Good and Bad News Monday

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According to Market Insider, Estee Lauder announced in conjunction with its quarterly results that it would be laying off between 3% and 5% of its staff in order to reduce its expenses. Questions: Source: Ramer, L. (2024). Estee Lauder Layoffs 2024: What to Know About the Latest EL Job Cut. Market Insider, Feb. 5 (Retrievable… Read more »

This Year’s Large-Scale Layoffs and Their Companies

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According to the Washington Post, some of the deepest cuts have occurred in the tech and media sectors such as Microsoft, Amazon, Salesforce, HP, and the parent companies of Google and Facebook. Questions: Source: Mark, J., H. Shaban, A. Gregg, and J. Bogage. (2023). These are some of the notable companies laying off workers. The… Read more »

Catastrophic Panic

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According to the Washington Post, small businesses are beginning to brace for a worst-case scenario of delayed payments, stalled projects and layoffs if the nation defaults on its debt. Questions: Source: Bhattarai, A. (2023). Small businesses are beginning to panic about a government default. The Washington Post, May 21 (Retrievable online at https://www.washingtonpost.com/business/2023/05/20/debt-ceiling-small-business/)

Virgin Orbit Files for Bankruptcy

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According to the New York Times, the satellite launch company, founded by Richard Branson, announced sweeping cuts last week as it struggled to recover from a high-profile rocket failure in January. Questions: Source: Granville, K. (2023) Virgin Orbit Files for Bankruptcy After Failed Launch and Lack of Funding. The New York Times, April 4 (Retrievable… Read more »

CEO with the “Crass”mas Spirit

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Last Wednesday, the CEO of Better.com, Vishal Garg, fired 900 employees during a 3-minute holiday Zoom presentation. Questions: Where did CEO Garg “bad-mouth” the laid off employees, accusing them of stealing time from the company? What percent of Better.com’s workforce is this? What industry is Better.com in? Explain all the factors that are wrong with… Read more »

Sad Times at Landmark Hotels

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This time of year is usually when America’s luxury hotels are starting to prepare for busy holiday parties and New Year’s Eve festivities. Unfortunately, most of these luxury hotels have lost well over half their business and told most of their staff that they are not needed. Questions: According to the article, the hotel industry… Read more »

Does This Situation Seem to be Ethically Correct During a Pandemic?

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  HCA Healthcare, one of the world’s wealthiest hospital chains, earning more than $7 billion in the past two years and worth $36 billion, paid its chief executive $26 million in 2019. However, as the pandemic spread across America, HCA did not provide adequate protective gear to medical staff, froze wages for nurses, and has… Read more »

The $3 idea goes away

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The San Francisco-based company that sold most private-label essentials without branding is closing. Questions: Why did they decide to close? Based on the article, how many people were employed at Brandless? How much did SoftBank invest in this company’s concept? When did Brandless start selling its products in major retailers’ physical stores instead of online-only?… Read more »

HALTED!

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According to the Washington Post, Boeing will halt production of its new 737 MAX commercial jetliner in January 2020. Questions: How long will the production halt last? How many employees will be laid off? How much is it estimated that the entire U.S. gross domestic product for a period this year has been impacted by… Read more »

Restructuring at Deutsche Bank

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Germany’s largest bank, Deutsche Bank, has begun a string of layoffs that will result in 20 percent fewer employees or 18,000 jobs. Questions: This slashing in jobs happened on the first day takeover of the new CEO. Who is the CEO? What happened to shares of Deutsche Bank after word of this sweeping overhaul? How… Read more »