Shares of SmileDirectClub Inc. rallied after hours on Tuesday after the oral-care company said it planned a round of cost cuts and a “realignment” of its workforce — even as its sales forecasts came u...
Tag: Cuts
OSL Exchange Cuts Staff Due to Current Market Conditions
The Hong Kong-based crypto exchange OSL is reducing its headcount, but the country envisions becoming a crypto hub. The employees of the OSL exchange are the latest victim of the crypto winter, as the...
Fidelity-backed OSL cuts staff amid crypto winter
Hong Kong-based Fidelity Investments-backed crypto exchange OSL has joined the list of exchanges cutting down workforce to reduce overhead costs and stay afloat. Although the OSL didn’t immediately r...
Fidelity-Backed Crypto Platform Cuts Staff Due to Market Pressure
OSL, a Hong Kong-based digital asset exchange, is cutting roughly a third of its costs following months of turbulence in the crypto market. That includes staff cuts – though the firm did not reveal h...
Tesla’s Profits Are at Risk From Price Cuts. It Could Get Bad.
Tesla is cutting its prices, so Wall Street is lowering its forecasts for earnings, fearing profit margins will be decimated. That makes 2023 a scary time for investors in the electric-vehicle company...
Tesla price cuts accelerate EV market’s first recession stress test
Pedestrians walk past the Tesla Motors official authorized car dealer store in Hong Kong. Sopa Images | Lightrocket | Getty Images Is the first electric-vehicle recession here, or coming soon? As elec...
Shanghai pledges tax cuts, government subsidies for ailing small businesses as city sharpens focus on economic recovery in 2023
Shanghai, the financial and commercial hub of China, has pledged to roll out more relief measures to support ailing small businesses hit hard by past pandemic curbs, as the metropolis pursues a consum...
Tesla stock sinks on fresh Model 3 and Model 7 price cuts
So much for that Tesla stock (TSLA) bounce. Shares of the EV maker fell more than 4% in pre-market trading on Friday amid fresh U.S. price cuts for the Model 3 and Model Y. The stock had rallied about...
Crypto.com to Axe 20% of Jobs Following Coinbase and Bybit Cuts
Cryptocurrency exchange Crypto.com will slash 20% of its staff, the Singapore-based platform said on Jan. 13. This comes amid a recent wave of job cuts affecting crypto companies and exchanges. Crypto...
No Respite From Layoffs: Crypto.com Cuts 20% Workforce
Crypto.com has been hit by yet another wave of layoffs. The co-founder and CEO of the crypto exchange, Kris Marszalek announced the decision to reduce the headcount by 20% citing ongoing economic head...
Blockchain.com Cuts Its Headcount by 28%
Blockchain.com lets go of 28% of its staff to achieve profitability in 2023. It slashed 25% of its workforce in July 2022, impacted by the collapse of 3AC. The year has changed, but the impact of the ...
Coinbase Shutting Down Most Crypto Services in Japan After Series of Job Cuts Globally – Bitcoin News
The Nasdaq-listed cryptocurrency exchange Coinbase is closing down most of its operations in Japan after announcing another round of job cuts globally. “Despite everything we’ve been through as a comp...
Crypto.com cuts 20% of workforce amid sector-wide layoffs
Crypto.com, the Singapore-based crypto wallet and payments firm, is laying off 20% of its global workforce. The company announced the news in a blog post published today. Kris Marszalek, the fi...
Stripe Cuts Internal Valuation for Second Time in 6 Months
In reaction to the current market outlook, in November last year, Stripe laid off as many as 1,120 of its workers. Irish-American financial services and SaaS company Stripe has received its second val...
Coinbase To Spend $150M On Recent Cuts — But Still Has Plenty of Cash
Coinbase appears set to hone in on fewer business lines as it implements cost-saving measures, as one analyst said the company’s NFT platform could be at risk. CEO Brian Armstrong revealed in a ...
