#finance

Sunday June 21st is payday but friday the 19th all banks are closed. Any idea on what day we will get our checks?

We used to see financial analysis of Oracle after earnings in this channel talking about layoffs. Any thing happening ?

https://www.fitchratings.com/entity/mutual-of-america-life-insurance-company-80091235

Rating Action Commentary

Fitch Revises Mutual of America's Outlook to Stable; Affirms IFS Rating at 'BBB+'
Fri 12 Jun, 2026 - 9:49 AM ET

Fitch Ratings - New York - 12 Jun 2026: Fitch Ratings has affirmed the Insurer Financial Strength (IFS) rating of Mutual of America Life Insurance Company (Mutual of America) at 'BBB+'. The Rating Outlook has been revised to Stable from Negative.

The revision of the Outlook reflects Mutual of America's continued balance sheet strength while executing on its strategic turnaround plan. The company produced a modest operating loss in 2025; however, core profitability improved yoy and Fitch views the plan as credible to further improve results through expense reductions and revenue expansion.

Mutual of America's rating is underpinned by its very strong capital position, demonstrated by its regulatory capital ratio, Prism capital model score and its lack of financial leverage. The rating is also highly influenced by the company's business profile, which reflects Mutual of America's position within the niche non-profit, small case retirement plan market and its differentiated approach to distribution, emphasizing underserved and underpenetrated portions of the market. The rating is currently constrained by Mutual of America's challenged profitability.

Key Rating Drivers
Pressured Profitability: Mutual of America's 'BBB+' IFS rating is one notch below the implied IFS rating of 'A-' due to its financial performance and earnings, which is the weakest link. The company reported net income of $2 million for 2025, compared with a net income of $53 million in 2024 and a net loss of $236 million in 2023. Positively, operating results improved yoy with a modest net loss of $15 million in 2025 compared with an operating loss of $155 million in the prior year, excluding the company's sale of the remaining stake in its home office building in New York City. In 1Q26, the company produced a net operating gain of $3 million. Fitch expects a slight loss for the full year 2026, followed by modest profitability in 2027. Profitability will be driven largely by continued reductions in expenses including vendor efficiency, contract rationalization, reduced real estate footprint and workforce optimization.

Does the Gentiva Hospice divestment mean anything or just a fund raising move to generate cash to prop stock price up?

Did anyone get their quarterly dividend direct deposited yet? Yesterday was the date and didn’t see it hit account yet

We are a meme stock

Maria Aspan, a finance correspondent for NPR, was laid off. She spent two years covering Wall Street, the economy, and corporate power. Aspan joined NPR from Fortune magazine, where she was a senior features writer. Her career also includes reporting for American Banker and Reuters. She has received numerous awards for her journalism.

New York, NY

https://talkingbiznews.com/media-news/npr-finance-correspondent-aspan-among-the-layoffs/

Layoffs are inevitable- but does anyone know for sure if financial crimes will be affected this month for layoffs?

I understand that we have to go through a RIF with Engineering and Products.

However, why do we have so many people in HR and Finance? Not to mention the recruitment department where we currently have no hiring to do, yet there are around 50 people in that team. We also have over 90 people in L&D and 100 in marketing, yet we have had to cut roles in Engineering.

Many tech companies cutting the size of their HR departments - even Uber has done so recently. META and Salesforce too.

This feels like a very targeted and poorly thought through process. Arguably, AI is capable of replacing far more roles in these functions than it is in Engineering and Products.

What’s going on in finance? Upstream CFO quits then a lot of mid-career hipos quit. No word from management on what’s going on

"pump and dump"

Anyone in finance care to comment on what's going on with you guys ?

Hearing about large scale layoffs.... How many are affected, when is it happening/how long do they think it will take?

Not sure how many were involved.

Widespread layoff confirmed across technology, finance, modeling units.

https://www.fierce-network.com/broadband/optimum-moves-protect-eastern-assets-debt-standoff-drags

Truist su-ks

Did I miss something about our deposits being different? None of my insurance was taken out, and my gross pay is less.

Informed today that financial planning group of 70-80 tenured professionals or so is going to get cut. When pretty Ricky tells you they won’t cut advice jobs due to AI , do. Not. Listen.

I have been trying to record my family’s expenses and with everything included from mortgage to groceries to kids classes and education savings, car insurance to home insurance, it costs around $8K-9K to run a home which keeps my single salary savings to $500 per month. Do you guys see the same too or more? What are your ways to make sure you save more on a single salary?

