“The government has about 48 hours to fix a-soon-to-be-irreversible mistake”: Bill Ackman warns some businesses may not be able to meet payroll after SVB’s failure

“The government has about 48 hours to fix a-soon-to-be-irreversible mistake. By allowingSVB Financial to fail without protecting all depositors, the world has woken up to what an uninsured deposit is ...

Silicon Valley Bank staff offered 45 days of work at 1.5 times salary by FDIC

Staff of Silicon Valley Bank were offered 45 days of employment at 1.5 times their salary by the Federal Deposit Insurance Corp, the regulator that took control of the collapsed lender on Friday, Reut...

Meta Stock Rises After Report of More Layoffs

Shares of Facebook-parent Meta Platforms were rising Tuesday after a report said the company will cut more jobs than previously announced. Meta (ticker: META) is planning another round of layoffs as s...

Silicon Valley Confronts the End of Growth. It’s a New Era for Tech Stocks.

Silicon Valley could use a reboot. The biggest players aren’t growing, and more than a few are seeing sharp revenue declines. Regulators seem opposed to every proposed merger, while legislators push f...

In Tech’s New World, Layoffs and Buybacks Are In, Mergers Are Out

Silicon Valley could use a reboot. The biggest players aren’t growing, and more than a few are seeing sharp revenue declines. Regulators seem opposed to every proposed merger, while legislators push f...

GM to Axe Hundreds of Jobs. But It’s Not About Cutting Costs.

General Motors is cutting salaried and executive staff positions, after saying earlier this year that it didn’t plan layoffs. GM (ticker: GM) representatives on Tuesday said the cuts affected a small ...

Opinion: Marc Benioff’s Salesforce fairy tale is crumbling down around him

Salesforce Inc. has been a unique tech company, able to sell itself as a “family” that has higher ideals than just profit to its employees while generating near-universal praise from Wall Street as we...

Do Layoffs Pay Off? Meta, Amazon, Other Tech Stocks Paint a Mixed Picture.

Text size Tech companies have announced more than 100,000 job cuts this year so far. Fizkes/Dreamstime Some technology companies have seen their stocks jump after announcing mass layoffs this earnings...

How big is the storm in cloud? Salesforce, Zoom and Snowflake will tell you

Is a cloud recession forming on the horizon? Markets could soon find out as some of the biggest names in the cloud-software business report earnings in the week ahead after a storm for their stocks. T...

The Only 401(k) Savers Who Didn’t Lose Money in The Past Year

The only workers whose 401(k) balances grew in 2022 were the Gen Z savers still decades away from retirement, according to new data from Fidelity Investments.  While the average nest egg among Fidelit...

One laid-off tech worker’s odyssey: 5 months, 25 interviews, 100 job applications

At times, Todd Erickson’s search for a tech job felt more like an odyssey. But after five months, about 100 job applications and more than two dozen interviews with recruiters and companies — includin...

Carvana Posts Wider Q4 Loss. Used Car Demand Tumbled.

Online used-car dealer Carvana (ticker: CVNA) missed fourth-quarter earnings and revenue expectations and announced plans to cut about $1 billion in costs over the next six months while improving cust...

Amazon’s Stock Slump Is Hitting Employee Pay

It’s not just layoffs casting a cloud over Amazon Its share-price fall is also hitting employees’ pay, forcing the company to reassure its workers about the likelihood of a rebound.  Amazon ‘s (ticker...

Just how bad were holiday sales? The world’s biggest retailers are about to tell us

The nation’s retailers limped into last year’s holiday season with too much stuff that people didn’t want. We’re about to find out how much of it they were able to get rid of, and how much an avalanch...

Companies Lay Off Workers to Save Money. What 27 Said on Earnings Calls.

What do PayPal,  AT&T and Tinder owner Match Group all have in common? They are among the several S&P500 companies saying that trimming their workforces should provide a boost to their financi...

As Big Tech cuts workers, other industries are desperate to hire them

Workers who jumped from one high-paying job to another as Big Tech companies staffed up at a dizzying pace in recent years are now considering leaving the sector entirely as those same large employers...

Ghosting your job candidates? You better watch out — it might come back to bite you later.

If you’re in the process of hiring new workers, be wary of ghosting your candidates. The Conference Board surveyed more than 1,100 workers to weigh in on their job hunting preferences, hiring practice...

Tech Layoffs Hit H1B Visa Workers Hard

When she lost her job at Google last month, Jingjing Tan started worrying about her dog, an energetic, 75-pound German shepherd. As a foreign worker living in the U.S. on a temporary work visa, if she...

Disney Plans to Reinstate Its Dividend and Cut 7,000 Jobs. Nelson Peltz Declares Victory.

Walt Disney stock jumped after the entertainment company topped earnings expectations, while also announcing it was planning to cut jobs and reinstate its its dividend. Disney (ticker: DIS) reported n...

Affirm Stock Drops. Company Slashes 19% of Jobs After Earnings Miss.

Affirm Holdings, a buy-now, pay-later fintech, is slashing 19% of its workforce after missing expectations for both its second fiscal quarter and its immediate outlook. Founder and CEO Max Levchin sai...

Disney Plans to Reinstate Its Dividend and Cut 7,000 Jobs. The Stock Jumps.

Walt Disney stock jumped on Wednesday after the entertainment giant topped earnings expectations, while also announcing it was planning to cut jobs and reinstate its its dividend. Disney reported non-...

Affirm to lay off 19% of staff, stock tanks after earnings disappointment

Affirm Holdings Inc. announced plans to cut 19% of its staff Wednesday following an earnings report in which the buy-now-pay-later company came up shy with both its results and outlook. “The root caus...

Biden targets stock buybacks — do they help you as an investor?

There seem to be two camps when it comes to stock buybacks. On one hand, share buybacks can reduce a company’s share count, which increases profit per share and hopefully supports a rising stock price...

Dell to cut 6,650 jobs, report says

Dell Technologies will join the ranks of technology companies slashing jobs as the computer maker will shed 6,650 positions, according to a published report on Monday. Citing a company spokesman after...

Meta stock spikes nearly 20% as cost cuts and $40 billion for investors overshadow earnings miss

Meta Platforms Inc. shares soared in after-hours trading Wednesday despite an earnings miss, as the Facebook parent company guided for potentially more revenue than Wall Street expected in the new yea...

Intel cuts pay, bonuses and other benefits while maintaining dividend

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...

Apple, Amazon, Facebook and Google face earnings test amid Big Tech layoffs

In the biggest week of the holiday-earnings season, Big Tech results will receive the spotlight amid thousands of layoffs that could only be the beginning. After tech stocks were decimated in 2022, in...

IBM’s layoffs aren’t helping the stock, as analysts still fret about cash flow

International Business Machines Corp. shares slumped Thursday after analysts picked apart Big Blue’s free cash flow results and outlook amid layoffs, and found a “mixed blessing” in the company’s driv...

Why Layoffs at 3M, Dow Are More Concerning Than Amazon, Google and Microsoft

Layoffs are spreading beyond tech. That’s a troubling trend investors should be paying attention to. On Thursday, chemicals giant Dow Inc. (ticker: DOW) reported weaker-than-expected fourth-quarter nu...

Curaleaf cutting 10% of staff as it exits three U.S. states

This story has been updated to provide correct figures for the number of states Curaleaf operates in; also the number of total employees at the company. Curaleaf said Thursday it has reduced its staff...

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...