Starbucks to lay off 1,100 corporate workers as sales sag
Starbucks will lay off 1,100 corporate employees and will not fill several hundred other open positions, the coffee chain’s CEO Brian Niccol said Monday. The cuts will not affect workers at…
IMAX CEO expects $1.2 billion in box office receipts this year, the best in the company’s history
An “embarrassment of riches” at the box office could fuel a $1.2 billion year for IMAX, CEO Rich Gelfond told CNBC on Friday. That volume would mark the best box office…
Hasbro says it’s taking steps to offset China tariff effects
Toy and gaming giant Hasbro took an optimistic tone Thursday on the potential effect of Chinese tariffs on its business, as executives said the company is shifting manufacturing away from China. Hasbro…
Amazon surpasses Walmart in revenue for the first time
Amazon has dethroned Walmart in quarterly revenue for the first time ever. Amazon said earlier this month that it brought in $187.8 billion in revenue during the fourth quarter. That beat Walmart’s sales for the…
CEOs want workers back in offices—this company is giving workers a $10,000 raise to do it
Cameo wants workers back in the office more often, and it’s paying them each $10,000 to show up. Starting this week, workers at the celebrity video-greeting app are reporting into…
SEC dropping crypto lawsuit, Coinbase says
The largest U.S.-based cryptocurrency exchange said Friday that the Securities and Exchange Commission would drop its lawsuit against it, a signal that the Trump administration plans to take a friendlier…
Meta approves plan for bigger executive bonuses following 5% layoffs
Executives at Meta stand to get bigger bonuses this year. The company said in a corporate filing Thursday that it had approved “an increase in the target bonus percentage” for its annual bonus plan…
Airbus could prioritize deliveries to non-U.S. customers if Trump tariffs impede trade, CEO says
Airbus could prioritize deliveries to its non-U.S. customers if tariffs disrupt the European plane maker’s imports stateside, CEO Guillaume Faury said Thursday. “We have a large demand from the rest of…
ESPN plans to add user-generated content to upcoming ‘flagship’ streaming service
In an attempt to court younger audiences, Disney’s ESPN is planning to add some user-generated content to its yet-to-be-named flagship streaming service, which will debut later this year. While the details are…
Walmart is getting a bump from a surprising cohort: Wealthier shoppers
Walmart is known for its low prices and no frills approach. So it may come as a surprise that wealthier shoppers are helping to fuel the retailer’s growth. For more than…