DIRS.INFO The most relevant business & tech news

☆ Tesla's chaotic layoffs leave employees nervous and wondering when the cuts will end
▼ + stars: | 2024-04-23 | by ( Grace Kay | ) www.businessinsider.com time to read: +5 min

Tesla employees say they've been left in limbo after a week of layoffs. AdvertisementIn the wake of Tesla's mass layoffs last week, some workers who are still at the carmaker say they feel as if they've been left in limbo. Tesla workers have been put through the wringer ever since layoffs started on Sunday, April 14. "It was like all at once, people you'd seen every day were just erased from the company," the worker said. On Friday, Tesla's layoffs impacted its recruiting staff in the US.

Persons: they've, Elon Musk, —, Elon, they'd, you'd, we'd Organizations: Elon, Tesla, Service, EV, Business, Bloomberg Locations: China

An AWS spokesperson said in an emailed statement that the company has introduced more cost-effective options for moving data. As of March, AWS had removed Snowmobile from its website, and the Amazon unit has stopped offering the service, CNBC has confirmed. Andy Jassy, now Amazon's CEO, called it the Snowmobile, and said the company would be using the truck to help customers speedily transfer data to Amazon Web Services facilities. "We intend to make sure that Snowmobile is both faster and less expensive than using a network-based data transfer model," Barr wrote. Clients generally find that sending data to AWS online is more economical than using Snowmobile, the company said.

Persons: we've, Andy Jassy, Jassy, Jeff Barr, Barr, Maxar, There's, we're Organizations: AWS, CNBC, Amazon Web Services, Amazon, Microsoft Locations: Las Vegas

☆ Deepening US divide over Israel tests the limits of free speech
▼ + stars: | 2024-04-16 | by ( Zachary B. Wolf | ) edition.cnn.com time to read: +8 min

Separately, on Monday, the University of Southern California canceled the commencement speech of its valedictorian – biomedical engineering major Asna Tabassum, who is Muslim – after her social media posts were targeted by pro-Israel activists, raising questions about the existence of free speech. “Tradition must give way to safety,” USC Provost Andrew Guzman wrote in an online, campuswide letter announcing his decision to axe Tabassum’s speech. In her Instagram profile, she links to a website that calls for the abolishment of the state of Israel. The content of the commencement speech was not mentioned in Guzman’s letter announcing the cancellation, and he argued it was not about speech but about security. When Fisk tried to grab the microphone from Afaneh, the mixer turned into a social media moment.

Persons: ”, Tabassum, –, Andrew Guzman, Jon Chu, Rich Asians ”, Asna Tabassum, CNN’s Nick Watt, ” Tabassum, “, Guzman, ” Guzman, there’s, Tom Cotton of, ” Cotton, Cotton, George Floyd, Sen, John Fetterman, Erwin Chemerinsky, Catherine Fisk –, Fisk, Malak Afaneh, Chemerinsky, Jake Tapper, Defamation League “ Organizations: CNN — Pro, Israel, University of Southern, USC, Rich Asians, Bay, Republican, Fox News, The New York Times, Pennsylvania Democrat, Starbucks, University of California, Berkeley Law, Justice, CNN, Islamic Relations, CAIR, Defamation League Locations: Gaza, Bakersfield , California, University of Southern California, USC, Los Angeles, Israel, Tom Cotton of Arkansas, Pennsylvania, Ann Arbor , Michigan, Berkeley, Oakland , California, Palestine, United States

☆ UK regulator refers Vodafone's merger with Three for in-depth competition probe
▼ + stars: | 2024-04-04 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +2 min

The U.K. competition regulator on Thursday referred the proposed merger between Vodafone and CK Hutchison's Three mobile network to an in-depth investigation. The CMA has given itself a deadline of Sept. 18 to complete the in-depth probe, also known as a phase 2 investigation. The CMA has previously said the deal could lead to customers facing higher prices and reduced quality, a lessening of competition in the U.K. mobile market. Announced last year, Vodafone and CK Hutchison's transaction would merge the two brands' U.K. businesses, giving Vodafone a 51% controlling stake and leaving CK Hutchison with the minority interest. Vodafone and Three reiterated that "there will be no change to each operator's pricing strategy as a result of the merger."

