Category: Layoffs and Job Reductions

Volvo Shares Plunge as China Ambitions Fade for Western Carmakers

The New York Times – Business:
The Swedish automaker plans to cut another 2,500 jobs, joining competitors in offering a gloomy view of the world’s biggest car market.
Fearing Mass A.I. Layoffs, Some in Congress Eye Ways to Aid Workers

The New York Times – Business:
A bill to bolster the nation’s unemployment insurance program reflects the concern — and the risks — in Washington.
Barclays to Cut 5,000 Jobs in A.I.-Driven Push to Lower Costs

The New York Times – Business:
The move is the latest illustration of a company saying it believes it can be more efficient with fewer workers because of artificial intelligence.
Netflix Is Great at Making Money. Its Problem Is Keeping Viewers Hooked.

The New York Times – Business:
The streaming service reported a 12 percent increase in quarterly revenue, but acknowledged that stagnant viewership, particularly in the U.S. and Canada, was a major concern.
Black Unemployment Hints at a Job Market in Worse Shape Than It Seems

The New York Times – Business:
The Black unemployment rate climbed a percentage point to 7 percent in September, almost double the rate for white workers.
Netflix Hurries to Rewrite Its Narrative With Layoffs and a Sudden Firing

The New York Times – Business:
Despite strong revenues and profits, the streaming service cut 1,000 jobs and jettisoned its chief content officer. Drops in the stock price and viewer engagement are to blame.
Netflix Replaces Bela Bajaria as Chief Content Officer

The New York Times – Business:
Peter Rice, a former executive at Disney and Fox, will take over from Bela Bajaria.
Netflix, Facing Slowing Growth, Cuts 6% of Its Work Force

The New York Times – Business:
The streamer’s share price is down more than 40 percent over the last year as the company has struggled with stalling engagement.
Paramount Closes Its Deal for Warner Bros. Discovery

The New York Times – Business:
After a legal battle, Paramount has finally acquired Warner Bros. Discovery. The new company, Skydance, combines Hollywood studios, streaming services and cable networks.
BrooklynVegan Went From Indie Rock Blog to Ghost Site

The New York Times – Music:
It started as an internet outpost for die-hard music fans. Then came success. Then came corporate ownership.
Starbucks to Close 250 Stores in the US

The New York Times – Business:
The company said the affected cafes did not meet financial or customer service expectations.
What to Do If You’re Laid Off and Too Young for Medicare

The New York Times – Business:
At best, older, laid-off workers will struggle to find health insurance that bridges the years before they qualify for Medicare at age 65.