Coinbase Lays Off 950 Staff, Cuts Operational Costs By 25%
Coinbase is cutting an additional 950 staff as part of cost-saving measures that will see its operational expenses shrink by a quarter. The move was announced by CEO Brian Armstrong in a Tuesday morni...
Fed Chair Powell Silent As Bond Markets See Recession, Rate Cuts
Often, it’s what isn’t said that deserves the most attention. Federal Reserve Chairman Jerome Powell’s decision to sidestep the issue of inflation and rate hikes during a central b...
Coinbase to wind down Japanese operations amid global staff cuts
Coinbase is closing down a majority of its operations in Japan and laying off staff located there, according to Bloomberg News. On Jan. 11, Coinbase’s Vice President for Business Development, Nana Mur...
Coinbase to layoff 950 employees in second round of job cuts
Coinbase has announced it will cut another 950 employees, adding to the 1,100 who were laid off in June 2022 due to the deteriorating crypto market. 950 more employees on Coinbase’s chopping block Ac...
Crypto Winter Gets Chillier: Coinbase Cuts 1,000 Positions
Crypto exchange Coinbase (COIN) is letting go of about 1,000 employees as part of a critical strategy to weather down the crypto winter. According to a report from Reuters, this is the company’s third...
Coinbase pops 7% after job cuts; Needham says buy
Coinbase jumped 7% after saying it would cut staff, with Needham calling it “necessary” and holding onto its buy rating. The exchange is cutting 950 employees, which should reduce o...
Bitcoin steady around $17,250 as altcoins dip, Coinbase jumps on job cuts
Bitcoin and ether held onto gains as altcoins traded lower, while traditional markets rose modestly. Coinbase popped following its latest layoff announcement. Bitcoin was trading around $17,270...
Amazon’s Fresh Stores Likely To Suffer Amid Amazon Staff Cuts
(Photo by Niklas HALLE’N / AFP) (Photo by NIKLAS HALLE’N/AFP via Getty Images) AFP via Getty Images There are seven AmazonAMZN AMZN “Zombie” stores that appear to be ready to open but sit ...
Catastrophic Funding Cuts in Scientific Research – Can Blockchain Be the Solution?
HodlX Guest Post Submit Your Post We are going through one of the worst economic instabilities, and it’s about to get worse. With governments struggling to keep their economies afloat, spending cut...
Crypto asset manager Osprey cuts most of its employees
Digital asset manager Osprey Funds has laid off 15 employees and is currently operating with fewer than 10 employees, according to a source familiar with the matter. The news comes as the cryptocurre...
Twitter Cuts International Staff Overseeing Global Content Moderation
The company’s vice president of trust and safety, Ella Irwin, told reporters that Twitter made some cuts in the trust and safety team on Friday night due to low volume growth. Social media giant Twitt...
IRA Spurs Clean Energy Boom, Electric Trucks Accelerate, Battery Demand Surges, EPA Cuts Power Sector Pollution
2022 was arguably the most important year in United States climate action: Landmark federal legislation and pro-climate state elections have paved the way for a clean energy boom in every corner of th...
McDonald’s plans reorganization, job cuts as it accelerates restaurant openings
Noam Galai | Getty Images Entertainment | Getty Images McDonald’s is planning job cuts and a reorganization as the company refocuses its priorities to accelerate restaurant expansion, CEO Chris ...
Crypto payments firm Wyre cuts withdrawal limits to 90% of funds
Amid insolvency speculations, cryptocurrency payments platform Wyre slashed its withdrawal limits by 10% on Jan. 7. In a Twitter thread, Wyre announced that its customers can now only withdraw up to 9...
Ferrari cuts ties with crypto sponsor ahead of 2023 Formula One season
Scuderia Ferrari, the racing division of luxury carmaker Ferrari, joined the growing list of Formula One racing teams to end partnerships with their cryptocurrency sponsors. Ferrari exited its multi-y...