Persons: Margherita Della Valle, CK Hutchison Organizations: Vodafone, CK, Markets Authority, CMA, Regulators, CK Hutchison Locations: London, British, United Kingdom

☆ My ex-husband and I were in an open relationship when I met a new partner at the gym. I got a divorce, and we're engaged.
▼ + stars: | 2024-03-30 | by ( Melissa Noble | ) www.businessinsider.com time to read: +6 min

Morgan Owen was married to her ex-husband when she walked into the gym one day and saw Axe. My ex-husband and I were married for a while, and for a number of years, I still couldn't pin down my unhappiness. It really wasn't until I was 29 that I started to become more and more sure of myself. AdvertisementMorgan and Axe knew they wanted to be together not long after they started dating. But then, just half an hour later, Axe asked if they could see me.

Persons: Morgan Owen, —, Axel, It's Morgan, I'd, Morgan, Axe, Ashleigh Haase, We've, There's Organizations: Service, Pacific Locations: Melbourne, Australia, Hawthorn

☆ Harvard applications dip — but don’t plunge — following historic turmoil
▼ + stars: | 2024-03-28 | by ( Matt Egan | Ramishah Maruf | ) edition.cnn.com time to read: +4 min

The application figures are also the first look at Ivy League school admissions after the Supreme Court gutted affirmative action, although the data does not include demographic breakdowns. Harvard said Thursday it received 54,008 applicants for the class of 2028, down 5% from the year before. This marks the fewest applicants to Harvard since the class of 2024’s enrollment period during the Covid-19 pandemic. Harvard said it accepted 1,937 students for the class of 2028, translating to an admissions rate of 3.58%. The all-time low admissions rate was set just two years ago at 3.19%.

Persons: Claudine Gay, Liz Magill, Logan Powell, Virginia Foxx Organizations: New, New York CNN, Harvard University, Ivy League, Harvard, University of Pennsylvania, Columbia University, Cornell University, Brown University, US, University of North, House Education, Workforce Committee Locations: New York, Israel, Columbia, University of North Carolina

LONDON (AP) — Unilever, the company that makes Ben & Jerry’s ice cream, Dove soaps and Vaseline, said Tuesday that it is cutting 7,500 jobs and spinning off its ice cream business to reduce costs and boost profits. London-based Unilever said its ice cream business, which also includes Magnum bars, has “distinct characteristics” from its other brands and would benefit from separate ownership to increase growth. The British consumer goods company with 128,000 employees also said it is launching a “productivity program” that is expected to lead to a reduction of about 7,500 mostly office-based jobs worldwide. The company behind Hellman’s mayonnaise, Axe fragrances and Cif household cleaners said it is targeting underlying sales growth of mid-single digits after spinning off the ice cream business. It saw sales volume drop 3.6% in 2022 after jacking up prices 13.3% on average across its brands that year.

Persons: Hein Schumacher, ”, Richard Hunter Organizations: — Unilever, Unilever, London Stock Exchange Locations: London

☆ I was shocked when a recruiter told me I was too old for another tech job. But now I'm fighting back.
▼ + stars: | 2024-03-16 | by ( Tim Paradis | ) www.businessinsider.com time to read: +7 min

He would like to work in tech again while building his fundraising company, Purpose Brew Coffee. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. I've been in tech as a developer, a senior engineer, principal software engineer — whatever you want to call it — for 37 years. AdvertisementThen he goes, "With 37 years in this business, I'm surprised you're not a CTO." I'm an old Army sergeant; I can play paintball, but I'm 58 years old.

