AM I NEXT? NO LOVE AT DOMA TITLE (12/07/22)

DECEMBER 7, 2022 —40% REDUCTION IN THE DOMA WORKFORCE

The third round of layoffs will see a 40% reduction in force. According to CEO Max Simkoff…

“This reduction in workforce, along with corresponding long-term facility-related cost savings, are aligned with Doma’s accelerated profitability objective.”

“We’ll be leaning into our core data science-led differentiator of instant title and seeking ways we can expand its use through new channels and partnerships. Additionally, we’ll be investing more in our underwriting offerings and continuing to deliver value to independent title agents.”

AUGUST 31, 2022 — Original post…

San Francisco, California-based Doma Title, a technology company automating digital title insurance, escrow, and closing operations with predictive analytics and a future-based risk insurance model, has announced an initiative to re-focus the company's operations to meet the ongoing challenges of a difficult mortgage marketplace. The company plans to put more emphasis on purchase mortgages as rising interest rates are severely impacting the refinancing of mortgages.

According to a company spokesman, the company is laying off another 13 percent of its workforce, or 250 employees. Doma’s stated goal is to completely reimagine the residential real estate closing process using its machine learning platform, Doma Intelligence, and other technology it has developed to automate the title and escrow processes."

This brings the total 2022 layoffs to 561 employees, which is expected to generate annual cost savings of $70 million a year.

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?

AM I NEXT? NO LOVE AT ADM /ARCHER-DANIELS-MIDLAND (03/29/25)

MARCH 29, 2025 — 700 EMPLOYEES

The company has announced approximately 700 layoffs in its largest business unit, the grain trading and oilseed processing division.

According to a company statement, "The actions the company is taking are part of the targeted workforce reduction and cost saving actions we announced earlier this year."

AUGUST 30, 2022 — Original post….

Chicago, Illinois-based Archer-Daniels-Midland, a major food processing and commodities trading corporation, has announced their decision to permanently close its ADM Milling plant in Keokuk, Iowa.

The decision was driven by regulatory issues involving the plant's wastewater pretreatment operations and will impact an unknown number of employees.

According to a company spokesperson, "the company regularly reviews its global footprint to determine whether assets are best positioned to meet customer needs and advance its growth strategy. Unfortunately, after exploring a wide variety of alternatives, the company officials have determined the Keokuk plant no longer aligns with its milling business's future operation needs. The company has informed its colleagues of the intention to close the plant immediately."

"Right now, we're focused on our colleagues in Keokuk. We have a team onsite working with impacted colleagues. The company also will be working with its customers that have been supplied from Keokuk. We appreciate the cooperative relationship we've had with the city of Keokuk, and we look forward to continuing to work with them as we find a buyer for the facility.

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?

AM I NEXT? NO LOVE AT PACKABLE

New York, New York-based Packable, the holding company for Pharmapacks and an e-commerce technology platform providing logistics, marketing, selling, and fulfillment services, has announced it will be ceasing operations and laying off all employees.

The decision was driven by the company's inability to obtain funding for continuing operations following the failure of the company to go public via a special purpose acquisition corporation.

The decision to cease operations will affect all employees company-wide in multiple locations. According to a company filing, 456 employees are impacted, with the final shutdown is scheduled for January 8, 2023.

According to a company announcement, "The company was laying off 138 people, or roughly 20% of its staff, with the remaining 372 employees expected to be terminated as individual winddown responsibilities are completed. We diligently pursued internal and external financing options but were ultimately unsuccessful. Given the company has no viable financing alternatives, we are now forced to cease operations, liquidate any remaining collateral, and shut down the business."

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?