President Joe Biden will begin to lay out a second-term agenda Thursday night in his State of the Union address to Congress, shifting to a campaign footing ahead of his expected rematch with former President Donald Trump this November. White House aides said Biden will highlight the post-Covid economic recovery and lay out the administration’s […]
Starbucks’ Middle East franchisee, Alshaya Group, is cutting thousands of jobs at its coffee shops because of a “challenging” work environment as the chain grapples with boycotts over the brand relating to Israel’s war against Hamas in Gaza. In a statement to CNN, Alshaya said the layoffs are the “result of the continually challenging trading […]
Chinese Premier Li Qiang announced a 5% economic growth target for 2024. The goal faces headwinds such as a property crisis, deflationary pressure, and a demographic crisis. Economists suggest Beijing may need to inject more stimulus into its economy to reach the target. China is laying out ambitious growth goals for 2024, and Beijing knows […]
Relatives and supporters of Alexei Navalny are bidding farewell to the opposition leader at a funeral Friday in southeastern Moscow, following a battle with authorities over the release of his body after his still-unexplained death in an Arctic penal colony. His supporters say several churches in Moscow refused to hold the service before Navalny’s team […]
Google has initiated significant layoffs across its various teams, including the Voice Assistant, hardware, engineering and ad sales teams, marking a continuation of the tech industry’s trend towards reducing workforce expenses. The layoffs have affected hundreds of employees within the Voice Assistant unit; hardware teams responsible for Pixel, Nest and Fitbit products; and a considerable […]
San Francisco-based fintech Affirm is laying off 60 Pittsburgh employees, starting on Feb. 15 through April 30, according to a Warn Notice filed with the Pennsylvania Department of Labor & Industry. All work remotely, the Warn Notice said. “We consolidated several operations teams,” an Affirm spokesperson confirmed Friday via email. “Unfortunately, these changes resulted in […]
By Mehnaz Yasmin (Reuters) -Investment banking giant Morgan Stanley is planning to cut hundreds of jobs in its wealth management unit, according to a person familiar with the matter, the latest in a string of layoffs that Wall Street firms have undertaken since last year. The cuts will impact less than 1% of the division’s […]
PayPal is laying off nine percent of its workforce, the company’s CEO Alex Chriss told staff in a letter on Tuesday that PayPal made public hours later. The decision will impact about 2,500 employees, who will find out their fate between today and the end of the week, Bloomberg reported earlier. PayPal’s layoffs come almost […]
Two large Pizza Hut operators in California are laying off all their delivery drivers ahead of a new state law that raises the minimum wage for fast-food workers to $20 an hour, Business Insider reports. The layoffs impact hundreds of Pizza Hut locations across the state including Los Angeles, Orange, Riverside, Ventura and San Bernardino […]