GM Cuts IT Jobs As AI Reshapes Workforce
Layoffs Hit Technology Teams General Motors laid off about 500 to 600 employees on Monday, largely affecting information technology roles in Austin, Texas, and Warren, Michigan. The cuts come as the Detroit
Disney Rises As New CEO Outlines Strategy
D’Amaro Sets A Clear Direction Walt Disney shares rose nearly 8% in early trading after new chief executive Josh D’Amaro outlined his strategy for the entertainment group. Speaking on his first earnings
Spirit Shutdown Empties LaGuardia Terminal
A Sudden Collapse Hits Terminal A The abrupt shutdown of Spirit Airlines has left LaGuardia Airport’s Marine Air Terminal nearly deserted, turning one of New York’s most historic aviation spaces into a
Dine Brands Revamps Applebee’s and IHOP Amid Sales Decline
Dine Brands, the parent company of Applebee’s, IHOP, and Fuzzy’s Taco Shop, is launching a bold initiative to modernize its restaurant chains as it faces declining sales and shifting consumer habits. Challenges
Macy’s Forecasts Weak Sales and Profit as Tariffs Weigh
Macy’s projected lower-than-expected annual sales and profit on Thursday, highlighting ongoing struggles for U.S. retailers facing reduced consumer spending and new trade restrictions. Shares of the company fell 3% in early trading
Disney to Cut Nearly 200 Jobs at ABC News and TV Networks
The Walt Disney Co. is laying off just under 200 employees at ABC News and its Disney Entertainment Networks division as the traditional TV industry faces ongoing economic challenges, according to a
Target Expands Marketplace, Delivery to Boost Growth
Target plans to accelerate growth by expanding its third-party marketplace, media network, and same-day delivery services, aiming to drive more than $15 billion in revenue growth over the next five years, the
Citigroup Accidentally Credits $81 Trillion in Banking Blunder
Citigroup mistakenly credited $81 trillion — instead of the intended $280 — to a customer’s account in April, highlighting ongoing operational issues the bank has been striving to resolve. The error was
Rolls-Royce Sees Weak Profit Despite Revenue Growth in 2024
Rolls-Royce Holdings Plc (RYCEF.PK, RR.L, RYCEY.PK) reported weaker-than-expected profit for fiscal 2024 on Thursday, despite an increase in revenues. The British aerospace and defense giant attributed its performance to a challenging supply
Jeff Bezos Overhauls Washington Post Opinion, Sparks Backlash
Washington Post owner Jeff Bezos announced a sweeping overhaul of the newspaper’s opinion section on Wednesday, prompting editorial page editor David Shipley to resign. The changes, which Bezos outlined in a company-wide
Starbucks Cuts 1,000 Jobs and Trims Menu to Boost Sales
Starbucks announced on Monday it will lay off over 1,000 corporate employees and eliminate complex and unpopular drinks from its menu in an effort to reverse declining sales and revitalize the coffee
Apple to Invest $500 Billion in U.S., Build New Texas Factory
Apple announced on Monday its plan to invest over $500 billion in the United States over the next four years, including hiring 20,000 people and building a new server factory in Texas.
Meta Increases Executive Bonuses Amid Layoffs and Growth
Executives at Meta are set to receive bigger bonuses this year after the company approved an increase in the target bonus percentage for its annual executive bonus plan. According to a corporate