#layoffs

The tone deafness is staggering. Come one, come all, even though 1 in 4 of you are on borrowed time. But no worries, you can retire on your 10 shares of Burger King stock. Come and hear our overlords drone on about P-M, AI, the analysts who will be running the company as we kick you to the curb.

Story by Jennifer A. Dlouhy and Kevin Crowley

(Bloomberg) -- When Exxon Mobil Corp. Chief Executive Darren Woods told President Donald Trump Friday that Venezuela is currently “uninvestable,” he was echoing warnings already issued by oil industry leaders and analysts.

Indeed, some of his peers had tried to dissuade the White House from even holding the meeting, according to people familiar with the matter.

While Trump wants US companies to invest at least $100 billion rebuilding Venezuela’s beleaguered oil sector following the capture of President Nicolás Maduro, some executives worry conditions won’t permit a speedy turnaround. They also don’t want their companies cast as opportunistically dividing up Venezuela’s vast crude reserves, believed to be the world’s largest, the people said.

Woods not only attended the meeting of roughly 20 oil industry executives, he spoke his mind. But Trump didn’t appear to appreciate the candor. By Sunday evening, the president was telling reporters he “didn’t like” Woods’ remarks and was inclined to keep Exxon out of Venezuela, saying, “They’re playing too cute.”

“Woods thought he was speaking the truth — and he probably was — but he didn’t read the room,” said Andrew Logan, oil and gas senior director at the CERES climate advocacy nonprofit, who speaks regularly with oil industry investors. “He wasn’t in a position to say that without blowback, and blowback is what he got.”

It was a fresh reminder of the potential pitfalls for the leaders of any company — or country — when summoned to Trump’s White House for a meeting. The president is fond of opening some sessions up for public viewing, giving him a platform to extract concessions from gathered executives or government leaders.

Oil executives, however, have reason to be cautious about Venezuela.

Any bid to significantly boost the country’s recent oil production of nearly 1 million barrels per day — much less reach 1970’s peak of close to 4 million barrels daily — would likely require tens of billions of dollars. Companies would have to rebuild or replace abandoned rigs, leaky pipelines and fire-ravaged equipment. Even beyond the physical challenge, industry representatives say they want to see political and legal reforms enabling them to move money in and out of the country as well as on-the-ground security before they make any big commitments.

“The industry was unified on Friday — with the meeting with the president — that there are going to be certain prerequisites that have to happen before there’s continued investment in Venezuela,” Mike Sommers, CEO of the American Petroleum Institute, told reporters Monday.

Exxon’s arch-rival Chevron Corp. remains, for now, the only major international oil company operating in Venezuela.

Exxon executives were taken aback by the media’s reaction to Woods’ comments — according to a person familiar with the company’s thinking — given he also told Trump the company was planning to send an assessment team if invited by the Venezuelan government. In addition, Woods expressed confidence the Trump administration could deliver the legal and regulatory reforms needed for any future investment.

Despite Trump’s negative response, administration officials took note of the changes Woods recommended, said people familiar with the matter who asked not to be named because the conversations were private. A White House official pointed to the president’s Sunday remarks when asked to comment. Exxon declined to comment beyond Woods’ remarks on Friday.

Woods has become more strident in his public comments in recent years, speaking forcefully in pursuit of his policy goals even when it risks unpopularity with politicians, the media and investors. It’s a departure from former CEO — and Trump’s former secretary of state — Rex Tillerson, who tended to be more conservative in his approach to the company’s image.

“They’re gone from seeing silence as a source of strength to seeing silence as weakness,” Logan said. “It’s been a dramatic shift.”

When Europe was considering new climate and human rights laws last year, Woods was among the first high-profile CEOs to attack them directly. He also pushed back on Trump’s plan to pull the US out of the Paris climate agreement, arguing it would forfeit the chance to press for “common sense” carbon-cutting policy on the world stage.

