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Lyondell to Lay Off 86% of Workforce at Shuttered Houston Refinery

Lyondell Basell Industries is set to lay off 345 workers, or 86% of the workforce, at its shuttered Houston refinery on April 17, according to a filing with the Texas Workforce Commission. The move comes after the company completed the shutdown of the facility earlier this month, which was designed to process heavy-sulfur crude oil and has significant capacity in the United States. The layoffs are expected to have a major impact on the local community, where many workers depend on the refinery for employment.

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DHL to Cut 8,000 Jobs as Part of $1.1 Billion Cost-Saving Strategy Δ1.74

DHL has unveiled plans to cut about 8,000 jobs in Germany this year as part of a strategy to save more than 1 billion euros ($1.08 billion) by 2027, after the logistics group reported a 7% fall in annual operating profit. The job cuts, representing more than 1% of the total workforce, will occur in the Post & Parcel (P&P) Germany division through attrition, rather than compulsory redundancies. This move is part of a broader effort to address cost inflation and declining letter volumes.

Shell Mulls Sale of European, US Chemicals Assets, WSJ Reports Δ1.72

The energy group has hired Morgan Stanley to conduct a strategic review of its chemicals operations, the report said. Shell declined to comment. Morgan Stanley did not immediately respond to a request for comment outside regular business hours. The review is in its early stages and Shell has not yet made any definitive decisions regarding a potential sale, the Journal reported, adding that one of the assets included in the review was Shell's Deer Park facility in Texas. Last year Shell sold its refining and chemicals hub in Singapore, one of the world's largest.

Shell Mulls Sale of European, US Chemicals Assets, WSJ Reports Δ1.71

Shell is considering a potential sale of its chemicals assets in Europe and the United States, as it aims to simplify its operations and focus on its core businesses. The energy group has hired Morgan Stanley to conduct a strategic review of its chemicals operations, which are expected to be significantly impacted by lower seasonal demand. Shell's trading in its chemicals and oil products division is expected to decline quarter-on-quarter due to reduced seasonal demand.

RBC Lays Off Employees After Segment Shakeup, Sources Say Δ1.71

RBC has laid off some employees as a result of changes at its business segments following the C$13.5 billion acquisition of HSBC's domestic business last year. The layoffs were reported to have started earlier this week, affecting various teams including technology and operations, personal banking, and commercial banking. The restructuring aims to better position RBC for future growth opportunities.

Grubhub Reduces Workforce Amid Restructuring Δ1.71

Grubhub has announced a significant reduction in its workforce, cutting approximately 500 jobs, as it seeks to realign its business with its new parent company, Wonder. The layoffs represent around 20% of the company's full-time employees, who now number over 2,200. This restructuring move comes amidst slowing growth and high taxes, which led to a steep loss for previous owner Just Eat Takeaway.

Chevron Given 30 Days to Shut as Trump Squeezes Venezuela Δ1.71

The US administration's decision to give Chevron one month to shut down its oil operations in Venezuela is a significant blow to President Nicolas Maduro's regime, forcing him to navigate democratic reforms and migrant acceptance in a tight timeline. The Treasury Department's deadline is an unexpected move, likely intended to pressure Maduro into new negotiations, while leaving room for the possibility of renewed operations if terms are agreed upon. This ultimatum could have far-reaching implications for Venezuela's economy and global oil markets.

Job Cuts at Grubhub Highlight Industry Shift Amid Consolidation Δ1.70

Grubhub has announced plans to cut approximately 500 jobs, representing over 20% of its workforce, as the company seeks to realign its business with its parent company Wonder after a takeover last month. The layoffs come amid broader industry shifts and consolidation efforts in the food delivery sector. Grubhub's restructuring aims to enhance operational efficiency and improve its competitive position.

RBC Lays Off Employees Related to HSBC Deal Δ1.70

RBC has laid off some employees as a result of changes at its business segments following the acquisition of HSBC's domestic business last year for C$13.5B. The restructuring is aimed at optimizing RBC's operations and improving efficiency in its retail banking division. This move follows a similar trend seen in other financial institutions, where cost-cutting measures are being implemented to adapt to changing market conditions.

