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☆ Vittorio Emanuele of Savoy, son of Italy's last king, dies aged 86
▼ + stars: | 2024-02-03 | by ( ) www.cnbc.com time to read: +3 min

Vittorio Emanuele of Savoy, the only son of Italy's last king, who lived in exile in neighbouring Switzerland for most of his life, has died aged 86 at his home in Geneva, a note by the Royal House of Savoy said. Vittorio Emanuele was eventually acquitted of the killing in a French court in 1991 and given a suspended sentence for illegal possession of a rifle. Vittorio Emanuele disputed the authenticity of the video. His grandfather, King Victor Emanuel III, abdicated in favour of his son Umberto just before the 1946 referendum in a final, futile attempt to save the monarchy. Vittorio Emanuele is survived by his wife and his son, Emanuele Filiberto, who said in 2023 that he would renounce his claim to the Italian throne in favour of his daughter, Vittoria, when he felt she was ready for the challenge.

Persons: Vittorio Emanuele of Savoy, Italy's, of Savoy, Umberto II, King of Italy, Vittorio Emanuele, Pope John Paul, Benito Mussolini, Dirk Hamer, Hamer, Vittorio Emanuele's, Shah, Marina Doria, King Victor Emanuel III, Umberto, Maria Jose, Emanuele Filiberto, Vittoria Organizations: Royal, Fascist, Netflix, Italian Agusta Locations: Switzerland, Geneva, Italian, Naples, Rome, Corsican, Potenza, Swiss, Lake Geneva, Iran, Tehran, Italy

☆ Vittorio Emanuele of Savoy, Son of Italy's Last King, Dies Aged 86
▼ + stars: | 2024-02-03 | by ( Feb. | At A.M. | ) www.usnews.com time to read: +3 min

ROME (Reuters) - Vittorio Emanuele of Savoy, the only son of Italy's last king, who lived in exile in neighbouring Switzerland for most of his life, has died aged 86 at his home in Geneva, a note by the Royal House of Savoy said. Vittorio Emanuele was eventually acquitted of the killing in a French court in 1991 and given a suspended sentence for illegal possession of a rifle. Vittorio Emanuele disputed the authenticity of the video. His grandfather, King Victor Emanuel III, abdicated in favour of his son Umberto just before the 1946 referendum in a final, futile attempt to save the monarchy. Vittorio Emanuele is survived by his wife and his son, Emanuele Filiberto, who said in 2023 that he would renounce his claim to the Italian throne in favour of his daughter, Vittoria, when he felt she was ready for the challenge.

Persons: Vittorio Emanuele of Savoy, Italy's, of Savoy, Umberto II, King of Italy, Vittorio Emanuele, Pope John Paul, Benito Mussolini, Dirk Hamer, Hamer, Vittorio Emanuele's, OF, Marina Doria, Shah, King Victor Emanuel III, Umberto, Maria Jose, Emanuele Filiberto, Vittoria, Keith Weir, Toby Chopra Organizations: Royal, Fascist, Netflix, Italian Agusta Locations: ROME, Switzerland, Geneva, Italian, Naples, Rome, Corsican, Potenza, Swiss, Lake Geneva, Iran, Tehran, Italy

☆ What Walmart’s new focus on employee stock could mean for the wealth of the average American household
▼ + stars: | 2024-02-03 | by ( Cheryl Winokur Munk | ) www.cnbc.com time to read: +9 min

Walmart is offering its store managers stock grants, which based on a manager's store format, can range between $10,000 and $20,000. It's not only managers that Walmart wants to encourage to buy into stock ownership. 1 employer, Walmart's decisions are likely to have significant ripple effects and could even lead to broader equity ownership among rank-and-file employees. Already companies such as Ingersoll Rand and Harley-Davidson have taken steps to broaden stock ownership to employees. "Stock ownership is a pillar of worker financial wellness."

