REI has laid off 167 people from its headquarters, citing "increasing uncertainty" and a need to get back to profitability.
The layoffs affected 8% of the co-op's headquarters workforce and less than 1% of its total head count, President and CEO Eric Artz said in a letter to employees on Tuesday.
REI shifted to remote work in 2020, meaning ...Read more
Meta Platforms Inc. Chief Executive Officer Mark Zuckerberg struck a new tone with investors Wednesday: The social media giant will be leaner, more efficient and more decisive, with a big assist from artificial intelligence.
The company’s shares gained more than 20% in late trading on fourth-quarter revenue that beat expectations. Zuckerberg,...Read more
Taxi drivers may soon have to pick up passengers at the airport in a different area, farther from the airport doors, as the city plans to swap out the taxi zone and the rideshare zone. The Taxi Workers Alliance of Pennsylvania is suing the city in an attempt to prevent the zone change.
The proposed change would move taxi pickup from Zone 5, ...Read more
Meta Platforms Inc. posted quarterly sales that topped estimates, gave a rosy revenue forecast and indicated Facebook and Instagram still have room to grow, signaling it’s on course for a turnaround after its most difficult year.
The company’s shares jumped more than 18% in extended trading after a fourth-quarter sales beat that was fueled ...Read more
For each of Duke Health’s hundreds of thousands of patients, the institution keeps an exhaustive record of valuable health data.
Every medication they’ve been prescribed, every blood pressure reading or temperature recorded, every diagnosis given, every doctor’s note and images from every MRI or X-ray are all cataloged in Duke’s ...Read more
So, Tom Brady is finally retiring. The longtime National Football League quarterback has, of course, made such announcements before. Maybe this time it’s for real? We’ll see.
It’s understandable that it’s so hard to say goodbye. Plenty of people with less-glamorous jobs have trouble retiring. And about half of Americans actually don’t...Read more
DETROIT and LAS VEGAS — Delta Air Lines Inc. on Wednesday launched free WiFi on 75% of its domestic mainline aircraft, an early step toward its overhaul of in-flight entertainment in favor of personalization and free services like Paramount+ streaming, New York Times puzzles and more.
Expectations around the transportation experience are ...Read more
Federal Reserve Chair Jerome Powell said policymakers expect to deliver a “couple” more interest-rate increases before putting their aggressive tightening campaign on hold, even as they slowed their drive to curb inflation.
Powell and his colleagues lifted the Fed’s target for its benchmark rate by a quarter percentage point to a range of...Read more
Leaving multiple unfilled jobs openings behind them and ignoring the economic storm clouds ahead of them, Coloradans filed to create a record number of new businesses last quarter, according to a report Monday from the Colorado Secretary of State Jena Griswold and the University of Colorado Boulder’s Leeds Business Research Division.
Time ...Read more
The Federal Reserve’s policy-setting committee lifted interest rates on Feb. 1, 2023, by a quarter of a percentage point to a range of 4.5% to 4.75%. The increase, the smallest since the Fed began an aggressive campaign of rate hikes in March 2022, came amid signs the fastest pace of inflation in decades is cooling. But the Fed also ...Read more
The Federal Reserve slowed its drive to rein in inflation and said further interest-rate hikes are in store as officials debate when to end their most aggressive tightening of credit in four decades.
Chair Jerome Powell and fellow policymakers lifted the Fed’s target for its benchmark rate by a quarter percentage point to a range of 4.5% to 4...Read more
Startup electric truck manufacturer Rivian said Wednesday it is laying off 6% of its workforce, including a small number of nonmanufacturing employees at its downstate Normal assembly plant.
California-based Rivian has about 7,000 employees at its assembly plant and 14,000 across the company, meaning about 840 total positions are being ...Read more
Vacancies at U.S. employers unexpectedly increased at the end of 2022, illustrating a solid appetite for labor that the Federal Reserve sees as one of the last hurdles to bring down inflation.
The number of available positions climbed to a five-month high of just over 11 million in December from 10.4 million a month earlier, the Labor ...Read more
The U.S. Bureau of Labor Statistics has released a report that reveals the 20 jobs with the highest projected percentage change in employment between 2021 and 2031. The list of fastest growing occupations for the next decade is topped by one of the health care industry’s most crucial positions — nurse practitioner.
With a median pay of $120...Read more
It wasn't long ago that Barnes & Noble seemed to be on the glide path to extinction.
At the end of 2018, the giant bookselling chain reported its seventh quarterly loss in a row, red ink of $27.3 million on sales of $117.2 million. Its management was in turmoil: That summer, Barnes & Noble fired its fourth chief executive in four years. Over ...Read more
Kevin McCarthy reportedly promised many things to Republican hardliners en route to clinching his job as speaker of the U.S. House of Representatives. One of them was a “balanced budget” in 10 years.
As part of that plan, Republicans are demanding substantial spending cuts and budget reforms in exchange for lifting the debt ...Read more
Post Consumer Brands has launched a new type of cereal called OK GO! — but the band with the same name says OK, no.
Post is asking a federal judge to resolve the months-old dispute and remove "the constant threat of unfounded future litigation" the company says it faces over the trademark, according to a suit filed earlier this month.
by Brian Merchant
In Silicon Valley, the new year began as the last one ended — with tens of thousands of tech workers losing their jobs. Just a few days into 2023, Amazon Chief Executive Andrew Jassy announced that there would be 18,000 layoffs across the company. Within weeks, Microsoft revealed it was slashing its head count by 10,...Read more
For months, Andrés Vásquez’s days working on the first-person shooter game “Doom” blended into one another.
A quality assurance tester for id Software in Texas, he spent 10 hours a day sitting at a desk and “crunching” on the game with his colleagues, repeatedly playing through its map creation mode and running through multiplayer ...Read more
ELKO, Nevada — When Ruby B. Sutton found out she was pregnant in late 2021, it was hard to envision how her full-time job would fit with having a newborn at home. She faced a three-hour round-trip commute to the mine site where she worked as an environmental engineer, 12-plus-hour workdays, expensive child care, and her desire to be present ...Read more
- I helped balance the federal budget in the 1990s – here's just how hard it will be for the GOP to achieve that same rare feat
- How Big Tech is using mass layoffs to bring workers to heel
- Michael Hiltzik: Barnes & Noble saved itself by putting books first. Imagine that
- Is China's shrinking population an economic cause for alarm in the US?
- The final Boeing 747: Farewell, Queen of the Skies