The software giant faces mounting pressure from activist investors and pushback from employees unhappy about a wave of firings and the scaling back of office perks.
Category: Company Reports
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Salesforce Faces Mounting Investor Pressure As Profits Sag
The New York Times – Business: -
Rivian Lost $6.8 Billion Last Year as Production Fell Short
The New York Times – Business:The maker of electric trucks said it expected to double production in 2023 as the supply of parts became more reliable.
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Berkshire Hathaway Reports Major Investment Losses in 2022
The New York Times – Business:After a $22.8 billion loss, Warren Buffett called the figure “100 percent misleading” and urged shareholders to focus on his empire’s overall health.
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Lucid Motors Steps Up Production as Supply Chain Problems Ease
The New York Times – Business:The maker of electric luxury sedans said it made more than 7,000 cars in 2022, achieving a scaled-down target.
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Walmart Warns That Shoppers Are Feeling the Squeeze of Higher Prices
The New York Times – Business:The retail giant reported strong results for the holiday shopping season, but said that the coming year would be tougher.
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Norfolk Southern’s Profits and Accident Rates Rose Before Ohio Derailment
The New York Times – Business:Safety experts say a focus on financial returns may be partly to blame for derailments and accidents like the one in Ohio.
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Magic: The Gathering Generates $1 Billion in Sales for First Time
The New York Times – Business:The fantasy card game has surpassed the sales of the 100-year-old company’s other brands, including Transformers and G.I. Joe, but some are worried about the downsides of rapid growth.
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Adidas Tumbles as Losses From Its Kanye West Venture Pile Up
The New York Times – Fashion & Style:Shares in the German sportswear brand fell sharply on Friday as the company grapples with a mountain of unsold Yeezy merchandise.
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Big Brands Keep Raising Prices, With Limited Shopper Resistance
The New York Times – Business:Consumers continue to absorb significant price increases by PepsiCo, Unilever and others. The companies say that prices will remain high in the months to come.
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Activist Disney Investor Declares End to Battle for Board Seat
The New York Times – Business:The move by Nelson Peltz came a day after the company’s C.E.O., Bob Iger, announced a restructuring that will cut $5.5 billion in costs and eliminate roughly 7,000 jobs.
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With Traditional TV in Free Fall, Disney Looks to Cut Costs
The New York Times – Business:In the company’s first earnings report since Bob Iger returned as C.E.O., it exceeded Wall Street’s expectations. But thousands of employees are expected to be laid off.