Southwest Airlines is making some big changes. They're planning to cut about 1, 750 corporate jobs, which is around 15% of their total corporate workforce. This move is part of a larger plan to make the company more efficient and save money. The company expects to save a significant amount of money this year and even more in 2026. Most of these job cuts will happen b...
Chicago's Mayor Brandon Johnson is presenting a new budget plan just weeks before a potential government shutdown. This plan aims to end the city's budget stalemate by dropping a proposed $68. 5 million property tax increase and cutting 10 jobs from his office. The mayor's office has grown larger under Johnson and his predecessor, Lori Lightfoot. The plan also includ...
In a significant move, Cargill, the globe's top agricultural commodities trader, has announced a 5% cut in its workforce. This decision comes after the company faced falling revenues due to declining crop prices. The Minnesota-based company has been working to enhance its competitiveness and adapt to market changes under CEO Brian Sikes, who took over earlier this ye...
Advance Auto Parts, a big name in the auto parts business, is locking up the doors of more than 700 stores. This decision follows a string of bad earnings reports. Both company-owned and independent stores will shut down across the US. No word yet on exactly where in St. Louis these closures will happen. Job cuts are also on the table, but the specific numbers are st...
Auto parts retailer Advance Auto Parts has announced a significant restructuring plan. By mid-2025, the company aims to close around 500 stores and reduce some jobs. This move comes as demand for vehicle parts has decreased, with fewer people choosing to repair their cars. The automotive industry has faced challenges recently, with inflation and strong competition f...
Airbus is mulling over a potential merger for its space business, but it's not a done deal just yet. The company's CEO, Guillaume Faury, suggested that they're open to partnering up with another firm to strengthen their space sector. This comes after Airbus took a big hit with their satellite business, losing around $980 million in the first half of the year. They've...
Spirit Airlines’ stock prices have skyrocketed by over 15% following the announcement of significant cost-cutting measures. These measures include the sale of 23 older Airbus aircraft, expected to generate a whopping $519 million. Additionally, the budget airline plans to slash jobs to save around $80 million in expenses. This move comes as the airline continues...
Airbus, a major player in the aerospace industry, has recently announced plans to cut up to 2,500 jobs in its Defense and Space division. This decision comes in response to a tough business environment, particularly in the satellite sector where they've faced significant losses. The European company aims to complete these cuts, which represent 7% of the division's wo...
Waking up to a bullish crypto market, stocks linked to digital currencies took off. Bitcoin hit a high of over $64,000, sparking a rise in companies like MicroStrategy and Mara Holdings, with each jumping over 5%. Coinbase wasn't left behind, climbing over 3%. Meanwhile, Flutter Entertainment, the parent company of FanDuel, got a boost from Wells Fargo. The investmen...
You might have heard that Boeing is cutting 17,000 jobs. That's about 10% of their workforce. Why are they doing this? Well, they're losing a lot of money, and a five-week-long strike at their factories isn't helping. Boeing says they'll lose $9.97 per share in the third quarter alone. That's a lot of money! The strike started in September when workers didn't agree ...