Persons: John David Rainey, Chris Taylor, It's, John Furner, Doug McMillon, Biden, Marc Roloson, Aalap Shah, Pearl Meyer, Shah, Brian J, Albert H, Gordon, Stacey Kole, Ed Rataj, Michael Kestenbaum, Gallagher, Peter Follows, Kole, Ingersoll Rand, Davidson, Martin Whitman, Whitman, Pete Stavros's, Walmart's, Harvard's, WTW's Roloson Organizations: New York Stock Exchange, Walmart, International, NYSE, LinkedIn, Companies, Business Administration, Harvard Business School, The University of Chicago Booth School of Business, CBIZ, Carpedia, Harley, Just Locations: U.S

☆ Malaysia halves jail sentence of ex-prime minister Najib
▼ + stars: | 2024-02-02 | by ( ) www.cnbc.com time to read: +3 min

Najib Razak, Malaysia's former prime minister, gestures as he leaves the Kuala Lumpur Courts Complex in Malaysia, on Thursday, Sept. 20, 2018. The board, chaired by Malaysia's king, did not give a reason for halving Najib's sentence. It said if Najib failed to pay the fine given, an additional year would be imposed on his jail term. Malaysia's king plays a largely ceremonial role but can pardon convicted people among discretionary powers granted by the federal constitution. The pardons board, which advises the king, includes the attorney-general and government officials.

Persons: Najib Razak, Anwar Ibrahim's, Anwar, Najib, Malaysia's, Jho Low, Al, Sultan Abdullah Ahmad Shah, Sultan Abdullah, Sultan Ibrahim Sultan Iskandar Organizations: United National Malays Organisation, 1Malaysia Development, Saudi Locations: Kuala Lumpur, Malaysia, Johor .

☆ Apple's sales plunged in China — these are the iPhone giant's 5 biggest problems right now
▼ + stars: | 2024-02-02 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +4 min

Andrew Caballero-Reynolds | AFP | Getty ImagesApple is facing renewed challenges in China, one of its most critical markets. The iPhone giant's sales in the greater China region in the December quarter fell nearly 13% to $20.8 billion. "This increased competition exerts pressure on both Apple's older models and the base models of its new series." For a long time, Apple has been seen as a luxury brand in China with high appeal among younger audiences. GeopoliticsAnd like many foreign technology firms operating in China, the specter of geopolitics constantly hangs over.

Persons: Tim Cook, Andrew Caballero, Reynolds, Will Wong, Shah, Josh Koren, CNBC's, Gen, Koren, Apple Organizations: Economic Cooperation, APEC, Apple, AFP, Getty, Huawei, IDC, CNBC, Musketeer Capital Partners, Samsung, Bloomberg Locations: Asia, San Francisco, China, Cupertino , California, 4Q23, Xiaomi

☆ Malaysia's new king has a $5.7B family fortune. Here's how he spends his money.
▼ + stars: | 2024-02-02 | by ( Mikhaila Friel | ) www.businessinsider.com time to read: +6 min

Sultan Ibrahim Iskandar, 65, was declared king on Wednesday as part of the country's rotating monarchy. King Sultan Ibrahim Iskandar of Johor is photographed with his sister, Queen Tunku Azizah Aminah Maimunah Iskandariah, after his accession was announced in October 2023. MOHD RASFAN/AP ImagesSultan Ibrahim is head of the Johor royal family and is considered one of the country's wealthiest men. In May 2023, a video posted to the Johor royal family's TikTok account showed them dining at Istanbul Turkish Cuisine, a reservations-only restaurant in Horizon Hills, Johor. King of Malaysia Sultan Ibrahim Iskandar (right) speaks with Malaysia's Prime Minister Anwar Ibrahim (left) after the oath-taking ceremony.

Persons: Sultan Ibrahim Iskandar, King Sultan Ibrahim Iskandar, Tunku Azizah Aminah, Iskandariah, MOHD RASFAN, Sultan Ibrahim, Sultan Ibrahim isn't, Ferrari Testarossa, HASNOOR HUSSAIN, Adolf Hitler, Hitler, Harley, Davidson, Tunku Ismail, Crown, Prince, of, of Malaysia Sultan Ibrahim Iskandar, Anwar Ibrahim, Abdullah Ahmad Shah, Mahathir Mohamad Organizations: Bloomberg, Facebook, Getty, Mercedes, YouTube, Boeing, Guardian, U Mobile, Maharani Energy, Johor Darul, The Straits Times, Malaysian, Malaysia's Locations: Malaysia, Malaysia's, Johor, Malaysian, Kuala Lumpur, India, Istanbul Turkish, Horizon Hills, Johor Darul Ta'zim, Singapore, Forest, Manhattan, of Malaysia Sultan

