Starbucks Slashes Jobs and Menu in Major Corporate Overhaul
Starbucks announces plans to cut over 1,000 corporate jobs and simplify its menu by 30% amid declining sales and operational challenges. Under new CEO Brian Niccol, the coffee giant aims to revitalize its brand identity and improve customer experience through streamlined operations.
Meta Raises Executive Bonuses to 200% While Laying Off Thousands
Meta approves substantial executive bonus increases up to 200% of base salaries, just one week after laying off 3,600 employees. The company defends the move as bringing compensation in line with industry peers, while reporting strong Q4 revenue growth of 21% to $48.4 billion.
CDC Cuts 1,300 Jobs in Major Workforce Reduction Amid Federal Restructuring
The Centers for Disease Control and Prevention (CDC) has initiated a significant downsizing, eliminating 10% of its workforce including probationary employees and disease detection specialists. The cuts, part of a broader federal restructuring effort, have raised concerns about the nation's public health capabilities.
Meta's Performance Rating Controversy: High Achievers Caught in Latest Layoff Wave
Meta's recent layoffs of 4,000 employees have sparked controversy as high-performing staff with positive reviews were unexpectedly terminated. The cuts, initially targeting low performers, expanded to include employees with strong track records, raising questions about the company's workforce reduction strategy.
Big Lots Closure: Retail Giant Shutters All Stores, Cuts 500+ Corporate Jobs
Big Lots announced the closure of all 963 stores nationwide and the layoff of its corporate workforce following a failed buyout attempt. The dramatic end comes after the retailer's Chapter 11 bankruptcy filing, affecting over 27,000 employees across 48 states.
Big Lots Accelerates Store Closures with 19 Additional Locations
Discount retailer Big Lots announces plans to shutter 19 more stores across multiple states as part of its strategic restructuring efforts. The company aims to optimize its network of 1,300 stores while investing in e-commerce and supporting affected employees through the transition.
Better Collective Cuts 100 Jobs Amid US and Brazil Market Challenges
Danish sports media group Better Collective announces significant workforce reduction affecting approximately 100 employees due to market shifts in the US and regulatory changes in Brazil. The company has also revised its 2024 revenue forecast downward by 10% following its recent $190 million acquisition of Playmaker Capital.
CVS Health to Cut 2,900 Jobs Amid Cost-Saving and Restructuring Efforts
CVS Health announces plans to lay off 1% of its workforce as part of a broader cost-cutting initiative. The company is also considering separating its retail pharmacy and insurance units, signaling potential major changes in its business structure.