Customers shop at a Best Buy store on August 24, 2021 in Chicago, Illinois. Scott Olson | Getty Images Best Buy on Wednesday cut its forecast for its fiscal year and second quarter, saying it has seen...
Tag: Cuts
Vox Media cuts staff, slows down hiring as recession fears grow
Jim Bankoff, chairman and chief executive officer of Vox Media Inc. David Paul Morris | Bloomberg | Getty Images Just a month ago, media executives expressed optimism that their companies were well po...
Adidas cuts 2022 outlook on slower China recovery, potential global slowdown
Pedestrians walk by a large Adidas logo inside the German multinational sportswear shop. Miguel Candela | SOPA Images | LightRocket via Getty Images Adidas on Tuesday cut its financial forecast for 20...
Here Are The Major U.S. Job Cuts As Recession Fears Grow
Major U.S. companies have laid off thousands of employees so far this summer, as CEOs fear soaring inflation could tip the economy into a recession. July 26, 2022E-commerce company Shopify became the ...
Rate Hike at Fed’s July Meeting Provides a Credibility Test, With Cuts Already on Horizon
Some traditional market analysts, however, seem to be pricing in rate cuts by the Fed coming early next year, ostensibly as part of a future move to stop the U.S. economy from a deeper recession. Thos...
Stock futures fall after Walmart cuts forecast, says inflation hit consumer spending
Traders on the floor of the New York Stock Exchange, June 28, 2022. Source: NYSE U.S. stock futures fell on Monday night after Walmart cut its profit forecast, sending retail stocks tumbling after hou...
Walmart cuts profit guidance as it sees slower growth due to inflation
Walmart on Monday cut its quarterly and full-year profit guidance, saying inflation was changing how its customers spend. The big-box retailer said it now expects same-store sales to rise by about 6% ...
Goldman Sachs cuts earnings outlook for MSCI China to zero growth
In China, people typically buy apartments before they are completed. Pictured here on June 28, 2022, are unfinished residences in Nanning, Guangxi Zhuang Autonomous Region. Future Publishing | Future ...
Verizon shares fall after company cuts full-year forecast
A Verizon store in San Francisco, California, U.S., on Tuesday, July 20, 2021. Bloomberg | Getty Images Shares of Verizon fell Friday after the company reported second-quarter earnings that fell shy o...
Blockchain.com Cuts 25% of Staff Citing Harsh Market Conditions
Cryptocurrency firm Blockchain.com is laying off 25% of its staff, equating to about 150 roles according to reports by CNBC. The company is said to have had significant exposure to the now bankrupt cr...
Compass Mining to add 25,000 ASIC miners just weeks after staff cuts
Mere weeks after announcing staff lay-offs and salary cuts, Compass Mining has unveiled expansion plans in the form of a 75 megawatt (MW) hosting partnership with Compute North for its data center in ...
Blockchain.com cuts a quarter of staff, closes Argentina offices: CoinDesk
Blockchain.com has become the latest crypto company to cut staff, according to a report published by Coindesk on Thursday. The exchange will cut 25% of its staff, approximately 150 people, bringing th...
Universal Free School Lunches Will End Soon After Cuts To Pandemic-Era Spending
Topline Universal access to free school lunches will come to an end in the coming weeks, after expanded federal funding passed during the early part of the pandemic was not renewed in the latest spend...
Blockchain.com Cuts Workforce By 25%
The macroeconomic downturn has led to a growing number of layoffs across the cryptocurrency industry. Following Coinbase, BlockFi, and Crypto.com, crypto firm Blockchain.com was the latest name to joi...
Blockchain.com Cuts Staff by 25%, Executive Salaries Reduced – Bitcoin News
Jamie Redman Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a ...
China Billionaire Cuts Stake In Outperforming Nike Rival Xtep
Xtep international Chairman Ding Shui Po in 2014. (Photo by Edmond So/South China Morning Post via … [+] Getty Images) South China Morning Post via Getty Images An investment company controlled ...
