Rep. Ben Cline (R-Va.), a member of the House Appropriations Subcommittee that handles the budget for the U.S. Department of Justice, said Republicans are gathering in support to cut the department’s budget. Cline, who is a member of the staunchly conservative House Freedom Caucus, said members of the caucus are leaning on House Speaker Kevin…
House Appropriator Shares Growing GOP Support to Cut DOJ, FBI Budget Amid Political Woes
Lyft to ‘Significantly’ Cut Jobs in New CEO’s First Major Move
Lyft Inc. CEO David Risher said on Friday the ride-hailing company will “significantly” cut jobs in another round of layoffs to reduce costs, sending its shares up about 4 percent. The company declined to provide details on the number of affected staff, but the Wall Street Journal reported earlier in the day the move could…
Volkswagen’s Skoda Would Cut 3,000 Jobs If ‘Euro 7’ Implemented in Current Form
PRAGUE—Czech carmaker Skoda would have to cut 3,000 jobs and axe some models if the European Union’s “Euro 7” emissions scheme is implemented in its current form, a Skoda board member warned in a TV debate on Sunday. The proposed Euro 7 law, which EU countries and lawmakers will start negotiating this year, would tighten…
Airbnb Cuts Recruiting Staff by 30 Percent
Home rental firm Airbnb Inc. laid off 30 percent of its recruiting staff this week, a company spokesperson said on Friday, noting that it’s not an indication of more widespread layoffs. The decision, first reported by Bloomberg News, affected less than 0.4 percent of the San Francisco-based company’s total workforce of about 6,800, the spokesperson…
Software Consultancy Firm Thoughtworks Cuts About 500 Jobs
Software consultancy firm Thoughtworks Inc. said on Wednesday it laid off 4 percent of its global workforce, or roughly 500 employees, joining a host of U.S. companies looking to cut costs amid a sobering economic outlook. Tech firms have laid off thousands of workers recently as they brace for a period of lower demand, high…
Ticketing Service Provider Eventbrite to Lay Off 8 Percent Workforce
Eventbrite Inc. said on Tuesday it will eliminate about 8 percent of the company’s workforce, as the ticketing service provider looks to cut costs amid worries of an economic downturn. Shares of the company were up nearly 3 percent at $9 in extended trading. The company joins a growing list of firms in corporate America—from…
Alphabet’s Waymo Cuts 137 Jobs in Second Round of Layoffs This Year
Alphabet Inc.’s self-driving technology unit, Waymo, laid off 137 employees in its second round of layoffs in 2023, the firm told Reuters on Wednesday. Including the latest job cuts, the division has let go of 8 percent of its workforce, or 209 employees, this year. Investors and industry watchers have been concerned as to how…
Stellantis, Unions Agree 2,000 Voluntary Job Cuts in Italy This Year
MILAN—Stellantis and unions signed an agreement to cut up to 2,000 workers from the carmaker’s Italian operations this year through voluntary redundancies, workers’ representatives said on Monday. The redundancies amount to more than 4 percent of Stellantis’ current workforce in Italy of around 47,000 people, FIM, UILM, Fismic, Uglm, and Aqcfr unions said in a…
Russia Halts Pipeline Oil Supplies to Poland, PKN Orlen Says
February 25, 2023
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WARSAW—Russia has halted supplies of oil to Poland via the Druzhba pipeline, the chief executive of Polish refiner PKN Orlen said on Saturday, adding that the company would tap alternative sources to plug the gap. The halt in supplies via the pipeline—which has been exempted from EU sanctions imposed on Russia following its full-scale invasion…
Netflix Cuts Prices in Some Countries to Boost Subscriptions
Netflix Inc. said on Thursday it has cut prices of its subscription plans in some countries as the streaming giant looks to maintain subscriber growth amid stiff competition and strained consumer spending. The past year has seen intense competition in the streaming industry as a pandemic-driven boom fades and consumers curtail spending over fears of…
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