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US weekly jobless claims increase to four-month high; worker productivity revised down
US weekly jobless claims rose to their highest level in four months, reflecting seasonal volatility but signaling a stable labor market amid ongoing economic uncertainty.
Crypto exchange Coinbase to cut about 14% of workforce in AI-driven restructuring
Coinbase plans to cut about 700 jobs, or 14% of its workforce, as it restructures around AI amid crypto market volatility and subdued trading volumes.
Meta shares jump after Reuters report on plans for layoffs of 20% or more
Meta Platforms plans to cut 20% or more of its workforce to offset heavy AI spending, aiming for significant cost savings and productivity gains, Reuters reports.
Dow to cut 4,500 jobs, forecasts weak revenue amid sluggish demand
Dow plans to cut 4,500 jobs as part of a restructuring aimed at boosting profitability amid weak global demand.
Amazon plans thousands more corporate job cuts next week
Amazon plans another round of corporate job cuts next week as it moves toward eliminating about 30,000 roles companywide.
UPS cuts 48,000 jobs in the year to date as its turnaround continues
UPS cut about 34,000 jobs and closed 93 facilities this year as part of its cost-cutting turnaround and restructuring plan.
Amazon cuts 14,000 corporate jobs as spending on artificial intelligence accelerates
Amazon will cut about 14,000 corporate jobs as it reduces bureaucracy and boosts investment in artificial intelligence.
Nestlé to cut 16,000 jobs worldwide in cost-saving push
Nestlé plans to cut 16,000 jobs globally by 2027 as part of a cost-saving and turnaround strategy aimed at boosting efficiency.
Starbucks to close stores, cut more jobs as CEO deepens restructuring
Starbucks will close underperforming stores and cut 900 jobs as CEO Brian Niccol pursues a $1B restructuring to revive sales and efficiency.
Pharma packaging plant closing in Mecklenburg
Nipro PharmaPackaging will close its Mecklenburg County facility by October, according to a local official, cutting 30 jobs.
Butler Human Services Furniture to close Mecklenburg operations
Butler Human Services will close two Chase City facilities in Mecklenburg County, cutting 51 jobs.
Novo Nordisk, maker of obesity drug Wegovy, to cut 9,000 jobs to sharpen focus, meet competition
FRANKFURT, Germany (AP) — Danish pharmaceutical company Novo Nordisk, maker of weight-loss drug Wegovy, said Wednesday it would cut 9,000 jobs, 5,000 of them in Denmark, in order to strengthen the company’s focus on growth opportunities in obesity and diabetes medications. The restructuring, which would eliminate 11% of the company’s workforce, aimed to reduce organizational [&hellip[...]