7-Eleven cuts 880 jobs as part of restructuring
Peter Parks | AFP | Getty Images Convenience store chain 7-Eleven has cut roughly 880 corporate jobs in the United States, CNBC has learned, roughly a year after it completed its $21 billion acquisiti...
Blockchain.com Slashes 25% of Workforce, Cuts Exec Compensation
CEO Peter Smith told Blockworks last month that many crypto firms spent unsustainably Smith and other executives will take compensation cuts Blockchain.com is laying off 25% of its workforce to help c...
A Cold Snap For Interiors? Made.Com Warns Of Job Cuts And Issues Further Profit Warning
Balancing the books: Today online furniture retailer Made.com has announced it is having to cut … [+] revenue and has warned of job cuts. The cost of living crisis has seen many consumers reduce...
Gemini Exchange Cuts Workforce for Second Time in 2 Months: Report
Co-founder Cameron Winklevoss reportedly slammed public sharing of internal communication The company laid off 10% of its staff in early-June Gemini is shrinking its workforce once again, less than tw...
Gemini eyes further staff cuts to control costs amid crypto winter
Seven weeks after announcing a 10% headcount reduction to survive the winter, crypto exchange Gemini is going for the second round of layoffs to fire another 15%, to cut the costs even more, TechCrunc...
Gemini Crypto Exchange Cuts More Staff in Second Round of Layoffs
Gemini has conducted another round of layoffs, according to a TechCrunch report. The company has reduced its workforce by an additional 7% as the effects of crypto winter continue to hit. The Gemini c...
Titus O’Neil Cuts Bizarre Promo On July 18, 2022
Titus O’Neil Opened WWE Raw with a bizarre promo. Credit: WWE.com WWE Raw advertised the return of Logan Paul, who is “calling for The Miz” after Miz betrayed him at WrestleMania 38. Raw also ad...
Gemini cuts more staff as many crypto prices increase: Report
Cameron and Tyler Winklevoss’ Gemini has reportedly laid off additional staff more than a month after reports suggested the cryptocurrency exchange cut 10% of its employees. In a Monday report from Te...
IBM Posts Highest Sales Growth in a Decade, Cuts Cash-Flow Estimate
(Bloomberg) — International Business Machines Corp. lowered its forecasts for free cash flow this year due to the impact of a strong dollar and the loss of business in Russia, sending the shares...
Goldman Sachs looking at reinstating year-end job cuts as economic outlook dims
People walk by the New York Stock Exchange on May 12, 2022 in New York City. Spencer Platt | Getty Images News | Getty Images Goldman Sachs has slowed its hiring and is looking to cut the fees that it...
NFT Marketplace OpenSea Cuts Staff By 20% Amid Market Downturn
The bear market has negatively affected the staffing levels at several major crypto firms, and the latest to suffer under the carnage of the price drops is the world’s leading non-fungible token (NFT)...
Opensea Cuts 20% of the NFT Market’s Staff, Citing ‘Crypto Winter’ and ‘Macroeconomic Instability’ – Bitcoin News
The largest non-fungible token (NFT) marketplace by trade volume, Opensea, has announced the company has let 20% of its staff go after CEO Devin Finzer said the layoffs were due to a combination of “c...
Bank of America cuts its year-end target for S&P 500 by 20%
S&P 500 will end 2022 at the 3,500 level, says Savita Subramanian. She’s the Head of U.S. Equity and Quantitative Strategy at the Bank of America Securities. Subramanian’s remarks on CNBC’s ‘Fast ...
These are the 10 cities seeing the most price cuts for homes
Daniel Acker | Bloomberg | Getty Images More home sellers are dropping their asking prices as rising mortgage interest rates and inflation have slowed down competition in the housing market. Some citi...
Toyota Reaches Tax Credit Phaseout, GM Refunds Bolt Price Cuts To Current Owners
Toyota’s bZ4X electric vehicle is coming for 2023; unfortunately it won’t be eligible for the full … [+] federal tax credit granted to EV buyers. © 2022 Bloomberg Finance LP Though t...