Faced with numerous headwinds, Ørsted will slash its workforce numbers by 2,000 by 2027, eliminating a quarter of its current roles, the world’s largest offshore wind developer said on Thursday. Fresh off its $9.35 billion rights issue to raise funds from existing shareholders, Ørsted announced today it is taking another step in the execution of its strategic priorities by reducing its organization by about 2,000 positions by the end of 2027.?? The company will slash jobs as it will focus more on Europe ...

Core Insights - The stock market's recent rally contrasts sharply with the underlying macroeconomic conditions, as consumers express concerns over inflation and potential job cuts, while the Federal Reserve is preparing to cut interest rates [1] Group 1: Market Conditions - The stock market rally is not aligned with the macroeconomic reality, indicating a potential disconnect between market performance and economic fundamentals [1] Group 2: Analyst Background - Gary Alexander has extensive experience in both Wall Street technology coverage and Silicon Valley, providing insights into current industry trends [1] - He has been a contributor to Seeking Alpha since 2017 and has been featured in various web publications, indicating a strong presence in financial analysis [1]

LIVE Government Shutdown: Bessent Says GDP Will Be Hit; Trump Meeting to Decide on Job Cuts Last Updated: 1 hour ago How a Shutdown Could Slow the Housing Market By Shaina Mishkin (Photo by Joe Raedle/Getty Images) Home sales won't grind to a halt during a government shutdown. But sellers, buyers, and the housing industry will still be affected, particularly so if the shutdown drags out, Selma Hepp, the chief economist at real estate data and analytics firm Cotality, writes. "Overall, the shutdown introduce ...

Hiring Trends - US employers reduced hiring plans in September [1] - Fewer job cuts were announced by US employers in September [1] Data Source - Data is from outplacement firm Challenger, Gray & Christmas [1]

Core Viewpoint - ExxonMobil plans to eliminate approximately 2,000 jobs globally, primarily in Canada and the EU, as part of a strategy to consolidate smaller offices into regional hubs [1][2]. Group 1: Job Reductions - The job cuts represent about 3-4% of Exxon's global workforce, with around half of the reductions occurring in Europe and most of the remainder at Imperial Oil, where Exxon holds a nearly 70% stake [2]. - In the EU and Norway, Exxon will cut around 1,200 positions by the end of 2027, with layoffs accounting for half of these reductions [2]. - Imperial Oil will reduce its workforce by approximately 900 roles, which is around 20% of its total workforce, over the same timeframe [3]. Group 2: Cost Savings and Efficiency - The restructuring actions have resulted in the removal of $13.5 billion in annual costs since 2019, with a goal to increase savings by an additional 30% before 2030 [5]. - Savings have been achieved through asset sales, headcount reductions, and improvements in maintenance and best practice sharing [5]. - The company aims to lower operating expenses by C$150 million (approximately $108 million) annually through the job cuts at Imperial Oil [3]. Group 3: Strategic Focus - Exxon plans to concentrate its regional hubs on key growth areas, including oil production in Guyana, liquefied natural gas projects along the US Gulf Coast, and global trading [3]. - The restructuring is part of a multi-year effort to simplify Exxon's global structure, which has evolved since the merger with Mobil [4]. - CEO Darren Woods emphasized that these changes will strengthen Exxon's competitive advantages and help maintain its leadership position in the industry for decades [4].

Households save more as food prices grow, Close Brothers offloads another unit and Deloitte to cut jobs -- get briefed ahead of your morning calls with The London Rush https://t.co/DnG3tTjEd1 ...

Best Buy has been making job cuts across the company, including reductions to its Geek Squad team https://t.co/ClcR8ckG9M ...

Agency Impact & Funding - The Trump administration's cuts significantly impacted the National Institute for Occupational Safety and Health (NIOSH), affecting approximately 90% of its workforce [3][8] - Proposed budget cuts threatened to slash 80% of NIOSH's funds, jeopardizing its mission to protect American workers [9] - NIOSH's work, costing only $1 per American per year since 1979, has been crucial for workplace health and safety research [5] Workplace Safety & Research - NIOSH conducts and funds most U S workplace health and safety research, providing critical information and technical support to employers and workers [5][18] - The agency acts as "disease detectives" for workplaces, addressing unusual problems without known solutions, benefiting various industries [19] - NIOSH's research extends to emerging hazards like lithium-ion battery and electric vehicle fires, providing essential safety information to firefighters [20][21] Mining Industry & Worker Protection - NIOSH's work is vital for protecting miners, especially with the planned expansion of mining in the U S [13][14] - Cuts to NIOSH have halted projects aimed at improving the readiness of mine rescue teams, endangering miners in emergency situations [12] - The loss of NIOSH's services is a devastating blow to mining families, given the industry's history of injuries and fatalities [23][24]

Employment Trends - Job gains in health care were offset by job cuts in the federal government [1] - Job losses occurred in mining, quarrying, and oil and gas extraction sectors [1]

Cost Reduction & Efficiency - Kaneko Phillips计划削减10亿美元的成本，涉及多个领域，包括GNA [2][3] - Kaneko Phillips裁员25%，幅度高于预期 [3] - 石油和天然气公司正在拥抱技术，通过流程驱动的AI等举措，可以用更少的员工执行计划 [4] - 行业普遍认为，在低油价环境下，削减成本是明智之举，新技术也使得公司能够事半功倍 [4] Company Focus & Strategy - California Resources Corporation (CRC) 是一家较小的能源公司，专注于加利福尼亚州的石油和天然气生产 [6] - CRC 正在寻求业务转型，包括碳捕获，目标是成为第一家能够将碳封存在地下的公司，预计明年年初实现 [7] - CRC 拥有一家发电厂，并计划在该地点 Colllocate 数据中心 [7] - CRC 拥有巨大的房地产价值，有望在长期内释放 [8] Market & Regulatory Environment - 加利福尼亚州正在进行石油和天然气许可改革，这可能会在未来几年内为该州带来更多的钻探机会 [8]