I've decided it's in my best financial interest and after looking at my entire career here that I should wait until they at least offer an interest in leaving. I'll have the 6 month severance and enough time to find another job of which skills are in high demand and with military background could go back into private contractor. Good luck everyone!

The City unveiled its 2027 budget proposal. This proposal addresses a $29.5 million deficit. It explicitly states there will be no layoffs. No new taxes are included in the plan. The city aims to manage its finances without these measures.

Cincinnati, OH

https://www.fox19.com/video/2026/05/22/city-releases-2027-budget-proposal-no-layoffs-no-new-taxes-amid-295m-deficit/

https://finance.yahoo.com/markets/stocks/articles/fiserv-prunes-non-core-assets-103900049.html

Just heard our AUA had grown by 33% since 2021. Does anyone know that the S&P500 is up 77% over the past 5 years?

AI investment has reached $1.5 trillion since late 2022. This sum equals the projected 2027 U.S. defense budget. The finance sector experienced 49,000 layoffs due to AI in 2026. Industry experts believe AI will augment finance workers. Human judgment and oversight remain crucial for sound financial decisions.

https://www.thestreet.com/employment/amazon-microsoft-google-power-ai-behind-49000-finance-layoffs

Can the bank afford another bonus for Charlie? Can Charlie survive without it?

With so many people leaving the luxoft fin services brand how much longer can it be for the manager to actually star being cut? Am thinking of trading and risk and the muex practise and the big acconts that must be losing money

What's going on in Finance?

OPTU Downgraded by Citigroup -- Price Target Lowered to $0.50
Author's Avatar
GuruFocus News
05/15/2026 09:34

15 hour days and weekends. No breaks. Leadership does not care.

Ok we're down to about a month and a half until the impending announcement. I'm sure someone who reads these has some details. What are you hearing?

I suspect everything finance will be centralized to Houston (i.e. no teams at the refineries)

Did the former Upstream CFO resign because the Finance 2.0 recommendation came back with a 50%+ layoff for the finance organization? Did he actually have morals and just couldn’t continue to work for XOM

he classic Apollo playbook:

Buy distressed debt at 60 cents on the dollar
Take control of the company
Extract management fees, dividend recaps, sale-leasebacks
Pile on more debt to fund those extractions
Flip it or take it public at an inflated valuation
Leave the debt burden with the company and its workers

They got extraordinarily rich essentially being vultures with spreadsheets. Toys R Us being the most notorious example — a viable retail business that might have navigated the Amazon era with investment, instead bled dry to service the debt load private equity strapped to it, then liquidated. 30,000 jobs gone.
The reversal now:
The very mechanism that made them wealthy — cheap abundant debt — is now the thing squeezing their portfolio companies. They loaded businesses with floating rate debt when rates were near zero. Now those same companies are paying 8-9% on debt that cost 3% when the deal was done. The interest coverage ratios that looked comfortable in the pitch deck are underwater in reality.

Apollo's problem today:
Their Private debt funds are being squeezed.... Investors are queuing to withdraw their money, but Apollo, ever the masters at extracting cash are blocking investors from extracting their cash.
Their own fundraising depends on showing strong returns
Strong returns depend on not marking assets down
Not marking down depends on not being forced to sell
Not being forced to sell depends on keeping redemption gates in place
Gates signal distress which makes future fundraising harder
It's a trap of their own construction.
The human cost dimension:
What makes it genuinely poetic rather than just financially interesting is that the people who will suffer least are the Apollo partners who already extracted their carry and management fees in cash — that money is gone, sitting in their personal accounts, insulated from whatever happens to the funds now. The people who suffer most will be:

Pension beneficiaries whose funds allocated to private credit chasing yield
Workers at portfolio companies that get restructured when the debt becomes unserviceable
Retail investors who got sold private credit products in the democratization push of the last few years

The democratization push was particularly cynical — Blackstone, Apollo et al spent the last 5 years lobbying to open private markets to retail investors, framed as giving ordinary people access to returns previously reserved for institutions. In reality they were hunting for new pools of capital to absorb the assets institutions were quietly becoming reluctant to buy at current valuations. Distributing the risk downward while keeping the fees flowing upward.
The SEC under the previous administration largely went along with it. Whether the current regulatory environment does anything about it is another question entirely — though given the administration's general disposition toward financial deregulation, probably not.
The deeper irony is that the whole private equity model was built on information asymmetry and complexity as a moat — if you can't price it, you can't challenge the valuation. That same opacity that let them extract value on the way up is now the thing preventing orderly price discovery on the way down. They built a machine that works brilliantly in one direction and catastrophically in the other.
Though as usual, the architects of the situation will be largely fine.
The mob analogy is more apt than most financial commentators would dare say — and the structural parallel is remarkably precise.
The bust-out:
What the mob called a "bust-out" is almost textbook private equity in distressed situations:

