The company said the layoffs were a final step after asset sales rather than a sign of weakness in its business.
Category: Company Reports
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IBM Announces 3,900 Job Cuts
The New York Times – Business: -
Tesla’s Profit Jumped 12% in Fourth Quarter
The New York Times – Business:The electric car company is facing intensifying competition, supply chain disruptions and concerns about the behavior of Elon Musk.
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Microsoft Revenue Up 2 Percent, but Profit Drops 12 Percent
The New York Times – Business:The company, which announced plans to lay off 10,000 workers last week, had warned that is was facing a significant slowdown in the growth of its sales.
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Microsoft Revenue Up 2 Percent, but Profit Drops 12 Percent
The New York Times – Business:The company, which announced plans to lay off 10,000 workers last week, had warned that is was facing a significant slowdown in the growth of its sales.
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Washington Post Lays Off 20 Journalists
The New York Times – Business:A further 30 open positions will not be filled. The overall size of the newsroom is expected to return to its current level after The Post makes new hires in the affected departments.
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Senators Will Prod Live Nation and Ticketmaster on Antitrust
The New York Times – Business:The company’s grip on ticket sales, and its move last year to cancel sales for Taylor Swift’s upcoming tour, will be a big focus of an antitrust-focused hearing.
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Spotify to Lay Off 6% of Its Work Force
The New York Times – Business:The audio streaming platform becomes the latest big technology company to cut costs over worries about the economy.
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Reed Hastings to Become Netflix’s Executive Chairman, Ceding Co-Chief Role
The New York Times – Business:Mr. Hastings will become the streaming giant’s executive chairman. Greg Peters will join Ted Sarandos as a co-chief executive.
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Shift to Remote Work Puts Pressure on Chains Like Sweetgreen
The New York Times – Business:Downtown lunch spots that rely on catering to white-collar professionals are rethinking their business model as more employees work from home.
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Procter & Gamble Sales Fall for First Time in Years as Inflation Squeezes Shoppers
The New York Times – Business:The consumer goods giant raised prices 10 percent last quarter, but a decline in sales volume led to drops in revenue and profit.
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Microsoft to Lay Off 10,000 Workers as It Looks to Trim Costs
The New York Times – Business:The job cuts, which amount to less than 5 percent of the company’s work force, are its largest in roughly eight years.
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Goldman Sachs Earnings Fall Short of Expectations, Causing Alarm
The New York Times – Business:The Wall Street giant reported that its profit fell by nearly 70 percent in its latest quarter, lagging results at its rival Morgan Stanley.