AM I NEXT? NO LOVE AT LIONSGATE

Stephen Levine November 9, 2020

Am I Next? Layoffs at Lionsgate Entertainment.

Santa Monica, California-based Lionsgate Entertainment Corporation, a mid-range entertainment company and a producer of feature films, has announced a 15% reduction in force in its motion picture group. Approximately 68 employees have been targeted for layoffs. This follows the 20 layoffs in March 2020, that occurred in the feature film marketing and distribution department

A company spokesperson noted, “While our business remains fundamentally strong, we are not immune to the ongoing COVID crisis that is impacting us like so many other studios. These demands on our business necessitate that we accelerate changes to our own operations and strategic plan. And today, in order to meet the challenges and opportunities in front of us, we begin the implementation of a reorganization of the Motion Picture Group around four globally integrated verticals. This means that individuals across the MPG will be impacted as groups are being combined, and new roles have been defined or eliminated as part of this process.”

“As a leader whose first priority is ‘A Best Place to Work,’ it is with a heavy heart that I tell you as part of the changes to our operational structure, we will be saying goodbye to a number of our colleagues, friends and co-workers today. These decisions are not a reflection of their immense talent, the quality of their work, or the meaningful contributions they have made at our company. We recognize that this is a challenging moment in our industry, and to provide as much support as we can to those colleagues leaving us, we are making enhancements to our separation policy in a number of areas including healthcare, job support and severance.”

Change is coming. There will always be a tomorrow, no matter how much you may try to ignore it. There are no guarantees in life or promises for a bright future. Just because something bad hasn't happened yet, doesn't mean it won't. It can happen to anyone, anytime, anywhere. No one is guaranteed to wake up tomorrow and still have a job by evening. Are you now wondering, Am I Next?

AM I NEXT? NO LOVE AT JOHNSON CONTROLS (02/19/21)

Stephen Levine August 21, 2018

Am I Next? Johnson Controls; Layoffs, Asset Sale

FEBRUARY 19, 2021 — PLANT CLOSURE AND 200 LAYOFFS IN CARROLLTON, TEXAS

The company has announced that it will be closing its Ruskin Rooftop Systems HVAC plant located in Carrollton, Texas by the end of September 2021. The closure will affect 200 employees.

According to a company spokesperson, “We appreciate the great contributions our employees have made in serving many customers over the years. However, recent business conditions have changed production demand for Carrollton’s products, resulting in the decision to consolidate its operations and maximize our current equipment capacity elsewhere, including other Ruskin facilities.”

AUGUST 21, 2018 — Original post…

Johnson Controls, formerly headquartered in Glendale, Wisconsin, and now headquartered in Cork, Ireland, has noted that its restructuring plans for 2016-2018 were based on a reduction-in-force of 9,200 employees, with 4,300 having already been separated from the company as of June 30, 2018.

According to its quarterly report for the period ending June 30, 2018…

“The Company's fiscal 2018, 2017 and 2016 restructuring plans included workforce reductions of approximately 9,200 employees ( 7,300 for the Building Technologies & Solutions business, 1,700 for Corporate and 200 for Power Solutions). Restructuring charges associated with employee severance and termination benefits are paid over the severance period granted to each employee or on a lump sum basis in accordance with individual severance agreements.
As of June 30, 2018, approximately 4,300 of the employees have been separated from the Company pursuant to the restructuring plans. In addition, the restructuring plans included eleven plant closures in the Building Technologies & Solutions business. As of June 30, 2018, six of the eleven plants have been closed.”

“Company management closely monitors its overall cost structure and continually analyzes each of its businesses for opportunities to consolidate current operations, improve operating efficiencies and locate facilities in close proximity to customers. This ongoing analysis includes a review of its manufacturing, engineering and purchasing operations, as well as the overall global footprint for all its businesses.”

Bloomberg has reported that Johnson Controls will be selling its Power Solutions business to a private equity firm for as much as $12 billion dollars. All four of the finalist bidders have experience with cost containment, asset divestiture, and employee layoffs.

NO LOVE AT SUNPOWER SOLAR (08/12/24)

Stephen Levine March 8, 2018

AUGUST 12, 2024 — BANKRUPTCY!

SunPower has filed for Chapter 11 bankruptcy after announcing plans to sell portions of its operations to Complete Solaria for $45 million. The company aims to sell its existing operations and assets as quickly as possible to pay down its outstanding debts, then it plans to wind down any unsold business operations.

AUGUST 3, 2024 — BRINK OF BANKRUPTCY?

As part of a company-wide restructuring, the company has announced plans to lay off as many as 290 California workers, including 182 employees at the company’s Richmond headquarters. Up to 20 are threatened in Berkeley, 19 in North Hollywood, 18 in Ontario, 16 in Elk Grove, 13 in Santee, and 11 each in San Jose and Anaheim.

A company spokesperson noted, “As a result of recent financial circumstances, the Company expects it will have to terminate the employment of certain employees.”

APRIL 26, 2024 — REORGANIZATION WITH 1,000+ LAYOFFS

The company announced that it will close its SunPower Residential Installation facilities and SunPower Direct sales unit.

Approximately 1,000+ employees are targeted for layoffs as the company repositions toward third-party sales.

