Rivian cuts 1% of workforce in second round of layoffs this year
By Abhirup Roy and Akash Sriram SAN FRANCISCO (Reuters) -Electric vehicle maker Rivian said on Wednesday it cut about 1% of its workforce – the second round of job cuts…
US creditors push back against some creative funding trades, Moody’s says
By Shankar Ramakrishnan (Reuters) – Lenders are starting to ask for extra protection in junk-rated corporate loans to damp down on a growing practice among some stressed companies to engage…
Factbox-How Elon Musk’s pay package compares to other top CEOs in United States
(Reuters) -Tesla’s attempt to seek a shareholder re-vote on CEO Elon Musk’s record-breaking pay that was voided by a Delaware judge in January has once again put the spotlight on…
Google consolidates its DeepMind and Research teams amid AI push
(Reuters) – Alphabet-owned Google said on Thursday it would consolidate teams that focus on building artificial intelligence models across its Research and DeepMind divisions in its latest push to develop…
Tesla layoffs include 14% of Buffalo workers, WARN notice shows
(Reuters) -Tesla will lay off 285 employees in Buffalo, New York, as part of its plans to trim 10% of its global workforce, the electric-vehicle maker said in a legally…
Amazon to push cashierless shopping tech into more third-party stores, while backing off itself
By Greg Bensinger (Reuters) – Amazon.com said on Wednesday it plans to push its cashierless shopping technology into more third-party stores this year, even as it reduces its reliance on…
Google lays off employees, shifts some roles abroad amid cost cuts
(Reuters) – Alphabet-owned Google is laying off an unspecified number of employees, a company spokesperson said on Wednesday, marking the latest cuts at the technology giant as it cracks down…
Trump Media shares tank after filing shows more stock may be sold
By Echo Wang (Reuters) -Shares of Donald Trump’s social media company slumped 18% on Monday, extending losses since the stock’s debut last month, after the company said it could sell…
AMD introduces AI chips for business laptops and desktops
(Reuters) -Advanced Micro Devices unveiled a new series of semiconductors for artificial intelligence-enabled business laptops and desktops on Tuesday as the chip designer looks to expand its share of the…
Adidas raises 2024 outlook after strong first quarter
By Ludwig Burger FRANKFURT (Reuters) -Adidas on Tuesday raised its 2024 profit outlook after what the German sportswear giant said was a better than expected first quarter. In an unscheduled…