IRS Plans to Cut Up to Half of Workforce, AP Sources Say Δ1.70

The Internal Revenue Service is drafting plans to reduce its workforce by up to half through a combination of layoffs, attrition, and buyouts, according to two people familiar with the situation. This move is part of the Trump administration's efforts to shrink the size of the federal workforce through various measures. A significant reduction in force could render the IRS "dysfunctional," said John Koskinen, a former IRS commissioner.

Thyssenkrupp to Cut 1,800 Jobs on Automotive Weakness Δ1.70

Thyssenkrupp has announced plans to eliminate approximately 1,800 jobs in response to ongoing challenges within the automotive sector, attributing the decision to persistently low production volumes and uncertainty surrounding new tariffs. The company aims to save over 150 million euros by freezing hiring and reducing investments alongside the workforce reduction. This move highlights the broader struggles faced by automotive suppliers as they adapt to shifting market dynamics and the slow transition to electric vehicles.

Tech Industry Jobs Cuts: Bay Area Tech Companies Announce Layoffs Amid Economic Uncertainty Δ1.70

HP Inc. and Autodesk are the latest tech companies to cut jobs in the San Francisco Bay Area, with HP planning up to 2,000 additional layoffs as part of its restructuring plan. The company aims to save $300 million by the end of fiscal year 2025 through reduced staffing. This move follows similar job cuts at other prominent tech firms, including Google and Meta, which are also investing heavily in artificial intelligence.

US CHIPS Act Office Lays Off About a Third of Its Staff, Sources Say Δ1.70

The U.S. Commerce Department's office overseeing $39 billion of manufacturing subsidies for chipmakers has significantly downsized its workforce, with approximately one-third of its staff let go in a sudden move. The layoffs have been prompted by the new administration's review of the 2022 CHIPS Act projects, which aims to boost domestic semiconductor output. This change marks a significant shift in the agency's priorities and operations.

HPE's Layoffs Cast Shadow on Server Business Amid Regulatory Scrutiny Δ1.70

Hewlett Packard Enterprise (HPE) is slashing 3,000 jobs amid declining server sales and profit margins, sparking concerns about the company's competitiveness in the industry. CEO Antonio Neri acknowledged the disappointment, attributing it to "aggressive discounting" and inventory misalignment. The company's woes have sent shares tumbling, raising questions about its ability to navigate regulatory challenges.

US Orders Wind Down of Chevron's Oil Exports From Venezuela in 30 Days Δ1.69

The Trump administration has announced the termination of a license that allowed Chevron to operate and export oil from Venezuela, citing a lack of progress on electoral reforms by President Nicolás Maduro. Chevron now has until April 3 to cease its exports, which have been crucial for Venezuela's struggling economy. The decision has sparked criticism from Venezuelan officials, who describe it as damaging and a continuation of economic warfare against the country.

Disney Downsizes News Division in Bid to Future-Proof Business Amid Linear TV Decline Δ1.69

Disney is eliminating 6% of its staffers, or nearly 200 employees, from its news and entertainment division as part of efforts to streamline operations amid declining linear television revenue. The bulk of the cuts will impact ABC News, which is also shuttering its political and data-driven news site 538. Disney's restructuring aims to restore efficiency and reduce costs as the company continues to invest in streaming endeavors.

2024 Tech Layoff Wave Wipes Out Half of the Industry's Staff Δ1.69

The tech layoff wave continued through 2024, with over 150,000 job cuts across 542 companies, according to independent layoffs tracker Layoffs.fyi. Large companies like Tesla, Amazon, Google, TikTok, Snap, and Microsoft conducted sizable layoffs in 2024, while smaller-sized startups also experienced cuts, and in some cases, shut down operations altogether. We’re continuing to track the industry’s layoffs into 2025 so you can see the trajectory of the cutbacks.

Mass Layoffs to Hit Veterans' Affairs as Early as June Δ1.69

The Department of Veterans Affairs will begin mass layoffs, targeting more than 80,000 workers, in an effort to reduce the agency's size by at least a fifth. The planned cuts, which could be finalized by June, have been met with criticism from Democrats and some Republicans, who argue that they threaten veterans' health benefits. The layoffs are part of a broader effort by President Donald Trump and billionaire adviser Elon Musk to slash the federal government's workforce.

