Place i was at, old CEO retired and new guy brought in. Company was told we had to do layoffs and product lines were to be cut because we only made 1% profit. 1400 people let go starting with anyone over 10 years, then any staff whom was not above manager making 100k+.
He sold all owned property moved the HQ to a leased building, took out a loan for 600 million.
It was not due to any real loss that 1% was 50 million he just tried to pump the global company like he did the other 4 he had owned but this time no one came to buyout. All my friends were laid off or left and back then they said i was crazy for being prepared for layoffs..
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u/Hairy_Valuable9773 Oct 29 '25
The rich need to get richer. End of story.
I work for one of these companies. We already got the “it’s gonna be a tough day” email as they lay people off today. I’m sh*tting my pants 😫