#restructuring

How is nobody talking about this? Should I be applying elsewhere?? "Truist is undergoing internal restructuring. Sources indicate that between 500 and 700 contractors were cut last Friday in Digital and Technology divisions citing "policy concerns". Additional reductions are on the horizon, including cuts to employee benefits, further contractor downsizing, and full-time staff layoffs.'

In a surprising turn of events, industry insiders are whispering that Dell Technologies might be weighing its options for a potential sale. While no official statements have been made, sources close to the matter suggest that preliminary conversations with private equity firms and potential strategic buyers have quietly begun behind closed doors.

Dell, a long-standing giant in the PC and enterprise hardware space, has seen its business evolve dramatically in recent years. With growing competition, ongoing market shifts, and recent volatility in tech stocks, some speculate the company may be exploring ways to unlock shareholder value or streamline its sprawling operations.

Fueling the rumor is Dell’s relatively quiet stance on recent earnings calls regarding long-term strategic plans, as well as unusual movements in its stock price and insider activity. Some analysts believe a sale, or even a significant restructuring, could be part of a broader strategy to respond to tightening margins in hardware and the growing dominance of cloud-native infrastructure providers.

Of course, without confirmation from Dell or involved parties, all of this remains speculation. Still, in an industry known for its rapid consolidation and bold moves, the possibility of Dell being up for sale is one worth watching closely.

Stay tuned.

Wirth now has three priorities.

First, complete the restructuring and rebuilding of Chevron's corporate culture; second, integrate Hess; and third, extend the concession to develop the giant Tengiz oil field in Kazakhstan, which expires in 2033.
The latter is crucial. When the initial 40-year agreement was signed in 1994, it was dubbed the "deal of the century," as it gave the company access to the oil of the former Soviet Union.

Our concession is valid for another eight years…We have begun working with the government to discuss its extension. I'd like to finish this, not delegate it to someone else," Wirth said in an interview with Bloomberg.

Large scale RIF's coming this month! There is a memo currently doing the rounds with management, looking for additional departmental cuts. They initally are looking to trim the fat. Like before Attendance, time keeping, performance, etc.
Elliott Investment Management are undertaking large scale cost-cutting imitative along with other cost saving and restructuring initiatives. The RIF's will begin this month and continue through to 2026.
Elliott are planning to undertake a number of acquisitions of specific medical device companies, with the end goal being to transfer products to more competitive countries. Keep watching this space, for the types of companies bought and country they are situated in. This will give a good indication as to which facilities are for the block.

The petrochemical sector is struggling with weakening demand, overcapacity and a global pivot towards cleaner energy, analysts point out.

SINGAPORE: ExxonMobil’s decision to cut up to 500 jobs in Singapore signals wider industry challenges from declining demand and rising supply, analysts said.

The US energy giant on Wednesday (Oct 1) said it plans to reduce 10 to 15 per cent of its workforce in Singapore by end-2027, calling it a move to improve competitiveness in an “ever-evolving landscape” and to "position the business for future success".

The announcement followed a global restructuring plan unveiled a day earlier, which will see the company laying off 2,000 jobs worldwide, or 3 to 4 per cent of its workforce.

Analysts pointed out that ExxonMobil's cuts reflect broader challenges across the sector.

“It's a demand-supply story affecting international oil and gas companies,” said energy consultant Tilak Doshi.

“Crude oil prices are down, margins are down, revenues are down … So how do they respond to it? By cutting back.”

Other major US oil companies, including Chevron and ConocoPhillips, have announced job cuts this year, as Brent crude prices fell by about 12 per cent this year, driven by rising OPEC+ supply.

The sector is also facing weakening demand and overcapacity, particularly with the growth of petrochemical plants in China, said former Energy Studies Institute visiting senior fellow Leow Foon-Lee.

Singapore is not insulated from these challenges, given its role as a regional refining hub, he said.

Beyond oil demand and supply, companies also face uncertainties from trade tariffs and pressures to restructure as artificial intelligence reshapes operations, said Mr Leow, who is also an adjunct professor at Nanyang Technological University's business school.

SHIFT TO GREEN ENERGY
Besides ExxonMobil, other oil giants in Singapore have cut back their businesses in recent years.

In May last year, Shell sold its Bukom refinery in Singapore – one of the world’s largest oil refining and trading centres – to Indonesian firm PT Chandra Asri and Swiss-based Glencore, having earlier announced plans to cut 500 jobs over three years.

Structural shifts in the industry are being driven by the global transition to cleaner energy, automation and stricter regulations, said Dr Roger Fouquet, principal research fellow at the Energy Studies Institute at the National University of Singapore.