☆ A couple converted a $10,000 school bus into their dream home. Now they're exploring the US while working full-time.
▼ + stars: | 2024-01-31 | by ( Pooja Shah | ) www.businessinsider.com time to read: +5 min

This story is available exclusively to Business Insider subscribers. They chose a bus for its affordability and overall safetyThe coupled passed on an RV for a more affordable school bus. Transforming a school bus can also be safer with proper planning and preparation. Kumar told Business Insider. Pooja made sure to incorporate touches like curtains and decorations into the school bus.

Persons: —, Pooja, Kumar, Pooja Shah, Pooja Shah Pooja, Pooja Shah Kumar, they've Organizations: Service, Business Locations: Indiana , Michigan , Wisconsin , Minnesota, North, South Dakota , Colorado , Wyoming , Montana , Oregon, North California, California

Vipin Kumar | Hindustan Times | Getty ImagesIndia is set to release its interim budget for 2024 on Thursday, ahead of the country's highly anticipated general elections. The interim budget is seen as a stop-gap financial plan during an election year, aimed at meeting immediate financial needs before a new government is formed. Typically, the interim budget won't include big and sweeping policy announcements. Fiscal deficit targetIndia's fiscal deficit stands at 6.4% of gross domestic product for the 2023-2024 financial year. TaxesDon't expect significant shifts in taxation as this is only an interim budget, analysts say.

Persons: Vipin Kumar, Nirmala Sitharaman, Nomura, Goldman Sachs, Goldman, Nilesh Shah, Shah, it's, Bathini, Modi, India's Organizations: Hindustan Times, Getty, India, Bharatiya Janata Party, Goldman, Mahindra Asset Management, CNBC, Capital, WealthMills Securities, India's Finance, BJP Locations: New Delhi, India, China, Japan, Germany

☆ Costs, Crackdown Put a Damper on Pakistan's Election Campaigns
▼ + stars: | 2024-01-31 | by ( Jan. | At P.M. | ) www.usnews.com time to read: +3 min

By Ariba ShahidKARACHI (Reuters) - Higher living costs and political uncertainty have muted Pakistan's once boisterous election campaigns, with both candidates and those who supply them with materials bemoaning the need to do more with much less. Syed Arsalan Haider, a Karachi printer, said the cost of a square foot of banner was up by 130% since the last election. Khan, whose party won the last election, says the military wants to keep him from power, which the military denies. Meherbano Qureshi, a PTI candidate and daughter of the party's jailed vice chairman Shah Mehmood Qureshi, said people were scared to show their support and hang campaign material. (Reporting by Ariba Shahid in Karachi and Mubasher Bukhari in Lahore; Editing by YP Rajesh and Miral Fahmy)

Persons: Shahid, Imran Khan, Jawad Jiwani, Syed Arsalan Haider, Abdul Aziz, Taj Haider, Bilawal Bhutto Zardari, Faisal Subzwari, Khan, Meherbano Qureshi, Shah Mehmood Qureshi, Khurram Sher Zaman, They're, Ariba Shahid, Mubasher Bukhari, YP Rajesh, Miral Organizations: Monetary Fund, Pakistan People's Party, PTI, Mubasher, YP Locations: Shahid KARACHI, Pakistan, Karachi, festooned, Lahore

Islamabad, Pakistan CNN —Pakistan’s former leader Imran Khan has been sentenced to 10 years in prison for leaking state secrets, his political party Pakistan Tehreek-e-Insaf (PTI) said in a statement Tuesday. The former prime minister repeatedly alleged that Pakistani officials conspired with the country’s powerful military and the US to remove him from office. Khan has been behind bars since August after he was found guilty of corruption and sentenced to three years in prison. Despite being unable to stand in the upcoming vote, he remains a major political force owing to his widespread popularity. TV stations are banned from running Khan’s speeches, and many of his PTI party colleagues have been arrested.

