Salesforce Inc. plans to cut about 10% of its staff as part of a restructuring plan, the software company said Wednesday. The company will also exit some real estate and Read more
Tag: corporate strategy
Salesforce will lay off 10% of staff as part of restructuring
Salesforce Inc. plans to cut about 10% of its staff as part of a restructuring plan, the software company said Wednesday. The company will also exit some real estate and Read more
Credit Suisse flags $1.6 billion 4Q loss as wealth management comes under strain
Credit Suisse Group AG said Wednesday it expects to make a loss before taxes of around CHF1.5 billion ($1.58 billion)in the fourth quarter, as net-asset outflows cause its wealth-management business Read more
10 crazy things detailed in FTX’s bankruptcy filing
On Thursday, John Ray, III, the new CEO of FTX, dropped a long-awaited declaration in U.S. bankruptcy court, giving a sober assessment of the collapse of Sam Bankman-Fried’s crypto empire. Read more
Juul secures financing to avoid bankruptcy and plans to cut 30% of jobs globally
Juul Labs Inc. has secured a cash infusion from some of its early investors to stave off bankruptcy and plans to lay off about a third of its global staff, company Read more
Lucid posts wider quarterly loss, says it is ‘on track’ with luxury EV production
This update corrects Lucid’s Q3 2022 and Q3 2021 losses. Lucid Group Inc. stock fell about 9% in the after-hours session Tuesday after the electric-car maker reported a wider quarterly Read more
Binance plans to buy rival exchange FTX in deal that shakes up crypto industry
Binance, the world’s largest crypto exchange, has signed a letter of intent to acquire the non-U.S. assets of rival FTX, which faces a “significant liquidity crunch”, according to Changpeng Zhao, Read more
Gold, TIPS, bitcoin and alternative ETFs haven’t been the inflation hedges they were supposed to be
You may want to consider selling your inflation hedges. This coming Thursday’s report on the Consumer Price Index is projected to show U.S. inflation continuing its recent moderating trend (to Read more
Warner Bros. Discovery’s ‘tough juggling act’ sends stock dropping toward 13-year low
Shares of Warner Bros. Discovery Inc. were plunging Friday toward closing levels not seen since May 2009 as the media giant’s latest earnings report highlighted challenges prevalent across the industry Read more
Elon Musk plans to cut Twitter’s workforce in half: report
Elon Musk plans to slash Twitter Inc.’s workforce by 50% as soon as Friday, according to a new report. Citing anonymous sources with knowledge of the matter, Bloomberg News reported Read more