Take control of a business
Immediately establish credibility and access to credit
Draw down every available credit line
Extract cash through fees, dividends, sale-leasebacks of assets
Leave the hollowed shell with the debt
Walk away before the collapse

The only difference is the mob used fear and the occasional arson. Apollo uses leveraged buyout agreements, management fee structures, and Delaware holding company law. The end result for the target company and its stakeholders is frequently identical.
The Sears case study:
Eddie Lampert's destruction of Sears is almost a perfect bust-out in slow motion:

Merged Kmart and Sears creating a vehicle loaded with real estate value
Spun off the real estate into a REIT — Seritage — extracting the most valuable assets into a separate entity he controlled
Starved the retail operations of capital investment while collecting fees
Watched the retail business deteriorate "unexpectedly"
Meanwhile the real estate value had already been extracted
175,000 jobs eventually gone
Lampert personally fine, operating from his yacht in Miami

The language is Orwellian by design:

"Operational efficiency" = cutting staff and maintenance
"Rightsizing the balance sheet" = loading debt onto the target
"Unlocking hidden value" = selling assets the company needs to operate
"Strategic transformation" = preparing for bankruptcy while extracting fees
"Aligning management incentives" = giving executives options to flip quickly while workers get nothing
"Patient long term capital" = we have a 7 year fund life before we have to show returns

The vocabulary is specifically engineered to sound like value creation while describing value extraction. McKinsey does the same thing — provides the intellectual laundering that makes looting sound like strategy.
The legal architecture is the real innovation:
What makes it genuinely different from the mob — and arguably more insidious — is that generations of lawyers, lobbyists and academics built a legal architecture that made it not just legal but celebrated:

Delaware corporate law optimized for shareholder extraction
Carried interest tax treatment meaning PE profits taxed at capital gains rates not income
Bankruptcy law allowing secured creditors (the PE fund) to jump ahead of workers and pensioners
ERISA rules that let pension obligations be shed in restructuring
Limited partner structures insulating the fund managers from portfolio company liabilities

The mob had to corrupt individual judges and officials. PE corrupted the entire legislative and regulatory framework over decades through campaign finance and the revolving door. Far more efficient.
The revolving door completes the circle:
The regulatory capture is almost total. SEC commissioners become PE partners. Treasury officials join Apollo or Blackstone. Fed governors sit on advisory boards. The people who should be watching the store have a financial interest in not watching too carefully — because their post-government career depends on the industry's goodwill.
Where it differs from the mob:
The mob at least had a certain redistributive quality within their community — the money circulated locally, bought loyalty, funded neighborhoods. PE extracts value and concentrates it among a remarkably small number of people. The carried interest on a successful fund can make a handful of partners billionaires while the pension fund that provided the capital gets an 8% return it could have gotten in an index fund with zero fees and zero complexity.
The cultural damage:
Perhaps the most lasting harm is what it did to the idea of business itself. A generation of the most talented people from the best universities went into finance and private equity not to build things but to financialize things that already existed. The engineering talent that built America's industrial base was replaced by financial engineers whose skill was not creation but extraction. That's a civilizational cost that doesn't show up in any fund's IRR calculation.
The instinct that it's essentially organized crime with better tailoring is — while impolite in polite company — analytically pretty hard to refute.

Reorg/layoffs happening in the Finance area.

while broader financials only down 6%. JPM down 7%. BAC only down 9%.

Citi is up 7%

Booooooo Charlie Scharf.

Show us the asset growth.

https://share.google/8GK5V3V463T8v147p

Heard there were a lot of layoffs in Tulsa. Anyone know which teams?

How many were let go at the basking ridge country club in finance ? Is there a 100 page PowerPoint for that ?

I get that being played off can be really stressful. More so now than ever companies are showing us how little we all matter. If you’re on the finance side of Fidelity, have you ever given thought to using your skills for yourself instead of a company? I did two years ago and have been doing well since. Just some food for thought