Persons: Pakistan CNN — Pakistan’s, Imran Khan, Khan, Shah Mehmood Qureshi Organizations: Pakistan CNN, Cypher, PTI, US State Department Locations: Islamabad, Pakistan, Rawalpindi’s Adiala, Pakistani

☆ Former Pakistan Prime Minister Imran Khan sentenced to 10-year jail term
▼ + stars: | 2024-01-30 | by ( Natasha Turak | ) www.cnbc.com time to read: +2 min

Pakistan's former Prime Minister Imran Khan, gestures as he speaks to the members of the media at his residence in Lahore, Pakistan May 18, 2023. Former Prime Minister of Pakistan Imran Khan has been sentenced to 10 years in jail on charges of leaking state secrets, his party Pakistan Tehreek-e-Insaaf (PTI) confirmed in a post on social media site X on Tuesday. The former national cricket captain became Pakistan's prime minister in 2018. What can be more ridiculous than that Pakistan has imprisoned its Prime Minister and Foreign Minister for exposing the foreign conspiracy! One month later, he was removed from power in a vote of no-confidence by opposition lawmakers alleging corruption and unconstitutional actions.

Persons: Imran Khan, Pakistan Imran Khan, Khan, Shah Mahmood Qureshi, Khan's Organizations: Former, PTI Locations: Lahore, Pakistan, Islamabad, Washington

☆ Malaysia Installs Sultan Ibrahim of Johor State as New King
▼ + stars: | 2024-01-30 | by ( Jan. | At P.M. | ) www.usnews.com time to read: +1 min

KUALA LUMPUR (Reuters) - Malaysia's Sultan Ibrahim from the southern state of Johor was sworn in as the country's new king on Wednesday, taking the oath of office in a ceremony at the national palace in Kuala Lumpur. The monarchy plays a mostly ceremonial role in Malaysia, but its influence has grown in recent years, prompting the king to wield rarely-used discretionary powers to quell political instability. Sultan Ibrahim, 65, succeeds Al-Sultan Abdullah Sultan Ahmad Shah, who is returning to lead his home state of Pahang after completing his five-year tenure as king. While the monarchy is largely seen as above politics, Sultan Ibrahim has been noted for his forthrightness and outsized personality, often weighing in on the country's political issues. Known for his large collection of luxury cars and motorbikes, Sultan Ibrahim has wide-ranging business interests from real estate to mining, including a stake in Forest City - a $100-billion China-backed land reclamation and development project off Johor.

Persons: Sultan Ibrahim, Yang, Al, Sultan Abdullah Sultan Ahmad Shah, Rozanna Latiff, Danial Azhar, Martin Petty Organizations: Reuters Locations: KUALA LUMPUR, Johor, Kuala Lumpur, Malaysia, Pahang, Forest City, China

☆ Workers are paying to get part of their paychecks early. It's 'payday lending on steroids,' one expert says
▼ + stars: | 2024-01-28 | by ( Greg Iacurci | ) www.cnbc.com time to read: +12 min

Fotostorm | E+ | Getty ImagesMillions of American workers are paying for early access to their paychecks. So-called "earned wage access" programs, which operate either directly to the consumer or through employers, let workers tap a portion of their wages before payday, often for a fee. Earned wage access has gotten more popularEarned wage access goes by various names: daily pay, instant pay, accrued wage access, same-day pay and on-demand pay, for example. "It's another version of payday loans," Monica Burks, policy counsel at the Center for Responsible Lending, a consumer advocacy group, said of earned wage access. However, a recent study by the U.S. Government Accountability Office found that earned wage access products "generally cost less than typical costs associated with payday loans."

