#costcutting

Has anyone heard any rumors related to 2025 bonus pool? There are a ton of meetings related to reductions of budgets, almost like a last minute scramble to cut costs. Maybe we should have subleased Frisco and ramped up remote work?

#1 - No severance if you’re fired for cause
# 2 - save money on payroll
# 3 - give them COBRA, but they will pay unsubsidized premiums for health insurance

I am thinking that all functions will be outsourced except those that are required to keep the network running and some bean counters. Eliminate overhead by eliminating headcount, make all stores reseller locations, no inventory carrying costs (already in progress), shut down real estate, outsource wireline techs, eliminate internals sales and offer a commission based structure to external companies selling on our network. Oh, and free up billions by not being involved in Formula 1, which is only around because Lowell liked race cars and execs like the VIP treatment at races around the world.

This is not going to be a regular rearrangement of deck chairs, something big is coming and I imagine it is not specific to VZ. Other Telco's will need to do the same thing as the wireless bo-m is over and our industry is now nothing more than people jumping from provider to provider to get free phones when their contract is up.

I have noticed that paying for the balance of remaining days off is something that they do not like
If you remember there was a strange shutdown in the middle of the year that they forced on us before doing that monster LR like an year ago.

It is highly probable that they will again do it in Jan/Fen and not in Nov.
Any thoughts ?

Want to save money? Get rid of the waste of time operation’s manager. He’s been working there for 35 plus years and a large salary. Xerox you are paying a director for doing absolutely nothing!
( except to make sure the North facility is being taken care of “)

The company appears to be cutting costs by encouraging resignations or creating performance-based grounds for termination, such as enforcing a four-day office attendance policy. Profitability challenges, particularly in the Optum business due to CMS V28 changes, are straining finances. Heavy investments in AI are unlikely to yield short-term returns, if any. Meanwhile, executive perks—luxury travel, corporate jets, security, double-digit raises, and millions in stock options—remain untouched. Instead, the company is pressuring its most vulnerable employees. This is a textbook case of mismanagement driving a company into the ground. Leadership is dominated by yes-men and yes-women, with dissenting voices pushed out. If you have alternatives, consider leaving this toxic environment. If not, make the best of your situation and be grateful to still have a job.

Well said, @2rc+1k6jmpfts.

How’s the increased dependence on offshoring technical and administrative positions working out for bp? Please share positive and negative impacts to corporate efficiency and profits.

FIS LOST A WHOLE DEPARTMENT BECAUSE OF HOW BADLY CS WAS LED. The client wants to do it themselves again. THIS IS CRAZY! The investors can feel the cost cutting as well when interacting with this company, the cs line must be awesome xD

ExxonMobil is trying to reduce OpEx by reducing number of engineers in North America (USA and Canada) and offshoring the jobs to cheaper countries like India.

But is it really working? I see BTC folks come here, work for some time in North America, and then go back to India and quit. They go to a competing company at a higher salary. All the time spent training them in North America is wasted.

How does that make sense from cost reduction perspective? And how will all the technical knowledge be retained??

….reposting a thread that was deleted for no reason…..

Shell is trying to reduce OpEx by reducing number of engineers in North America (USA and Canada) and offshoring the jobs to cheaper countries like India.

But is it really working? I see TAO folks come here, work for some time in North America, and then go back to India and quit. They go to a competing company at a higher salary.

How does that make sense from cost reduction perspective? And how will all the technical knowledge be retained??

Your attention, please! Very important. Tremendous discipline ahead.

Prepared for: Compensation & HR Committee
Date: October 2025
Subject: Proposal to Adjust Executive Benefits to Support 2026 Cost-Discipline Goals

Executive Summary

As the company advances toward its 2026 cost-reduction and efficiency targets, aligning executive compensation practices with these objectives will reinforce fiscal discipline, improve shareholder perception, and strengthen internal morale.
By modestly reducing discretionary executive benefits and tightening incentive structures, the organization can achieve both direct cost savings and stronger credibility in cost-management communications.

Implementation Path

1.  Amend the 2025–2026 LTIP design to weight free cash flow per BOE and cash return on capital employed (CROCE) more heavily than TSR.
2.  Revisit perquisite policies for NEOs (aircraft use, club dues, financial counseling).
3.  Announce executive pay moderation internally concurrent with cost-optimization updates to reinforce shared responsibility.
4.  Frame public disclosures to highlight “leadership alignment with shareholder discipline.”

