Boeing to cut 10% of workforce, halt most 767 production amid labor union strike
Peter McNally, head of global analyst at Third Bridge, spoke on “The Big Money Show” about how the Boeing factory workers' strike is impacting business. Boeing plans to lay off 10% of its workforce, or about 17,000 people, and cut production in the coming months as union strikes continue. Chief Executive Officer Kelly Ortberg, who […]
Bipartisan border bill would help the economy, bring migrants into the workforce
Vice President Kamala Harris' best defense against accusations of being weak on immigration was that she supported a bipartisan border security bill, whereas former President Donald Trump opposed it and supported Republicans in Congress. He instructed his parliamentary colleagues to vote against it. Ultimately, this bill provides much of what immigration hard-liners have asked for, […]
Warner Music slashing 750 jobs — or 13% of workforce — in major restructuring
Warner Music Group said on Thursday it would lay off about 750 employees, or 13% of its workforce, as part of a strategic restructuring plan it is reviewing to free up capital. In February, Warner Music, which represents artists such as Dua Lipa and Teddy Swims, announced it would cut 600 employees, about 10% of […]
Paramount Advertising Hit with Layoffs After 15% Workforce Cuts
Paramount Advertising has been forced to cut jobs after Paramount Global cut its U.S. workforce by 15%. “Paramount Advertising has become the latest victim as the media giant cuts 15% of its U.S. workforce in a bid to cut $500 million in annual costs across the company,” the report said. The Wrap. The exact number […]
Gwyneth Paltrow’s Goop slashing 18% of workforce to focus on beauty products
Gwyneth Paltrow's Goop is reportedly planning to cut about 20% of its workforce as it moves away from its image as a wellness and lifestyle brand and focuses on selling beauty products. The company, which rose to fame with products like the “This Smells Like My Vagina” candle and psychic vampire repellent spray, has struggled […]
Mastercard to Cut 3% of Workforce Amid Previously Announced Reorganization – PYMNTS.com
MasterCard The company reportedly plans to lay off about 1,000 employees, or 3% of its global workforce, as part of a restructuring announced earlier this year. Most employees affected by the move are expected to be notified by the end of the quarter, according to Reuters. Reported The announcement was made on Friday (August 16th), […]
Wedding giant The Knot Worldwide cuts 4% of workforce in restructuring
Wedding-planning giant Knot Worldwide cut about 4% of its global workforce this week as part of an internal restructuring, according to information obtained by The Washington Post. About 100 employees in The Knot’s sales and marketing departments have been laid off, according to a person familiar with the matter. The company began notifying affected employees […]
Paramount Global to Cut 15 Percent of Its Workforce
Amid uncertainty about the future of the entertainment industry, Paramount Global is reportedly reducing its workforce by 15 percent in a new round of layoffs. The reported cuts aim to reduce Paramount’s spending by $500 million in 2025, and will be focused primarily on marketing, communications, legal and technology. Paramount Global co-CEO Chris McCarthy announced […]
1.2 Million Fewer Americans in Workforce as ‘All’ Job Growth Goes to Foreign Workers
Under the leadership of President Joe Biden and Vice President Kamala Harris, the U.S. economy is disproportionately benefiting foreign-born workers more than native-born Americans, according to a new Bureau of Labor Statistics report. report reveal. In July, the number of employed Americans fell by 1.2 million from a year earlier. At the same time, the […]
10% of Massachusetts workforce can’t speak much English: Report
About 10% of Massachusetts’ workforce has “limited English proficiency,” according to a new report from two DEI-advocacy organizations. On Monday, MassINC, a nonprofit that promotes “inclusive” economic opportunity in Massachusetts, and the UMass Donahue Institute, which wants to “advance equity and social justice” as part of the University of Massachusetts President’s Office’s public and economic […]