Post any information about potential or actual Eastman Chemical layoffs? Any chatter, news or rumors?
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More layoffs coming as dividend holds and promises of buybacks increasing this year. At the same time these layoffs are occuring there is massive attrition. Debt is up. Morale is at an all time low. The ceo's strategy is failing (specialty chemicals less cyclical - lol). The whip is out for massive cost cuts for q3 so that hopefully the CEO can "appear" to be competent to wall street.
"up to 5% of employees is the rumor"
Layoffs confirmed this week. Pure greed and ego. Ceilings leaking, toilets not working, equipment failing and not being maintained. Can no longer keep contractors for cutting them so hard.....10 years of this consultant CEO might be irreversible for this once great company.
During this week (3/11/25), Eastman has done layoffs.
In the 5 years I worked there they had 4 rounds of layoffs. Nothing announced for 2025 yet. Business seems to be going well. But I'd expect them to have some layoffs sooner or later - they always do. Heartless...