Okta says it will slash 400 jobs
The ‘Making Money’ host reacts to the cautious market ahead of the release of the December jobs report. Okta will cut 7% of its workforce as part of its restructuring. The layoffs announced Thursday will result in approximately 400 Okta employees losing their jobs, according to a filing with the Securities and Exchange Commission. In […]
Ford will slash production of electric pickup, citing weak demand
Ford is cutting production of its F-150 Lightning electric pickup truck due to weak demand. The automaker is cutting production of “America's best-selling electric pickup” to achieve the “optimal” balance of profitability, sales growth and production. The company announced on Friday. The move marks the latest cuts in the electric vehicle (EV) sector as customer […]
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 […]
The Biden administration's plan to slash bank overdraft fees, explained – Vox.com
The Biden administration is was suggested New rules to curb overdraft fees that occur when consumers withdraw more than the available funds in their bank accounts. According to the Consumer Financial Protection Bureau (CFPB), banks currently collect about $9 billion a year in overdraft fees, and people who pay overdraft fees pay an average of […]