Persons: Vern Six, ageism, —, I've, I'm, you've, he'd, It's, they're, I'd, they'd, Let's, We've Organizations: Service, —, LinkedIn Locations: Waco , Texas, Dallas, Guatemala

☆ Adidas warns of falling sales in North America as it continues to sell off Yeezy inventory
▼ + stars: | 2024-03-13 | by ( Elliot Smith | ) www.cnbc.com time to read: +3 min

Adidas on Wednesday warned of a sales decline in its overstocked North American market in 2024, as the German sportswear brand continues to sell off its remaining Yeezy inventory. Currency-neutral sales in North America are expected to decline to a mid-single-digit rate in 2024, but are projected to notch mid-single-digit growth worldwide despite persistent "macroeconomic challenges and geopolitical tensions," the company said. For the fourth quarter, the company posted an operating loss of 377 million euros. "Despite losing a lot of Yeezy revenue and a very conservative sell-in strategy, we managed to have flat revenues. We expected to have a substantial negative operating result, but achieved an operating profit of €268 million."

Persons: Ye, Bjørn Gulden, Yeezy Organizations: Adidas, Kanye, adidas Locations: North America, U.S

☆ Qatar’s Lusail Towers: Norman Foster on how to ‘reinvent the tall building’
▼ + stars: | 2024-02-29 | by ( Rochelle Beighton | ) edition.cnn.com time to read: +4 min

CNN —Lord Norman Foster, renowned as one of the world’s foremost architects, has dedicated decades to redefining the concept of tall buildings. Currently nearing completion and set to reach a height of 301 meters (988 feet), Foster’s Lusail Towers are poised to claim the title of Qatar’s tallest buildings, surpassing the current record holder, The Torch Doha. Breaking ground in January 2020, the Lusail Towers stand amidst a plethora of new developments in the area, including Lusail Stadium, also designed by Foster + Partners for the 2022 FIFA World Cup. Building from the ground upWhile the towers are poised to become a recognizable landmark for Lusail, Foster believes that a city’s skyline reflects what lies beneath the surface. The Lusail Towers are set to be completed in phases over the next 12 months.

Persons: Norman Foster, St Mary Axe, he’s, Foster, ” Foster, “ We’ve, “ It’s, Luke Fox, ” Fox Organizations: CNN, St, HSBC, Foster + Partners, Lusail, Foster, Partners, AFC Asian Locations: Hong Kong, Qatar, Doha, Lusail

☆ Panera Bread is overhauling its menu
▼ + stars: | 2024-02-29 | by ( Jordan Valinsky | ) edition.cnn.com time to read: +2 min

New York CNN —Panera Bread is undergoing its “largest menu transformation ever,” shifting away from its attempt at dinner and refocusing on what it’s best known for, like sandwiches and salads. Panera didn’t release a full list of the menu items that are getting the axe, other than confirming that the flatbreads it introduced in 2019 are being eliminated. Panera confirmed that the kitchen sink cookie, kids menu and soufflés are staying. Panera teased that more details about that menu changes will be unveiled in March. Panera is also aiming to lure in budget-conscious customers with some of the new menu items being priced under $10.

Persons: Panera, ” Alicia Mowder, ”, ” Panera Organizations: New, New York CNN, CNN, “ Bravo Locations: New York, Bacon

It was the winter of 2021 when Philbert Shorty’s family found his abandoned car stuck in the mud outside the small community of Tsaile near the Arizona-New Mexico state line. Generations of unaddressed trauma combine with substance abuse to create a dangerous recipe that often ends in violence, and law enforcement resources and social support programs are too sparse to offer much help. Like others, Shorty's family now knows the suffering will linger despite the increased emphasis on solving such crimes. Her group has conducted dozens of individual searches, and she has helped to build bridges between families and law enforcement to help families avoid feeling like their cases are falling through cracks. “Even if (law enforcement) would just talk to the families, say, `We don’t have anything yet but we’re still working on it,' it would help," she said.

