Layoffs

General Motors Co. (NYSE:GM) is reportedly laying off over 1,300 employees across two Michigan plants following termination of production for the Chevrolet Camaro and Bolt. What Happened: While a total of 945 workers will be laid off at the Lake Orion assembly plant, another 369 will be laid off at...

EV manufacturer Rivian Automotive Inc (NASDAQ:RIVN) has reportedly laid off around 20 employees, including key members from its long-range battery cell development team. What Happened: Among those terminated is Victor Prajapati, a former senior manager at Tesla Inc. (...

Stellantis NV (NYSE:STLA) has announced a cut in workforce at its Jeep manufacturing facilities in Detroit and Toledo, attributing the decision to California’s tough emissions requirements. What Happened: As reported by Bloomberg on Dec. 7, 2023, Stellantis is reducing Jeep production due to...

To gain an edge, this is what you need to know today. Making Money In Bitcoin Please click here for a chart of Bitcoin (CRYPTO: BTC). Note the following: On Friday when bitcoin was trading around $38,000, we wrote: Crypto bulls are hoping that whales will take advantage of low...

Citigroup Inc. (NYSE:C) is in the midst of a sweeping reorganization plan. What Happened: The New York-based investment bank is expected to cut approximately 10% of its senior staff. The move is part of an internal project known as Project Bora Bora and is reportedly far from its conclusion. The...

As part of its restructuring initiatives, Snap Inc (NYSE:SNAP) on Wednesday laid-off 20 employees who held product management titles. The decision, as reported by CNBC, is intended to “increase decision-making speed and reduce overhead” at the company. ReOrg: Back in August 2022, the...

Following the end of a 41-day strike, Ford Motor Company (NYSE: F) is laying off around 1,600 employees at its Louisville Assembly Plant, confirmed a company representative. According to the Detroit Free Press report on Saturday, the layoffs are a result of parts-related issues and will continue...

Earnings-wise, this a will be a quiet one before the next earnings season kicks off in mid-October. But layoffs are consistently in the air, with General Motors (NYSE: GM) and Ford Motor (NYSE: F) opening the week by announcing they will be laying off 500 more workers. Even the all-mighty Big Tech...

On Monday, General Motors (NYSE: GM) and Ford Motor (NYSE: F) revealed they will be laying off 500 workers from four of their Midwestern facilities as yet another consequence of the unprecedented UAW strike that kicked off on September 15th. Last week, Bloomberg reported that Tesla Inc (NASDAQ:...

On Thursday, the electronic signature company DocuSign Inc (NASDAQ: DOCU) lifted its full year guidance while beating both revenue and adjusted earnings estimates. Unfortunately, shares gave up early gains and slumped on Friday morning due to management warnings of narrower near-term margins....

A California federal judge has refused to dismiss a lawsuit accusing Elon Musk’s Twitter, now rebranded as X, of age discrimination during last year’s mass layoffs post the tech billionaire’s acquisition of the company.  What Happened: John Zeman, the...

Remember the sweeping layoffs the tech sector saw earlier this year? Some 937 tech companies laid off roughly 232,600 employees, with heavyweights such as Meta Platforms Inc (NASDAQ:META) and Microsoft Corp (NASDAQ:MSFT) cutting upwards of 5% of staff. It seems that trend may be replaced with a...

Crypto media outlet Coindesk is reportedly cutting nearly half its editorial team, a move that comes as its parent organization, Digital Currency Group, eyes the inclusion of strategic investors. In an internal announcement, as revealed by a memo obtained by The Block, the company communicated...

Internal polls at Microsoft Corporation (NASDAQ:MSFT) reveal a significant drop in employee morale and confidence in leadership since the beginning of the year, Business Insider reports. Employee Sentiment Plummets The company’s Daily Signals polls show that the percentage of employees...

Remember the lady who slept on the floor at Twitter (now rebranded as X) when her team was “pushing round the clock to make deadlines” — she has shared her experience and made some startling statements about working under Elon Musk‘s leadership.  ...