Amazon to lay off 9,000 more workers
Amazon will lay off 9,000 more employees, CEO Andy Jassy said in a memo to staff on Monday.
The cuts are on top of the previous layoffs that commenced last November and extended into January. That round affected more than 18,000 employees.
Amazon made the decision to lay off more employees as it looks to streamline costs and take into account the uncertain economy, as well as the “uncertainty that exists in the near future,” Jassy said. The company just wrapped up the second phase of its annual budgeting process, referred to internally as “OP2.”
“The overriding tenet of our…
Canada’s inflation rate falls to lowest level since August 2021, hits 4.3% in March – Business News
Inflation cools to 4.3%
The Canadian Press – Apr 18, 2023 / 5:43 am | Stories: 421877
Photo: The Canadian Press
Signage marks the Statistics Canada offices in Ottawa on July 21, 2010. The federal agency’s latest consumer price index report will provide an update on the pace of price growth in the country. THE CANADIAN PRESS/Sean Kilpatrick
UPDATE 5:42 am
Statistics Canada says the country’s annual inflation rate fell to 4.3 per cent last month, down from 5.2 per cent in February.
That’s the lowest it’s been since August 2021 as global price pressures ease and high interest rates…
The oil and gas sector is routinely targeted by cyberattackers, experts say – Business News
Oil & gas cyberattacks
The Canadian Press – Apr 10, 2023 / 4:00 pm | Story: 420603
Photo: The Canadian Press
Pipes are seen at a natural gas plant outside of Fort St. John, BC, October 11, 2018. Cybersecurity experts say they aren’t surprised by the revelation contained within a package of leaked US intelligence documents that suggests Russian hackers successfully gained access to Canada’s natural gas distribution network. THE CANADIAN PRESS Jonathan Hayward
Cybersecurity experts say they aren’t surprised by the revelations contained within a package of leaked US intelligence documents suggesting Russian-backed hackers successfully gained access to Canada’s…
NPR quits Elon Musk’s Twitter over ‘government-funded’ label – Business News
Photo: The Canadian Press
National Public Radio is quitting Twitter after the social media platform owned by Elon Musk stamped NPR’s main account with labels the news organization says undermine its credibility.
Twitter labeled NPR’s main account last week as “state-affiliated media,” a label also used to identify media outlets that are controlled or heavily influenced by authoritarian governments, such as Russia and China. Twitter later changed the label to “government-funded media” and gave it to a few other organizations, such as the Public Broadcasting Service in the US and the British Broadcasting Corporation in the UK
NPR said in…
Judge denies Elizabeth Holmes’ request to stay out of prison while she appeals fraud conviction
A US District Court judge has ruled that Elizabeth Holmes, founder and CEO of the disgraced blood-testing company Theranos, cannot remain free on bail while she appeals her fraud conviction.
According to court documents filed Monday, Judge Edward Davila ruled that the portion of the conviction that Holmes is appealing is not likely to be overturned. A jury found Holmes guilty in January 2022 of four counts of fraud in connection with her leadership at Theranos. In November, she was sentenced to more than 11 years in prison.
In his latest decision, Davila noted Holmes is challenging her conviction based…
Tupperware could go out of business, here’s why
Tupperware is an American kitchen classic, but the brand recently warned it could soon be out of business.
The reusable containers have been a home cooking staple since 1946 and swept the nation with early trends like Tupperware parties in the ’50s through the ’70s. In recent years, however, they’ve been less popular with younger generations.”
In a regulatory filing earlier this month, Tupperware said it had “substantial doubt about the company’s ability to continue as a going concern.”
“Further,” the company stated in a press release on April 7, “due to the challenging internal and external business economics, coupled…
Food storage brand Tupperware warns it could go out of business
Legendary food storage brand Tupperware has hired advisers to help turn around the company after notifying securities regulators it may have to close up shops.
In a release dated April 7, the Orlando, Florida-based company announced it was seeking to improve its capital structure in order to “remediate its doubts regarding its ability to continue as a going concern.”
That same day, Tupperware issued a going-concern notice after warning it could be heading for a default if its lenders demand payment to maintain access to the company’s main line of credit.
“If such demand for repayment was to occur, the…
Judge: Dominion defamation case against Fox will go to trial – Business News
Fox lawsuit will go to trial
The Canadian Press – March 31, 2023 / 1:50 p.m | Stories: 418963
Photo: The Canadian Press
FILE – A headline about President Donald Trump is displayed outside Fox News studios in New York on Nov. 28, 2018. Documents in defamation lawsuit illustrate the pressures faced by Fox News journalists in the weeks after the 2020 presidential election. The network was on a collision course between giving its conservative audience what it wanted and reporting uncomfortable truths about then-President Donald Trump and his false fraud claims. (AP Photo/Mark Lennihan, Files)
A voting machine company’s…