Singapore, like other parts of the world, is moving towards deploying cleaner energy with a goal of achieving net-zero carbon emissions by 2050.

The country was the first in Southeast Asia to implement a carbon tax in 2019. Businesses that emitted more than 25,000 metric tonnes of greenhouse gas a year had to pay S$5 (US$3.90) per tonne of carbon dioxide equivalent produced.

This tax was raised to S$25 per tonne of emissions in 2024, and will eventually be raised to S$50 to S$80 by 2030.

Analysts stressed, however, that current layoffs are tied more to demand and supply than to carbon policy.

SINGAPORE'S EVOLVING ROLE
Despite the turbulence in the industry, analysts said Singapore's petrochemical hub role is not diminishing but evolving.

"The rationalisations are paving the way for a more resilient … and future-driven market and environment,” said Mr Timo Tumuscheit, vice-president of business development for chemicals at Argus.

He said Singapore is “moving up the value chain” by focusing on more specialty chemicals, which are higher-value, produced in smaller quantities and tailored for specific functions.

Momentum is also building around biochemicals, carbon capture and low-carbon fuels, which reflect the region's shift towards more sustainable energy systems.

Although Singapore is now a hub for liquefied natural gas and bunker fuel, the fuel mix will change to cleaner fuels in future, said Mr Leow.

“And so our role has not changed. It's just the fuel mix has changed,” he added.

Mr Tumuscheit agreed: “Singapore, as a petrochemical hub, will always remain a major player and an important hub in the region and globally.”

https://www.channelnewsasia.com/singapore/exxonmobil-layoffs-petrochemical-industry-challenges-cleaner-energy-5382121?cid=cna_flip_070214

A Takeda spokesperson confirmed to FirstWord on Thursday that 137 of its employees in Massachusetts will be let go due to this change.

The layoffs are the latest to hit the pharma's workers in the state. Last year, Takeda cut nearly 1000 staffers in Massachusetts.

https://firstwordpharma.com/story/6230311

It’s just for fun:

“If USAA does plan a major layoff, it is most likely to occur before the end of 2025, perhaps in late Q4 2025 (October–December), as part of restructuring under the new CEO’s agenda.”

It also talks about if there’s someone does similar tasks as you, your odds of being laid off is higher. Based on available data, it looks like there are a lot of redundancies in the risk and compliance space. Even though there’s a lot of regulatory hurdles USAA still have to deal with, but it seems like data suggests that the current structures are not effective.

Don’t delude yourselves into thinking this might be different. There’s no such thing as an employee-positive CEO. They’re all beholden to shareholders, even those few who don’t think about their own pockets first. The only question right now is how drastic the cuts will be.

Oracle’s strategy is firmly established from its earnings notice, with a clear commitment to continuing as a leader in the infrastructure space. The key upcoming changes include:

• Expanding headcount in data centers and OCI (Oracle Cloud Infrastructure)
• Doubling down on OCI initiatives
• Phasing out legacy applications
• Transforming select legacy apps into more modern solutions
  To remain relevant, you will need to align yourself with one of these focus areas. Please be aware that there will be significant reductions in management and leadership roles in the near future. These cuts are expected to occur continuously over the next two years. Now would be a good time to start updating your resume. People who were laid off recently will struggle for a while but eventually settle in. So plan ahead.

Alix Partners will provide their final recommendation by December. Good luck to all. And God help us

Funcom, the studio behind Dune: Awakening, has announced it will lay off some employees as part of a restructuring effort. The news may come as a surprise to many fans in light of the MMO's widespread popularity since release, although the team has dealt with its fair share of issues, too. Regardless, while work on Dune: Awakening will continue, not all the original staff will be involved in it going forward.

https://gamerant.com/dune-awakening-developer-funcom-layoffs/

https://tech4gamers.com/xbox-layoffs-expected-q1-2026/

I found out last week that the leasing contracts have all been sold off to various companies around the world. Europe was recently sold in the last months and North America was sold a while ago to a company called Peak. All the employees are gone from that group and Xerox doesn't have any equity anymore. We don't own anything anymore, we don't pay our bills even close to on time, if even at all (from what I have heard) and the employees are all disgruntled. On top of all of that, this company has a ton of C level execs for some reason and more high end managers than people that actually do work.
Great job Steve B! What leadership he's displayed running this company into the ground. Thank God the debt machine of Lexmark is here to save us! LOL I so look forward to Kim Kleps BS emails and the fireside chats of nonsense. Steve B getting an award weeks ago is the cherry on top of this sh*tpile.

