NO LOVE AT BANK OF AMERICA (03/11/25)

Am I Next? Layoffs -- Bank of America closing Pasadena California facility.

MARCH 11, 2025 — 150 INVESTMENT BANKERS

Bank of America eliminated 150 junior banker employees, including associates and analysts, in its investment bank division. According to the company, the personnel adjustments follow an annual performance review process which saw some members of management, including managing directors, directors, and vice presidents being laid off.

NOVEMBER 10, 2021 — 3,000 EMPLOYEES AT RISK IN BREA, CALIFORNIA

The Bank of America has confirmed that it is leaving its 637,503-square-foot operations/call center facility in Brea, California by July 2022 due to an early lease termination that will see the property be repurposed into an Amazon distribution center.

According to a company spokesperson, “We’ve been in discussions with the property owner and have agreed to exit the building in July 2022. This is all new and happening very fast. Our priority right now is to keep these employees in their current roles up until July. We don’t know where we’ll go after that.”

Many of the call center employees have been working remotely since the start of the COVID-19 pandemic, so their jobs may be preserved if the bank transitions to a smaller facility and further automates the call process using artificial intelligence response systems.

JANUARY 24, 2019 — CALL CENTER EMPLOYEES LAID OFF IN MARYLAND

Another call center consolidation will cost 74 employees their jobs at the bank’s Hunt Valley, Maryland call center. Operations will be transferred to other centers. It appears that technology is reducing the need for humans at call centers as clients turn to self-service websites, mobile devices, and chat messaging to interact with the bank.

MAY 31, 2018 — Original Post…

The Bank of America has announced that after 40-years it will not be renewing the lease on their Pasadena, California corporate office and will be laying off 575 employees. Some of the back-office customer service and processing support employees will be offered the opportunity to move to other bank facilities in Los Angeles, an enlarged Glendale facility, and Orange County. 

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 ... are you now wondering, Am I Next?

NO LOVE AT SONOS (02/18/25)

Am I Next? Layoffs at Sonos, the wireless device company.

FEBRUARY 18, 2025— 200 EMPLOYEES

The company announced it is cutting 12% of its workforce, approximately 200 jobs, in a restructuring initiative following financial losses and claimed mismanagement.

From interim CEO Tom Conrad…

As I just shared with you on our call, I’ve made the very difficult decision to eliminate about 200 positions at our company.

In the interest of minimizing uncertainty for everyone as quickly as possible, if your job has been eliminated, you’ll soon receive an email describing your transition and severance package along with the option to schedule a 1:1 meeting with our People team. Everyone else will receive an email confirming that your job has not been affected.

To those we're saying goodbye to today, I want to thank you for your contributions to Sonos. There’s no way around the fact that this is a terrible outcome. The company and I are committed to doing everything we can to support you in the coming days, weeks and months.

Understanding it was likely hard to take in much else during the call, I’m going to re-share what I said about how and why we are doing this.

I know that everyone here cares deeply about Sonos and the experiences we build for our customers – and I know that you want us to get back on track after a tough year. You’ve also told me that we’re struggling to make all the progress we want.

One thing I’ve observed first hand is that we’ve become mired in too many layers that have made collaboration and decision-making harder than it needs to be. So across the company today we are reorganizing into flatter, smaller, and more focused teams.

Most significantly, we are reorganizing our Product organization into functional groups for Hardware, Software, Design, Quality and Operations, and away from dedicated business units devoted to individual product categories. With this simpler organization in place, cross-functional project teams will come together to improve our core experience and deliver new products. Being smaller and more focused will require us to do a much better job of prioritizing our work — lately we’ve let too many projects run under a cloud of half-commitment. We’re going to fix this too.

AUGUST 15, 2024 — ANOTHER 100 EMPLOYEES

The company has laid off approximately 100 employees, including teams in marketing, product and engineering, platform and infrastructure, and software quality as they wind down some of the company’s customer support offices, including one in Amsterdam that will close later this year.

CEO Patrick Spence noted, “We made the difficult decision to say goodbye to approximately 100 team members representing 6 percent of the company. This action was a difficult but necessary measure to ensure continued, meaningful investment in Sonos’ product roadmap while setting Sonos up for long-term success. Our continued commitment to the app recovery and delighting our customers remains our priority and we are confident that today’s actions will not impact our ability to deliver on that promise.”

JUNE 18, 2023 — 130 EMPLOYEES GONE

The company has announced a reduction in force, impacting approximately 7% of its employees, or 130 employees.

The Company also committed to further reducing its real estate footprint and re-evaluating certain program spend. The foregoing actions reflect the Company’s commitment to rightsizing its cost base while still investing in its product roadmap to drive future growth.

