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August 18, 2022

LAYOFS

Former Deutsche Bank co-CEO Anshu Jain dies – Bloomberg News

Reuters
Anshu Jain, co-CEO of Deutsche Bank, addresses the bank’s annual general meeting in Frankfurt, Germany, May 21, 2015. REUTERS/Kai Pfaffenbach Register now for FREE unlimited access to Reuters.com Register Aug 13 (Reuters) – Anshu Jain, the former Deutsche Bank AG (DBKGn.DE) co-chief executive officer has died after suffering from cancer......

Peloton to cut more jobs, raise equipment prices

Reuters
A Peloton logo is seen on an exercise bike after the ringing of the opening bell for the company’s IPO at the Nasdaq Market site in New York City, New York, U.S., September 26, 2019. REUTERS/Shannon Stapleton/File Photo Register now for FREE unlimited access to Reuters.com Register Aug 12 (Reuters)......

U.S. inflation eases as the cost of gasoline plunges

Reuters
Aug 10 (Reuters) – U.S. consumer prices were unchanged in July due to a sharp drop in the cost of gasoline, delivering the first notable sign of relief for weary Americans who have watched inflation climb over the past two years. The Consumer Price Index (CPI) was flat last month......

Website creator Wix.com to cut costs amid slower global growth

Reuters
The logo of website-designer firm Wix.com is seen at a high-tech park in Beersheba, southern Israel August 28, 2017. Picture taken August 28, 2017. REUTERS/Amir Cohen/ Register now for FREE unlimited access to Reuters.com Register JERUSALEM, Aug 10 (Reuters) – Wix.com (WIX.O), which helps small businesses build and operate websites,......

Snap plans to lay off employees- The Verge

Reuters
Snapchat logo is seen in this illustration taken July 28, 2022. REUTERS/Dado Ruvic/Illustration/File Photo Register now for FREE unlimited access to Reuters.com Register Aug 8 (Reuters) – Snap Inc (SNAP.N) is in early stages of planning layoffs, the Verge reported on Monday, citing people familiar with the plans. The scope......

SoftBank plans Vision Fund job cuts after record net loss

Reuters
SoftBank was in a bubble on valuations- Son No sacred areas for cost cuts- Son SoftBank has exited stake in Uber Announced Y400 bln share buyback TOKYO, Aug 8 (Reuters) – SoftBank Group Corp (9984.T) is planning to cut headcount at its flagship Vision Fund investing arm, CEO Masayoshi Son......

Siemens Energy blames Russia restructuring for wider 2022 loss

Reuters
Siemens Energy’s site is seen on the day of German Chancellor OIaf Scholz’s visit, during which he saw a gas turbine meant to be transported to the compressor station of the Nord Stream 1 gas pipeline in Russia, in Muelheim an der Ruhr, Germany, August 3, 2022. REUTERS/Wolfgang Rattay Register......

Robinhood shares jump 12% on job cuts, smaller-than-feared loss

Reuters
The logo of Robinhood Markets Inc is seen at a pop-up event on Wall Street after the company’s IPO in New York City, U.S., July 29, 2021. REUTERS/Andrew Kelly/File Photo Register now for FREE unlimited access to Reuters.com Register Aug 3 (Reuters) – Shares of Robinhood Markets Inc closed up......

Google fires software engineer who claimed its AI chatbot is sentient

Reuters
The logo for Google LLC is seen at their office in Manhattan, New York City, New York, U.S., November 17, 2021. REUTERS/Andrew Kelly Register now for FREE unlimited access to Reuters.com Register July 22 (Reuters) – Alphabet Inc’s (GOOGL.O) Google said on Friday it has dismissed a senior software engineer......

Ford plans to cut up to 8,000 jobs – Bloomberg News

Reuters
The Ford logo is seen at the North American International Auto Show in Detroit, Michigan, U.S., January 15, 2019. REUTERS/Brendan McDermid/File Photo Register now for FREE unlimited access to Reuters.com Register July 20 (Reuters) – Ford Motor Co (F.N) is planning to cut up to 8,000 jobs in the coming......

