Tag: Layoffs and Job Reductions

China’s Investors Are Losing Faith in Its Markets and Economy

Like many Chinese people, Jacky hoped that he could make enough money investing in China’s stock markets to help pay for an apartment in a big city. But in 2015 he lost $30,000, and in 2021 he lost $80,000. After that, he shut down his trading account and started investing in Chinese funds that track […]

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Boeing, Still Recovering From Max 8 Crashes, Faces a New Crisis

After two deadly crashes involving its best-selling 737 Max 8 planes five years ago, Boeing spent billions of dollars to make its products safer and repair its reputation. Now, the company is again confronting a wave of uncertainty and costs following a harrowing incident involving a different 737 jet. Just four weeks ago, a hole […]

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Google’s Once Happy Offices Feel the Chill of Layoffs

When Diane Hirsh Theriault’s co-worker returned from lunch to Google’s Cambridge, Mass., office one afternoon in October, his work badge couldn’t open a turnstile. He quickly realized it was a sign that he had been laid off. Ms. Hirsh Theriault soon learned that most of her fellow Google News engineers in Cambridge had also lost […]

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Why Is Big Tech Still Cutting Jobs?

After a year of big layoffs, job cuts at the tech industry’s largest companies trickled into the first month of 2024. Google started the year with layoffs of several hundred employees and a promise of more cuts to come. Amazon followed by trimming hundreds of jobs in its Prime Video department. Meta quietly thinned out […]

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Job Market Starts 2024 With a Bang

The United States produced an unexpectedly sizable batch of jobs last month, a boon for American workers that shows the labor market retains remarkable strength after three years of expansion. Employers added 353,000 jobs in January on a seasonally adjusted basis, the Labor Department reported on Friday, and the unemployment rate remained at 3.7 percent. […]

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Meta Reports Profits More Than Tripled and Issues Its First Dividend

Meta on Thursday reported a 25 percent increase in quarterly revenue while profit more than tripled, a rise fueled by its ads business after a shaky 18 months of layoffs and a rocky digital advertising market. The Silicon Valley company, which owns Facebook, Instagram and WhatsApp, also said it would issue its first dividend, of […]

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Generative A.I.’s Biggest Impact Will Be in Banking and Tech, Report Says

A new generation of artificial intelligence is poised to turn old assumptions about technology on their head. For years, people working in warehouses or fast food restaurants worried that automation could eliminate their jobs. But new research suggests that generative A.I. — the kind used in chatbots like OpenAI’s ChatGPT — will have its biggest […]

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Mayorkas Impeachment Push, and a Militia’s Surprise Move

The New York Times Audio app is home to journalism and storytelling, and provides news, depth and serendipity. If you haven’t already, download it here — available to Times news subscribers on iOS — and sign up for our weekly newsletter. The Headlines brings you the biggest stories of the day from the Times journalists […]

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UPS to Cut 12,000 Jobs as Wages Rise and Package Volumes Fall

United Parcel Service plans to cut about 12,000 jobs this year as the company tries to slash costs in the face of falling package volumes and higher wages linked to a union contract it signed in the summer. Carol Tomé, the chief executive of UPS, told analysts on an earnings call Tuesday that it had […]

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Focused Cuts and Fewer Layers: Tech Layoffs Enter a New Phase

Last year, Mark Zuckerberg declared 2023 to be a “year of efficiency.” His company, Meta, soon laid off a third of its employees. Amazon, Google and Microsoft also cut tens of thousands of workers. Their worlds did not stop. Not only that, the companies were rewarded. Their stock prices soared. Some divisions were more productive. […]

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Watch Me Lose My Job on TikTok

“I am about to get laid off,” Folashade Ade-Banjo spoke to the camera while positioning her phone, “and you are about to see it.” In a five-minute TikTok video this month, Ms. Ade-Banjo, a 30-year-old Los Angeles marketing professional, was shown sitting quietly at her desk and staring at her computer, a pained look on […]

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Proposal to Reduce Royal Mail Deliveries in U.K. Draws Ire

Britain’s postal service could consider cutting deliveries to five days a week, or even three, from six, the country’s regulator said on Wednesday, drawing resistance from lawmakers and businesses. The Royal Mail, like the U.S. Postal Service, has been increasingly plagued by service issues and financial pressures. Given rising costs, the organization risks becoming “financially […]

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Katherine Maher Named C.E.O. of NPR

NPR announced on Wednesday that Katherine Maher would be its next chief executive, picking a leader with an extensive track record in the nonprofit world but without one in the realm of public radio. Ms. Maher was previously the chief executive of the Wikimedia Foundation, a nonprofit that supports the popular online resource Wikipedia by […]

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The News About the News Business Is Getting Grimmer

Even by the standards of a news business whose fortunes have plummeted in the digital age, the last few weeks have been especially grim for American journalism. Prominent newspapers like The Washington Post are shedding reporters and editors, and on Tuesday, The Los Angeles Times laid off more than 20 percent of its newsroom. Cable […]

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The Sports Illustrated Cover, a Faded Canvas That Once Defined Sports