Every major player has its own network group, but Intel plans to get rid of it...

https://www.msn.com/en-us/money/topstocks/3m-company-mmm-targets-25-margin-expansion-launches-1-000-new-products-by-2028/ar-AA1NtvBY?ocid=finance-verthp-feeds

When will middle management get changed over. If Uniti replaces upper management then they need to replace lower management.

https://varindia.com/news/avaya-cuts-over-30-of-india-gcc-staff-in-major-restructuring

According to Moneycontrol, TCS is offering one of the most generous severance packages seen in the Indian IT sector. Employees will first receive three months of notice period pay, after which severance payouts will range from six months to two years of salary, depending on the length of service. Long-serving staff with 10-15 years of experience may receive packages worth up to 1.5 years of pay. Those eligible for early retirement will also be given all retirement benefits, including insurance, in addition to severance.

Employees who have been on the “bench” — without projects — for more than eight months are also impacted. Their exit packages will be smaller, typically limited to the three months’ notice pay. TCS said it will provide career transition assistance, including covering outplacement agency fees for at least three months for junior associates.

The restructuring follows earlier reports that TCS planned to cut about 2 percent of its workforce, or over 12,000 jobs. The IT employees’ union NITES has accused the company of forcing around 2,500 employees in Pune to resign, a claim TCS has strongly denied. The company maintains that only a limited number of staff have been affected and that the initiative is aimed at “realigning skills” in line with future requirements.

This wave of layoffs highlights the pressure facing traditional IT firms as automation and AI adoption accelerate. Clients are increasingly demanding advanced digital solutions and expect their outsourcing partners to deliver with smaller, more specialized teams. TCS, which employs more than 600,000 people worldwide, is now reshaping its workforce to focus on areas such as AI infrastructure, automation, and advanced analytics, while winding down legacy roles.

Nov or Dec roll out and now none surprised.

I see there are many title changes across PEP. Should I be concerned if my title didn’t change? Worried about restructures and org changes.

Any intel on what the meeting(s) tomorrow are about? More layoffs? Restructuring? Consolidation?

Prudential Financial is laying off 63 employees in New Jersey between November 16 and December 16, 2025, according to a state filing. The company said the cuts are part of ongoing restructuring to align its workforce with strategy and maintain competitiveness, though it did not specify which positions will be affected.

This follows several earlier rounds of layoffs. In July 2025, Prudential announced 57 job cuts, and in 2024 it eliminated 637 positions across four separate rounds, including a single reduction of 238 jobs in September of that year.

The layoffs come despite Prudential’s stock rising 6 percent in September 2025, fueled by stronger-than-expected sales and capital returns. However, the company reported weaker earnings, with Q2 net income falling to $533 million from $1.2 billion the year prior and posting $516 million in realized investment losses.

Prudential also recently elected Joseph Wolk, CFO of Johnson & Johnson, to its board of directors as an independent member, effective September 30.

Do we think there will be another layoff round in March to line up with the RTO phase 2s?

I’ve heard could be two rounds and lots and lot of restructuring. Anyone heard the same?

I can already see how they have zero plan for transition. McKinsey pulled all the strings on what and how to cut and our feckless executives have zero plan on how work will continue. Why the F do we pay them over $200MM for this sh-t? Yes, over $200MM! Honestly, it’s a rinse a repeat from the last restructuring except much deeper. What a waste of money, time and our focus on bringing in revenue. Bell ends, tools and all that, etcetera, etcetera.

https://www.gamedeveloper.com/business/avalanche-confirms-layoffs-and-studio-closure-after-halting-contraband-development

Avalanche didn't mention Contraband or Microsoft when announcing its restructuring plan. The company simply stated it has been impacted by "challenges to our business and the industry."

In case people haven't noticed; this has been standard operating procedure for Imperial Oil Ltd. over the last at least 10 years, and for sure since their restructuring at FAP. Do more with less and if you buy-in we may allow you into our cliché (as they smile) and stick around to do double the work until the next time the knives come out.

Sad.......... Imperial Oil do better! When will the notification come out that Exxon has purchased the remaining 30.4% share of IOL, and then sells off the last of Imperials unwanted assets! To be continued............

Imperial just spent a ton of money on relocations, moving planners, operations leads, managers, etc to Calgary. They even moved the mine dispatch and control room to Calgary.

It has long been suspected that they have been trying to reduce headcount enough to sell Kearl (only two possible companies).

Do you think they are going to spend money to relocate a big chunk of people twice?

