Intel Corp. continues to cut costs for everything except payments to investors. Intel INTC, +2.87%, which is already in the process of cutting what is believed to be thousands of jobs amid steep decli...
Tag: Cuts
Fed just ruled out rate cuts this year: ‘be cautious on equities’
S&P 500 just added close to a 100 points after the U.S. Federal Reserve announced its eighth consecutive rate hike to fix inflation that still sits at 6.5%. Fed raises interest rates by another 25...
DraftKings cuts 140 jobs
The entrance from the elevators, designed to resemble a tunnel entering a stadium, is pictured at the new DraftKings office in Boston. David L. Ryan | The Boston Globe via Getty Images DraftKings is e...
Intel cuts CEO pay by 25% as a chip glut wipes out profits—and even middle managers will take a salary hit
U.S. chipmaker Intel Corporation is cutting pay across its workforce days after the company shocked Wall Street with below-expectations revenue and a forecasted loss for the current quarter. Intel CEO...
Intel Slashes CEO Pay by 25% as Part of Companywide Cuts
(Bloomberg) — Intel Corp., struggling with a rapid drop in revenue and earnings, is cutting management pay across the company to cope with a shaky economy and preserve cash for an ambitious turn...
Bitcoin miner Greenidge cuts NYDIG debt from $72M to $17M
Bitcoin (BTC) mining company Greenidge Generation Holdings has significantly reduced its debt with the investment management firm New York Digital Investment Group (NYDIG). On Jan. 30, Greenidge enter...
States miss deadline for deal on water cuts
The Hoover Dam water intake towers at Lake Mead, the country’s largest man-made water reservoir, formed by the dam on the Colorado River in the Southwestern United States, has dropped 2 inches e...
Crypto tax firm CoinTracker cuts 20% of staff a year after $100M round
Cryptocurrency tax company CoinTracker has laid off 19 employees representing approximately 20% of its workforce. This is according to an internal email reviewed by Protos and confirmed by a statement...
Crypto Industry Cuts Jobs Despite Bitcoin Highs
Significant crises and unpleasant events negatively impacted Bitcoin and other crypto asset prices in 2022. Some notable events include the collapse of Terra and its ecosystem, the implosion of the FT...
Ford cuts price of EV Mustang Mach-E, following Tesla’s cuts
People visit Ford’s all-electric SUV Mustang Mach-E at the 2019 Los Angeles Auto Show in Los Angeles, the United States, Nov. 22, 2019. Xinhua via Getty Images DETROIT — Ford Motor is increasing...
BP Cuts Long-Term Oil and Gas Demand Outlook. It’s Good News for Renewables.
BP lowered its long-term oil and gas demand outlook as it said Russia’s war in Ukraine will accelerate the global shift toward renewable energy in a report Monday. In its 2023 energy outlook, the Brit...
Matrixport cuts workforce by 10%
Crypto financial services company Matrixport, co-founded by Jihan Wu, has joined the list of companies carrying out job cuts, while its asset management firm lost two top executives. Matrixport reduc...
Hasbro warns of weak holiday quarter results, cuts jobs
Game maker Hasbro Justin Sullivan | Getty Images Hasbro said Thursday it would eliminate around 1,000 employee positions and warned of weak holiday-quarter results. Shares of the toy maker fell more t...
This recession indicator is close to the point of no return. But stocks historically rally if the Fed cuts and the economy still grows.
It’s way too early to proclaim a Goldilocks environment, even if major asset classes are at least pointing to a better chance of it. The S&P 500 SPX, +0.40% has gained 5% this year, and the tech-h...
Tesla’s price cuts could spur an EV pricing war
A Tesla showroom is seen in the City Center shopping center on January 17, 2023 in Washington, DC. Anna Moneymaker | Getty Images DETROIT — Tesla vehicles in the U.S. are seeing significant price cuts...
Digital Currency Group’s Luno cuts 35% of staff
Luno, the crypto exchange owned by Digital Currency Group, reduced its workforce by 35%. The London-based firm told employees about the layoffs earlier today. Luno had a total headcount of 960, ...