Persons: Philbert, Ben Shorty, “, ”, he’d, Shiloh Aaron Oldrock, Oldrock's, Oldrock, Donald Trump, Deb Haaland, Biden, New Mexico Alexander Uballez, Shorty, ” Uballez, Uballez, Department's, ” Ben Shorty, Philbert Shorty, That's, couldn't, Darlene Gomez, Beyale, ‘, Erwin Beach, Beach, ” Beyale, I've, They're, ___ Sonner, Susan Montoya Bryan Organizations: Interior Department, Attorney, District, U.S ., Navajo Nation, FBI, Associated Press, Navajo, ’, AP Locations: Tsaile, Arizona, New Mexico, Navajo, , North Dakota, Indian Country, United States, Canada, U.S, Albuquerque, Farmington , New Mexico, Oldrock, Beach, Reno , Nevada, Albuquerque , New Mexico

☆ Second Trump Presidency Would Axe Biden Climate Agenda, Gut Energy Regulators
▼ + stars: | 2024-02-16 | by ( Feb. | At A.M. | ) www.usnews.com time to read: +7 min

Much of that work could go up in smoke if his likely rival Donald Trump beats him at the polls in November, according to Republican policy advisers. Reuters spoke with a dozen Republican policy consultants and former Trump administration officials who are helping lay the groundwork for a second Trump presidency to sketch out the administration's likely approach to energy and environmental issues. Trump formally withdrew the U.S. during his first term in office but Biden swiftly reversed the move in 2021. "A big lesson that everybody in the first Trump administration learned was that personnel is really important. The idea of taking a hatchet to the entire IRA could, however, give some oil industry officials and Republican politicians pause, a former Trump administration official said.

Persons: Valerie Volcovici, Gram Slattery WASHINGTON, Joe Biden, Donald Trump, Trump, Stephen Moore, Trump's, Larry Kudlow, David Bernhardt, Rick Perry, Kevin Hassett, Harold Hamm, Biden, George David Banks, Ivanka, Mike McKenna, Diana Furchtgott, Roth, Timothy Gardner, Richard Valdmanis, Deepa Babington Organizations: Republican, United Nations, Trump, Reuters, White, Heritage Foundation, Republicans, Economic, Energy, Biden, America, Policy Institute, Heritage Locations: United States, Paris, Biden's

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHow Axe Body Spray plans to make a comeback in the U.S.Unilever's Axe used humor and irony in its early 2000s advertising campaigns to win over the American teenage boy. The brand's estimated U.S. sales reached nearly $500 million by 2012, but sales began to decline over the next five years as the brand lost sight of its core product offering. In 2023, Axe released a new line of product aiming to compete with high-end fragrances.

Locations: U.S, American

☆ How Axe Body Spray is trying to move beyond teenage boys' lockers
▼ + stars: | 2024-02-07 | by ( Ryan Baker | ) www.cnbc.com time to read: +2 min

If you were a teenage boy in the early 2000s, there's a good chance you wore Unilever 's Axe Body Spray at some point. Axe Body Spray entered the U.S. market in 2002, and within a decade of its arrival, Unilever was bringing in nearly half a billion dollars in domestic sales for Axe products, according to estimates from market research firm Kline & Company. But as the brand took off, its offerings rapidly expanded as it was churning out new lines of body wash and hair care. "They launched all different other products that took the advertising dollars away from the body spray itself. 1 men's deodorant worldwide, selling $1.7 billion worth of deodorant and body spray in 2022, according to Euromonitor International.

Persons: there's, John Hegarty, Bartle Bogle Hegarty, Kline, Ann Gottlieb, Stephan Kanlian Organizations: Unilever, Kline & Company, Fashion Institute, Technology's, Euromonitor Locations: London, U.S

☆ Gen X and boomers love Temu. I asked them why.
▼ + stars: | 2024-02-04 | by ( Katie Notopoulos | ) www.businessinsider.com time to read: +6 min

Recent research showed that boomers and Gen Xers shopped more frequently on Temu than younger people. I was surprised when I read a research study recently that said that Gen X and boomer Temu shoppers tended to spend slightly more per order and placed orders more often than younger shoppers. AdvertisementSo I asked readers who were boomers or Gen Xers to write in and tell me: Why do they love Temu so much? The Gen X and boomers denied this — most of them said they ignored the annoying roulette wheels. —LanieA variety of items bought by a Gen Xer on Temu Kristy MeeksA crafter who gets jewelry-making supplies:I shop on Temu mostly for jewelry, crafting and jewelry supplies.

