AM I NEXT? NO LOVE AT WOLFSPEED (03/07/25)

MARCH 7, 2025 —- 180 EMPLOYEES

Wolfspeed revealed in a filing with the U.S. Securities and Exchange Commission that it would be cutting another 180 jobs, primarily in its materials operations at its Durham, North Carolina headquarters and facilities in Siler City, North Carolina.

DECEMBER 11, 2024 — Original blog…

Durham, North Carolina-based Wolfspeed, a developer and manufacturer of wide-bandgap semiconductors, focused on silicon carbide and gallium nitride materials, is restructuring, closing its Durham device fabrication plant and implementing a 20% reduction in its workforce. as it transitions to a new product offering.

Approximately 1,000 employees will be impacted by the restructuring.

According to CEO Gregg Lowe, "To drive operational improvements, we are taking action to enhance efficiency, align our business with current market conditions, and become the first silicon carbide company to transition to pure-play 200-millimeter. The transition to a fully 200-millimeter platform allows us to take further initiatives to streamline our cost structure, including closing our manual Durham 150-millimeter Fab, other manufacturing footprint rationalization, and reducing our workforce.”

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 terrible 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. While many employees can read the writing on the wall, why do most assume it’s targeted at someone else? Are you now wondering, Am I Next?

AM I NEXT? NO LOVE AT TWO SIGMA

New York, New York-based Two Sigma Investments, a hedge fund specializing in quantitative technological trading strategies, has announced a 10% reduction in its workforce.

The reduction impacts 200 employees following the firm's strategic review.

According to a company spokesperson, “This area-specific review has revealed that our business is strong and poised for continued growth. We have also discovered opportunities to more effectively direct our resources to areas that will drive the most value.”

Hedge fund Two Sigma is facing a massive fine, up to $100 million, to resolve a U.S. Securities and Exchange Commission trading scandal investigation involving employee misconduct that resulted in hundreds of millions of dollars in losses and profits.

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 terrible 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. While many employees can read the writing on the wall, why do most assume it’s targeted at someone else? Are you now wondering, Am I Next?

AM I NEXT? NO LOVE AT TEGNA

Tysons Corner, Virginia-based Tegna, a broadcast, digital media, and marketing services company, has announced a cost-cutting initiative that will centralize broadcast services and implement artificial intelligence services.

The centralization plan will impact hundreds of Tegna employees nationwide.

According to executive vice president and chief operating officer of media operations Lynn Beall, "Today, we’re sharing that we’re centralizing our marketing team. This team will share the same goals as stations – growing audience and revenue.

We know this change won’t be easy, but it is a necessary step to becoming more focused, effective, and strategic in our marketing efforts. This will eliminate duplication of work and allow us to apply best practices across the entire organization.

The team will oversee key areas, including the growth of our stations and audience, digital marketing, consumer insights, community engagement, commercial production, and strategic initiatives like sponsorships and sports. This structure will include regional marketing leaders who will oversee multiple stations and markets. We encourage everyone to apply for roles on the new team.

Unfortunately, because not everyone will have a seat in the new structure, we have also created a transition period for marketing employees through mid-January.

We’re very thankful for the hard work and dedication of our marketing teams and the positive impact they’ve made in serving our communities."

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 terrible 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. While many employees can read the writing on the wall, why do most assume it’s targeted at someone else? Are you now wondering, Am I Next?