Levi Strauss slashing corporate jobs, looking to go upscale under new CEO Michelle Gass
Levi Strauss Co. on Thursday said it expects annual sales and profits to fall short of Wall Street expectations and will cut 10 to 15 percent of its global workforce as the denim maker seeks to control costs amid a weak wholesale business. Levi attributed the weak outlook to the company's withdrawal from the Denizen […]
CNN commentator throws cold water on employment numbers for Black Americans: They’re ‘crappy jobs’
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SAP to restructure 8,000 jobs in push towards AI, shares hit record
Qualcomm President and CEO Cristiano Amon reveals how AI can change the way Americans drive on “Craman Countdown.” SAP SE stock prices rise after the German software company announced it would restructure the roles of 8,000 jobs to forecast growth in cloud revenue and focus on growth in artificial intelligence (AI)-driven business areas. , soared […]
There Are Jobs in the Black Community, But ‘They’re Crappy’
On Tuesday's “CNN This Morning” broadcast, CNN political commentator and former Obama aide Van Jones said that while there are good employment numbers in the black community, “those are crap jobs.” asked co-host Phil Mattingly.[T]The Biden team has always tried to sell the economy as great when you look at the top-line numbers, defying all […]
The LA Times slashed at least 115 newsroom jobs amid financial woes
The Los Angeles Times announced Tuesday it would cut at least 115 jobs, or more than 20% of its 500-person newsroom, one of the largest layoffs in the paper's 142-year history. The layoffs come at a precarious time for the publisher, which is facing another year of heavy losses, as well as allegations of editorial […]
SolarEdge eliminating 16% of jobs
Former Energy Secretary Rick Perry talks about the future of nuclear energy and fossil fuels on “Varney & Co.” SolarEdge, which makes inverters for solar panels, will cut about 16% of its workforce. The company announced Sunday that approximately 900 people will lose their jobs in a restructuring plan “designed to reduce operating expenses and […]
Ford to cut F-150 Lightning production, 1,400 jobs affected
Former White House OMB Director Russ Vought talks about the cost of Biden's environmental policies after Ford cut production of the F-150 Lightning EV in half on “Kabuto: Coast to Coast.” Ford announced Friday that it will cut production of the F-150 Lightning due to declining demand for electric pickup trucks. The company announced that […]
Macy’s to slash 2,350 jobs, close 5 stores in streamlining effort: report
The Barron's Roundtable panel provides insight into investments in Macy's, Nordstrom, and Gilead Sciences. Macy's, the famous retailer, plans to close five stores and lay off more than 2,000 employees, the Wall Street Journal reports. WSJsaid the retail giant plans to lay off about 2,350 positions, or 3.5% of its workforce, citing a memo sent […]
Citigroup CEO Jane Fraser begins plan to ax 20,000 jobs after dismal Q4: sources
Citigroup Chief Executive Jane Fraser held a conference call Thursday with managing directors to announce a sweeping overhaul of the bank that will cut more leadership roles starting this week, two people familiar with the situation said. We talked about it. Managers in the markets, risk and investment banking divisions will be let go as […]
Macy’s slashing over 2K jobs, closing five stores amid pressure to go private
Department store chain Macy's will cut 2,350 jobs and close five stores as it seeks to streamline its operations, a company spokesperson told Reuters on Thursday. The layoffs represent 3.5% of Macy's total workforce. As of January 2023, the company operated 722 stores and employed 94,570 full-time and part-time employees, excluding seasonal employees. Reuters reported […]