Plus they built QP nit all that long ago but now they are building another building at Strathcona?

I would bet money that once initial headcount reductions are done they are in a position to close on a pending sale of Kearl. Everyone there will be grateful their new employer isn’t moving them to Edmonton. They carry on with the plan and the company is even smaller.

Another domino is falling here. Logically something is missing or this is one of the worst played downsizing events in history.

PerkinElmer will permanently close manufacturing in Shelton on April 1, 2026, resulting in 68 layoffs, with the first phase impacting workers on Nov 24, 2025. Some non manufacturing roles will remain in Shelton, including R&D and support.

The company plans to relocate manufacturing. State and local officials have been notified per WARN requirements, and the Greater Valley Chamber confirmed the company is not leaving the city entirely.

• URL: https://patch.com/connecticut/shelton/major-company-plans-close-shelton-facility-layoffs-planned-warn-notice

• Companies and locations: PerkinElmer U.S. LLC - Shelton CT, Bridgeport Avenue facility, Connecticut Department of Labor

Nilfisk to close Brooklyn Park facility, 105 jobs affected

Cleaning equipment maker Nilfisk will shut its Brooklyn Park site in phases starting December 2025, eliminating about 105 positions by June 30, 2026. Some workers are represented by IAMAW Local 77, and non union staff have bumping rights.

Roles affected range from engineering to warehouse and production. The WARN notice outlines staged notifications and separations as the company consolidates operations.

• URL: https://patch.com/minnesota/maplegrove/twin-cities-manufacturer-closing-105-workers-lose-jobs

• Companies and locations: Nilfisk Inc. - Brooklyn Park MN, IAMAW Local 77 - Minnesota

Comcast plans job cuts in Connectivity and Platforms

Comcast is preparing layoffs across its broadband, mobile, and pay TV unit, removing a management layer between corporate and regional teams starting in January. Customer service and retail positions are reportedly exempt.

The shift follows broadband subscriber losses and prior reports of cuts at Sky in the United Kingdom. Analysts view the move as part of streamlining and standardizing pricing.

https://www.fierce-network.com/broadband/report-comcast-says-layoffs-are-looming-its-connectivity-biz

• Companies and locations: Comcast - Connectivity and Platforms segment, Sky - United Kingdom

Starbucks CTO exits as layoffs and tech shifts accelerate

Starbucks CTO Deb Hall Lefevre resigned without a permanent replacement as the Seattle based company proceeds with layoffs of around 900 nonretail workers and closures in the United States and Canada. Ningyu Chen, based in Atlanta, is interim CTO.

The company is retooling technology, including mobile ordering, POS, AI inventory, and store formats. Reuters reporting notes increased reliance on an outside IT contractor in India.

https://www.geekwire.com/2025/starbucks-cto-resigns-amid-layoffs-and-broader-tech-shakeup-at-seattle-coffee-giant/

20% headcount reduction (5000 to 4000) by YE27. Affects Upstream, Downstream, Corporate. Employees will found out by January 2026.

Sale of Calgary Quarry Park campus, tentative agreement in place

Relocate Calgary roles in 2028 to sites, predominantly Edmonton refinery.

Includes offshoring > 500 roles to Houston, and global business centers in India, Argentina, Bangkok

As much as the decline was evident in the past 10 years I never thought the once great Company would disappear altogether.

"Not on my watch" you know who you are.

Innovex completes sale of 6401 North Eldridge Pkwy facility in Houston, significantly reshaping operating footprint.

"We view this outcome as a powerful combination of financial strength and operational improvement, fully aligned with our strategy of maintaining a lean, flexible cost structure and a conservative balance sheet to capture opportunities across industry cycles.” Adam Anderson

XOM and Imperial Oil decide to divest Calgary-based non-core assets and restructure to stay competitive in a shifting regional and global energy market:

1- Calgary Quarry Park HQ: Sold to Brookfield, monetizing underutilized space. This mirrors Imperial’s real move to donate its former research centre and labs to SAIT, reinforcing a Calgary real estate pullback.

2- Corporate functions: Relocated to Edmonton, aligning headquarters with upstream operations.

3- Employee impact: Calgary staff offered relocation to operational or refinery sites, redeployment packages, or voluntary exits.

4- Cold Lake & Kearl: Continue to run as profitable oil sands assets, with upgrader units ensuring bitumen flows meet refinery specs. Over time, Imperial phases in project-level JVs with partners like Suncor and Cenovus on select expansions — sharing cost, technology, and risk without ceding full control.

