Tag: Jobs
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Lucid is cutting 1,300 employees amid signs of declining demand for its electric cars
Lucid said in a regulatory filing that it is cutting about 18% of its workforce, or about 1,300 employees. In a letter to employees, CEO Peter Rawlinson said the job cuts “will affect almost every organization and every level, including executives.” The company expects to incur $24 million to $30 million in costs associated with […]
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AI automation could affect 300 million jobs – here’s which one
According to a Goldman Sachs report, artificial intelligence could automate up to a quarter of work in the US. Dowell | Even | Getty Images As artificial intelligence products like ChatGPT aim to become a part of our daily lives and we learn more about how powerful they can be, one thing on everyone’s mind […]
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Park outside: Hyundai, Kia are recalling vehicles due to fire hazards
Hyundai and Kia on Friday told owners of more than 571,000 SUVs and minivans in the U.S. to park them outside because the towbar harnesses could catch fire while parked or being driven. (David Zalubowski, Associated Press) Estimated reading time: 1-2 minutes DETROIT — Hyundai and Kia are telling the owners of more than 571,000 […]
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Shares of Indonesia’s GoTo fall as losses reach $2.6 billion by 2022
Shares of Indonesian GoTo fell 2.78% in early trading hours on Tuesday after the company reported a larger net loss in 2022. Although its adjusted EBITDA loss improved in Q4 2022, the company still lags competitors such as Grab and Sea Limited, DBS analyst Sachin Mittal said. GoTo management previously promised costs, including two rounds […]
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Asia is facing a shortage of employees who can fill technical roles: Seek Asia
The workforce in Asia is short of people who have the skills to fill technical positions in companies, Peter Bithos, CEO of job portal operator Seek Asia, told CNBC’s “Squawk Box Asia.” Despite layoffs at tech companies, almost “every sector of the economy outside of technology” is hiring tech workers, Bithos explained. Tech jobs in […]
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What Silicon Valley Bank means for markets
People line up outside the closed headquarters of the Silicon Valley Bank (SVB) on March 10, 2023 in Santa Clara, California. Justin Sullivan | Getty Images This report comes from today’s CNBC Daily Open, our new newsletter for international markets. CNBC Daily Open brings investors up to speed with everything they need to know, wherever […]
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investors await key jobs data
US Treasury yields fell Friday as investors awaited key jobs data that could affect future interest rate decisions from the Federal Reserve. At 4:28 am ET, the 10-year Treasury was trading at 3.8354% after falling nearly nine basis points. The yield on the 2-year Treasury fell more than seven basis points to 4.8285%. Yields and […]
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Shark Tank’s Kevin O’Leary blasts Ocasio-Cortez: ‘She’s killing thousands of jobs’
“Shark Tank” investor Kevin O’Leary accused Rep. Alexandria Ocasio-Cortez (DN.Y.) said on Friday that she was “good at killing jobs” and making New York City “uninvestable.” “She’s great at killing jobs. She’s killing thousands of jobs,” O’Leary said during an interview on CNN This Morning. He also blamed politicians for making New York City “uninvestable”, […]
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Markets rallied on renewed hopes for a 25 basis point gain
Raphael Bostic, president and chief executive officer of the Federal Reserve Bank of Atlanta, at a conference in Dallas, Texas, U.S., on Thursday, May 24, 2018. Cooper Neil | Bloomberg | Getty Images This report comes from today’s CNBC Daily Open, our new newsletter for international markets. CNBC Daily Open brings investors up to speed […]