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  1. #1
    NostraSpurMus phxspurfan's Avatar
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    Wayfair cutting 3% of workforce, for "efficiency reasons"

    https://www.cnn.com/2020/02/13/busin...ock/index.html

    Shares of Wayfair fell 10% Thursday after the online retailer announced it will shed 550 jobs, which is 3% of its workforce.

    The company, based in Boston, said the move will help it lower costs.
    "We continually evaluate the needs of the business and work to increase efficiencies,"

    "Management is now much more constructively reviewing the company's business model and cost infrastructure," Oppenheimer analyst Brian Nagel wrote in a note to clients Thursday.

  2. #2
    NostraSpurMus phxspurfan's Avatar
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    Macy's will close 125 stores in the next three years
    https://www.cnn.com/2020/02/04/busin...res/index.html

    Macy's said Tuesday that it will close 125 stores over the next three years, nearly one fifth of its total locations, in another blow to American department stores.

    Macy's will look to exit some struggling malls, where foot traffic has slowed. It will also cut roughly 2,000 jobs, or 10% of its corporate staff, and shut down its offices in Cincinnati and San Francisco. Macy's (M) expects to save $1.5 billion by the end of 2022 from the cost-cutting measures.

  3. #3
    NostraSpurMus phxspurfan's Avatar
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    Lyft is laying off 90 employees as it struggles to become profitable

    https://www.theverge.com/2020/1/29/2...-restructuring

    Lyft announced a round of staff cuts amid questions about the company’s ability to stem its enormous losses and show how it can achieve profitability. The company is laying off about 90 employees, or around 1.6 percent of its 5,500-person workforce. The layoffs were first reported by The New York Times — though Lyft denied that it was part of a broader corporate restructuring, as originally reported by the Times.

    The layoffs will affect Lyft’s marketing and enterprise sales departments

  4. #4
    俺はマンコが大好きだ baseline bum's Avatar
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    Wayfair cutting 3% of workforce, for "efficiency reasons"

    https://www.cnn.com/2020/02/13/busin...ock/index.html

    Shares of Wayfair fell 10% Thursday after the online retailer announced it will shed 550 jobs, which is 3% of its workforce.

    The company, based in Boston, said the move will help it lower costs.
    "We continually evaluate the needs of the business and work to increase efficiencies,"

    "Management is now much more constructively reviewing the company's business model and cost infrastructure," Oppenheimer analyst Brian Nagel wrote in a note to clients Thursday.
    Wayfair, I hope they go under after sticking us with effectively a national sales tax on online purchases.

  5. #5
    NostraSpurMus phxspurfan's Avatar
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    VMware? VM... now where? It's that time of the year again when Dell's virtualization software giant sheds staff

    https://www.theregister.co.uk/2020/0...ffs_confirmed/

    VMware today laid off staff across the globe in various roles and departments.

    The virtualization software giant would not put an exact number on those affected in what seems like an annual round of layoffs: it tends to trim its workforce around this time of the year.

    Some folks have suggested at least 220 workers were axed, a figure the biz did not dispute

  6. #6
    NostraSpurMus phxspurfan's Avatar
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    WeWork Will Lay Off 2,400 Workers

    https://www.cnbc.com/2019/11/18/wewo...g-efforts.html

    WeWork is preparing to cut at least 4,000 jobs in a bid to achieve financial stability and those layoffs could be announced as early as this week, the New York Times reported.
    As many as 6,000 employees could ultimately be laid off, one person told the Times.
    In a memo to employees, WeWork Chairman Marcelo Claure confirmed layoffs were coming this week, but did not say how many.
    Last week, WeWork told investors it lost $1.25 billion on revenue of $934 million in the third quarter — losses were up more than 150% from the same period a year ago.

  7. #7
    NostraSpurMus phxspurfan's Avatar
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    Vox Media Layoffs: Hundreds Of Freelance Workers Cut Ahead Of California’s New Gig Economy Law

    https://www.ibtimes.com/vox-media-la...conomy-2887254

    “This is a bittersweet note of thanks to our California independent contractors. In 2020, we will move California’s team blogs from our established system with hundreds of contractors to a new one run by a team of new SB Nation employees.”

