LONDON—Unilever, the company that makes Ben & Jerry’s ice cream, Dove soaps, and Vaseline, said Tuesday that it is cutting 7,500 jobs and spinning off its ice cream business to reduce costs and boost profits. London-based Unilever said its ice cream business, which also includes Magnum bars, has “distinct characteristics” from its other brands and […]
NEW YORK—Nike is cutting 2 percent of its global workforce, or little over 1,600 jobs, as the athletic wear giant aims to cut costs and reinvest its savings into what it sees as big growth areas like sport, health and wellness. Nike, based in Beaverton, Oregon, joins a growing number of companies including Estee Lauder […]
CHICAGO—A 29-year-old Chicago woman has pleaded guilty to first-degree murder after authorities said she helped her mother kill a pregnant teenager whose baby was cut from her womb. Desiree Figueroa’s plea was made Monday at the Leighton Criminal Court Building. It stipulates that she testify against her mother, Clarisa Figueroa, whose first-degree murder trial is […]
Taxpayers in New York City face sharp cuts to services—including education and policing—because the city has to find ways to fill a massive budget gap due to expenses from the illegal immigration crisis. New York City Mayor Eric Adams on Thursday released a financial plan update for the fiscal year 2024, including a cost-cutting scheme […]
SHEFFIELD, England—Police are investigating the death of American ice hockey player Adam Johnson after his neck was cut by a skate blade in an English game. Johnson was playing for the Nottingham Panthers at the Sheffield Steelers when he suffered the skate cut in a Champions Cup game on Saturday. He died in hospital. He […]
STOCKHOLM/HELSINKI—Nokia will cut up to 14,000 jobs to reduce costs, it said on Thursday, warning it did not expect a market recovery soon after posting a 20 percent drop in third-quarter sales on weaker demand for 5G equipment. A slowdown in the United States, home to Verizon and AT&T, and one of the more profitable […]
DEARBORN, Mich.—Ford Motor Co. is going through another round of white-collar job cuts as the company continues to reduce costs amid a transition to electric vehicles. The company confirmed Tuesday that it was starting to notify several hundred engineers and other salaried employees that their jobs are being eliminated. The firings come after around 200 […]
LONDON—BT Group, Britain’s biggest broadband and mobile provider, will cut up to 55,000 jobs including contractors by 2030—potentially over 40 percent of its workforce—as it completes its fiber roll-out and adapts to new technologies such as AI. The company has been working through a transformation plan to build a national fiber network under boss Philip […]
DETROIT—Tesla says it will cut the cost of its next generation of vehicles in half, largely by using innovative manufacturing techniques and smaller factories. CEO Elon Musk and other executives outlined the goals during a 3.5-hour investor day presentation at Tesla’s Austin, Texas, headquarters Wednesday as they presented the company’s third master plan. The changes […]
The popular video conferencing service, Zoom, is the latest to join the growing list of companies in layoffs. San Jose-based Zoom said on Feb. 7 it would cut about 1,300 jobs or about 15 percent of its workforce, as demand for the company’s video conferencing services slows amid the waning pandemic.
Residents of the Rio Verde Foothills in Arizona have been frantically hoarding water since the start of the year after nearby Scottsdale cut off their water supply, citing an extreme drought. In an announcement at the end of last year, the Scottsdale Office of Communication said that residents of Maricopa County had been warned multiple times that the water supply was […]
Big Tech firms are leading a string of layoffs across corporate America as companies look to rein in costs to ride out the economic downturn. Persisting inflation leading to interest rate hikes, weak consumer demand, and an economic slowdown in China have forced firms from Amazon to Walt Disney and banks to trim their workforce. […]
DoorDash is eliminating about 1,250 corporate jobs, or about 6 percent of its workforce, saying it hired too many people when delivery demand surged during the COVID-19 pandemic. CEO Tony Xu said in a message to employees Wednesday that DoorDash was undersized before the pandemic and sped up hiring to catch up with its growth. […]
LONDON—Britain’s new finance minister Jeremy Hunt scrapped Prime Minister Liz Truss’s economic plan and scaled back her vast energy support scheme on Monday, making a historic policy U-turn to try to stem a dramatic loss of investor confidence. Truss’s spokesman denied that Hunt was running the country after his new strategy sent the pound soaring […]
OPEC+ member states lined up on Sunday to endorse a steep production cut agreed upon earlier this month following accusations from top Biden administration officials against the Saudi government. Iraq, the second largest producer in OPEC, said the move was based on economic indicators and done unanimously. “There is complete consensus among OPEC+ countries that […]
OPEC+ decided to cut oil production by 2 million barrels a day to boost oil prices despite pressure from the Biden administration to pump more. NTD spoke to energy expert Tom McNulty for his insights.
Reuters has cut ties with a Russian agency, the news agency said Wednesday. Reuters began listing TASS, a state-backed Russian outlet, on its content marketplace in 2020. That partnership has been revoked, a spokesperson told The Epoch Times via email. “We have decided to remove all TASS content from the business-to-business marketplace on our Reuters […]
The leader of the Texas House of Representatives on Tuesday signaled he would not support requiring the state’s grid operator to cut billions of dollars from electricity pricing during a cold snap that upended the state’s power market. On Monday, the state Senate approved a proposal to order the state Public Utility Commission (PUC) to […]
