Layoffs

Tesla Inc (NASDAQ: TSLA) has laid off 200 salaried and contract workers from its Autopilot team in California, Bloomberg News reported, citing people familiar with the matter. What Happened: The California Autopilot team had about 350 employees, some of whom were transferred to a nearby facility....

A leading streaming company is cutting more employees after posting a net loss of subscribers in the first quarter. Here are the details. What Happened: Netflix Inc (NASDAQ: NFLX) cut 300 positions Thursday, according to an exclusive report from Variety. The majority of the job cuts came from...

Major crypto exchange Coinbase Global Inc (NASDAQ: COIN) plans to slow hiring in the wake of rapidly declining cryptocurrency prices. What Happened: In an announcement on Tuesday, Coinbase said it would be reprioritizing its hiring needs after the current market downturn. “We’ve made an...

Netflix Inc (NASDAQ: NFLX) is reportedly laying off nearly 150 employees due to “business needs.” What Happened: A representative of the subscription video-on-demand firm said its “slowing growth” meant that it had to slow the “cost growth as a company,”...

Popular retail brokerage app Robinhood Markets Inc (NASDAQ: HOOD) plans to let go of 9% of its full-time employees. What Happened: In an announcement on Tuesday, Robinhood CEO Vlad Tenev explained the rationale behind the decision to reduce its employee count. “We grew net funded accounts...

A significant number of employees at logistics telematics company Omnitracs and SaaS provider DealerSocket were laid off this week, two months after both companies were acquired by Solera Holdings Inc. Many other employees received 90-day notices in a massive restructuring plan by Solera, a major...

Delta Air Lines, Inc. (NYSE: DAL), American Airlines Group, Inc. (NASDAQ: AAL) and Alaska Airlines Group Inc. (NASDAQ: ALK) followed United Airlines Holdings, Inc. (NASDAQ: UAL) lead on Sunday in permanently eliminating unpopular fees for changing reservations on all but the cheapest tickets. The...

The job market has not been kind this year. Many hopeful graduates fresh out of college; enthusiastic interns gearing up for a productive summer before heading back into academia; and workers falling under a threshold to companies’ immediate needs have been tirelessly searching for...

On today's Midday Market Update, Michael Vincent and Kevin Hill talk about the SONAR-powered data, issues and news that move you. On this episode, they're joined by Lori Ann LaRocco, senior editor of guests at CNBC; Jared Flinn, operating partner at BulkLoads.com; John Kingston, editor-at-large...

American Airlines Group, Inc. (NASDAQ: AAL) said it is making plans to reduce management and support staff by 30%, a precursor to more extensive frontline cuts expected in the coming weeks as the airline tries to stop using up cash for overhead and remain solvent beyond 2020. The moves are part of...

It's been a tough seven days for autonomous trucking startups. Last week, Kodiak Robotics laid off more than a dozen employees. And now Ike, another startup aiming to automate long-haul trucking, has laid off 14% of its staff, the Information reported on Wednesday. Exactly how many employees were...

Just three business days before a new round of entry-level sales representatives were scheduled to start work on April 20 at Cincinnati-based Total Quality Logistics, some received telephone calls from recruiters notifying them that their start date had been pushed back until sometime in May. This...

In a letter to rank and file members, the negotiating committee of the International Brotherhood of Teamsters informed members that YRC Worldwide (NASDAQ: YRCW) was given a grace period on health and welfare and pension fund contributions due to volume declines associated with the coronavirus. The...

A week after warning of the potential for future manufacturing shutdowns and layoffs on its fiscal second quarter 2020 (ended February 29) conference call, railcar and equipment manufacturer Greenbrier Companies, Inc. (NYSE: GBX) announced that it has idled railcar production at its flagship...

A "small number" of employees at FedEx Freight, the company's less-than-truckload (LTL) division, are being furloughed. FedEx Corporation (NYSE: FDX) confirmed reports that the furloughs will be "to align our workforce with current operational and business needs." In its statement, FedEx said the...