British EV firm Arrival may cut up to 30% of workforce in restructuring

Reuters
July 12 (Reuters) – British electric vehicle company Arrival SA said on Tuesday it planned to reorganise its business, which could result in up to 30% reduction in its workforce. Arrival said the move will enable it to start production of its Arrival Van in the third quarter as planned,......

GameStop fires chief financial officer, shares fall

Reuters
July 7 (Reuters) – GameStop Corp (GME.N) said on Thursday it had terminated the employment of Chief Financial Officer Michael Recupero, sending shares of the video game retailer down 8% in extended trading. The exit was first reported by Axios, which also said the company was laying off an undisclosed......

Australian BNPL firm Openpay hits pause on U.S. market as interest rates climb

Reuters
Openpay to ‘materially’ reduce U.S. workforce BNPL business model in danger as interest rates climb July 1 (Reuters) – Openpay Group (OPY.AX), an Australian buy-now-pay-later (BNPL) firm, has halted operations in the United States four months after describing it as its main growth market, the latest casualty among consumer finance......

Italy’s Monte dei Paschi seeks 2.5 bln euros for latest relaunch plan

Reuters
People are seen inside a Monte dei Paschi di Siena bank in Rome, Italy August 16, 2018. REUTERS/Max Rossi Register now for FREE unlimited access to Reuters.com Register Targets 3,800 voluntary staff exits in November Secures pre-underwriting accord with group of banks To lower costs, replenish capital with cash call......

Tesla sued by former employees over ‘mass layoff’

Reuters
June 20 (Reuters) – Former Tesla Inc (TSLA.O) employees have filed a lawsuit against the U.S. electric car company alleging its decision to carry out a “mass layoff” violated federal law as the company did not provide advance notice of the job cuts. The lawsuit was filed late Sunday in......

Crypto hedge fund Three Arrows Capital considers asset sales, bailout – WSJ

Reuters
June 17 (Reuters) – Cryptocurrency hedge fund Three Arrows Capital Ltd is exploring options, including the sale of assets and a bailout by another firm, the Wall Street Journal reported on Friday. The crypto market has suffered heavy losses, with companies such as Coinbase (COIN.O), Gemini, Blockfi and Crypto.com laying......

In call with Twitter staff, Elon Musk muses on space aliens, company’s future

Reuters
June 16 (Reuters) – Elon Musk addressed Twitter (TWTR.N) employees for the first time on Thursday, expressing his view that Twitter would need to cut its headcount, but offering few other new details about his $44 billion planned takeover of the social media company. Musk appeared via video call 10......

IKEA puts Russian factories up for sale, plans job cuts

Reuters
Stores in Russia will remain closed Will seek to sell factories Aims to reduce 15,000-strong workforce Ingka’s 14 “MEGA” shopping malls in Russia to stay open STOCKHOLM, June 15 (Reuters) – IKEA said on Wednesday it would sell factories, close offices and reduce its 15,000-strong workforce in Russia, the latest......

Coinbase to cut 1,100 jobs amid crypto turmoil

Reuters
The logo for Coinbase Global Inc, the biggest U.S. cryptocurrency exchange, is displayed on the Nasdaq MarketSite jumbotron and others at Times Square in New York, U.S., April 14, 2021. REUTERS/Shannon Stapleton/File Photo Register now for FREE unlimited access to Reuters.com Register June 14 (Reuters) – Cryptocurrency exchange Coinbase Global......

UK jobs market loses some of its inflation heat

Reuters
People walk past a branch of Jobcentre Plus, a government run employment support and benefits agency, in Hackney, London, Britain, August 6, 2020. REUTERS/John Sibley Register now for FREE unlimited access to Reuters.com Register Unemployment rate rises to 3.8%, first increase in over a year Inactivity rate edges down Jobs......

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