Money, Wealth & Power—A Daily Look at the Financial World
Newell Brands, the consumer products group behind Sharpie markers and Yankee Candle jars, is absorbing a roughly $180 million tariff and restructuring blow that is now translating into 900 lost jobs and dozens of shuttered stores. The company is trying to convince Wall Street that this is a painful reset rather than a slow bleed,…
Layoffs used to be framed as a last resort, delivered face to face and wrapped in at least a gesture of gratitude. Now they arrive as calendar invites, system lockouts, and mass emails that treat people like line items. As companies lean on “modern” tools and euphemisms to cut costs quickly, many workers are discovering…
Corporate job cuts in the United States have surged again, with more than 1.1 million positions eliminated in 2025 and the total climbing to about 1.17 m as the year closed. The pain is not spread evenly, and a handful of sectors are driving most of the losses as employers restructure around automation, higher borrowing…
The shock layoffs at a major Texas delivery hub have become a defining moment for the post‑pandemic labor market, crystallizing how fragile even seemingly essential logistics jobs can be when a single large customer walks away. Instead of a sudden collapse in consumer demand, the trigger this time was a concentrated business decision that exposed…
The collapse of a $2 billion luxury resort scheme has turned a marquee Ritz-branded dream into a cautionary tale about leverage, timing, and community risk. What was supposed to be a high‑end anchor for a booming region instead triggered a sudden shock that erased roughly 2,000 jobs and left a forest of idle cranes over…
Kroger is slashing thousands of jobs and closing dozens of stores just as a historic wave of retail theft and inflation collides with a failed mega‑merger and rising operating costs. The company is tying a headline figure of 9,000 job cuts to a broader restructuring that includes shutting 60 locations and rethinking how it serves…
For more than a century, a textile plant in rural Virginia spun yarn and jobs out of American cotton. Now that 109-year run is ending, with the company pointing a finger not at foreign rivals or automation, but at what it calls an “unsustainable energy model.” The shutdown crystallizes a broader question hanging over U.S….
A Bay Area fundraising startup that once promised to modernize charitable giving has instead landed in bankruptcy court, leaving nonprofits across the country short a combined $29 million in donor cash. The collapse has frozen money that organizations expected to use for education, health care, legal defense and other core services, turning a back-office tech…
General Motors is extending downtime at its Flint Assembly plant, sidelining heavy-duty pickup production and leaving roughly 1,100 workers on layoff for about five weeks. The move affects the Chevrolet Silverado HD and GMC Sierra HD, two of GM’s most profitable trucks, and lands at a moment when the company is already trimming output and…
The closure of four Gulf Coast chemical plants, tied to a $415 million financial hit, has abruptly erased 295 jobs and rattled manufacturing supply chains across the Southern United States. The decision by a Houston-based producer to pull back from key sites in two southern states is more than a local layoff story, it is…