Proposed Adjustments to Executive Compensation (2025–2026)
• Reduce “All Other Compensation” by 50% (≈ $0.26 million)
→ Symbolic alignment with workforce austerity.
• Cap annual incentive payouts at 80% of target for 2025–2026
→ Estimated savings of $3–4 million.
→ Reinforces a direct tie between cost efficiency and reward.
• Suspend deferred compensation match and non-core perquisites
→ Estimated savings of $1 million.
→ Immediate cost savings; signals fiscal discipline.
• Freeze CEO and NEO base salaries for 24 months
→ Estimated savings of $0.2 million.
→ Visible commitment to cost control and leadership accountability.
• Replace 25% of RSU grants with performance shares linked to Free Cash Flow per BOE (FCF/BOE)
→ Cost neutral over time.
→ Strengthens long-term shareholder alignment without increasing expense.

Total projected direct savings: approximately $5–6 million annually, with significant reputational and cultural benefits.

How in the world is ATC still open? It is nothing but a financial burden in a time when we are trying to cut money from everything. How much money could be saved by shutting this useless money put down.

Nothing of use has come from this place, except for expensive lunches and events. People bi--h about us being remote but don't care that this place is draining money from Nike.

I need somebody to confirm the specific type of visa we are using to bring people over from KLTC and BTC. After the recent layoff announcements I think it’s high time for employees to go on defense. Based on my own research I think there is a credible case to be made the company is violating the intent of the visas being granted. If so, it’s time for employees to start leaving anonymous tips to several government offices who could investigate (USCIS, Homeland Security Investigations, Dept of Labor inspector general). More on that later. I need somebody with SPECIFIC knowledge of how we are bringing people over to comment.

Here’s the situation I have observed for years now: employees from our overseas technical centers come to U.S. manufacturing sites for 1–2-year assignments. They’ve typically worked for the company abroad for a couple of years in process or technical support roles, then rotate into our entry-level plant engineer jobs here.

The company says this is part of a rotation program to build knowledge, but these engineers seem to be doing the same daily production-support work as U.S. college-hire engineers — not managing people or bringing unique proprietary technology. Many of these sites now have at least one rotational engineer on staff at any given time, which could give the impression this is not about training, but instead a cost reduction program. Paired with decreasing headcount at the same sites, it might give the impression these visas are being used to promote offshoring.

Does that kind of role meet the L-1A or L-1B definition? From what I’ve read, L-1A is for managers/executives and L-1B for specialized knowledge. What type of visa are these ex pats?

Would this typically be considered valid use of the L-1 category?

BNYM has been saying they ‘need’ to layoff employees to cut costs for several Years now. How is this still a valid/acceptable statement???
I’d LOVE to see the financial records supporting BNYMs stance to continuously layoff employees, yet have thousand of open Career Opportunities available. It is costly to hire new employees, and layoffs create a fear based environment. Why isn’t BNYM committed to Develop and Retain employees???

Better tighten those seatbelts folks, because sudden CFO exit is always a red flag for costs and strategy changes. CFO departures always raise questions about future capital plans, which may pressure management to cut costs, restructure teams, or slow projects that affect jobs. In other words, we're sc--wed. This will especially affect those in finance, project controls, or field roles, so make sure you prepare for the worst.

From the Freep:
For the first time ever, Ford to sell a car from its private vault to the public
Ford Motor Co. is opening its private vault of vehicles, for the first time ever, to sell a rare supercar to the public at auction.

The plan is to use all of the money raised from the auction of the car to renovate and maintain the other vehicles in Ford's Heritage Fleet as well as prepare its GT collection in England for Le Mans next year. Also, Ford said this may be the first of other cars in the fleet to be offered to the public for purchase, the automaker said on Oct. 13.

https://www.freep.com/story/money/cars/ford/2025/10/13/ford-motor-private-vault-sale-ford-heritage-edition-gt/86672990007/

The geniuses leading us led to this:

Auditing firm BDO USA has conducted layoffs and suspended non essential travel to cut costs while managing a $1.3 billion ESOP related loan from Apollo Global Management.

Bloomberg reporting cited by Yahoo Finance says the roughly 9 percent interest debt, reduced by 100 basis points after a June 30 refinancing, is pressuring multiple departments including tax, audit, and advisory. BDO declined comment on client matters.

The firm also faces scrutiny from a proposed ESOP class action alleging workers overpaid to join the plan, and reputational fallout from First Brands Group’s bankruptcy after BDO provided a clean audit opinion.

