Paramount Global recently announced that it will be cutting 15% of its workforce in the U.S., amounting to approximately 2,000 jobs. This decision is part of a more extensive cost-cutting plan in anticipation of its upcoming merger with Skydance Media. The company has identified $500 million in cost savings, which includes the reduction in the
Business
Warner Bros. Discovery Chief Executive Officer David Zaslav is facing a tough time trying to convince shareholders that his company is a worthy investment. Since the merger of Discovery with WarnerMedia in 2022, the company’s shares have plummeted by about 70%. This plunge followed Zaslav’s immediate cost-cutting measures which included implementing thousands of layoffs, reducing
Stellantis, the automaker, has recently announced plans to indefinitely lay off up to 2,450 U.S. factory workers as it discontinues the production of an older version of its Ram 1500 pickup truck in Michigan. The Ram 1500, which has been a popular choice among entry-level buyers and fleet customers, is being replaced by a newer
Frustrated with the inconsistency in bounce and durability of pickleballs on the market, Life Time’s CEO Bahram Akradi took matters into his own hands. The upscale fitness and lifestyle company recently unveiled what they are calling “the ultimate pickleball,” set to debut exclusively at their clubs later this month. Akradi saw a problem within the
In a recent announcement, Delta Air Lines revealed that the CrowdStrike outage that occurred last month resulted in significant financial losses for the company. The airline indicated that the total cost of the outage and subsequent flight cancellations amounted to approximately $550 million. This included a $380 million revenue hit in the current quarter due
Jamie Dimon, CEO of JPMorgan Chase, recently stated that he believes the chances of a “soft landing” for the U.S. economy are relatively low, with a probability ranging from 35% to 40%. According to Dimon, a recession is the most likely scenario at this point in time. Despite some fluctuations in the markets, Dimon’s view
Disney’s media business has been a topic of concern and debate among investors for quite some time. The narrative surrounding the company has largely been centered on how streaming losses, declining traditional pay TV business, and box office failures have been overshadowing the success of the theme parks and resorts. This has resulted in a
Disney recently announced that it will be increasing the prices of its streaming services, Disney+, Hulu, and ESPN+. Starting in mid-October, most plans for these platforms will see a price increase of $1 to $2 per month. Additionally, the most expensive plans for Hulu, which include live TV, will see a significant increase of $6
Yum Brands recently reported a mixed quarter, with both Pizza Hut and KFC experiencing declining same-store sales. CEO David Gibbs attributed these declines to the impacts from the Middle East conflict, as well as a more cost-conscious consumer base. These factors have created headwinds for Yum Brands’ sales overall. Despite these challenges, sales trends have
Eli Lilly’s highly popular weight loss injection Zepbound and diabetes drug Mounjaro have faced shortages in the U.S. However, according to the U.S. Food and Drug Administration’s drug shortage database update, all doses of these treatments are now available. This comes as a relief after previous reports indicated that some doses were still in short