GM is laying off half of Cruise’s workforce as it bails on robotaxis
After nine years and $10 billion in investment, is scrapping Cruise, its robotaxi biz, for parts. The US’s largest automaker said it would lay off about half of Cruise’s workforce — likely more than ...
Estée Lauder shares sink on weak outlook and a billion-dollar restructuring charge
Estée Lauder shares tumbled more than 10% on Tuesday after the beauty giant gave a weak outlook for the current quarter, took a $1 billion restructuring charge, and said it plans to cut up to 7,000 jo...
The job market is tough for new graduates — even if you dropped $200,000 on an elite MBA
The US labor market is in decent shape : layoffs have been pretty limited, job growth has been solid, and unemployment remains near record lows. But that optimism doesn’t extend to fresh college grads...
Vail Resorts is not having an epic year
Few companies have had quite as tumultuous a start to the year as mountain giant Vail Resorts. So far this year, Vail has battled a labor dispute , which closed trails at one of its most prominent res...
Big booze dealt another blow as Brown-Forman cuts 12% of its workforce
It doesn’t matter how hard you went on December 31st, your start to 2025 won’t have been as rough as the alcohol industry’s. After a stark health warning from the nation’s top doctor, , which counts J...
Jamie Dimon’s succession picture just got clearer — or a lot more muddy
It’s long been understood in banking circles that the successor to Jamie Dimon was likely to be Jennifer Piepszak or Marianne Lake. They’ve been consistently reported as the top contenders to be the n...
Southwest’s cost cutting expands into a hiring freeze
is freezing corporate hiring and promotions, pausing most summer internships, and skipping its annual team-building “rallies” as it continues to cut costs. The move follows a year of cuts at Southwest...
21 states kicked the year off by raising the minimum wage
To millions of Americans, January 1 meant a sore head, devising and revising resolutions, and maybe trying to make the most of a day off. For millions of others, it meant a New Year’s pay bump. Welcom...
Nearly 2,000 CEOs left their jobs in the US last year, a record high
Whether they’re resigning, retiring, or being shown the door, more US CEOs said goodbye to their companies last year, with 1,991 CEOs exiting their firms in 2024, per a new report . That’s the highest...
Starbucks strike escalates a fifth and final time, reaching 300 stores as company’s stock wraps up a dismal year
A union representing Starbucks workers said its members at over 300 stores will walk out on Christmas Eve after the company failed to budge on their contract demands. Tuesday marks the fifth and final...
The Animation Guild ratified its new contract with studios, despite members’ AI concerns
After three months of negotiations, the more than 5,000-member Animation Guild (a Hollywood union representing artists, writers, and other animation workers) has ratified a new contract. But as with s...
Starbucks CEO’s honeymoon is over, as strikes expand to 12 states
The workers’ five-day strike that began Friday in LA, Chicago, and Seattle has expanded to stores in 12 states . At least 30 stores nationwide were closed as of Sunday — not a great thing for a compa...
Starbucks workers stage walkout, threatening annual sales bump
Starbucks workers in Los Angeles, Chicago, and Seattle plan to walk off the job starting Friday morning in a strike that could reach hundreds of stores across the country by Christmas Eve. The strike ...
Tokyo's latest attempt at creating a baby boom: a four-day work week
One of the more shocking demographic trends over the past 60 years has been the collapse in global fertility rates, especially in developed countries. In 1960, the total fertility rate for OECD countr...
Labor board: “Love Is Blind” cast members are employees
Last week, the National Labor Relations Board issued a complaint against producers of reality hit “Love Is Blind,” alleging that they’d misclassified the show’s contestants as “participants.“ Accordi...
Table that: Amazon delays its return to office because it doesn't even have enough office
Amazon recently told workers they had to return to the office full time, but it doesn’t have enough space for everyone, Business Insider reports . Some employees in Atlanta, Houston, Nashville, and Ne...
Getting a college degree doesn’t guarantee a good job like it used to
Last week’s November jobs report signaled a still-strong labor market, but if you’re a recent college grad with a shiny new diploma, your reality might not be matching up with the overall mood. Accord...
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Amazon’s RTO hasn’t affected other companies’ office policies
Typically, other employers look to , one of the biggest employers and one of the most valuable companies in the country, to set the tone on workplace trends. But the internet behemoth’s announcement i...
Citi can’t risk laying more people off. So it will cut pay and scrap promotions until they leave willingly
One of the more interesting labor trends of 2024 has been companies attempting to cut costs by decreasing headcounts without actually laying anyone off. Back in September, for example, Amazon’s CEO An...
The share of US workers who are “thriving” has fallen to a record low
In January 2009, when the Great Recession had upended the everyday working lives of millions of Americans, Gallup started measuring the well-being of US employees with its Life Evaluation Index . Over...