layoffs

Healthcare

23andMe Gives Up on its Drug Development Dream

Photo by Mike Mozart via CC BY 2.0

A treasure trove of genetic data may hold the key to a revolution in drug development, but it offers no clues for building a business.

2 min read
Industrials

Boeing Tries to Bury 17,000 Layoffs in Friday News Dump Extraordinaire

Photo by Sven Piper via Unsplash

Boeing announced 17,000 layoffs, a delay to the launch of its 777X passenger jet, and billions in charges related to ongoing strikes.

2 min read
Patent Drop

Lyft Seeks Micromobility Patents Amid Bike and Scooter Restructuring

Photo via U.S. Patent and Trademark Office

The company’s recent changes, aimed at “right-sizing [its] cost structure,” include layoffs and shifting focus from R&D.

2 min read
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

Photo by Kate Sade via Unsplash

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
Markets

Selling Cost-Consciousness is at the Forefront of Earnings Season

Photo by Tara Winstead via Pexels

Companies are consistently tossing out the phrase “operational efficiency” to show investors they’re protecting profit margins.

2 min read
Media & Entertainment

Digital News Media Has Fallen Off its New Millennium Perch

Photo by Brusk Dede via Unsplash

The toast of the early 2000s, many prominent news and lifestyle sites like Vice and Buzzfeed have fallen on hard times.

2 min read
Patent Drop

Google’s May Want to Keep Closer Track of User Hand Movements

Photo via U.S. Patent and Trademark Office

Despite layoffs in its hardware and AR departments, the company has filed a number of patent applications for extended reality tech.

2 min read
Media & Entertainment

Amazon Axes Hundreds of Employees Across Streaming Business

Photo by Thibault Penin via Unsplash

Amazon has announced hundreds of layoffs across its Prime Video, TV and film studios, and Twitch businesses.

2 min read
Personal Finance

Hiring Slowdowns Have MBA Grads Scrambling for a Plan B

(Photo Credit: Joshue Hoehne/Unsplash)

With economic uncertainty looming over the finance industry, a handful of the most popular firms have cut back their MBA hiring efforts.

2 min read