Money, Wealth & Power—A Daily Look at the Financial World
In Golden, Colorado, the federal energy lab long known for pioneering wind and solar research has just cut 134 jobs, the second major round of layoffs in less than a year. The National Laboratory of the Rockies, formerly the National Renewable Energy Laboratory, is shedding staff at the very moment clean energy competition is intensifying…
Smithfield Foods is preparing to close a major dry sausage facility in Springfield, Massachusetts, a decision that will eliminate 190 jobs and shift production to other states. The move underscores how a highly consolidated meat industry is quietly redrawing its map of where food is made, concentrating processing in the Midwest while coastal communities absorb…
Across the country, small business owners are discovering that the promises of a boom under President Donald Trump have curdled into a grind of higher costs, unstable rules, and shrinking support. From tariffs that jack up input prices to cuts at the very agency meant to help entrepreneurs, the policy mix coming out of Washington…
Workday stunned investors and employees by announcing that chief executive Carl Eschenbach is out just days after the company cut 400 jobs in a sweeping restructuring. Co-founder Aneel Bhusri is stepping back into the top job, a rapid reversal that underscores how sharply the enterprise software maker is trying to reset after a bruising year…
Eddie Bauer is back in bankruptcy court and this time its store network is on the auction block. The operator of roughly 180 locations across the United States and Canada is moving quickly to liquidate inventory and solicit buyers, turning a once dominant outdoor name into the latest test of whether legacy retail brands can…
Across corporate America and the global tech sector, job cuts that began as a trickle have turned into a flood, and the fear inside workplaces is catching up with the numbers. From warehouse floors to newsrooms and software teams, workers are watching colleagues disappear from Slack and office seating charts while executives talk about “efficiency”…
One of Subway’s largest regional operators has sought shelter in Chapter 11, putting 43 restaurants and hundreds of jobs in limbo across the Northeast and Mid-Atlantic. Pennsylvania based MTF Enterprises, which runs those 43 Subway outlets in Pennsylvania, Maine, New Hampshire and Virginia, is trying to keep doors open while it restructures heavy debts tied…
The chill in the labor market is no longer a metaphor. U.S.-based employers announced 108,435 job cuts in January, the worst opening month for layoffs since the depths of the 2009 financial crisis, and more than double the 49,795 cuts a year earlier. At the same time, announced hiring plans sank to record lows, turning…
America’s once red-hot labor market is cooling fast. Job openings have fallen to 6.5 million, the lowest level since September 2020, while announced layoffs have surged to 108,400 in January, the highest start to a year since the aftermath of the financial crisis. Taken together, the data points to a decisive turn in the cycle,…
Gemini is pulling back from its global ambitions, cutting a quarter of its staff and shutting exchange operations across Europe and Australia as the Winklevoss twins pivot toward a leaner, U.S.-centric strategy. The move marks one of the clearest signs yet that a platform once pitched as a regulated, mainstream gateway to digital assets is…