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Not really comfortable celebrating this milestone anywhere else…
41/M/VHCOL
Approximate 1.7 in brokerage (mostly VTUX), 1M in IRA, 300k cash in HYSA. House paid off (650k).
Still earning well (380k) but I suspect this will be my last full time gig.
Why did they drop almost 6%? Is it random and likely to bounce back tomorrow?
Recently read that they announced layoffs of 1500 employees. Not sure how recently that was announced
They got a subpoenaed by federal courts that are looking into possible breaches of compliance with regulations surrounding PFAS chemicals (which are hazardous). They set aside over $200 million to deal with this, and they laid off 1,500 workers.
Basically the title. There were some recent layoffs, but the company is now saying this. The fact that it says "company-wide" makes me feel like it's still possible for individual teams/departments to be affected.
Should I be worried in the short to long term about this? Has anyone experienced a company saying this and then continuing layoffs anyway?