Topline German sportswear giant Adidas unveiled plans to slash its dividend on Wednesday, reiterating warnings the company could face its first annual loss in decades following the costly decision to ...
Tag: Slashes
Sirius XM Slashes Jobs in a Reorganization
Key Takeaways Sirius XM Holdings (SIRI) announced that it would cut 8% of its workforce as it reorganizes its operations. In February, the company issued 2023 revenue and EBITDA guidance that came in ...
MATIC Drops 6% as Polygon Labs Slashes Headcount by 20%
Polygon Labs, the group of companies behind the eponymously-named blockchain network, announced it would be cutting its headcount by 20%, per a blog post. The 100 employees that have been laid off wil...
Intel Slashes Dividend 66% to Lowest Payout in 16 Years
(Bloomberg) — Intel Corp., the biggest maker of computer processors, slashed its dividend payment to the lowest level in 16 years in an effort to preserve cash and focus on a turnaround plan. Mo...
Warren Buffett Slashes Taiwan Semiconductor, Adds To Louisiana-Pacific
Berkshire Hathaway’s 13F reveals it was buying Lousiana-Pacific, Apple and Paramount Global in the fourth quarter of 2022. The firm also reduced several positions. There were no new buys or sold...
Buffett’s firm buys Apple, slashes chipmaker and bank stakes
OMAHA, Neb. (AP) — Billionaire Warren Buffett’s company added to its already substantial Apple investment at the end of last year while slashing a new investment in computer chip maker Taiwan Se...
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...
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...
Renault slashes Nissan stake as the automakers overhaul their decades-long alliance
Renault and Nissan automobile logos are pictured during the Brussels Motor Show on January 9, 2020 in Brussels. (Photo by KENZO TRIBOUILLARD/AFP via Getty Images) Kenzo Tribouillard | Afp | Getty Imag...
Crypto Firm Matrixport Slashes Headcount by 10%
Matrixport, a Singapore-based crypto investment and lending firm, has confirmed with Decrypt that it is making reductions in its marketing department, impacting 10% of its nearly 300-person workforce....
Fidelity Slashes Ant Group Valuation, Posing A Bummer For Alibaba
Fidelity Investments again slashed Alibaba Group Holding Limited’s (NYSE: BABA) fintech affiliate Ant Group Co’s valuation more than two years after China blocked the fintech giant’s...
Tesla Slashes Prices Up To 20 Percent, Sending Shockwaves Through EV Industry
(Photo by Smith Collection/Gado/Getty Images). Getty Images Key takeaways Tesla’s price drops are officially cited as a drop in supply chain prices, but others think it’s a savvy sales ploy after a ro...
Luno Slashes 35% of its Workforce as DCG Battles Challenges
The layoffs by crypto exchanges continues, with employees of Luno being the latest victim. The company has announced it will let go of approximately 336 employees. Unfortunately, back-to-back layoffs ...
ConsenSys slashes headcount 11% as chief economist reveals formula for adoption
ConsenSys, the parent company behind MetaMask, is letting go of 11% of its workforce, with CEO Joseph Lubin blaming “uncertain market conditions” brought on by recent collapses. In a blog post from Co...
Tesla Slashes Its Car Prices in US and Europe
This latest price cut by Tesla is becoming a trend and it represents almost the third time the firm will be slashing its car prices around the world. American multinational electric vehicle maker Tesl...
Blockchain.com Slashes Workforce Crypto Industry Downturn
The crypto ecosystem is facing significant headwinds as its course corrects from the challenges of the last year. To better balance product offerings with demand, we’ve made the difficult decision to ...
Tesla shares under pressure after EV maker slashes prices of Model 3 and Y cars in the U.S.
Shares of Tesla Inc. were under pressure in early trading on Friday after the electic-car maker announced price cuts for its Model 3 and Model Y cars, with discounts in some cases of nearly 20%, as th...
Apple Slashes CEO Tim Cook’s Compensation By Over 40%—After Billionaire Requested Pay Cut
Topline Apple announced Thursday it is lowering CEO Tim Cook’s annual compensation by more than 40% in 2023, after the billionaire recommended the dock in pay and analysts argued his ballooning compen...
World Bank slashes 2023 Forecasts & Alert Global Recession
The global economic condition is under the immense critical condition as the World Bank recently slashed its global growth forecasts from projections it made in mid-2022. Considering it as a warning b...
Coinbase Slashes 20% of Staff in the Third Round of Layoff
In its third round of layoff, Coinbase slashes 950 employees. This is to tackle economic conditions that affected the industry in the bear market. Coinbase will close projects that have a lower probab...
Crypto-Focused Bank Silvergate Slashes 40% Workforce, Abandons Several Projects
The FTX collapse has accelerated lay-offs as the sector struggles to weather the incessant turmoil. Crypto-focused bank – Silvergate Capital – has become the latest to slash 40% of its workforce, whic...
Crypto Lender Genesis Slashes Staff and Mulls Bankruptcy: WSJ
According to a Jan. 5 report by the WSJ citing ‘people familiar with the matter,’ Genesis is mulling a bankruptcy filing and has let around 30% of its staff go. The layoffs were across several departm...
Dow Jones Futures: Jobs Report Is Big Market Test; Tesla Slashes China Prices
Dow Jones futures rose modestly overnight, along with S&P 500 futures and Nasdaq futures. All eyes are on the December jobs report due Friday morning. X Tesla (TSLA) announced major China price cu...
LiveOne Slashes Additional $5 Million of Costs Bringing Total Savings to Over $30 Million in Fiscal 2023
Increases Record Adjusted EBITDA* Guidance to $9.5 – $12 Million for Fiscal 2023 Short-Term Assets of $25 Million and $8.6 Million Cash Signed LOI for New Credit Line for Up to Maximum $20 Million LOS...
Silvergate Slashes 40% of Jobs as Further FTX Contagion Spreads
Silvergate Capital has been forced to take drastic action as a consequence of its association with FTX and its collapse. In addition to paring back its businesses, the bank has laid off roughly 40% of...
Coinbase shares drop 10% as Cowen downgrades stock and slashes price target
Coinbase shares fell shortly after the open as Cowen analysts downgraded the stock and cut their price target, citing dwindling retail volumes, lower revenue expectations and a harsh regulatory enviro...
Fidelity slashes the value of its Twitter stake by over half
Fidelity, which was among the group of outside investors that helped Elon Musk finance his $44 billion takeover of Twitter, has slashed the value of its stake in Twitter by 56%. The recalculation come...
Tesla stock suffers longest losing streak since March 2020 after Wedbush slashes price target by 30%
Shares of Tesla Inc. suffered their longest losing streak since the start of the COVID pandemic, after Wedbush analyst Dan Ives slashed his price target by 30%, citing “demand cracks” for the fourth q...