Jeld-Wen Layoffs: What's the Real Story?

Okay, so JELD-WEN, the door and window people, are laying off 850 folks. Company-wide. Eleven percent of their North American workforce, gone. Just like that.

The Usual Suspects

Net operating loss of $378 million. That's the official story, according to their third-quarter earnings report. "Persistent market headwinds and price-cost pressures," blah, blah, blah.

Give me a break.

"Strategic review" of their European business? What's that even mean? Sounds like corporate speak for "we're gonna sell off the parts that still make money and blame it on the economy." CEO William Christensen says it's about "optimizing our portfolio and aligning resources." Translation: "We screwed up, and now we're making you pay for it." You can read more about the JELD-WEN Announces Strategic Review of its Europe Business in their official statement.

This ain't even the first round of layoffs this year. Iowa got the axe back in March. And last year? More cuts. More closed factories. It's like watching a slow-motion train wreck, except instead of twisted metal, it's people's lives getting mangled.

I gotta wonder, where's all that sweet, sweet government money going? You know, the kind they got when they opened that Statesville plant back in 2021? Seven million bucks to hire 235 people. How many of those folks are still around, I wonder? Probably zero.

And what about Charlotte? Their HQ is right here, with almost 300 employees. Are they safe? JELD-WEN ain't talking. Shocking, I know.

Numbers Don't Lie (But They Sure Do Confuse)

Thirteen-point-four percent decrease in net revenues. Or, as normal people say, they lost $125.2 million. North America's the real loser, down almost 20%. Europe, on the other hand, is up a little. Which makes their "strategic review" even more suspicious, doesn't it?

Oh, and tariffs. Gotta love those tariffs. JELD-WEN figures they're gonna eat $45 million this year. That's a lot of doors...or, you know, the money they would have made selling them.

Low market demand. New home construction is down. Home repair is down. Everything's down. So, naturally, the answer is to fire a bunch of people. Makes perfect sense. If you're a soulless corporate robot, that is.

It's like watching a magician try to saw a woman in half, but instead of a glamorous assistant, it's the middle class. And instead of applause, you get a pink slip.

Beyond the Bottom Line

Here's what really pisses me off: the complete lack of transparency. JELD-WEN didn't respond to requests for comment. Ofcourse not. Why bother explaining yourself when you can just issue a press release full of empty platitudes?

They expect us to believe this nonsense, and honestly...are we really surprised? This is the game. Corporations bleed profits, blame the economy, and then pat themselves on the back for "optimizing" their "portfolio."

And the people who get screwed? They're just collateral damage. Numbers on a spreadsheet.

Then again, maybe I'm just being cynical. Maybe JELD-WEN really is doing everything they can to stay afloat. Maybe the economy really is to blame.

Nah.

Another Day, Another Corporate Disaster

Look, this is the world we live in. Companies make promises they can't keep, they chase profits at any cost, and when things go south, they cut and run. It's ugly, it's predictable, and it's probably gonna happen again next week. Might as well get used to it.