According to Principal Executive Officer Tom Werner…

Team,
I’m writing to share difficult news with you as we implement changes across our organization in the days and weeks to come. To position SunPower for the future, we need to achieve financial viability, which includes simplifying our business structure, transitioning away from areas where we have been unable to sustain profitable operations, and improving financial controls.
As such, we are moving to a low fixed-cost model that we believe we will be able to better flex when the market is up or down. Specifically, we are winding down our SunPower Residential Installation (SPRI) locations and closing SunPower Direct sales. We are also reducing our workforce to better align our business with our new focus. With this shift, we will reduce our workforce by approximately 1,000 people in the coming days and weeks.
While we worked hard to avoid this outcome, the market has been slower to recover than we initially expected. Additionally, we have dedicated resources to improving our financial controls, and will continue to do so. We believe this shift in our strategy is necessary to safeguard the company’s future.
What this means for you
We will inform those of you who are impacted via your personal emails starting at 6:15am PT via an email from AskHR. In some cases, we will host subsequent team meetings to provide more clarity on next steps and what’s ahead.
Some of our impacted team members will depart today, and others will remain on with us for a period of time to help facilitate the transition for our customers. For those talented and devoted colleagues who are departing, we are deeply grateful for your lasting contributions. We are offering a competitive separation package to assist our former colleagues in their transition.
For those staying at SunPower, we recognize this is hard news to receive and will take some time to process. Your ELT members will meet with you today, and we will host an all-employee meeting later this week to provide time for more discussion and questions.
Our path ahead
Through these transitions, we remain committed to delivering high-quality, affordable clean energy systems that meet the unique needs of families across the country. We are dedicated to doing this in a manner that aims to ensure a positive experience for our customers on their solar journey.
After a short transition period, all pipeline operations from pre-installation through system activation will be handled by Blue Raven Solar, full-service installation partners, and our trusted network of SunPower-certified dealers — all who meet our standards of integrity, design, quality, and customer service. As we make this transition over the next month, we are dedicated to handling our customer experience with the highest levels of care and with minimal impact on timelines.
Moving forward, SunPower will focus our efforts on serving our best-in-class Dealer Network and installation partners. We plan to continue to invest in our New Homes business, which continues to grow. We will still manage ongoing customer service needs, including operations and maintenance (O&M), and will continue to honor our Complete Confidence warranty.
We appreciate the ongoing support from our employees, partners and customers as we move SunPower into its next era. Even on our toughest days, I know together we can change the way our world is powered.
Regards,
Tom Werner
Principal Executive Officer

APRIL 2, 2022 — 89 EMPLOYEES IN SAN JOSE, CALIFORNIA WILL BE LAID OFF

The company has announced it’s laying off 89 headquarters and research-and-development center workers in San Jose, California as the company continues to focus exclusively on the residential solar market after selling off its commercial and industrial business.

JANUARY 8, 2021 — HILLSBORO, OREGON PLANT TO CLOSE WITH 170 LAYOFFS

The company has announced that it will be closing its former SolarWorld factory in Hillsboro, Oregon which will impact 170 employees. Operations will end in March 2021 with full plant closure in June 2021,

According to SunPower CEO Tom Werner, “We made the difficult but necessary decision to close our plant after careful evaluation and the change in focus of our business over recent months. We recognize how hard this is for all the employees impacted and are dedicated to helping them through this transition.”

The company continues to struggle against state-subsidized foreign solar panels and components.

JANUARY 4, 2020 — COMPANY SPLITS INTO TWO INDEPENDENT COMPANIES WITH 160 LAYOFFS

San Jose, California-based SunPower Corporation. a designer and manufactures silicon photovoltaic cells and solar panels and is owned by French multinational energy company Total S.A., has announced it will be executing a reduction in force that will impact up to 160 jobs.

The decision was driven by a restructuring plan that would see the company separated into “two independent, complementary, strategically-aligned and publicly-traded companies – SunPower and Maxeon Solar Technologies. Each company will focus on distinct offerings built on extensive experience across the solar value chain. SunPower will continue as the leading North American distributed generation, storage, and energy services company and the newly-formed Maxeon Solar will be the leading global technology innovator, manufacturer, and marketer of premium solar panels.

According to Tom Werner, president, and CEO of SunPower, “We believe that the solar industry is entering a period of extended growth where success will be driven by value chain specialization, technology innovation and economies of scale. This new structure and investment will create two focused businesses, each with unique expertise to excel in their part of the value chain."

Maxeon Solar Technologies, which will be based in Singapore and continue to manufacture solar panels offshore in companies located in France, Malaysia, Mexico, and the Philippines. The new company will be partially funded with a $300 million investment from a Chinese manufacturer, Tianjin Zhonghuan Semiconductor.

SunPower will continue to focus on the sales, installation, maintenance, and management of solar energy devices. The company laid off a similar number of employees in 2018 and estimates that restructuring activities will continue through mid-2023 according to a financial filing with the Securities Exchange Commission.

MARCH 8, 2018 — Original Post…

Solar power system designer and manufacturer SunPower has announced that they will be laying off up to 250 employees, reportedly well-paying research and development and marketing positions to compensate for increased costs related to President Trump’s new 30% tariff on imported solar panels and components. This is before President Trump announced the imposition of new tariffs on steel (25%) and aluminum (10%).

According to SunPower CEO Tom Werner, “with the new tariffs, SunPower will lose $50 million this year, about one-sixth of the company's overall operating costs.” According to Werner, the company fears that next year's losses will be even more staggering, predicting the firm could lose closer to $100 million.”

"We'll have to cut costs, even more, we just don’t have the money. A cursory review of our balance sheet would see there is not sufficient money which would mean decreased American investment — we’d focus on foreign markets where we don’t have to pay a tariff.” “Werner said the shift to overseas would take jobs with it.”

If SunPower’s request for a tariff waiver is not granted, the result “will likely result in more job cuts and a shift toward more investment in foreign markets.” SunPower is mostly owned by France’s Total, one of the seven ‘super-major,” and the fourth publicly-listed energy company in the world. Total is also dealing with a prolonged downturn in the oil and gas industry.