Walmart Lays Off Hundreds of Corporate Workers

Walmart is cutting hundreds of corporate roles in a restructuring effort, according to people familiar with the matter, a week after the retail giant warned of falling profits. The retailer began notifying employees in its Bentonville, Ark., headquarters and other corporate offices of the restructuring, which affects various departments including merchandising, global technology and real-estate … Read more

Robinhood Lays Off 23% of Staff as Retail Investors Fade from Platform

Updated Aug. 2, 2022 6:21 pm ET List two articles (2 minutes) Robinhood Markets is slashing about 23% of its full-time staff as the flashy online brokerage continues to reel from a sharp slowdown in customer trading activity. The job cuts mark the second round of layoffs this year at Robinhood, which in April reduced … Read more

Shopify to Lay Off 10% of Workers in Broad Shake-Up

Shopify is cutting roughly 1,000 workers, or 10% of its global workforce, rolling back a bet on e-commerce growth the technology company made during the pandemic, according to an internal memo. Tobi Lütke, the company’s founder and chief executive, told staff in a memo late Tuesday that the layoffs are necessary as consumers resume old … Read more

It’s the end of ‘fantasyland’ for Big Tech and its workers

After Big Tech grew in unprecedented and unchecked fashion for a decade, building ostentatious palaces to house growing workforces while plying them luxuriant freebies to keep them from defecting to rivals, is the wild ride over? Tech’s largest companies, as well as their smaller competitors, are looking to cut back as they face a litany … Read more

Ford Plans to Cut Several Thousand Salaried Jobs

Ford Motor Co. is planning to cut several thousand white-collar workers as it looks to trim costs to position the company for a long-range transition to electric vehicles, according to people familiar with the matter. The auto maker in coming weeks is expected to disclose plans to eliminate more than 4,000 jobs, the people said. … Read more

Lift Lays Off About 60 Employees, Folds Its Car Rentals For Riders

Lift Inc. has shed about 60 people while hitting the brakes on renting its cars to riders and consolidating its global operations team, according to people familiar with the matter and an employee memo reviewed by The Wall Street Journal. The cuts covered less than 2% of staff and mainly affected employees who worked in … Read more

Five Signs Workers Still Have Power in This Job Market

Rarely has such a robust labor market been so thoroughly scoured for signs of impending doom. Does this mean you should lower your salary expectations the next time you are up for a promotion or a new job? Or settle for a job with more security as a recession looms? Not necessarily. Now is still … Read more

Five Signs Workers Still Have The Power In This Job Market

Rarely has such a robust labor market been so thoroughly scoured for signs of impending doom. Does this mean you should lower your salary expectations the next time you are up for a promotion or a new job? Or settle for a job with more security as a recession looms? Not necessarily. Now is still … Read more

Twitter Didn’t Seek a Sale. Now Elon Musk Doesn’t Want to Buy. Cue Strange Legal Drama.

Elon Musk’s showdown with Twitter has set the stage for what could become one of the most unusual courtroom battles in corporate-takeover history — a spurned acquisition target that never sought to be bought potentially trying to force the buyer who soured on the deal to see it through. In just over three months, Mr. … Read more

US creates 372,000 jobs in June with strong labor market seen as bulwark against recession

The numbers: The US created a robust 372,000 new jobs in June, confounding predictions of a big slowdown in hiring and signaling the economy has some zip left despite growing talk of recession. Economists polled by The Wall Street Journal had forecast 250,000 new jobs. The unemployment rate was unchanged at 3.6%, the government said … Read more