Most strikingly, Woods took Chevron to international arbitration after its competitor agreed to buy Hess Corp., a deal that would secure a 30% stake in Exxon’s prized oil development off the coast of Guyana, next door to Venezuela. Exxon lost, as most analysts expected, but the case left Chevron in strategic limbo for more than a year. Woods defended his decision to pursue it, saying his company would always seek to protect shareholder rights.

For now, there are no signs the Trump administration will actively dissuade Exxon’s involvement in any Venezuelan reconstruction, should the company choose to pursue it.

As one of the Western oil majors with experience in the country — having left after billions in assets were seized by the government — Exxon is viewed as well-positioned to help. Most of Venezuela’s oil is heavy and sour, making it technically challenging to produce. That could constrain some of the independent oil companies that were more bullish at the White House meeting.

Trump told reporters after Friday’s meeting that “we sort of formed a deal.” But pressed to identify any specific commitments, Energy Secretary Chris Wright pointed to Chevron’s plan to increase its Venezuelan production by roughly 50% over the next 18 to 24 months as the “one specific pledge” from an oil company.

https://www.msn.com/en-us/money/companies/exxon-s-truth-telling-on-venezuela-shows-risk-of-crossing-trump

Layoffs confirmed in surveillance coming in February

Because it’s an American company, people will eventually boycott PayPal anyway.

Everyone in BTI has received an email from their PVP on the shift to an analyst-led model and a 'small number of eliminations'. No details on how many overall

I hate to see these layoffs but I recall the high flying days of 2002 - 2006. The stock price was >500 (adjusted for reverse stock split). Shareholders were hosed for years due to mismanagement at C. Jane is, I believe, doing what is necessary to right the ship. And it seems to be working. There are so many disgruntled employees at C that I am surprised that there aren't many more layoffs. Wish the best to all.

The number 2 man under K F was just made president and chief officer of the number 1 short line in the nation that has been taking over BNSF locations, and that is how you take over a class 1 from the inside and get rid of employees at the same time, all the corporate secrets and behind the scenes negotiating to cut employees, and operate under the guise of making a business more profitable was just a means to put the number 2 guy at BNSF in charge of the short line rail responsible for shutting down and scabbing out the most BNSF terminals and mechanical facilities nationwide. Hostile takeover over of BNSF on the horizon to be scabbed out and sold to short line.

I thought there might be some humanity, some authenticity, some humility in kicking off 2026 after the biggest layoff in company history. The biggest layoff directly resulting from horrendous organizational structure and misalignment from the top all while lying to employees about how great things were. Nope. The Chief Product and Marketing Officer posts on LinkedIn and celebrates meeting in person as if that itself is a major accomplishment. Claims direction is clear when literally nothing is different other than #playingtowin vs #gobeyond last year. And then the most tone deaf of all is saying “we have the right people.” The right people after a massive layoff and more to come? Wow. “Leadership” has not changed one bit. Expect the same or worse results because people can no longer pretend this clown show works anymore.

Tuesday/Wednesday. 20-25% for almost all teams.

With Verizon’s acquisition of Frontier moving toward completion, industry analysts expect a first wave of layoffs in March–April 2026. Estimates suggest roughly 4,500–9,000 Verizon employees could be affected, mostly in corporate, administrative, and overlapping network operations roles, while frontline technicians are likely to be spared initially due to regulatory broadband obligations. Some of these reductions may come through voluntary buyouts or early retirements, but the merger will still represent one of the largest workforce adjustments in recent Verizon history.

Rebadged employees that you may work with from your core are being released. I wish all the best.

I'm hearing everything from Tuesday/Wednesday this week to cuts starting on the 20th. Can anybody say with certainty what the date is?

Finally some good layoff news. Per Bloomberg Citi is severing 1K people this week. US centric. Pick me before I retire please.

Also FIRST!

