Paramount Global recently announced a significant cost-cutting measure, with a plan to cut 15% of its U.S. workforce, affecting around 2,000 jobs. This move is part of a broader strategy as the company prepares for a merger with Skydance Media. Paramount aims to achieve $500 million in cost savings as part of $2 billion in
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Automaker Stellantis recently announced plans to indefinitely lay off up to 2,450 U.S. factory workers due to the discontinuation of an older version of its Ram 1500 pickup truck in Michigan. The Ram 1500 Classic has been a staple for entry-level buyers and fleet customers, but its production will be coming to an end later
Frustrated with the inconsistencies in bounce and durability of pickleballs on the market, Life Time’s founder and CEO Bahram Akradi decided to create a solution. This decision led to the development of what is being hailed as “the ultimate pickleball” by the upscale fitness and lifestyle company. This move showcases Akradi’s dedication to improving the
Delta Air Lines recently revealed that the CrowdStrike outage and subsequent mass flight cancellations in the previous month had a staggering financial impact amounting to $550 million. This includes a $380 million revenue hit primarily due to refunding customers for cancelled flights and providing compensation in cash and SkyMiles. Additionally, there was a $170 million
JPMorgan Chase CEO Jamie Dimon recently expressed his belief that the chances of a “soft landing” for the U.S. economy are relatively low, ranging from 35% to 40%. According to Dimon, the most likely scenario in his view is a recession. Despite being asked if his stance had changed since February on the optimism of
In a surprising twist, Disney’s media business is no longer dragging the company down. For years, investors have been concerned about the impact of streaming losses, a declining traditional pay TV business, and lackluster box office performances on Disney’s overall financial health. This has resulted in Disney’s stock falling by 24% in the past two
Disney recently announced that starting mid-October, the prices for most plans on Disney+, Hulu, and ESPN+ will see an increase of $1 to $2 per month. The most significant price increase comes for the Hulu plans that include live TV, which will see a $6 bump in monthly fees. Disney+ basic and premium plans will
Yum Brands recently reported a mixed quarter, with both Pizza Hut and KFC experiencing declining same-store sales. The CEO, David Gibbs, cited the impacts of the Middle East conflict and a more cost-conscious consumer as factors contributing to these challenges. Despite these headwinds, sales trends in the U.S. have shown improvement compared to the previous
Eli Lilly’s highly popular weight loss injection Zepbound and diabetes drug Mounjaro are now fully available in the U.S., as per the recent update on the U.S. Food and Drug Administration’s drug shortage database. The previous update indicated that certain doses of these treatments were facing shortages. The scarcity of Mounjaro dates back to as
In a recent turn of events, Delta Air Line CEO Ed Bastian found himself in a tough situation, having to deal with the aftermath of a botched CrowdStrike software update that wreaked havoc for the airline. Thousands of customers and crew members were left stranded due to the disruptions caused by the faulty update. Delta