Money, Wealth & Power—A Daily Look at the Financial World
Kroger is walking away from a $121 million automated warehouse in Florida at a moment when the grocer is already under pressure to prove its online strategy and defend a contested megamerger. The decision to close the high-tech facility, built to anchor a delivery-only push in the state, underscores how quickly digital bets can sour…
Taubman Centers is closing its long-time Michigan headquarters and eliminating 105 jobs as part of the cleanup from its sale to Simon Property Group and the Taubman family. The move marks a symbolic end to the company’s era as an independent Bloomfield Hills-based mall owner and raises fresh questions about what remains of its local…
Tech’s biggest employers have shed more than 65,000 roles in a little over a year, even as they tout artificial intelligence as the next trillion‑dollar growth engine. The timing has invited a convenient narrative that AI is already automating away white‑collar work, but the pattern of cuts, the internal memos, and the financials point to…
A major packaging manufacturer is pulling out of two states at once, closing plants and cutting every job at those locations in a sweeping retrenchment that hits workers, suppliers, and local tax bases all at once. The shutdowns, framed by executives as a response to shifting demand and cost pressures, leave entire workforces facing abrupt…
UPS’s decision to slash thousands of jobs is not just a cost-cutting headline, it is the clearest signal yet that the company is trying to rebuild its business model around slower e‑commerce growth, higher labor costs, and a more demanding shareholder base. I see the cuts as the culmination of several pressures that have been…
Kroger is unwinding one of the most ambitious automation bets in American grocery, closing three high-tech fulfillment centers and effectively drawing a line under a $2.6 billion push to reinvent how it fills online orders. The retreat marks a sharp turn for a strategy that promised warehouse-scale robotics and rapid delivery, and it raises pointed…
General Motors is hitting the brakes on one of its most ambitious electric-vehicle investments and shedding thousands of factory jobs, a sharp reset that cuts across assembly lines and battery plants in several states. The company is pausing construction on a multibillion-dollar battery megafactory while eliminating more than 3,000 positions tied to its EV rollout,…
Texas trucking and logistics employers are shedding jobs at a pace that is reshaping how freight moves across the state, from oilfield runs to tech-enabled urban routes. Instead of a single dramatic collapse, a series of shutdowns, bankruptcies and deep layoffs has left thousands of drivers, dispatchers and warehouse workers facing uncertain futures. I see…
Kroger’s retreat from Florida marks a rare admission of defeat by one of the country’s largest grocers in a state that has become a proving ground for supermarket dominance. After years of trying to crack a market defined by fierce regional loyalty and aggressive national rivals, the company is walking away from a costly experiment…
Layoffs that began in tech and media are now rippling across airlines, retail, logistics, and telecom, turning 2025 into a year of sweeping corporate retrenchment. Major employers are cutting thousands of roles at once, reshaping career paths and testing the resilience of a labor market that had seemed unshakably tight just a year ago. I…