Gemini Exchange lays off 10% of staff in 3rd round of cuts – Cryptopolitan
Gemini, the cryptocurrency exchange co-founded by Cameron and Tyler Winklevoss, announced that it would reduce its workforce by 10%. However, this is the third time Gemini has conducted layoffs in les...
Google’s Pichai Tells Staff Cuts Avoided ‘Much Worse’ Issues
(Bloomberg) — Google’s chief executive officer told employees on Monday that job cuts were made in a bid to act decisively as the company’s growth slowed. Most Read from Bloomberg In an internal...
Crypto Exchange Gemini Reportedly Cuts Down 10% of Staff
Despite the ongoing relief rally in the crypto market, negative news seems to be never-ending. The latest to make it to the headline today is Gemini, as the crypto exchange company has reportedly cut ...
Tesla Cuts Prices To Compete For EV Sales And Tax Incentives — Will The Discounts Be Enough To Spur Lagging Sales?
Getty Images Key takeaways Tesla announced U.S. price cuts to all its models, ranging from $3,000 to $11,000. There are multiple reasons for the cuts, including slowing sales, an EV tax credit and mor...
Capital One Job Cuts Signal Trouble for IT Labor Market
IT positions have largely been seen as insulated from the job cuts that have hit workers at major technology firms like Alphabet Inc. and Microsoft Corp., but the Capital One layoffs affecting 1,100 e...
Nearly 60,000 Laid Off In January So Far As Major Firms Increase Cuts
Topline Nearly 60,000 employees lost their jobs in large corporate layoffs in the U.S. so far this month—the highest monthly total since Forbes began tracking layoffs fueled by recession fears last ye...
Dogecoin Cuts CO2 Emissions By 25%, Becomes 3rd Fastest Crypto At Slashing Carbon Footprint
As a result of the coordinated efforts of chain developers and billionaire Elon Musk, the annual carbon emissions of Dogecoin decreased by around a quarter in 2022, making the meme token one of the qu...
Google’s Treasured AI Unit Gets Swept Up in 12,000 Job Cuts
(Bloomberg) — Alphabet Inc. is reorganizing its treasured artificial intelligence unit as part of the company’s sweeping job cuts announced on Friday, according to an internal memo. Most Read fr...
Alphabet’s Massive Layoffs Fuel $50 Billion Market Rally—And Analysts Expect More Job Cuts Will Boost Tech Stocks
Topline Google-parent Alphabet and online retailer Wayfair on Friday became the latest tech stocks to rally after issuing massive layoff announcements to help curb costs ahead of a potential recession...
Google Cuts 12,000 Workers – 2023 Tech Layoffs Roundup
(Photo credit should read BRITTANY HOSEA-SMALL/AFP via Getty Images) AFP via Getty Images Key Takeaways Google has just announced they’ll be laying off 12,000 people in 2023 Many other tech companies ...
Google Cuts 12,000 Jobs As 2023 Layoffs Continue
Topline Google’s parent company Alphabet announced plans Friday to cut 12,000 employees, just days after software giant Microsoft announced plans to cut 10,000 employees and Amazon began laying off 18...
Allegations of fraud against Compass Mining after company cuts ties with Russian
Compass Mining severed its ties with the Russian hosting provider Bit River and did not return Bitcoin mining gear to its customers. The company claimed the reason for its actions as a non-applicable ...
ConsenSys Confirms Job Cuts; CEO Lubin Touts a Win for Decentralization Over ‘Ridiculous’ CeFi
“We’re keeping the company strong; we didn’t cut into muscle,” Lubin said in an interview with CoinDesk. “We sort of right-sized support functions, some customer support,...
The Giving Block cuts about 12% of its workforce
The Giving Block, a crypto donations marketplace, trimmed its workforce, two sources with direct knowledge of the matter told The Block. The Miami-based company laid off around ten people, or a...
JPMorgan’s Kolanovic Cuts Equity Allocation Again on Growth Risk
(Bloomberg) — JPMorgan Chase & Co. strategist Marko Kolanovic reiterated Tuesday that he sees downside risk for the stock market in the first quarter, with the bank reducing its recommended ...