Persons: it's, Marshall Lux, Lux, hasn't, Cherie Chung, EarnIn, MoneyLion, Monica Burks, —, Thad Peterson, There's, EWA, Peterson, Harvard's, we're, Stacy Greiner, Dave, Ben LaRocco, Miranda Margowsky, Margowsky, Atif Siddiqi, Siddiqi, Safwan Shah, Shah, doesn't, Harvard's Chung Organizations: Harvard University, Finance, Harvard Kennedy School, Lux, Harvard, Hilton, Uber, Walmart, Companies, Center for, California Department of Financial Protection, Center for Responsible, U.S, Government, Office, GAO, Datos, Commerce, Economic, Financial Technology Association Locations: Kroger, McDonald's, California, Vermont

☆ I moved to Finland after reading it was the happiest place on earth. Here are 6 things that surprised me living and working here.
▼ + stars: | 2024-01-26 | by ( Pooja Shah | ) www.businessinsider.com time to read: +5 min

I moved to Helsinki without ever visiting Finland because I read that it was the happiest place on earth . Finnish people don't wear shoes in the officeWhile it's not unusual to take off your shoes before entering someone's house, most Finnish offices also have a no-shoe policy. Some offices will have "indoor shoes," but for the most part, colleagues will wear socks. Reindeer meat tasted good to me, very tender and rich earthy flavor. I see reindeer meat mostly sold in local markets throughout the city.

Persons: —, Jorge Reyes, it's, I've Organizations: Service, Business Locations: Bogotá, Colombia, Finland, Helsinki, someone's, saunas

☆ I moved to Finland after reading it's the happiest place on earth. Here are 6 things that surprised me living and working here.
▼ + stars: | 2024-01-26 | by ( Pooja Shah | ) www.businessinsider.com time to read: +6 min

I moved to Helsinki without ever visiting the country because I read that it was the happiest place on earth . Finnish people don't wear shoes in the officeWhile it's not unusual to take off your shoes before entering someone's house, most Finnish offices also have a no-shoe policy. Some offices will have "indoor shoes," but for the most part, colleagues will wear socks. Reindeer meat tasted good to me, very tender and rich earthy flavor. I see reindeer meat mostly sold in local markets throughout the city.

Persons: Jorge Reyes, Reyes, —, it's, I've Organizations: Service Locations: Finland, Bogota, Colombia, Helsinki, Bogotá, someone's, saunas

☆ Religious trips will fuel India’s tourism boom — airlines are gearing up with record aircraft orders
▼ + stars: | 2024-01-26 | by ( Charmaine Jacob | ) www.cnbc.com time to read: +1 min

India's tourism sector is set for a boom as more travelers take trips around the country for religious purposes. "Religious tourism is still the biggest segment of tourism in India … the creation of a new religious tourist centre (Ayodhya) with improved connectivity and infrastructure can create a meaningfully large economic impact," Jefferies highlighted. Indian media reported that around half a million people visited the Ram temple on its opening day which was inaugurated by Prime Minister Narendra Modi. The YouTube broadcast of the opening ceremony on Modi's channel alone received more than 11 million views. If it continues develop tourist destination including religious tourism, chances are that more and more people will come to visit India and it will even benefit on the foreign exchange side," said Nilesh Shah, managing director at Kotak Mahindra Asset Management.

Persons: Jefferies, —, Narendra Modi, Nilesh Shah Organizations: YouTube, Mahindra Asset Management Locations: Ayodhya, India, Rome's Vatican, Mecca, Saudi Arabia, Tirupati, Andhra Pradesh, Temple, Jammu, Kashmir

☆ Lion attacks: How to stay safe on safaris in Africa
▼ + stars: | 2024-01-25 | by ( Forrest Brown | ) edition.cnn.com time to read: +17 min

It was July of 2022, and the co-founder of Discover Africa Safaris was out in the bush near the Khwai River in northern Botswana. African lions are fully capable of attacking, killing and even eating humans, and it’s generally estimated about 250 people a year die in lion attacks. WLDavies/E+/Getty ImagesOnly about 23,000 lions remain in sub-Saharan Africa, found mostly in Eastern and Southern Africa, Muruthi said. Before your trip, It's important to study up on safety tips -- such as remaining inside your safari vehicle when lions and other wild animals approach. Secondly, fleeing indicates to the lion you’re frightened and now possible prey, turning what might have initially been a mock charge to test you into a real attack.

