“Madden” maker Electronic Arts scraps games and lays off hundreds of employees
For the fourth time since 2023, games publisher is doing a round of layoffs. The “Madden” maker is reportedly cutting between 300 and 400 jobs, including about 100 at a subsidiary that was developing...
AI is set to replace contractors at Duolingo as part of a “platform shift”
CEO Luis von Ahn announced that the language learning platform is moving to become “AI-first” in an email sent to employees, and posted to the company’s LinkedIn on Monday — noting that the technology...
Palantir’s Alex Karp made $6.8 billion last year
Alex Karp was compensated $6.8 billion in 2024, the company reported Friday, a remarkable figure that would seem to rank among the largest annual pay packages ever recorded for America’s well-remunera...
Intel set to cut 20% of staff: Report
is poised to announce a 20% cut to its workforce this week, according to a report from Bloomberg. Shares are up 6% in early trading, outpacing the strong rally across Wall Street. This restructuring i...
Hims COO to depart in coming months
Hims & Hers’ Chief Operating Officer Melissa Baird will transition to an advisory role, the company announced in a Monday evening regulatory filing . Baird, who has been at the company since 2018, sho...
The UK job market just saw its biggest drop since Covid
The UK job market looked a little like 2020 again last month. According to the Office for National Statistics, the number of payrolled workers dropped by 78,000 in March — the steepest monthly fall in...
More Americans are on the lookout for jobs in the UK
For many Americans, the nation’s economic vibes have felt a little off recently: inflation expectations are hitting 44-year highs ; many believe that their tax rates aren’t fair ; some are even tappin...
Americans are tapping into their 401(k)s like never before
For decades, 401(k)s have been a staple of US retirement savings, designed to sit as untouched nest eggs that workers build up for their golden years. However, that idea is starting to crack, as more ...
Shopify is looking to AI to keep its workforce lean
In an internal memo to staff, which he then made public after it got leaked yesterday, Shopify CEO Tobi Lütke announced a raft of new company policies and expectations around AI — most notably the fac...
Reassuring US job growth provides a small comfort blanket for traders fretting over tariffs
We have no clue how much pain tariffs, retaliatory tariffs, and counter-retaliatory tariffs are going to inflict on the US economy going forward. But one thing we have learned is that the American lab...
Stellantis to lay off hundreds in US, pause work at plants in Mexico and Canada because of tariffs
In response to President Trump’s 25% tariffs on imported vehicles, Jeep maker on Thursday said it’s laying off 900 US workers across five facilities and temporarily pausing production at two assembly...
Accenture’s DOGE problem sends shares sliding
is the worst-performing S&P 500 stock in early trading, down 7% even after the consultancy reported quarterly results that were largely better than expected. The DOGE-shaped fly in the ointment: manag...
Puma shares post worst day ever as German sneaker giant cuts jobs, gives profit warning
Puma shares plunged as much as 25% — their worst drop ever — after the German sneaker company warned of weaker profits and announced 500 job cuts as part of its restructuring plan. Puma’s stock has al...
Multiple jobholder rates are the highest they’ve been since the Great Recession
For more and more US adults in the current economy, it seems like one job is just no longer enough. According to Friday’s job report, the number of multiple jobholders in the US surged to a record 8.9...
Kroger CEO steps down after board investigation finds personal conduction violation
shares initially fell as much as 4% in premarket trading (but recovered most of the losses) after the abrupt resignation of longtime CEO Rodney McMullen. McMullen, who spent over 50 years at Kroger an...
Nvidia added only 6,400 new employees to its workforce last year
Whether AI brings about the golden era of productivity that many tech leaders endlessly talk about — enabling all of us to do more with less — is still worth arguing about. But the main character of t...
Mass layoffs at Starbucks show Brian Niccol’s turnaround plan isn’t all Sharpies and cinnamon
said it’s laying off 1,100 corporate workers by tomorrow morning and also won’t fill hundreds of open roles — a significant workforce reduction that adds a new layer to CEO Brian Niccol’s turnaround p...
Southwest’s cost cutting expands into its first mass layoff
on Monday said it will cut roughly 15% of its corporate workforce, the first mass layoff in its 53-year history. The nearly 1,800 job cuts add to an already substantial list of cost-cutting measures u...
Meta is cutting 5% of its workforce, extending its AI-driven efficiency era
Less than two weeks after reporting that the company had grown its headcount in 2024, Meta is doubling down once again on its efficiency-first ways. As of Monday morning, the Facebook parent company b...
Workday shares jump on layoff announcement and AI investment plans
shares rose nearly 3% after the company announced plans to cut 1,750 jobs, or 8.5% of its current workforce, in an 8-K filing on Wednesday. The layoffs are part of a broader company strategy to expand...