Maybe it was the wordless image of the United States Olympic hockey team celebrating the “Miracle on Ice.” Perhaps it was the perfect frame of Dwight Clark making “The Catch” to send the San Francisco 49ers to the 1982 Super Bowl. Or it could have been the declaration that a 17-year-old LeBron James was “The […]

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Los Angeles Times to Slash Newsroom by Over 20%

The Los Angeles Times said on Tuesday that it would lay off about 115 journalists, slashing its newsroom by more than 20 percent after a tumultuous few weeks that saw top editors depart and workers walk off the job. Dr. Patrick Soon-Shiong, the billionaire owner of The Los Angeles Times, said in an interview with […]

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Tensions Erupt at Los Angeles Times as Owner Weighs Deep Cuts

Around twilight on Thursday, Los Angeles Times journalists gathered at Flora, a rooftop bar not far from the paper’s headquarters, to toast their departing editor, Kevin Merida. As reporters and editors sipped cocktails under a darkening sky, the talk was focused on why Mr. Merida, the paper’s editor for nearly three years, had decided to […]

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I Am Going to Miss Pitchfork, but That’s Only Half the Problem

I’m gutted to see Condé Nast folding the online music magazine Pitchfork into GQ. I won’t try to improve on the eulogies written for the site already (Casey Newton and Eric Harvey have good ones). But even today, if you look at the first screen of my iPhone, below The New York Times app and […]

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The U.S. Seems to Be Dodging a Recession. What Could Go Wrong?

With inflation falling, unemployment low and the Federal Reserve signaling it could soon begin cutting interest rates, forecasters are becoming increasingly optimistic that the U.S. economy could avoid a recession. Wells Fargo last week became the latest big bank to predict that the economy will achieve a soft landing, gently slowing rather than screeching to […]

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Sports Illustrated Thrown Into Chaos With Mass Layoffs

Sports Illustrated, the venerable bible of sports journalism, has been in decline for years, as the internet annihilated print magazines and cost-cutting turned the weekly publication into a monthly and whittled its staff. But on Friday, the magazine received perhaps its toughest blow yet. The company that publishes Sports Illustrated said in an email to […]

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Macy’s Plans to Cut 2,350 Jobs and Close 5 Stores

Macy’s, the country’s largest department store operator, told employees Thursday that it was laying off 13 percent of its corporate work force. The move comes as the company prepares to unveil a new strategy that its incoming chief executive will oversee. The cuts amount to roughly 2,350 jobs, or about 3.5 percent of the company’s […]

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Shake-Up by a Desperate DeSantis Opens Wider Path for Haley in New Hampshire

Straining to recover after a bruising defeat in Iowa, Gov. Ron DeSantis of Florida and his allies moved on Wednesday to shake up his operation yet again, with his super PAC carrying out layoffs and the campaign signaling that it would largely bypass New Hampshire’s primary election next week in favor of competing in South […]

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California Has Dealt a Blow to Renewable Energy, Some Businesses Say

California has long championed renewable energy, but a change in the state’s policies last year has led to a sharp decline in the installation of residential rooftop solar in the state. Thousands of companies — including installers, manufacturers and distributors — are reeling from the new policy, which took effect in April and greatly reduced […]

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Google Cuts Hundreds of Jobs in Engineering and Other Divisions

Google laid off hundreds of workers in several divisions Wednesday night, seeking to lower expenses as it focuses on artificial intelligence and joining a wave of other companies cutting tech jobs this year. The Silicon Valley company laid off employees in its core engineering division, as well as those working on the Google Assistant, a […]

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Google Cuts Hundreds of Jobs in Engineering and Other Divisions

Google laid off hundreds of workers in several divisions Wednesday night, seeking to lower expenses as it focuses on artificial intelligence and joining a wave of other companies cutting tech jobs this year. The Silicon Valley company laid off employees in its core engineering division, as well as those working on the Google Assistant, a […]

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Brisk Wage Gains in December Could Keep the Fed Watchful

Friday’s jobs data suggested that wages are still climbing briskly as hiring remains strong — facts that could keep the Federal Reserve wary as it contemplates its next move on interest rates. Fed officials raised interest rates from near zero to a range of 5.25 to 5.5 percent between March 2022 and last July, but […]

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The Messenger, Which Aimed to Transform Media, Faces Dire Financial Straits

Shortly before the media start-up The Messenger launched last year, its president said the company planned to generate more than $100 million of revenue in 2024. It will need a major turn in fortune to get there. The site generated about $3 million in revenue last year, according to two people with knowledge of the […]

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Ro Khanna: The Advent of A.I. Doesn’t Have to Mean the Death of Labor

Last September, tech’s biggest names trekked to Capitol Hill for a forum on artificial intelligence. In a meeting closed to journalists, executives briefed nearly two-thirds of the Senate on the future of A.I. A few respected labor and civic leaders were present, but the tech titans dominated the headlines. There’s an assumption in Silicon Valley […]

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The Eugene Weekly Halts Publication After Employee’s Embezzlement

A weekly newspaper in Oregon abruptly stopped publishing and laid off all of its workers after an employee embezzled tens of thousands of dollars and left months of bills unpaid, its editor said. The newspaper, The Eugene Weekly, announced on Thursday that it would stop printing after it discovered financial problems, including money not being […]

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