  8. #8
    NostraSpurMus phxspurfan's Avatar
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    Boeing's fired CEO got his $62 million payout confirmed the same day 2,800 people in the 737 Max supply chain were laid off

    https://www.businessinsider.com/boei...layoffs-2020-1

    Dennis Muilenburg, the recently-ousted CEO of Boeing, is leaving with a $62 million payout, the company said Friday.
    The substantial award comes despite being fired for poor handling of the fatal crashes, aftermath, and continued suspension from service of the 737 Max.
    Also on Friday other workers lost their jobs because of the 737 Max: 2,800 employees of Boeing supplier Spirit AeroSystems.
    Spirit said the workers had to go because there was no work for them in light of Boeing suspending production of the 737 Max while it is grounded.
    Unlike Muilenburg, they did not get large exit packages, and will instead receive 60 days' pay.

  9. #9
    NostraSpurMus phxspurfan's Avatar
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    Xilinx to cut 7 percent of its workforce

    https://www.bizjournals.com/sanjose/...s-layoffs.html

    Chipmaker Xilinx Inc. is making plans to cut 7 percent of its total workforce — about 300 jobs — after it released a disappointing quarterly report on Tuesday.

    The Wall Street Journal reports that San Jose-based Xilinx blames its losses on what it calls a “perfect storm” that involves a slowdown in 5G investments and the U.S.-China trade war affecting business with Huawei Technologies Co. It plans to make about $20 million in cost cuts this quarter.

  10. #10
    NostraSpurMus phxspurfan's Avatar
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    Kohl's to cut about 250 positions in corporate restructuring

    https://www.usatoday.com/story/money...ng/4741643002/

    Kohl's is eliminating about 250 positions in a company restructuring that the retailer said will improve efficiency.

    The eliminated positions are across the organization at the corporate level, Kohl's Senior Vice President of Communications Jen Johnson said in a statement Wednesday.

    The reductions affect workers at the Menomonee Falls, Wisconsin, headquarters; offices in New York and California; and in other regional positions.

    "The departures include removing a layer of regional store leadership roles and positions, restructuring teams in our merchant organization and changes to other positions in our corporate offices," Johnson said.

  11. #11
    Happy New Decade! Millennial_Messiah's Avatar
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    I need a recession tbh. Will finally sink house prices at long last, maybe not back to 2009 but close enough for me to take advantage. Also, it won't affect the tech sector much if at all, so my jobs are safe.

  12. #12
    NostraSpurMus phxspurfan's Avatar
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    Morgan Stanley is latest bank making layoffs; others to follow?

    https://www.wraltechwire.com/2019/12...ers-to-follow/

    Morgan Stanley is cutting approximately 1,500 jobs because of concerns about economic uncertainty around the world, a person familiar with the matter told CNN Business.

    The job cuts represent more than 2% of the bank’s workforce, which totaled 60,532 at the end of September. The layoffs will skew towards technology and operations roles, the source said.

    The flurry of pink slips comes as Wall Street firms face pressure to restrain spending to offset a challenging environment of low interest rates, slow economic growth and vanishing volatility in financial markets. And it comes as traditional bank jobs are being disrupted by artificial intelligence and other new technologies.

    Morgan Stanley’s compensation expenses crept higher during the third quarter even as revenue was sluggish.

    “We remain committed to controlling our expenses,” CEO James Gorman said at the time.

  13. #13
    NostraSpurMus phxspurfan's Avatar
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    I need a recession tbh. Will finally sink house prices at long last, maybe not back to 2009 but close enough for me to take advantage. Also, it won't affect the tech sector much if at all, so my jobs are safe.
    s coming, bruh.


    not 2008 bad doe

  14. #14
    Happy New Decade! Millennial_Messiah's Avatar
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    s coming, bruh.


    not 2008 bad doe
    good. gimme that $1.49 gas all year and 30%+ off current home prices. and more like 70% off those "fixer uppers". Five dollar footlongs, 55-cent burgers from Jack in the Box. Gimme that life back

  15. #15
    Veteran DMC's Avatar
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    Boeing's fired CEO got his $62 million payout confirmed the same day 2,800 people in the 737 Max supply chain were laid off

    https://www.businessinsider.com/boei...layoffs-2020-1

    Dennis Muilenburg, the recently-ousted CEO of Boeing, is leaving with a $62 million payout, the company said Friday.
    The substantial award comes despite being fired for poor handling of the fatal crashes, aftermath, and continued suspension from service of the 737 Max.
    Also on Friday other workers lost their jobs because of the 737 Max: 2,800 employees of Boeing supplier Spirit AeroSystems.
    Spirit said the workers had to go because there was no work for them in light of Boeing suspending production of the 737 Max while it is grounded.
    Unlike Muilenburg, they did not get large exit packages, and will instead receive 60 days' pay.
    You'd almost think it's good to strive to be a CEO instead of an entry level employee for 27 years.

