Money, Wealth & Power—A Daily Look at the Financial World
Sam Altman used a high-profile appearance in New Delhi to call out a growing corporate tactic: blaming artificial intelligence for job cuts that were already on the chopping block. Speaking at the India AI Impact Summit, he said some companies are engaging in “AI washing,” invoking the technology as cover for layoffs they would have…
FATE S.A., Argentina’s sole domestically owned tire manufacturer, announced a shutdown and dismissed all 920 of its workers, ending decades of national production in a single stroke. The Buenos Aires provincial government responded by ordering mandatory conciliation to freeze the mass layoffs, but the company’s stated reason, changes in market conditions, points to structural pressures…
True Value Company, the decades-old hardware cooperative that built its name supplying independent retailers competing against big-box chains like Home Depot and Lowe’s, is ceasing operations as a standalone business. The company announced a sale agreement with fellow cooperative Do It Best and simultaneously initiated Chapter 11 proceedings in the U.S. Bankruptcy Court for the…
UPS announced on January 27, 2026, that it will cut up to 30,000 jobs this year, adding to the roughly 34,000 operational positions it already eliminated during the first nine months of 2025. FedEx, meanwhile, has been consolidating facilities across approximately 290 locations in the U.S. and Canada under its own restructuring plan. Together, the…
The Los Angeles Unified School District, the largest public school system in California, has voted to send layoff notices to a significant number of employees as it grapples with budget pressures that have forced difficult choices at the board level. The decision lands at a moment when public education systems across the state are already…
Global Logistics and Fulfillment, LLC has filed a voluntary petition for Chapter 11 bankruptcy protection in Las Vegas, signaling serious financial distress at the logistics firm. The filing, docketed in the U.S. Bankruptcy Court for the District of Nevada, opens a restructuring process that will test whether the company can reorganize its obligations or faces…
Klarna’s chief executive has signaled that the Swedish fintech company intends to shrink from roughly 3,000 employees to fewer than 2,000 by the end of the decade, driven largely by artificial intelligence replacing human tasks. The target is not new in spirit, but the 2030 timeline and the scale of cuts already completed make it…
Harley-Davidson is preparing significant workforce reductions as part of a broad operational reset under CEO Artie Starrs, who took the helm just months ago amid falling sales, mounting losses, and activist pressure on the company’s board. The cuts come as the iconic motorcycle maker reported its core division slipped into the red for fiscal year…
The Trump administration’s Education Department has identified thousands of additional borrowers who may qualify for student loan discharge, according to a recent court filing in ongoing federal litigation. The updated eligibility figures, submitted as part of a sequence of status reports in the case brought by the American Federation of Teachers, suggest that years of…
A Houston-area employer has filed a Worker Adjustment and Retraining Notification (WARN) notice indicating more than 100 jobs may be cut at a Harris County worksite. The filing, logged through Texas’s official labor notification system, documents the planned reduction but leaves key questions unanswered about what drove the decision and what comes next for affected…