"HP Inc’s stock has reached a 52-week low, hitting $21.20, marking a significant point in its trading history. This decline reflects a broader downward trend for the company, as HP Inc has experienced a substantial decrease of 36.53% over the past year. The technology giant has faced various challenges in the market, which have contributed to this notable drop in its stock value. Investors are closely watching to see how HP Inc will navigate these difficulties and whether it can rebound from this low point."
https://www.investing.com/news/company-news/hp-inc-stock-hits-52week-low-at-2120-93CH-4435466

Yes, keep laying off your best and most innovative employees and keep hoping that everyone buys your "HP Invent" mantra.

The software company is laying off about 10% of its global workforce following its $2.5 billion acquisition by Advent. The cuts in Israel will be relatively modest, around 5%, while layoffs in India and the US will reach about 10% of employees.

https://www.calcalistech.com/ctechnews/article/bybo6fzbbl

Laid off 6 months ago and so far all I’ve heard through my applications and recruiters is that their experience with former SS&C employees have not been good.

Not my fault that 3/4 of the company are subpar offshore & H1B employees that fail to practice even the most basic software standards that anyone would learn from a freshman level undergraduate course.

Worse for me considering this has been my only experience since graduating. Worse for SS&C considering me with no other experience other than a bachelors degree has more knowledge than supposed “senior” engineers.

Fun fact, if you’re a senior engineer than maybe you should know your database issue that your team has been working on for 4 months is because you guys somehow decided to put whitespaces in the column names which we’ve been trying to tell you is a horrible practice

Through out the system BNSF cut signal maintainers, inspectors and ET’s.

Some groups in risk and compliance are getting as much as a 20% axe. Isnt this fun? What could go wrong with a bank cutting risk functions? Lets bet it all on red! Trump, that is.

What exactly is redeployment, especially an open-ended one? Is this just a RIF in disguise?

https://www.thelayoff.com/post/@OP+1keshf0x2

Any info on Uhc side?

These layoff instruction documents are like the Chevron incompetence gift that keeps on giving. Does HR do any quality control on their instructions?

Maybe the layoffs/offshoring should have started in HR so they could experience their own incompetence with this inaccurate information they publish.

What does everyone think of this ridiculous week of career expo training? My only goal at this point is to not lose my job - forget about all of this BS!

All bootlickers - Go check out askAT&T’s prompt catalog and put “Executive” in the search bar. Here, you can see how the executives you worship & believe should be paid so much, actually do nothing. The executive update you received, was just a GenAI prompt that look them 5 seconds to generate. The headcount reduction email you received? 3 seconds to generate.

AI has already replaced 90% of these executives jobs, they want you to believe that they are irreplaceable and that you are what needs replacing.

What’s your favorite? My favorite is the “Critical Thinking Companion” that the executives need to critically think! Very telling of the state of the company

I’ll sum the email up for you quickly:

“You American employees are too expensive and we need to make the stock price go up, we’re going to be spending the next 24 months laying off as many of you as possible to be replaced with AI and/or cheap India labor”

I appreciate the heads up, but a 2 year timeline is crazy.

Layoffs are coming. The vagueness of the email is beyond frustrating. The timeline is beyond confusing as well… 24 months?

Anyone have insider knowledge about which teams/departments?

They want to cut workforce to boost Intuit stock price.

https://www.thestreet.com/automotive/gm-puts-6-billion-price-tag-on-latest-mistake

Can anyone say: More Layoffs/restructuring coming?

It’s over

The pulse page shows that Carelon global solutions is one of the best place to work in India and Southeast Asia. Totally giving a middle finger to all those that got riffed to offshore work.

More layoffs

Nice to know BNY finds it necessary to spend $200,000 on two stupid robots that look at if they came from a vintage 1980s Sharper Image catalog.

Two hundred grand and for what? To tell jokes? But let’s lay off staff.

Robin Vince is a useless tosspot.

Any layoffs today

OPO employees having meeting with their manager seeming to gauge interest in leaving over the change. Are they making a list of who to let go due to “downsizing”?

Reps are done.