Despite headwinds, a source said the firm remains financially stable and continues to optimize operations. BDO reported $2.89 billion in revenue for the year ended December 31 and in September announced plans to hire more than 1,300 people from HORNE.

BDO USA - Chicago IL

https://finance.yahoo.com/news/bdo-usa-lays-off-employees-100153492.html

iHeart has begun its annual fall layoffs amid a broader push for profitability, with speculation of hundreds of cuts nationwide. In Los Angeles, KFI 640 AM let go evening host Morris W. O’Kelly minus Mo’Kelly minus his producer Tawala Sharp, imaging director Clay Roe, and Real 92.3’s overnight host Chuck Dizzle. The moves come as KFI’s ratings have softened and the station adapts after leadership changes and newsroom cuts, though KFI still tied for 14th in the market in September.

CEO Bob Pittman’s 2024 compensation drew criticism in the piece, alongside a noted 46 percent staff reduction over 10 years across the company. Separate from the layoffs, a lawsuit filed by former Alt 98.7 morning co host Renae Ravey alleges age discrimination against show host Jeff Fife minus Woody minus which iHeart and Fife have not commented on.

iHeartMedia - Los Angeles CA -

https://www.ocregister.com/2025/10/13/radio-station-layoffs-add-to-the-chill-in-the-autumn-air/

https://www.reddit.com/r/IBM/comments/1o4xtrr/managers_are_forced_to_lay_off_good_people/

"I’ve been in meetings with very senior leaders and they are hunting through the ranks of B9-10 and D to find folks to let go to make room for higher bands in India."

It has taken awhile to get my mind around this, but the old model of Optum being able to hire a set of onshore engineers or analysts and throw millions at that is permanently over. Wall Street no longer trusts UNH, and for a long time despite very opaque reports on how money was made we plowed through with various revenue claims that any normal company would have been called out on. That’s over-no more moving money from UNH to Optum and calling it revenue, no more selling off groups then buying them back, no more projects that may be profitable someday. There are no more games to play. If a group isn’t profitable now, there’s zero chance it’s going to be added to, and will probably be cut. Bonuses are going to go towards zero, whatever was left of the country club is going away. If you hear you will hire more people someday, don’t count on it. The layers of managers who spend days building PowerPoint for other managers are next for the cut-if you’re not delivering to bottom line, find a way to.

to reduce pay levels & boost profits all firms using AI scare mongering. Long way to go before is reliable

To effectively control and reduce operational expenses (OPEX), companies can implement the following strategies:

Conduct Comprehensive Spend Assessments: Analyze spending patterns and cost centers to identify areas for cost reduction.

Utilize Data-Driven Insights: Implement advanced analytics tools to gain actionable insights and benchmarks for cost-saving strategies.

Negotiate Better Terms: Regularly evaluate vendor contracts and negotiate better terms with suppliers to secure volume discounts.

Strengthen Supplier Relationships: Build and maintain strong relationships with key suppliers to enhance collaboration and mutual cost-saving goals.

Develop Category-Specific Strategies: Create tailored strategies for high-impact categories, focusing on cost drivers and market conditions.

Optimize Across Categories: Identify synergies across different categories to leverage buying power and reduce costs on a holistic level.

Implement Procurement Technology: Adopt e-procurement platforms and spend analysis tools to streamline processes and enhance cost control.

By applying these strategies, companies can not only control their OPEX but also drive value and ensure long-term sustainability.

https://www.golimelight.com/blog/opex-planning

Please don’t get lulled into a false sense of security thinking this is over. The sad fact is that we no longer have job security. It doesn’t matter how long any of us have been here or how much value we bring every day. All that matters is that they want to keep cutting costs, and if the numbers fit, you’re gone.

All that's been happening are random cost-cutting and chaos. I honestly don't see much of a future here anymore.

Heard that’s the path forward, and it makes sense. Combine operations, leadership. Cut many many many many heads. Sure, it will rough for a while, but it’s all about the immediate savings. No one cares about 3 years from now, only the next qtr and the current gap to solve for. Painful decisions are what random new CEOs are all about.

Also, no more value! Redundant operations. It’s all consumer and business, all customer. We don’t need 10 different marketing teams, just one.

IT has so many departments and similar functions. IT is a service, why not eliminate most of them by contractors and real IT companies. So many IT workers looking for work with AI so the pay and market availability is now a great time to lower our cost.

