In an internal meeting this week, Mr. Zuckerberg said the tech giant was facing one of the “worst downturns that we’ve seen in recent history.”
Tag Archives: Layoffs and Job Reductions
Crypto Crash Widens Divide Between Rich and Amateur Traders
No cryptocurrency investor has been spared the pain of plunging prices. But the fallout from more than $700 billion in losses is far from even.
Bitcoin Plummets Below $20,000 for First Time Since November 2020
Its fall was accelerated in recent weeks by the collapse of two major cryptocurrency projects while sowing doubts about the stability of the overall cryptocurrency market.
Inflation Expected to Remain High Even as Economy Slows and Layoffs Rise
Inflation is expected to remain high later this year even as the economy slows and layoffs rise. Already, signs of financial stress are surfacing.
Musk to Attend Twitter All-Hands Meeting
Musk will attend a virtual all-hands meeting as his $44 billion acquisition of the company moves ahead, despite his hand-wringing about bots.
Inside a Corporate Culture War Stoked by a Crypto C.E.O.
Jesse Powell, who leads the crypto exchange Kraken, has challenged the use of preferred pronouns, debated who can use racial slurs and called American women “brainwashed.”
Crypto Firms Quake as Prices Fall
Crypto companies are laying off staff, freezing withdrawals and trying to stem losses, raising questions about the health of the ecosystem.
The Potential Dark Side of a White-Hot Labor Market
The strong job market may be about to take a turn for the worse. That could come to haunt those who made choices based on today’s conditions.
Britain Tests a 4-Day Workweek
A six-month program involving thousands of workers across 70 companies in Britain will be the latest effort to assess the effects of a shorter workweek.
Tesla to Cut 10% of Salaried Staff, Musk Tells Employees
The electric carmaker has been growing fast in recent years, but Elon Musk, its chief executive, appears to be concerned about a weakening economy.
How Jack Welch’s Reign at G.E. Gave Us Elon Musk’s Twitter Feed
The onetime ‘manager of the century’ paved the way for C.E.O.s to moonlight as internet trolls.
Elon Musk, Chaos Monkey
The billionaire’s increasingly erratic behavior on Twitter distracts from the terrible math behind his bid to buy it.
What Higher Interest Rates Could Mean for Jobs
Layoffs are up only minimally, and employers may be averse to shedding workers after experiencing the challenges of rehiring.
Working Mothers, Punished by Pandemic, Mostly Kept Working
When it came to who lost jobs, education mattered much more than gender, a broad new analysis found.
Fear and Loathing Return to Tech Start-Ups
Workers are dumping their stock, companies are cutting costs, and layoffs abound as troubling economic forces hit tech start-ups.
China’s Covid Lockdowns Leave Millions Out of Work
Migrant workers and recent college graduates have been hit hardest by shuttered factories, closed construction sites and an anemic job market.
Abortion Is a Business Issue
Women make up half of the work force, but the issue’s divisiveness has led many companies to keep quiet on the issue for now.
China sets an economic stimulus plan to offset Covid lockdowns.
As new cases of the coronavirus crop up in Beijing, China’s leaders are offering nationwide subsidies to businesses, and two large cities are subsidizing consumers.
Inside the Implosion of CNN+
Seen as the future of CNN, the streaming channel was suddenly killed. Its soon-to-be owner, Discovery, had concerns but until the deal closed, it was constrained in guiding a competitor.
Gopuff Buys Time for Its 30-Minutes-or-Less Delivery Promise
The $15 billion rapid-delivery start-up decided to do business differently from rivals like Instacart. A changing environment is testing its model.
For Macron, France’s Troubled Industries Hit Home
President Emmanuel Macron vowed an economic revival, but as he seeks re-election, a Potemkin factory in the town where he was raised shows just how hard that can be.
P & O Ferries Lays Off 800 U.K. Workers With No Notice
The abrupt terminations caused widespread service cancellations and drew immediate backlash from government officials and unions.
Facing Economic Calamity, Putin Talks of Nationalizing Western Businesses.
With the ruble collapsing, the economy contracting and people abandoning the country, Russia’s leader talks of a Western plot to destroy the country.
U.S. Employers Still Scrambling to Fill Vacancies, Report Shows
Openings remained high in January, the Labor Department reported, as did the number of workers quitting their jobs.
Why So Many People Became Real Estate Agents in the Pandemic
The industry is drawing workers while nearly every other job sector has struggled with hiring. As few as 10 percent of them will last long enough to make a full-time living selling homes.
Starbucks Is Moving to Oust Workers in Buffalo, Union Supporters Say
Some employees who back unionization efforts have been told they must increase their work availability or leave. The company cites scheduling issues.