5- Logistics & infrastructure (Midstream segment): Throughput and tariff agreements renegotiated with Enbridge and TC Energy, leveraging planned Mainline expansions and ~$2.5B Enbridge system upgrades. Rail partnerships with CN and CPKC improve flexibility to U.S. Gulf and Midwest markets.

6- Downstream operations:
Strathcona refinery (Edmonton) remains a central hub, now with renewable diesel capacity.
Sarnia refinery & chemical complex anchors the eastern market.
Nanticoke refinery complements Sarnia, strengthening Imperial’s Ontario downstream footprint.

Staff relocations tied into these downstream assets keep talent aligned with refining/chemical demand centers.

Check out the Imperial board this weekend. Those poor guys are worried. Looks like consolidation of employee in either Sarina or Edmonton. Calgary shutting down.

And next week huge layoffs in Europe except London where they released puff piece about doubling jobs there ahead of this.

Honestly we will never get to the 2 billion number by laying off a bunch of low level employees barely making 6 figures. I see a few big names leaving but hardly enough. We all know we are top heavy. Discouraging not many more have been announced.

1) shed deadweight
2) produce more runway to stave off bankruptcy
3) generate lift

We’re kinda at 2/2.5. The lift generation isn’t obvious yet.

There are rumors that DMOS5 and DFAB will become "one fab" but that's leaving a lot of us scratching our heads. Does this mean they will layoff at the fab manager, branch and section manager levels? What about supervisors and really - all of the org? How would it be possible to manage 3 factories combined (DMOS5 is 2 fabs already)? Sounds like a logistics nightmare.

Workforce reductions and acquisition exits come as IT demand softens; TCS also cut staff amid industry-wide caution earlier.

"The business optimization program has two parts. One related to rapid talent rotation that Julie mentioned, which reflects severance associated with headcount reductions that we are making in a compressed timeline, and second, related to the divestiture of two acquisitions that are no longer aligned with our strategic priorities," CFO Angie Park added.

https://www.moneycontrol.com/news/business/information-technology/layoffs-acquisition-pullbacks-slower-growth-accenture-hints-at-grim-picture-for-fy26-13580710.html

Acquisition Pullbacks:

Messaging: "didn't align with our strategic priorities"

"Accenture also announced plans to exit certain non-core businesses and divest assets worth $865 million as part of its ongoing portfolio optimization strategy. The move is aimed at reallocating resources toward higher-growth areas, particularly AI, digital services, and cloud-driven initiatives, enabling the company to streamline operations while strengthening its focus on emerging technologies."

Starbucks is planning to eliminate 900 roles and close several underperforming stores by the end of the year, chairman and CEO Brian Niccol said on Thursday, Sept. 25.

Niccol, who became CEO of the coffee chain in September 2024, wrote in a note to employees that the two major changes are being made as part of its $1 billion “Back to Starbucks” restructuring plan.

Niccol said the company had reviewed its portfolio of stores and “identified coffeehouses where we’re unable to create the physical environment our customers and partners expect, or where we don’t see a path to financial performance, and these locations will be closed.”

Employees in the shops scheduled to close will be notified this week, and the company will work to offer transfers to nearby stores, and for those that can't be moved, severance packages will be offered, Niccol said.

He said the company will end the year with nearly 18,300 total Starbucks locations across the U.S. and Canada, and that there are plans to grow the number of coffeehouses in 2026.

More than 1,000 locations will also be renovated to “introduce greater texture, warmth, and layered design” over the next 12 months, Niccol added.

Starbucks did not provide the exact number of locations closing, but said the company’s overall company-operated count in North America will decline by about 1% in the fiscal year 2025 after accounting for both openings and closures.

In addition to the closures, Niccol said the company would be eliminating about 900 “non-retail” roles and closing “many open positions.” The affected employees will be notified on Friday, Sept. 26, and severance packages will be offered, he said.

This is the second round of layoffs under Niccol, after 1,100 corporate workers were let go in February.

“I know these decisions impact our partners and their families, and we did not make them lightly,” Niccol said. “I believe these steps are necessary to build a better, stronger, and more resilient Starbucks that deepens its impact on the world and creates more opportunities for our partners, suppliers, and the communities we serve.”

Starbucks Workers United, a union representing 12,000 baristas across 45 states, said in a news release it was sending a formal request for information to Starbucks about the closures.

“We expect to engage in effects bargaining for every impacted union store, as we have done elsewhere, so workers can be placed in another Starbucks store according to their preferences,” the statement reads. “Fixing what’s broken at Starbucks isn’t possible without centering the people who engage with the company’s customers day in and day out.”