Topline Apple announced Thursday it is lowering CEO Tim Cook’s annual compensation by more than 40% in 2023, after the billionaire recommended the dock in pay and analysts argued his ballooning compen...
Tag: Cut
Algonquin Power to cut dividend by 40%, provides downbeat profit outlook
Shares of Algonquin Power & Utilities Corp. AQN, -4.26% AQN, -4.67% turned lower to fall 2.2% in premarket trading Thursday, after the utility company said it was taking “decisive actions” to stre...
World Bank warns of global recession as growth forecasts cut for 2023
Just when the markets were beginning to feel a little more optimistic, a reminder of the predicament facing the world arrived. The World Bank cut its growth forecasts Tuesday, painting a grim picture ...
Coinbase to cut another 20% of its workforce in second wave of layoffs
Major cryptocurrency exchange Coinbase is starting 2023 with more layoffs, letting go of another 20% of its employees in a second major wave of layoffs. Coinbase CEO Brian Armstrong officially announc...
Coinbase lays off nearly 1000 jobs in second cut in…
Coinbase has announced that it will lay off around 950 staff in a bid to cut costs. Coinbase, one of the largest and most popular cryptocurrency exchanges in the world, has recently announced plans to...
House Republicans have voted to cut IRS funding
New U.S. Speaker of the House Kevin McCarthy, R-Calif., speaks with reporters in Washington, Jan. 7, 2023. Jon Cherry | Reuters House Republicans on Monday night voted to slash funding for the IRS, fo...
Coinbase to cut 20% of staff in latest round of layoffs
Coinbase has implemented another round of layoffs, affecting 950 employees and reducing its operating expenses by 25%. After examining the firm’s prospects for 2023, Coinbase CEO Brian Arm...
Huobi Korea Plans to Cut Ties With Parent Company, Strengthen Domestic Presence – Bitcoin News
According to a report from South Korea, the Korean subsidiary of Huobi Global is planning to cut ties with the parent company. The management of the trading platform stated that they plan to “strength...
America’s top 10 bestselling cars of 2022: Tesla makes the cut
A Tesla Model Y on display inside a Tesla store at the Westfield Culver City shopping mall in Culver City, California, U.S., on Thursday, April 14, 2022. Bing Guan | Bloomberg | Getty Images DETROIT —...
Can I Harness the Bear Market to Cut My RMDs and Tax Bill?
I am currently in a 12% tax bracket and attempting to convert as much money as I can to a Roth individual retirement account (IRA) without going into the next bracket. I am trying to do this to reduce...
Crypto exchange Huobi says it will cut staff by 20%
After days of rumors surrounding layoffs at Huobi, the Singapore-based crypto exchange confirmed it would cut about 20% of its overall staff. “The planned layoff ratio is about 20%, but it is no...
Silvergate sold assets at loss and cut staff to cover $8.1B in withdrawals: Report
The FTX debacle has triggered a bank run on Silvergate, causing the company to sell off its assets at a loss and cut staff by 40% to cover $8.1 billion worth of customer withdrawals. According to a re...
Stitch Fix CEO steps down, 20% of salaried workforce to be cut
Katrina Lake, CEO of Stitch Fix Adam Jeffery | CNBC Stitch Fix founder Katrina Lake on Thursday told employees the company will be cutting 20% of its salaried workforce and she will reassume her post ...
Amazon to Cut 70% More Jobs Than Previously Planned, WSJ Says
(Bloomberg) — Amazon.com Inc. is laying off more than 17,000 employees — a significantly bigger number than previously planned — in the latest sign that a technology slump is deepening, accordin...
Core Scientific will cut power to 37,000 Celsius miners: Bloomberg
Core Scientific will cut off power to 37,000 mining rigs for which Celsius still owes payment, the two now-bankrupt companies agreed. Bloomberg first reported the news. The agreement marks the ...
Apple Stock Falls Amid Report Of Product Orders Being Cut In Asia
Apple stock got off to a slow start in 2023 as shares fell on a report that the company has cut MacBook, Apple Watch and AirPod orders from Asian suppliers. Fiscal first-quarter earnings for Apple (AA...
When CEOs Take A Pay Cut, What Difference Does It Make?
When firms are in trouble, it’s not unusual for CEOs to cut their own salaries. As the pandemic wreaked havoc on the economy, many executives opted to receive smaller wages. Whether this helps the com...
Dow Jones Falls After Housing Data As Apple Hits New Low; Tesla Plunges On Production Cut Plan
The Dow Jones Industrial Average dropped 130 points Tuesday, after an early dose of economic data launched the short, final trading week of the year. Tesla stock dived more than 7% after Reuters repor...
A Tesla Bull Sees Demand Softening. The Price Target Is Cut Again.
Elon Musk’s actions with Twitter aren’t the only thing concerning Tesla fans as the electric-vehicle stock heads for its worst-ever quarter. Tesla (ticker: TSLA) is now facing competitive headwinds in...
Micron to Cut 10% of Workforce as Demand for Computer Chips Slumps
(Bloomberg) — Micron Technology Inc., the largest US maker of memory chips, said the worst industry glut in more than a decade will make it difficult to return to profitability in 2023. Most Rea...
Child Online Privacy Protections Cut From Congress’ Spending Bill Despite Last-Minute Push
Topline A pair of bills designed to strengthen online protections for children was left out of a fiscal year 2023 spending plan Congress is aiming to pass this week, despite heightened concerns about ...
League of Legends’ Developer Wants to Cut All Ties With FTX (Report)
Riot Games – an American company famous for developing the video game League of Legends – reportedly filed a motion to end its collaboration with FTX. The collapsed crypto platform has caused “reputa...
Millionaires plan to cut their holiday spending due to inflation
American millionaires are trimming their holiday spending and becoming more budget-conscious as a result of inflation, a sign that spending cuts are now rising up the wealth ladder, according to a CNB...
Look for a big cut to TSMC’s 2023 outlook as a bullish sign for chips, one analyst says ahead of earnings
The best thing Taiwan Semiconductor Manufacturing Co. can do in its earnings report Thursday is to cut its outlook for 2023 big, indicating a bottoming in the first half of the year, according to one ...