Persons: Gen Xers, —, fanny, Elsa, X, Temu, Xers, Tyrone A, I'm, They're, it's, — Linda, Kristy Meeks, Lydia, I've, Randy, Bill Craft supples, Bill Eldridge The Organizations: Service, Amazon Locations: Temu, Toronto, China

☆ UK opens antitrust probe into Vodafone merger with CK Hutchison's Three mobile network
▼ + stars: | 2024-01-26 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +1 min

A pedestrian walks past a Vodafone store in central London on May 16, 2023. British mobile giant Vodafone is to axe 11,000 jobs over three years in the latest cull to hit the tech sector, as new boss Margherita Della Valle slammed recent performance. Britain's competition watchdog on Friday said it is opening an investigation into the proposed merger between Vodafone and the Three UK mobile network owned by CK Hutchison . The initial probe will look at whether the deal will lead to a "substantial lessening of competition," according to the U.K. Competition and Markets Authority (CMA). "The CMA will assess how this tie-up between rival networks could impact competition before deciding next steps."

Persons: Margherita Della Valle, CK Hutchison, Sarah Cardell Organizations: Vodafone, CK, U.K, Competition, Markets Authority, CMA Locations: London, British

☆ Domino's pizza is the latest American product facing backlash in Asia amid the Middle East turmoil, exec says
▼ + stars: | 2024-01-26 | by ( Alex Bitter | ) www.businessinsider.com time to read: +4 min

Read previewDomino's Pizza is the latest American brand to face blowback as some consumers change their buying habits in light of Israel's invasion of Gaza. Domino's Pizza Enterprises, a franchisee of the US company that operates Domino's restaurants in Australia, Europe, and Asia, said same-store sales in Asia fell an estimated 8.9% in the second half of 2023. Domino's Pizza Enterprises also operates in countries including Singapore, Japan and Taiwan. Spokespeople for Domino's Pizza Enterprises and Procter & Gamble did not immediately respond to Business Insider's request for additional comment. In an investor presentation last month, Unilever CEO Hein Schumacher said that some of its brands in Indonesia have been affected by "the wars in the Middle East."

Persons: —, America —, Donald Meij, Domino's, Gamble, McDonald's hasn't, Ian Borden, Borden, Hein Schumacher Organizations: Service, Business, Pizza Enterprises, Enterprises, Palestine, CNN, Israel, Procter & Gamble, Bloomberg, Starbucks, Domino's Pizza Enterprises, Procter, Reuters, Unilever Locations: Gaza, Australia, Europe, Asia, Malaysia, Singapore, Japan, Taiwan, Israel, Indonesia, Pakistan, pushback, Egypt, Jordan, London

☆ 4 ways to move past seasonal sadness with physical activity
▼ + stars: | 2024-01-20 | by ( Dana Santas | ) edition.cnn.com time to read: +6 min

For some, the seasonal shift can lead to a clinically depressive state aptly called seasonal affective disorder, or SAD. Even better, it takes less effort than you might think to realize the mental benefits. Below, I’ve outlined four science-backed ways you can become more active to boost your mental health and ease the winter blues. Meeting the World Health Organization’s guidelines of 2.5 hours of moderate exercise weekly provides maximum overall physical and mental health benefits, but studies have shown that even relatively small doses of activity offer significant mental health benefits. Whatever form of exercise you choose, adding just a little more physical activity into your life will provide noticeable mood-boosting benefits to help you get past the seasonal slump.

