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Tag: Cuts

Adidas warns of first annual loss in three decades and cuts dividend after Ye split

Adidas warns of first annual loss in three decades and cuts dividend after Ye split

“The numbers speak for themselves. We are currently not performing the way we should”, Adidas CEO Bjørn Gulden said in a press release. Jeremy Moeller / Contributor / Getty Images Adidas on Wednesday reported a big fourth-quarter loss and slashed its dividend after the costly termination …
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Company cuts 19% of workforce; shares tank on earnings miss

Company cuts 19% of workforce; shares tank on earnings miss

Affirm announced it’s cutting 19% of its workforce Wednesday. The news came as it reported second quarter earnings that fell below analyst estimates on both the top and bottom lines. Shares were down more than 17% after hours. related investing news Read moreHome Depot (HD) Q4 …
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Intel Slashes CEO Pay by 25% as Part of Companywide Cuts

Intel Slashes CEO Pay by 25% as Part of Companywide Cuts

(Bloomberg) — Intel Corp., struggling with a rapid drop in revenue and earnings, is cutting management pay across the company to cope with a shaky economy and preserve cash for an ambitious turnaround plan. Most Read from Bloomberg Chief Executive Officer Pat Gelsinger is taking a …
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Google’s Pichai Tells Staff Cuts Avoided ‘Much Worse’ Issues

Google’s Pichai Tells Staff Cuts Avoided ‘Much Worse’ Issues

(Bloomberg) — Google’s chief executive officer told employees on Monday that job cuts were made in a bid to act decisively as the company’s growth slowed. Most Read from Bloomberg In an internal meeting, Sundar Pichai, who is CEO of Google parent Alphabet Inc., said he …
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Intel Plans Thousands of Job Cuts in Face of PC Slowdown

Intel Plans Thousands of Job Cuts in Face of PC Slowdown

(Bloomberg) — Intel Corp. is planning a major reduction in headcount, likely numbering in the thousands, to cut costs and cope with a sputtering personal-computer market, according to people with knowledge of the situation. Most Read from Bloomberg The layoffs will be announced as early as …
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Novavax cuts revenue guidance in half, stock tanks in extended trading

Novavax cuts revenue guidance in half, stock tanks in extended trading

In this photo illustration a silhouette of a man holding a medical syringe and a vial seen displayed in front of the Novavax logo on a screen. Cezary Kowalski | Lightrocket | Getty Images Novavax deeply cut its full-year revenue guidance Monday, with no new Covid-19 …
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Workhorse Stock Sinks After Company Cuts Its Sales Outlook

Workhorse Stock Sinks After Company Cuts Its Sales Outlook

Workhorse Group stock tumbled on Tuesday after the electric-van manufacturer said it expects to sell fewer vehicles than previously expected and cut its revenue guidance for the full year. Workhorse Read moreBitcoin Drops Amid Weibo Crypto Suspensions, Goldman CIO Survey (ticker: WKHS) said in its second-quarter …
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Goldman Sachs cuts earnings outlook for MSCI China to zero growth

Goldman Sachs cuts earnings outlook for MSCI China to zero growth

In China, people typically buy apartments before they are completed. Pictured here on June 28, 2022, are unfinished residences in Nanning, Guangxi Zhuang Autonomous Region. Future Publishing | Future Publishing | Getty Images BEIJING — Goldman Sachs has cut its forecast for the MSCI China index …
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Verizon shares fall after company cuts full-year forecast

Verizon shares fall after company cuts full-year forecast

A Verizon store in San Francisco, California, U.S., on Tuesday, July 20, 2021. Bloomberg | Getty Images Shares of Verizon fell Friday after the company reported second-quarter earnings that fell shy of expectations and trimmed its financial forecast for the year. “Although recent performance did not …
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ADB cuts China’s growth forecast on concerns over Covid lockdowns

ADB cuts China’s growth forecast on concerns over Covid lockdowns

The Asian Development Bank has cut its growth forecast for China due to concerns over the country’s zero-Covid approach and strict lockdowns, which put even more pressure on the real estate sector. Gross domestic product growth for the world’s second largest economy is expected to be …
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