Persons: Steve Conradie, Discover Africa Safaris, — “, ‘, ” Conradie, “, ”, ’ Steven Conradie, …, Conradie, Philip Muruthi, He’s, Muruthi, Masai, ’, ” Muruthi, Paul A, Andre Van Kets, Van Kets, Martin Harvey, It’s, you’re, don’t, they'll, Robert Muckley, There’s, Anup Shah, ” Van Kets, I’d, — Organizations: CNN, Discover, Lion Recovery, African Wildlife Foundation, Masai Mara, Reserve, East, ” Lions, International Union for, Nature, Sacramento Zoo, PLOS, Africa Tourists, Bank, Kenya Geographic, San Diego Zoo Wildlife Alliance, Lions, … Locations: Discover Africa, Botswana, South Africa, Africa, Zimbabwe, Hwange, Kenya, Saharan Africa, Eastern, Southern Africa, Tanzania, East Africa, California, Namibia

☆ It looks like remote workers are getting the boot once again
▼ + stars: | 2024-01-24 | by ( Hasan Chowdhury | ) www.businessinsider.com time to read: +3 min

A bunch of executives at e-commerce firm Wayfair singled out remote workers as the ones who were more likely to have been laid off in a fresh round of cuts, The Wall Street Journal. The targeting of remote workers will come as little surprise for many, given the ugly battle that's been raging over remote work in recent months. Some bosses such as Elon Musk have disparaged remote workers as lazy members of the "laptop classes living in la la land," and called out the practice as "morally wrong." However, the Wayfair layoffs are a reminder that remote workers are in grave danger if their managers don't believe they're putting in the hours away from the office. Many remote workers will be feeling more vulnerable than ever.

Persons: —, Wayfair, Niraj Shah, Shah, Elon Musk, Goldman Sachs, David Solomon, Ken Griffin Organizations: Service, Street, Business, Elon, Meta, Google, eBay, Billionaire, Citadel Locations: la la

☆ Employers and workers are at odds over work-life balance — here's who is winning
▼ + stars: | 2024-01-23 | by ( Jessica Dickler | ) www.cnbc.com time to read: +1 min

At the end of last year, Wayfair CEO Niraj Shah had a clear message for workers heading into 2024: "Winning takes hard work." "There is not a lot of history of laziness being rewarded with success," Shah wrote. "In his note, Niraj was reinforcing some of the values that have contributed to Wayfair's success, including questioning the status quo, being cost-efficient and working hard together to drive results." However, employees now have other priorities, new research shows, and more time at the office is not one of them. Employees are more likely to consider work-life balance, flexible hours and mental health support as more important, the report found.

Persons: Niraj Shah, Shah, Niraj Organizations: Business, Finance

☆ Some states are loosening their Covid isolation guidelines, shifting away from CDC recommendations
▼ + stars: | 2024-01-23 | by ( Deidre Mcphillips | ) edition.cnn.com time to read: +8 min

Oregon changed its isolation policy in May when the Covid-19 public health emergency lifted, and California followed suit earlier this month. The recent order from the California health department notes that the potential infectious period spans from two days before through 10 days after symptoms or a positive test. Less restrictive isolation policies could allow people to feel more comfortable with testing, which could prompt them to get treatment or feel more comfortable taking other protective measures. Dr. Dean Sidelinger, Oregon’s state health officer, said that equity was a key factor considered in the decision to change isolation policy in the state. Public health policy decisions are rarely black-and-white, experts say, and weighing tradeoffs can be more of an art than a perfect science.

Persons: Tomás Aragón, ”, Jennifer Nuzzo, we’re, Dan Barouch, Sarita Shah, Dean Sidelinger, ” Barouch, –, ” Nuzzo, Shah, Dr, Sanjay Gupta, you’re, ” Shah, “ Organizations: CNN —, US Centers for Disease Control, California Department of Public Health, CDC, Pandemic, Brown University School of Public Health, Center, Virology, Vaccine, Beth Israel Deaconess Medical, Emory University, Get CNN, CNN Health Locations: California, Oregon, COVID, hospitalizations, Covid

☆ A tech CEO died after falling 20 feet to the stage at a company event when a cable snapped
▼ + stars: | 2024-01-22 | by ( Jyoti Mann | ) www.businessinsider.com time to read: +2 min

The CEO of an Illinois-based software firm died following an incident at a company event, reports say. The company was holding an event in Hyderabad, India to celebrate its 25th anniversary. AdvertisementA tech CEO died following an incident at a company event in India, multiple outlets reported. The two men can be seen falling out of the cage and plunging about 20 feet to the stage. Shah, 56, was the founder of Vistex and CEO of the revenue management software firm for 25 years.

