Luxury Electric Vehicle Maker Becomes Latest In Industry To Announce Huge Layoffs
Electric vehicle (EV) maker Lucid Motors has announced job cuts as it seeks to cut costs in the wake of a slowing market. The layoffs affect 6% of the company’s workforce, or about 400 people. trim From all employee levels, including leadership and middle management, according to Lucid is one of several electric vehicle makers […]
Media Matters hit with sweeping layoffs after defamation suit by Elon Musk, federal probes
Liberal watchdog group Media Matters fired at least 12 staff members on Thursday, with executives and some of the fired journalists blaming X Inc. owner Elon Musk for the cuts. The billionaire tycoon sued the Washington, DC-based nonprofit. Defamation in November of last yearThey accused the company of fabricating images showing advertisements for major companies […]
ABC staffers blame ‘GMA3’ host’s biker-shorts pics on layoffs of social-media ‘nannies’ at network
ABC News staff blames scandal Provocative Instagram photo posted by Good Morning America 3 co-host DeMarco Morgan Last year’s wave of layoffs resulted in casualties among executives tasked with monitoring the social media accounts of the station’s on-air talent, the Post reported. The Post reported on Wednesday that ABC News executives sounded the alarm over […]
Under Armour CEO Plank Warns Of Plunging Sales and Layoffs Ahead
Under Armor is walking the plank again. On Thursday, the company announced earnings that fell short of Wall Street expectations, and co-founder Kevin Plank, who returned to the reins in March, warned that the sportswear brand’s revival will take time. Plank said the company expects sales to decline by more than 10% this fiscal year […]
Warner Bros. Discovery hiking Max price, mulling layoffs: report
Warner Bros. Discovery is considering additional opportunities to reduce costs and increase prices for its Max streaming platform. Bloomberg News reported Wednesday, citing people familiar with the matter. The cost-cutting plan could reportedly include possible job cuts at the media company, which has already cut more than 2,000 positions over the past year. The company’s […]
Hollywood CEOs Received Big Compensation Increases Amid Mass Layoffs
In liberal Hollywood, the rich got richer and everyone else got poorer or fired. In 2023, Hollywood CEOs and other top executives were buzzing like bandits, with nearly every studio head receiving a hefty raise or raise. Their windfall stands in stark contrast to employees who had to endure mass layoffs, budget cuts, and two […]
Layoffs at Byron Allen’s media company will hit 12% of workforce: sources
Job cuts at Byron Allen’s media company this week will affect about 300 employees, or 12% of the company’s 2,500-strong workforce, the Post reported. The layoffs at Allen Media, which operates the Weather Channel and owns 12 cable networks and 27 ABC, CBS, Fox and NBC television stations in 21 markets, are the first in […]
Peloton CEO Steps Down amid More Layoffs, 92% Drop in Stock Price
Peloton, the once thriving fitness company, is in trouble again as it struggles to regain its footing in the post-pandemic era. CEO Barry McCarthy is stepping down after the company’s stock price fell about 92% during his tenure. The Verge report Peloton recently announced new layoffs affecting approximately 400 employees, representing 15 percent of its […]
CA’s minimum wage law causing mass layoffs
Chef Andrew Gruel discusses how California’s minimum wage hike is resulting in layoffs on ‘The Bottom Line.’ Subscribe to Fox … source
NY Firefighter Dies Months After City Layoffs from Migrant Crisis
A New York City firefighter has died of a heart attack, months after he was fired over the city’s cost-cutting measures in response to the ongoing immigration crisis. Derek Floyd, 36, reportedly went into cardiac arrest and died earlier this month, four months after the city cut staff and reduced housing and services costs for […]