Crypto bank Anchorage Digital announced it would be letting go of 75 employees, representing approximately 20% of its workforce, citing regulatory uncertainty in the United States as a factor in its d...
Tag: Cuts
Crypto bank Anchorage Digital cuts 20% of staff amid regulatory uncertainty, market volatility
Anchorage Digital, the only federally chartered crypto bank in the U.S., said Tuesday that it would cut about 20% of its staff amid regulatory uncertainty in the U.S., macroeconomic challenges and cry...
What next after SVB collapse? 30% chance of interest rate cuts by the summer
That escalated quickly. Silicon Valley Bank (Nasdaq: SIVB) is no more, the biggest banking casualty since Lehman Brothers shocked the world in 2008. In came the US administration, pulling out emergen...
Tesla Price Cuts Trigger Desperate Fight For Survival In China’s EV Market
The China EV price war has reached a fever pitch — kicked off by Tesla — with the mass market the new battlefront in the world’s largest and fastest-growing market for electric vehicles. X Chine...
House Conservatives Propose Spending Cuts
Topline The right-wing House Freedom Caucus wants to slash President Joe Biden’s student loan bailout program, rescind all Covid-19 funding and cap future federal spending over the next 10 years at fi...
Biden’s new budget cuts $31 billion in tax breaks for oil companies
President Biden’s 2024 budget released Thursday includes yet another broadside from the White House against oil companies. The budget proposal — which Republicans have said is going nowhere on Capitol...
Biden’s budget wants tax hikes, but expiring Trump tax cuts are the big showdown
For five years, most Americans have seen lower income-tax rates and tapped a bigger standard deduction, but without congressional action before the end of 2025, the rules could still revert to levels ...
Marathon Digital Pays Off Term Loan, Cuts Credit Facilities With Silvergate
Marathon Digital Holdings has announced the repayment of its term loan and the termination of its credit facilities with Silvergate Bank, resulting in a $50 million reduction of debt, according to a s...
Adidas warns of first annual loss in three decades and cuts dividend after Ye split
“The numbers speak for themselves. We are currently not performing the way we should”, Adidas CEO Bjørn Gulden said in a press release. Jeremy Moeller / Contributor / Getty Images Adidas o...
GE Cuts Down Its Stake In Aircraft Lessor AerCap
AerCap Holdings N.V. (NYSE: AER) announced that a subsidiary of General Electric Company (NYSE: GE) is offering 18 million shares of AerCap through an underwritten public offering. GE subsidiary GE Ca...
Immutable “Quietly” Looks to Raise Cash Following Job Cuts: Report
Australian startup Immutable, creator of Ethereum Layer-2 project ImmutableX, is reportedly trying to sell a certain amount of its IMX tokens to private investors via a related entity. Digital Worlds ...
SiriusXM cuts 475 jobs in reorganization
Sirius XM is the latest media company to announce a round of layoffs The car radio subscription company, known for its commercial-free music and talk radio channels, said Monday it is cutting 8% of it...
Alphabet’s Waymo Self-Driving Unit Cuts Over 130 Employees, Reports Say
Alphabet’s self-driving car unit Waymo is reportedly cutting more than 130 employees in its second round of layoffs this year—making it the latest U.S. company to reduce its headcount, following major...
China Hotpot Chain Surges 20% as Covid Cost Cuts Bear Fruit
(Bloomberg) — Shares of China’s hotpot chain Haidilao International Holding Ltd. jumped the most in a year after the firm forecast a return to profitability, underscoring bets for a revival in c...
Newmont Earnings Fall Short; NEM Cuts Dividend Based On Gold Prices
Newmont (NEM) posted Q4 earnings that just missed analyst estimates amid higher costs. The gold-mining giant also slashed its quarterly dividend, but gave upbeat longer-term production guidance, citin...
Solana [SOL] cuts into last week’s gains, retests 50% Fib level
Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion. SOL shrank 9% in the last 24 hours. Falling open ...
Rate cuts potentially off the table for 2023
Quick Take The fed funds rate now implies that rate cuts are off the table for 2023 and are expected to remain higher for a longer time frame in the year. As the year progresses, rate hikes are expect...
Paxos in Constructive Discussions with SEC on BUSD Long-Term Prosperity, Cuts Ties with Binance
Paxos has facilitated the redemptions of about $2.8B in BUSD since halting new mints on February 21. Paxos Trust Company, a New York-based financial institution and technology company specializing in ...
Immutable carries out second round of layoffs in seven months, cuts 11%: SMH
People • February 22, 2023, 4:58AM EST Australian blockchain gaming firm Immutable cut 11% of its staff — the second round of layoffs since the end of July — according to the Sydney Morning Herald. &...
Polygon Cuts Headcount by 20% Despite Holding $2B in Treasury
A co-founder of Ethereum layer two solution Polygon Labs has announced that the company will lay off 20% of its staff to “unify the company.” According to Sandeep Nailwal, the firm will reduce its he...
McKinsey Reportedly Cuts 2,000 Employees
Major consulting firm McKinsey & Company plans to cut 2,000 employees, Bloomberg reported Tuesday, citing sources familiar to the matter—following major layoffs this month at DocuSign, KPMG, Twili...
Polygon Labs Becomes Latest Company to Slash Workforce With 100 Job Cuts
Polygon Labs announced that it will reduce its team by 20% while stating that the company maintains a robust treasury. Meanwhile, the job cut comes shortly after the firm outlined plans at the end of ...
Polygon MATIC price drops as Polygon Labs cuts workforce by 20%
Polygon price (MATIC/USD) has plunged by more than 5% after Polygon Labs, the firm behind the Polygon blockchain announced that it had reduced its workforce by 20%. Polygon earlier last year consolida...
Polygon Labs cuts staff by 20% in consolidation
Polygon Labs announced plans to reduce headcount by 20%, with about 100 staff affected. The firm noted it “consolidated multiple business units” under the Polygon Labs banner earlie...
Russian Oil Exports Surge With Days to Go Until Cuts Begin
(Bloomberg) — Russia’s seaborne crude exports jumped last week, with just days to go before the world’s third-largest producer is due to cut output. Most Read from Bloomberg The coun...
Amazon Cuts Ties With EU Distributors
. (Photo by Smith Collection/Gado/Getty Images) Getty Images AmazonAMZN is cutting ties with its EU distributors and will source goods directly from the brands. It is another step by CEO Andy Jassy, 5...