Persons: Dana Santas, I’ve, Julia Amaral, What’s Organizations: Pain, CNN, American Psychological Association, Getty, Facebook, Massachusetts General Hospital, CNN’s Locations: playtime

INDIANAPOLIS (AP) — In a state as solidly Republican as Indiana, the May primary is the real competition. Indiana’s primary is May 7. “In Indiana, we are not used to seeing competitive primaries,” said Gregory Shufeldt, a professor of political science at the University of Indianapolis. However, Hill ended the year millions of dollars behind the competition, reporting about $123,000 in cash on hand. Both have led the Indiana Economic Development Corporation, a quasi-governmental agency, and have focused their campaigning on Indiana’s economic future.

Persons: Eric Holcomb, ”, Gregory Shufeldt, Shufeldt, Sen, Mike Braun's, Jim Banks, Donald Trump, Braun, Gov, Suzanne Crouch, Holcomb, Crouch, “ It’s, Curtis Hill, Hill, Mitchell Daniels, Mike Pence, Brad Chambers, Eric Doden, Doden’s, Chambers, Doden, Laura Wilson, Jennifer McCormick, McCormick, Donald Rainwater, Jamie Reitenour, Wilson, ” Wilson Organizations: INDIANAPOLIS, Republican, GOP, University of Indianapolis, U.S, Trump, Indiana Supreme, Gov, Indiana Economic Development Corporation, Democratic, “ Locations: Indiana, “ In Indiana, University of Indianapolis . Indiana

☆ Opinion: There’s a lot of good news for Nikki Haley. But here’s the bad news.
▼ + stars: | 2023-12-05 | by ( David Axelrod | ) edition.cnn.com time to read: +5 min

CNN —The Republican presidential debates have so far produced two big winners – one who will be center stage Wednesday in Tuscaloosa, Alabama, for the fourth GOP matchup, and another who won’t be there at all. The good news for Haley is that she is now running neck-and-neck for second place with the formerly formidable Florida Gov. In skipping the debates, Trump wagered that without his oversized presence, his opponents would primarily train their fire on each other. With Trump absent, Haley, who thus far has mostly eluded frontal attacks, is more likely to get frontrunner treatment from her rivals on Wednesday night. Chris Christie, the most outspoken critic of Trump in the Republican field, also hopes to make New Hampshire a breakthrough moment.

Persons: David Axelrod, ”, Barack Obama, Obama, Nikki Haley, Donald Trump, Haley, Ron DeSantis, Trump, DeSantis, Sen, Tim Scott of, Charles Koch, Chris Christie, Christie, Vivek Ramaswamy, parry, Mike Pence, Doug Burgum, Ronna McDaniel, McDaniel, Joe Biden Organizations: CNN, GOP, UN, South, Republican, Florida Gov, Trump, University of Alabama, Hawkeye State, New, New Jersey Gov, North Dakota Gov, Republican Party Locations: Tuscaloosa , Alabama, South Carolina, Iowa, Hawkeye, New Hampshire, DeSantis, Tim Scott of South Carolina, New Jersey

The logo of Spanish telecoms firm Telefonica is seen atop the company's building in Madrid, Spain, September 6, 2023. REUTERS/Violeta Santos Moura//File Photo Acquire Licensing RightsMADRID, Dec 4 (Reuters) - Telefonica told unions on Monday it was seeking to cut around 5,100 jobs in Spain by 2026 in an effort to reduce costs and adapt the company's size to the current market, a UGT union spokesperson said. The company based the decision on productivity, organization and technical reasons, the union spokesman said as Telefonica and the unions started negotiating the layoffs. In a statement Telefonica confirmed the labour "adjustment", but declined to say how many jobs it intended to axe. The company will negotiate the extent of the job cutting with the union, so that the actual cuts could be fewer than the 5,100 ones targeted by the company, UGT spokesperson Diego Gallart said.

