Nike stock plunges and takes rivals like Under Armour and Adidas with it

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Pink Nike shoes
What happens at Nike reverberates across the industry.

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A Pizza Hut franchise is laying off 366 delivery drivers as restaurants brace for California's new $20 per-hour fast-food wage

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Pizza Hut
A Pizza Hut franchisee plans to lay off all of its in-house delivery drivers at more than 70 stores in California.

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Plot twist: Consulting firm Deloitte is reportedly using AI to prevent layoffs

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Deloitte office worker
Deloitte is leveraging AI to shuffle existing employees into more promising departments.

Photo by Daniel LEAL / AFP) (Photo by DANIEL LEAL/AFP via Getty Images

Etsy is laying off 225 of its workers after 2 years of 'essentially flat' merchandise sales

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Etsy mobile app.
Etsy CEO Josh Silverman told employees in an email that the company's gross merchandising sales have "remained essentially flat since 2021."

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The full list of major US companies slashing staff this year, from Hasbro to Amazon

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Hasbro toy display
Hasbro is cutting around 20% of its workforce, its CEO announced. The company is facing continued slow sales even into the toy-heavy holiday season, he said.

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Days after laying off 17% of its staff, Spotify says its CFO is on his way out too

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Spotify CEO Daniel Ek.
Spotify CEO Daniel Ek.

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Spotify's former podcast boss calls out the company for setting 'money on fire' with costly celeb deals

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Person over a green backdrop holding a phone with the spotify logo on it.
Spotify recently announced it's laying off 17% of its staff and confirmed it's canceling two popular podcasts, Heavyweight and Stolen.

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Spotify ditches popular podcasts 'Heavyweight' and 'Stolen' as CEO doubles down on cost-cutting

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Daniel Ek, the CEO of Spotify, wears a navy t-shirt with a guitar on it while standing on a stage with the green Spotify logo on a black background.
Spotify CEO Daniel Ek.

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Spotify is being hammered for wrapping 2023 with big layoffs just before Christmas

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Spotify Wrapped 2023 graphic
Spotify recently sent this year's Wrapped to users.

Spotify

Read the full memo Spotify's CEO sent employees announcing it would cut 17% of its staff: 'Being lean is not just an option but a necessity'

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Photo of Spotify CEO Daniel EK with its logo behind him
Spotify CEO Daniel Ek said industry pushback on AI is on important issues including copyright

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