Mark Zuckerberg warned employees Thursday that a hiring freeze and restructuring is coming to Facebook parent company Meta Platforms Inc. Meta’s META, -3.67% chief executive and co-founder made the announcement Read more
Tag: corporate strategy
Supply ‘lag’ helps lithium triple its prices in a year
Lithium prices have tripled in a year, and the chemical element, which is used in batteries for electric vehicles, faces a long-term supply shortage. The increase “is largely due to increasing demand for electric Read more
Bed Bath & Beyond stock falls nearly 2% after ‘accelerated markdowns’ led to much wider-than-expected loss
Shares of Bed Bath & Beyond Inc. dropped 1.9% in premarket trading Thursday, after the home-goods retailer reported a much wider-than-expected fiscal second-quarter loss, as markdowns and promotions were accelerated Read more
Crypto exchange FTX wins bid for Voyager’s assets
FTX US has won the bid for Voyager Digital’s assets for about $1.4 billion, more than two months since the crypto broker filed for bankruptcy restructuring and after several attempts Read more
Bed Bath & Beyond’s turnaround plan leaves ‘questions that have really not been answered to any degree’
When Bed Bath & Beyond Inc. reports fiscal second-quarter earnings on Thursday, analysts will have one big question on their minds: When will turnaround efforts pay off? The results for Read more
Waymo hires new finance chief who will focus on helping the company expand
Waymo LLC hired a new finance chief as the autonomous-vehicle company works to boost self-driving capabilities and expand in multiple regions. The Mountain View, Calif.-based company, a subsidiary of Google Read more
Meta is cutting staff without mentioning layoffs
In response to stalling growth and intense competition, Meta Platforms Inc. META, -0.94% executives have spoken of cost cuts, hiring freezes and “ruthless prioritization.” One word the company hasn’t used: layoffs. But Meta Read more
Ralph Lauren looks to boost profit margins after years of restructuring
Ralph Lauren Corp. aims to buy back more stock and boost its profit margins as it benefits from strong consumer demand after years of restructuring. The New York-based luxury retailer on Monday Read more
Chinese EV maker Zhejiang Leapmotor plans to raise over $1 billion in Hong Kong IPO
Zhejiang Leapmotor Technology Co. is planning to raise over 8.11 billion Hong Kong dollars ($1.03 billion) in an initial public offering to join a list of other Chinese electric vehicle Read more
‘Some companies are closing their doors, others are shutting down divisions’: Rocket CEO outlines plans to navigate the dramatic decline in mortgages
The mortgage industry is struggling with higher rates and a sharp drop in buyer demand. Rocket RKT, +0.53% says it’s got a plan to turn things around. There’s turmoil in Read more