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Tag: Labour/Staff

  • Amazon plans to lay off another 9,000 employees

    Chief Executive Andy Jassy said in a statement that the company has added a significant number of employees in recent years, a move he defended as necessary given what was happening in Amazon’s business at the time. “Given the uncertain economy we live in, and the uncertainty that exists for the foreseeable future, we have […]

  • Virgin Orbit, Richard Branson’s satellite launch, has fallen fast

    Two months ago, Richard Branson’s Virgin Orbit VORB -9.14% Holdings Inc. was about to make history by launching the first satellites into orbit from the billionaire’s homeland of the UK That high-profile launch from Cornwall, England went badly, ending in the destruction of the satellite payload and sparking an investigation into what went wrong. Virgin […]

  • Uber, Lyft win as California court upholds right to treat drivers like contractors

    Uber Technologies Inc., UBER -0.93% Lyft Inc. LYFT -2.87% and other companies won a California court ruling that maintains their model of independent contractors in the state and could boost their efforts to maintain that model elsewhere. A state appeals court said workers should continue to be treated as independent contractors under a California ballot […]

  • Meta is planning new layoffs similar to last year’s

    Facebook Parental Meta Platforms Inc. META -1.20% plans to announce additional rounds of layoffs in the coming months that would total about the same as last year’s 13% headcount cut, according to people familiar with the matter. The new cuts, the first wave of which is expected to be announced next week, are likely to […]

  • Stocks extend weekly losses after job data, bank collapse

    The government said on Friday that US hiring grew solidly but cooled off in February as employers added 311,000 jobs, more than economists polled by The Wall Street Journal had expected. Unemployment rose slightly to 3.6%, still historically low. Meanwhile, regulators closed Silicon Valley Bank after a run on deposits thwarted the tech-focused lender’s plans […]

  • FTC Twitter investigation searched for Elon Musk’s internal communications, names of journalists

    WASHINGTON – The Federal Trade Commission has ordered Twitter Inc. demanded that internal communications related to owner Elon Musk be turned over, as well as detailed information about layoffs — citing concerns that staff cuts could jeopardize the company’s ability to protect users, documents viewed by the Wall Street Journal show. In 12 letters sent […]

  • The only 401(k) savers who haven’t lost money in the past year

    According to new data from Fidelity Investments, the only workers whose 401(k) balances grew in 2022 were Gen Z savers decades away from retirement. While the average nest egg among Fidelity’s accounts lost 23% in 2022, Gen Z employees born between 1997 and 2012 posted a 14% gain, according to the investment firm and retirement […]

  • Wayfair lost 5 million customers and $1.3 billion last year

    wayfair Inc. W -27.95% lost 5 million customers by 2022, reducing the online furniture retailer’s buyers to near its size before the Covid-19 pandemic triggered a surge in consumer spending. The Boston-based company’s revenue fell 4.6% from a year ago to $3.1 billion in the last three months of last year, for a net loss […]

  • Facebook Parent Meta gives thousands of employees substandard ratings

    Facebook Parental Meta Platforms Inc. META -2.66% gave thousands of employees subpar ratings in a recently completed round of performance reviews, a signal that more jobs may be cut, people familiar with the matter said. The company also cut a bonus metric, the people said, one of many steps senior executives are taking after CEO […]