Investors had a lot to digest this week, as government data stoked lingering doubts about the economy and a flood of earnings reports hit the tape. The major indexes all ended Thursday’s session lower, weighed down by a look at first-quarter U.S. gross domestic product that drastically missed expectations. But by Friday, upbeat earnings reports … Read more
Canada Goose parkas hang on display at a store in Richmond Hill, Ontario. Chris So | Toronto Star | Getty Images Canada Goose said Tuesday that it will cut about 17% of its corporate workforce, following a string of other retailers that have laid off employees this year as consumers continue to pull back on … Read more
Mathisworks | Digitalvision Vectors | Getty Images Corporate America has a message for Wall Street: It’s serious about cutting costs this year. From toy and cosmetics makers to office software sellers, executives across sectors have announced layoffs and other plans to slash expenses â even at some companies that are turning a profit. Barbie maker … Read more
A monopoly game sits under the Hasbro logo during Brand Licensing Europe at ExCel on November 18, 2021 in London, England. John Keeble | Getty Images Toy company Hasbro reported a more than 20% hit to its fourth-quarter revenue and issued a downbeat 2024 forecast Tuesday morning. Here’s how Hasbro performed in the fourth quarter … Read more
Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., February 6, 2024. Brendan McDermid | Reuters U.S. stock futures hovered near the flatline early Monday following a record-setting week for the S&P 500. Futures tied to the 500-stock benchmark were flat. Dow Jones Industrial Average futures slipped … Read more
Wayfair is cutting 13% of its global workforce as the digital home goods retailer continues its efforts to trim down its structure, cut out layers of management and reduce costs after going “overboard” with corporate hiring during the Covid pandemic, it announced Friday. The company plans to lay off around 1,650 employees, including 19% of … Read more
A FedEx worker delivers packages in New York, May 9, 2022. Andrew Kelly | Reuters After years of unbridled consumer spending on everything from home improvement to dream vacations, some companies are now finding the limits of their pricing power. Shipping giant FedEx last week said customers have shied away from speedier, pricier shipping options. … Read more
The Etsy website displayed on a laptop. Gabby Jones | Bloomberg | Getty Images Etsy is laying off 11% of its workforce at the height of the holiday season as the e-commerce giant looks to restructure its business and streamline costs against a “very challenging” macro and competitive environment, the company announced on Wednesday. Approximately … Read more
Hasbro is laying off about 1,100 employees as the toy maker struggles with soft sales that have carried into the holiday shopping season, according to a company memo obtained by CNBC. Hasbro had about 6,300 employees as of earlier this year, according to a company fact sheet. Shares of the company fell more than 4% … Read more
