Or at least, the old rules that allowed Nike to continuously succeed are no longer the rules.

As a result Nike needs to balance “doing what Nike has historically done” with the reality that the company still needs to significantly downsize. If you’re management, there’s no polite, nice, or pep-talk way to communicate that. So they don’t.

Like I said the reasons for Nike’s decline are multi-faceted and in some ways complex. Nonetheless the company IS now just trying to hang on to what it already has. Talk of a “comeback” is sort of what they have to say but make no mistake; leadership is not naive to broader market trends that disfavor any sort of tangible “comeback”.

My partner will sometimes put on some ugly clothes and ask me, “How do I look?” My partner likes those clothes. So I answer with “You look great!”, and leave it at that.

Should I instead be more transparent? Should I instead engage in “more honest communication”? Maybe. But will that improve matters? Or create a new problem neither of us needed?

One could argue Nike is being kind by not being fully transparent. I’m not claiming that would be a GOOD argument. Just an understandable argument. Because if Nike leadership was fully transparent about the current field of play and what it really means, my guess is that it 100% would not make people feel better.

An on point post, the OP is @20q+1ks86w36m.

The University of Vermont Health network recently laid off over 140 employees. These cuts primarily targeted administrative and non-patient-facing roles. Affected positions include nurses, social workers, and cytogenetics lab staff. The network aims to save $9.5 million annually towards a $300 million expense reduction goal. Unions express concerns about potential impacts on patient care and staff workload.

Burlington, Vermont

https://vtdigger.org/2026/06/18/uvm-health-is-downsizing-heres-what-those-cuts-mean-for-services/

https://www.dallasnews.com/business/article/global-transport-company-shrinking-d-fw-22312734.php