Sonos CEO Patrick Spence noted, “In the face of continued headwinds we have had to make some hard choices, including eliminating some positions and reevaluating program spend.”

The company had previously cut headcount by 12% in 2020, in response to the rapidly unfolding Covid pandemic.

MAY 23, 2018 — Original post…

Sonos, Inc., the wireless device maker based in Santa Barbara, California, appears to be trimming its expenses, by laying off 96 employees, possibly in preparation for an upcoming summer IPO (Initial Public Offering). It is known that Sonos has filed a confidential IPO document with the Securities and Exchange Commission.

Sonos excuses the layoffs with the standard corporate speak via company spokesperson Laura Morarity, “Like any healthy business, we occasionally make adjustments to the size and structure of our teams to stay nimble and align resources with market opportunities. Sonos is growing and profitable.”

Sonos is facing increasing competition from companies building wireless connectivity into their products, and the public offering may represent an opportune time for investors to execute a profitable exit strategy. 

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. We see good people being laid off through no fault of their own. 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?

 

NO LOVE AT GENERAL MOTORS - LORDSTOWN, OHIO (UPDATED)

Am I Next? Layoffs at General Motors

NOVEMBER 7, 2019 LORDSTOWN PLANT SOLD TO ELECTRIC PICKUP STARTUP.

GM has announced the sale of their closed 6-million square-foot Lordstown, Ohio, assembly plant to startup Lordstown Motors Corporation, who plans to make electric pickup trucks, aimed at business and government customers.

The pickup truck, the workhorse of American industry, has become the object of affection from millennial and it is unknown if traditional pickup owners, especially those who operate in harsh (hot or cold) climates are willing to risk their livelihood of sketchy electric vehicles.

Perhaps the company, like Tesla, is gambling on the existence of government subsidies, grants, and tax allowances — plus customer incentives?

MARCH 7, 2019 — THE LAST CHEVY CRUZE ROLLED OFF THE LINE

"General Motors is ending production at its Lordstown, Ohio plant Wednesday — two days earlier than previously expected. A GM spokesperson said that's when the 6.2 million-square-foot plant will churn out its last Chevy Cruze sedan. At that point, the factory will be unallocated, which means no vehicles will be assigned to that facility.” An estimated 1700 employees will be affected. The plant will be closed and sold.

DECEMBER 29,2018 — THE RIPPLE BECOMES A WAVE

Lordstown Seating Systems has announced that it will be going beyond the 83 layoffs previously announced and laying off virtually the entire plant by March 2019. It is anticipate that approximately 120 employees will lose their jobs.

A company spokesperson noted, “Should General Motors allocate a future product to Lordstown Assembly, we would hope to be selected as the seat supplier, which would allow us to recall a significant number of employees. If a future product is not allocated by General Motors and/or we are not selected as the seat supplier for the future product, these layoffs should be considered permanent.”

JUNE 12, 2018 — GM WORKERS TAKE EARLY RETIREMENT PRIOR TO LAYOFFS

As a consequence of General Motors offer of early retirement in April 2018 prior to preparations to layoff the second shift at the Lordstown, Ohio, plant, 595 employees have accepted to either retire early or take GM’s buyout package offer.

APRIL 19,2018 — AN EXAMPLE OF THE RIPPLE EFFECT… 

As a consequence of the layoffs at the General Motor's plant, Lordstown Seating Systems, a local provider of car seating solutions, announced the layoffs of 83 employees. 

Original Blog Entry ...

General Motors has announced that it will lay off up to 1,500 second shift workers at their Chevy Cruze Assembly Complex in their Lordstown, Ohio assembly plant.

According to a General Motors spokesperson, the decline in Cruze sales is directly responsible for the layoffs. GM can no longer simply ship additional cars to dealers – even at a discount – if consumer buying patterns shift and overall demand is reduced. It appears that consumer buying tastes are shifting toward trucks and SUVs. The 2019 version of the Cruze is on schedule to be launched later this year.

According to published reports, “March 2018 was the 11th consecutive month of sales declines for the Cruze. Last year, the plant lost its third shift and saw more than 10 weeks of downtime because of the trend away from small cars.”

Since the United Autoworkers acquired a chunk of General Motors ownership under an arrangement during the Obama administration, they appear to have a conflict of interest in maximizing profits and keeping their members gainfully employed.

Union leadership in Lordstown is changing as UAW local 1714 and UAW Local 1112 merged to compensate for declining membership as union members retire and to make it easier for GM to renegotiate the expiring 2019 contract rather than deal with two unions for employees at the same location. It is another reason for individuals to develop multiple independent sources of income and to be prepared for turbulent times.

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?