Persons: Violeta Santos Moura, Diego Gallart, Inti Landauro, Matteo Allievi, Jakub Olesiuk, Andrei Khalip, Jan Harvey Organizations: Telefonica, REUTERS, Rights, Thomson Locations: Madrid, Spain

A pedestrian carrying an umbrella walks along the River Thames in view of City of London skyline in London, Britain, July 31, 2023. Finance executives, consultants and headhunters interviewed by Reuters predict subdued deal flows, modest bonuses for most and heavy job cuts in 2024. "2023 will ultimately be one of the lowest corporate finance fee pools in modern history," said Fabrizio Campelli, head of Corporate Bank and Investment Bank at Deutsche Bank. JOB CUTSBanks have already turned to cost cuts to try to weather the downturn, which in a people-intensive business means job losses. And although some bankers expect a tough 2024, others sense an opportunity for European banks from the Basel Endgame.

Persons: Hollie Adams, Fabrizio Campelli, Banks, Ronan O'Kelly, Oliver Wyman, O'Kelly, Dominic Hook, Goldman Sachs, Vis Raghavan, JP Morgan, Morgan McKinley's, Stephane Rambosson, headhunter, Rambosson, Ana Botin, Morgan's Raghavan, there's, Oliver Wyman's O'Kelly, Deutsche's Campelli, Anousha Sakoui, Carolyn Cohn, Jesus Aguado, Alexander Smith Organizations: REUTERS, LONDON, Finance, Reuters, Corporate Bank, Investment Bank, Deutsche Bank, Organisation for Economic Cooperation, Development, Barclays, Lloyds, Challenger Metro Bank, UBS UBSG.S, Citi, Workers, Global Investment Banking, Employment, European Union, Santander, Global, Basel, Thomson Locations: City, London, Britain, Europe, Middle East, Africa, Ukraine, West, China, United States, India, Madrid

Signage is seen outside of a Metro Bank in London, Britain, May 22, 2019. REUTERS/Hannah McKay/File Photo Acquire Licensing RightsNov 30 (Reuters) - Metro Bank (MTRO.L) on Thursday announced sweeping cost-cutting plans aimed at bolstering its finances, which could see the embattled British lender lay off 20% of its staff and axe some of its biggest customer perks including seven-day opening hours. The lender expects to take a lower-than-expected one-off restructuring charge of between 10 million pounds and 15 million pounds in 2023. Metro Bank did not immediately respond to a request for clarification on the precise number of roles at risk, but the lender employs around 4,000 people, according to its latest annual report. It is also reviewing its seven-day opening and extended store hours and will "selectively streamline lending" to focus on relationship banking to maximise risk-adjusted returns.

Persons: Hannah McKay, Jaime Gilinski, Daniel Frumkin, outflows, Yadarisa, Sinead Cruise, Elizabeth Howcroft, Rashmi Aich, Sherry Jacob, Phillips, Sharon Singleton Organizations: Metro Bank, REUTERS, Metro, Thomson Locations: London, Britain, Colombian, Bengaluru

☆ Opinion | Should Biden Bow Out, as David Axelrod Urged?
▼ + stars: | 2023-11-26 | by ( ) www.nytimes.com time to read: +1 min

To the Editor:Re “The Axe Is Sharp,” by Maureen Dowd (column, Nov. 19):While reading Ms. Dowd’s column on whether President Biden should run for a second term, I was struck by a historical parallel. Like Mr. Biden, President Lyndon B. Johnson had served a deeply charismatic president and used his extensive senatorial experience to seal that president’s vision with legislation. But facing health concerns and declining popularity because of the Vietnam War, as well as surprisingly strong opposition by Robert F. Kennedy, Johnson decided that his moment had passed. As David Axelrod has noted, it is time to consider allowing other Democratic leaders to step forward. Mr. Biden has served the nation honorably for longer than most Americans have been alive, guiding the country through dark times and leaving a clear legislative mark.

Persons: Maureen Dowd, Biden, Lyndon B, Johnson, Robert F, Kennedy, David Axelrod Organizations: Democratic Locations: Vietnam

Search resuls for: "Axe"

25 mentions found