FedEx, the renowned package delivery giant, encountered a substantial setback as its shares plummeted over 9% during after-hours trading on Tuesday. This downfall was triggered by the company’s decision to revise its revenue forecast downwards due to weakened demand, which directly impacted sales. Previously projecting flat sales for the fiscal year, FedEx now anticipates a
Business
In recent months, the Red Sea has become a hotspot for attacks by Iran-backed Houthi militants, posing a significant threat to global trade. These assaults on vessels have led to disruptions and potential price increases for shipments of goods and fuel. Major shipping lines and oil transporters have already suspended their services through the Red
In a major announcement, Citigroup has revealed that most of its employees will be able to work remotely for the final two weeks of December. This move comes as the bank aims to adapt to the changing landscape of work and provide more flexibility to its workforce. However, this development has been met with mixed
General Motors’ Cruise, the robotaxi startup, has announced that it will lay off 900 employees, accounting for 24% of its workforce. These layoffs primarily affect commercial operations and related corporate functions, marking the latest upheaval for the company. This decision comes just one day after Cruise dismissed nine “key leaders” due to their response to
Etsy, the popular e-commerce platform known for its marketplace of handmade items and connection to local artisans, is facing significant challenges. In an attempt to restructure the business and cut costs, the company announced on Wednesday that it will be laying off approximately 11% of its workforce, totaling around 225 employees. This decision comes at
Creators and enthusiasts of Netflix can now rejoice as the streaming giant has finally taken a leap towards transparency by releasing viewership statistics for almost all of its shows and movies. In its first-ever “What We Watched” report, Netflix ranks its content based on the number of hours viewed over the past six months. This
Ford Motor is making significant changes to its production plans for the all-electric F-150 Lightning pickup. The automaker, which had previously increased plant capacity for the electric vehicle, will now be cutting planned production in half next year. This decision represents a major reversal for Ford as it adapts to changing market demand. According to
McDonald’s, a fast-food giant, recently held its investor day where executives discussed the company’s strengths, long-term goals, and new targets. While McDonald’s has set ambitious plans for expansion, it faces several potential roadblocks as it looks towards 2024. This article will analyze the risks that McDonald’s faces and their potential impact on the company’s future.
It has been two years since the first unionization of company-owned Starbucks cafes in the U.S. The excitement and hope that accompanied this milestone have given way to a frustrating stalemate. Although over 360 locations have voted to unionize, representing about 4% of the company’s total U.S. footprint, no contracts have been reached with Starbucks.
Dollar General, a prominent discount retail chain, has been facing significant challenges in recent times. The company has been hit with steep fines for safety violations, faced negative media attention, and even experienced shareholder dissent. In order to address these issues, CEO Todd Vasos unveiled a comprehensive plan during an earnings call with investors. This