layoffs

Finance

PwC Slashes 1,800 Jobs in First Mass Cuts Since 2009

Photo by Wirestock via iStock

PricewaterhouseCoopers said it will lay off 1,800 staff members at its US unit next month. It will impact 2.5% of the unit’s employees.

1 min read
Media & Entertainment

CNN Announces Layoffs, New Digital Subscription Business

Photo by Chris Yarzab via CC BY 2.0

CNN announced layoffs of 100 employees, a reorganization of its newsrooms, and its “first direct-to-consumer subscription product.”

2 min read
Banking

UBS Mulls a Massive Cost-Cutting

Photo by Claudio Schwarz via Unsplash

The slow integration of Credit Suisse has only exacerbated existing problems with UBS’s asset management unit.

1 min read
Real Estate

Big Tech Offloads Office Space, Putting Commercial Landlords in Flux

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Some of the more reliable office building tenants are reversing course by letting leases expire or subleasing space across major cities.

2 min read
Banking

US Banks Push Back on High Severance Costs in Paris

Photo by Rodrigo Kugnharski on Unsplash

The Americans have warned that further inroads to France’s capital may not happen without some dismissal-pay flexibility.

2 min read
Consumer

Joann Fabrics Mulls a Bankruptcy Filing

Photo by Mike Mozart via CC BY 2.0

The crafts retailer may have a deal to keep operating, but it faces a long-term debt load of $1.1 billion.

1 min read
Technology

The Video Game Industry Keeps Bleeding Jobs

Photo by Sora Khan via Unsplash

Sony and EA both cut their workforce this week as the sector deals with a drop in post-pandemic demand.

2 min read
Autos

Luxury EV Startups Rivian and Lucid Face a Tough Road

Photo by Leo_Visions via Unsplash

The companies continue to lose massive amounts of money as consumers are turning to cheaper hybrids and traditional gas-powered vehicles.

2 min read