Google Lays Off Hundreds of Cloud Workers Through Voluntary Redundancies Δ1.69

Google is reportedly offering voluntary redundancies to its cloud workers as part of a broader effort to cut costs and increase efficiency. The company has been struggling to maintain profitability, and CEO Sundar Pichai has announced plans to reduce expenses across various departments. While the layoffs are likely to be significant, Google has also stated that it expects some headcount growth in certain areas, such as AI and Cloud.

US CHIPS Act Office Lays Off Staff Amid Reorganization Efforts Δ1.69

About one-third of the staff in the U.S. Commerce Department office overseeing $39 billion of manufacturing subsidies for chipmakers was laid off this week, two sources familiar with the situation said. The layoffs come as the new Trump administration reviews projects awarded under the 2022 U.S. CHIPS Act, a law meant to boost U.S. domestic semiconductor output with grants and loans to companies across the chip industry. The staffing cuts are part of a broader effort to reorganize the office and implement changes mandated by the CHIPS Act.

Federal Worker Layoffs: A Growing Concern Among Americans Δ1.69

A near-record number of federal workers are facing layoffs as part of cost-cutting measures by Elon Musk's Department of Government Efficiency (DOGE). Gregory House, a disabled veteran who served four years in the U.S. Navy, was unexpectedly terminated for "performance" issues despite receiving a glowing review just six weeks prior to completing his probation. The situation has left thousands of federal workers, including veterans like House, grappling with uncertainty about their future.

Layoffs at Noaa to Put American Lives at Risk Δ1.68

Scientists warn that Trump administration's firing of hundreds of workers at NOAA will put lives at risk and stifle crucial climate research.The layoffs at the agency, which provides critical information on weather emergencies, include scientists working on data for forecasts among those fired.NOAA's work spans climate modeling, radar system maintenance, and more.In addition to everyday forecasting, NOAA provides crucial information to help Americans survive weather emergencies.The cuts come at a time when scientists say climate change is increasing the intensity and frequency of hurricanes, tornadoes, flooding, and wildfires.

CERAWEEK Top Oil Executives Reckon with Downturn Even as Trump Cheers Them On Δ1.68

The energy industry is facing a perfect storm of declining oil prices, rising costs, and regulatory uncertainty, forcing companies to slash thousands of jobs and cut investment. Oil majors are grappling with mass layoffs and activist investor pressure to transform their performance. The industry's reset will be front and center at the CERAWeek conference, where executives and policymakers will discuss the future of energy policy.

Disney Layoffs to Impact News Network and Entertainment Units Δ1.68

Disney is planning to reduce its workforce by roughly 6% across the ABC News Group and Disney Entertainment Networks, a move that could impact the production of popular news shows and entertainment content. The layoffs are expected to be announced soon and will primarily affect less than 200 staff members at ABC News. This restructuring effort comes as the media giant grapples with declining TV audiences shifting to streaming platforms.

US Labor Department Reinstates Workers Targeted in Trump Job Cuts, Union Says Δ1.68

The U.S. Department of Labor has reinstated about 120 employees who were facing termination as part of the Trump administration's mass firings of recently hired workers, a union said on Friday. The American Federation of Government Employees, the largest federal employee union, said the probationary employees had been reinstated immediately and the department was issuing letters telling them to report back to duty on Monday. This decision reverses earlier actions taken by the Labor Department, which had placed some employees on administrative leave.

Google Restructures Hr, Cloud Teams - Layoffs, Role Relocations Part of Cost-Cutting Push Δ1.68

Google is implementing significant job cuts in its HR and cloud divisions as part of a broader strategy to reduce costs while maintaining a focus on AI growth. The restructuring includes voluntary exit programs for certain employees and the relocation of roles to countries like India and Mexico City, reflecting a shift in operational priorities. Despite the layoffs, Google plans to continue hiring for essential sales and engineering positions, indicating a nuanced approach to workforce management.