The Age of Anti-Ambition
When 25 million people leave their jobs, it’s about more than just burnout.
Hating Your Job Is Cool. But Is It a Labor Movement?
Inside the rise and fall of r/antiwork — the Reddit community that made it OK to quit, but couldn’t quite do anything else.
N.Y.C. Fires 1,430 Workers Over Vaccine Mandate
The figure is likely the largest mass termination of U.S. municipal employees in response to a Covid vaccine mandate.
Making ‘Dinobabies’ Extinct: IBM’s Push for a Younger Work Force
Documents released in an age-discrimination case appear to show high-level discussion about paring the ranks of older employees.
How The Trucker Protests Are Snarling the Auto Industry
Blockades of U.S.-Canada border crossings could hurt the auto industry, factory workers and the economy, which are still recovering from pandemic disruptions.
Nearly 3,000 N.Y.C. Workers Have a Day to Get Vaccinated or Be Fired
Mayor Eric Adams has embraced a vaccine mandate for city workers and warned that thousands would get fired this week if they were not vaccinated.
Peloton says its C.E.O. will step down and announces 2,800 layoffs.
Barry McCarthy, the former chief financial officer of Spotify, will take the helm of the stationary bike company, which has struggled as demand for its products has waned.
Little of the Paycheck Protection Program’s $800 Billion Protected Paychecks
Only about a quarter of the funding went to jobs that would have been lost, new research found. A big chunk lined bosses’ pockets.
Will Robots Really Destroy the Future of Work?
A new book argues that workers can thrive despite technology that eliminates jobs.
Peloton considers layoffs but denies a report it will pause bike production.
The company has faced an abrupt change in fortune over the past year, from complaints that it couldn’t deliver bikes on time, to a drop in demand as gyms reopened and pandemic restrictions were lifted.
As Beijing Takes Control, Chinese Tech Companies Lose Jobs and Hope
The crackdown is killing the entrepreneurial drive that made China a tech power and destroying jobs that used to attract the country’s brightest.
The Pandemic Struck Orchestras With Underlying Conditions Hard
With the coronavirus crisis exacerbating longstanding budget woes, the San Antonio Symphony wants to cut pay and positions. Its musicians have gone on strike.
Jobless for a Year? That Might Be Less of a Problem Now.
People who were out of work for a while have typically found it much harder to get a job. The pandemic may have changed how employers view people who have been unemployed for months or years.
Why New York City’s Jobless Rate Is Double the Rest of the Country’s
The city has regained fewer than 6 of every 10 jobs it lost since the pandemic began, while the nation as a whole has regained more than 90 percent of lost jobs.
Better.com’s C.E.O. ‘Taking Time Off’ After Firing Workers Over Zoom
The mortgage lender’s board announced the decision in a memo sent to staff, adding that the company had brought on a third-party firm to assess its leadership and culture.
Better.com C.E.O. Apologizes for Firing Workers Over Zoom
Vishal Garg said in a letter to employees on Tuesday that he had failed to show “respect and appreciation” in the call, which has been widely criticized.
India’s Economy Still Weak, Despite a Strong Third Quarter
Covid-19 essentially robbed the country of more than a year of badly needed economic growth. That’s lost ground that cannot be regained quickly.
Volkswagen C.E.O. Herbert Diess Sets Sights on Beating Tesla
Herbert Diess, the chief executive, seeks to cast VW as a dynamic, modern company, but his style risks the ire of its powerful works council.
Is the Four-Day Workweek Finally Within Our Grasp?
After embracing flexible work styles during the pandemic, some companies are now embracing a shorter week.
Powell’s Books Survived Amazon. Can It Reinvent Itself After the Pandemic?
As much as any city, Portland, Ore., has been through hell. Its landmark store, Powell’s Books, must finally build a viable online business while recapturing its downtown success.
American Airlines Cancels Hundreds of Flights This Weekend
The carrier blamed bad weather and staffing shortages. It was the second airline this month to face significant disruptions.
British Museums Face Covid’s Long-Term Effects
Months of closures during the pandemic have caused financial havoc for art venues, and many expect to be strapped for years. At the Victoria and Albert Museum in London, the virus’s impact is clear.
In East Africa, Safari Workers Wash Cars, Fry Fish and Struggle to Survive
The loss of international tourism had decimated the livelihoods of thousands of travel and hospitality workers, who have had to take on odd jobs and borrow money to endure the pandemic.
Our Generic Drug Supply Is Sick
Competition for market share at rock-bottom prices has led to shortages, price-spikes, allegations of price-fixing, and substandard and even dangerous practices.