1. Cost Savings
2. Access to Expertise and Technology
3. Focus on Core Business
4. Scalability and Flexibility
   5 24/7 Support and Reliability
5. Risk Management

Keep the chemical engineers and people in the field paid well. They are out in refineries and terminals in harsh conditions. Why pay them the same?
Most of them are useless and over paid and couldn’t get another job in the market.
John Deere man look into IT please!!!!!!
So many Losers!!!!

I am told verbally, that in my area this cannot now happen owing to 'costs' and saudization. Even after 6 years in the same Grade Code... Anyone have any news I am missing out on, or should I get that resignation letter sent asap?

I was a case manager for IOL 2020 layoffs, long since left. My tips for yall trying to survive:

1.) Mobility, max
2.) High Performers with salaries ABOVE grade not necessarily safe with intent being cost cutting.
3.) Experienced hires, good luck.

Today, my manager informed me that I’m part of the next round of actions, as my role is affected by the organizational health measures set by McKinsey. My team is being reassigned to different functional lines, and my manager mentioned that the RIF notification date is scheduled for 11/19. It appears that McKinsey’s recommendations are driving how our business is structured and managed, with decisions being made based on a set of data rather than the real work being done.

Word on the street is that new CAO Scot Rogers summoned ALL VP+ roles from around the world to Possible LA this week. Everyone VP and above. Seriously? Why? Most of those people have zero to do with sales or customers. That's a TON of expense for a company that is underperforming at epic levels and laying off really good people every few months. Has anyone at the top even looked at the stock price recently? TD is being SO poorly managed. Why hasn't the Board fired Steve McMillan yet? He's clearly incapable of steering the ship around the giant iceberg directly in front of him.

All software and IT teams who are more contractually required to be US based will be required to be at 70 pct offshore. No rehired in US until achieved and R required otherwise.

I was told by our manager a reorg is comming by the end of the year. We were told some of us were moving to another site. This reorg is supposed to cut costs by reducing redundant positions. There is no talk of layoffs but movement of personnel to optimize operations. I believe it is another way of forcing more employees to leave or retire. I will retire instead of changing positions.

Next cost cut will be the end of flights and camps at Kearl.

Relocation to FTM or severance!

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.

I'll go first:

1. Cut Costs
2. Cut Thick Mgmt Layers
3. Build Alliances

It’s purely cost reduction. That’s why we’ve been losing so many veterans, experienced, and competent people. It’s always about the bottom line. It has nothing to do with dedication, creativity, resourcefulness, or hard work. Being a valuable contributor has become more of a burden than an advantage. Quality comes with a high price tag.

This has to mean more layoffs are coming right?

Sometimes, the truth is stranger than fiction.

How, such a large group of inept middle and upper management can congregate in one place and conspire to hollow out the will to live of so many valuable employees across the globe, is a miracle to behold.

One bad decision follows another, and another and another. Cutting costs of everything to the point where services cannot be effectively provided to customers, while barking on about what a powerhouse they are and how it's all going to change with the reinvention. Which actually means outsourcing everything to the cheapest bidder and it now not working correctly.

Diversity and inclusion are pushed and sold to employees every day, yet all that is encountered is segregation, exclusion and discrimination unless you are in the club. Speak up for what's right and the ranks are closed and the fairy tales rehearsed with the useless, non-existing support network for employees, who are in management's back pocket.

CEO club is over, and so is your honeymoon.

This is so asinine and an obvious employee dissatisfier that could it be they are doing it to push people over the top so they leave themselves? A lot less to pay in severance. I just can't imagine anyone making that decision on something that shouldn't cost the company that much. It's got to be strategic decision.

Office Rent field staff work from home save $10m per annum Close 30 region office spaces
Investment Advice 401k/403b accounts. charge 50 bps. Raise $15m per annum
Surrender\mva Implement raise $10m per yr
CIT switch to CIT in K plans. Save $10m annually
IT/call center farm out 75% to India, Phllipines, and Romania savings of $15m
early retirement buyouts save $10m
eliminate special 3 yr vesting shares for execs cost savings $10M
can field exec vp $1m saved
senior vp & above comp cut to save $5m per An-us
Eliminate anthem&cvs racketeering save $10m per an-us
cap management sell/farm out use seeking alpha, chaiken alalytics, and AI Quant exclusively to save $10 m per pen-is
1 ply toilet paper* use 1 ply toilet paper to save $12,500 per yr

do all of this sch-it and the comp-any will turn key profit yr after yr. what are u eating for.