  16. #16
    NostraSpurMus phxspurfan's Avatar
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    These were the big ones I have noticed recently. Could have missed a few (esp. retailers -- Forever 21, etc. -- but everyone knows retail is generally in trouble regardless of the cycle, due to business model). More are probably coming after Q2 earnings season, once companies start to blame Corona Lite for their problems.

  17. #17
    NostraSpurMus phxspurfan's Avatar
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    good. gimme that $1.49 gas all year and 30%+ off current home prices. and more like 70% off those "fixer uppers". Five dollar footlongs, 55-cent burgers from Jack in the Box. Gimme that life back
    Unlike 2008, people see this one coming and have cash saved. You'll likely be facing stiff compe ion for the distressed inventory from the savers. Also from all the people like me who saw all their friends get rich by going all in on houses last crash. It may be time to get that side realtor license

  18. #18
    Make Spurs Great Again
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    You can pull these stories every single year in the past and every single year going forward.

  19. #19
    Happy New Decade! Millennial_Messiah's Avatar
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    Unlike 2008, people see this one coming and have cash saved. You'll likely be facing stiff compe ion for the distressed inventory from the savers. Also from all the people like me who saw all their friends get rich by going all in on houses last crash. It may be time to get that side realtor license
    Realtor license is no good because it doesn't travel state to state. I'd never want my career to be married to any specific state.

    I was 14 in 2008 and my mom worked public sector (teaching; grandmother was also a retired teacher and got Texas TRS money from that) so it didn't affect us one bit.

    this will be my first chance as an adult, I desperately need an opportunity to get rich.. I have over $250 saved so I should be in the driver's seat

  20. #20
    NostraSpurMus phxspurfan's Avatar
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    Intel to lay off Bay Area employees, despite growth in data center business

    https://www.sfchronicle.com/business...e-15054307.php

    Computing giant Intel will lay off 129 workers at four company locations in Santa Clara, where it has its headquarters, according to filings with the California Employment Development Department.

    The filings said the layoffs will officially take place March 31, although in many cases employees lose their jobs sooner.

    “As we move into 2020, our business units are focusing their resources on areas where we have the greatest opportunity for growth and, as part of that, some are planning to eliminate roles associated with projects that are no longer priorities,”

  21. #21
    NostraSpurMus phxspurfan's Avatar
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    Google Tells Hardware Division Staff To Find New Jobs

    https://sfist.com/2019/03/13/google-...n-non-layoffs/

    Google/Alphabet is having some non-layoff layoffs in its Create division, reportedly telling "dozens" of people on the laptop and tablet teams to "find new jobs" within the company as part of some "roadmap cutbacks."

  22. #22
    NostraSpurMus phxspurfan's Avatar
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    Cisco Layoffs: Nearly 500 Jobs Cut In California

    https://www.crn.com/news/networking/...-in-california

    Cisco Systems has laid off more than 480 employees at the networking giant's San Jose and Milpitas offices in California, marking another period of major layoffs for the company within the last 12 months.

    The company cut 397 jobs at its headquarters in San Jose and another 91 in Milpitas, which were effective July 31, according to WARN notices received by the state of California's Employment Development Division last Friday.

    This is the second time significant layoffs have hit Cisco's offices in San Jose and Milpitas in the last 12 months after the company cut 460 jobs last November.

  23. #23
    NostraSpurMus phxspurfan's Avatar
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    You'll know recession is here (lagging indicator) when the layoffs hit the Top 10 Largest Employers in the USA

    https://www.backgroundchecks.com/com...ers-in-the-USA

    1. WalMart (2.3 Million)
    2. Amazon (542,000)
    3. Kroger (420,000)
    4. Yum! Brands (420,000) (KFC, Pizza Hut, etc.)
    5. Home Depot (406,000)
    6. IBM (380,000)
    7. McDonald's (370,000)
    8. Berkshire Hathaway (360,000)
    9. FedEx (335,000)
    10. UPS (335,000)

  24. #24
    Prince of Whales RandomGuy's Avatar
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    good. gimme that $1.49 gas all year and 30%+ off current home prices. and more like 70% off those "fixer uppers". Five dollar footlongs, 55-cent burgers from Jack in the Box. Gimme that life back
    Next recession will probably not be as bad as 2009.

    Gonna be a slow, rolling stop, and even more people will be without health insurance, unless something like Medicare for all passes.

  25. #25
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    unless something like Medicare for all passes.
    ... never gonna pass, EVER. The Repugs and the Dem e$tabli$hment are paid to block it.

    A huge majority of people want it, but in USA, the oligarchy's "vote" counts, not the ignored people's vote.

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