AM I NEXT? NO LOVE AT AURORA SOLAR

San Francisco, California-based Aurora Solar, a developer and host platform of solar industry software that manages solar system design and installation, has announced a 20% reduction in its workforce.

The reduction will impact 500 employees and follows a smaller layoff of 20 people in November 2023.

According to a company spokesperson, “Like many other companies in the solar industry, we’ve felt the effects of larger macroeconomic challenges, including higher interest rates and the impact of NEM 3.0 [ Net Metering] in California."

Under California's NEM 3.0, homeowners are getting paid about 75% less for power sold back to utilities, thus changing the economics of owning and using solar systems. Additionally, homeowners are becoming educated about the hype surrounding the sales of solar units and realize that for the average homeowner, solar is cost prohibitive, the payback is grossly overstated, and the solar component's productive life is a fraction of the contractual period.

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 ZIMMER BIOMET

Warsaw, Indiana-based Zimmer Biomet, a medical device manufacturer, has announced a 3% reduction in its workforce.

The personnel realignment will impact approximately 540 employees/

According to a company statement, In order to create and sustain a framework of operational excellence across Zimmer Biomet, we are making changes to further enhance our execution, commercial focus and how we collaborate. We will be reallocating investments and resources to best position the company for long-term growth, which includes last week’s announcement to reduce headcount by approximately 3% of the more than 18,000 total current global ZB team member positions."

“Simplification of our processes, our structure and how we work is key to delivering on our strategy, and we remain confident in our ability to execute as we continue to deliver on our mission to alleviate pain and improve the quality of life for people around the world.”

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 TOAST

Boston, Massachusetts-based Toast, a cloud-based restaurant management software company providing an all-in-one point-of-sale system built on the Android operating system, has announced a restructuring intended to lower operating costs and a ten percent reduction in its workforce amid slowing demand for Toast’s tools for mobile ordering and payments.

The reduction in force will impact 550 employees.

Co-founder and CEO Aman Narang noted, "Our decisive actions to streamline operations and focus on core growth areas are reflected in our strong financial performance and the positive response from the market. We are committed to executing our restructuring plan efficiently to position Toast for long-term success."

According to an SEC filing, "On February 13, 2024, Toast’s Board of Directors approved a restructuring plan designed to promote overall operating expense efficiency, including a reduction in force that is expected to impact approximately 550 employees, as well as certain other actions to reorganize the Company’s facilities and operations. The Company expects to complete the Plan by the end of fiscal year 2024. As part of this Plan, the Company expects to incur restructuring and restructuring-related charges of approximately $45 to $55 million, primarily related to severance and severance-related costs and certain other costs related to facilities. Substantially all of these charges are expected to be incurred in the first quarter of fiscal year 2024.

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?