Persons: Sanjay Shah, Vistex, —, Vishwanath Raju Datla, Shah Organizations: Service, The Times, Film, CBS News Locations: Illinois, Hyderabad, India

☆ Wayfair is slashing 1,650 jobs just weeks after the CEO said it was profitable again
▼ + stars: | 2024-01-19 | by ( Grace Dean | ) www.businessinsider.com time to read: +2 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewWayfair said Friday it's cutting 1,650 jobs, with many corporate staff in the firing line. "I truly regret the impact this will have on you," Shah told staff in an email on Friday announcing the layoffs. Wayfair appears to have had about 12,700 staff before the most recent round of layoffs. Were you laid off by Wayfair or are you concerned about the cuts?

Persons: —, Wayfair, Niraj Shah, Shah, they've Organizations: Service, Business

☆ Wayfair to lay off 13% of workforce, impacting 1,650 employees
▼ + stars: | 2024-01-19 | by ( Gabrielle Fonrouge | In Gabrielle-Fonrouge | ) www.cnbc.com time to read: +2 min

Wayfair is cutting 13% of its global workforce as the digital home goods retailer looks to trim down its structure, cut out layers of management and reduce costs, it announced Friday. The company plans to lay off around 1,650 employees, including 19% of its corporate team, with a focus on people in management and leadership positions, the company said. The restructuring – the third Wayfair has implemented since summer 2022 – is expected to save the company about $280 million, it said. The layoffs come after Hasbro , Etsy and Macy's all announced cuts to their workforces as retailers contend with slowing demand and an uncertain economy. As a result, Wayfair has needed to make cuts to ensure its staffing levels are proportionate to how much business it's doing.

Persons: –, Niraj Shah, Macy's, Wayfair Organizations: New York Stock Exchange, Hasbro, Etsy

☆ Wayfair lays off 13% of its workforce weeks after telling employees to work harder
▼ + stars: | 2024-01-19 | by ( Jordan Valinsky | ) edition.cnn.com time to read: +2 min

New York CNN —Wayfair is laying off 1,650 employees, amounting to 13% of its global workforce, as the online home goods retailer struggled to rebound following its success amid pandemic lockdowns. “I believe we need to stay focused as a company on what committed small teams can accomplish,” Shah wrote Friday. All workers will receive an email Friday about their future with the company and severance will be offered to those affected. Late last year, Wayfair’s Shah garnered attention for his blunt year-end letter to his employees telling them to blend work and life together. Shah also encouraged Wayfair employees to think of the company money they spend as their own and negotiate prices.

Persons: New York CNN —, Niraj Shah, Wayfair “, Shah, “, ” Shah, Wayfair, Wayfair’s Shah, ”, CNN’s Nathaniel Meyersohn Organizations: New, New York CNN Locations: New York, Boston

☆ Read the email Wayfair's CEO sent to staff announcing that it's laying off 13% of its workforce
▼ + stars: | 2024-01-19 | by ( Grace Dean | ) www.businessinsider.com time to read: +10 min

Wayfair said on Friday that it was cutting 13% of its global workforce, or around 1,650 workers. This came only weeks after CEO Niraj Shah sent a companywide email saying Wayfair was "back to winning" but also warning that staff should be careful with its money. AdvertisementNorth American staff would receive an email shortly letting them know whether their roles had been affected, while laid-off staff in Europe had already begun discussions with HR about the next steps, Shah said. Read the full email Shah sent to Wayfair staff below. First, I want to be clear that there are many things at the company that are going well.

Persons: Wayfair, Niraj Shah, Shah, we've, you'll, Covid, – Organizations: Talent, Covid Locations: Europe, North America, Wayfair

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