THREAD: shocking layoffs as meta cuts
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MAJOR RETAIL Chain Shutdown Shock: 150 Stores To Close As Jobs Vanish
— A leading U.S. retailer will close 150 stores across the country in the next year. The company blames falling sales and tough online competition, with most closures hitting city and mall locations where fewer people are shopping in person.
The CEO says this move is part of a bigger plan to boost online sales and give shoppers more modern options. The company will spend $500 million on new shipping centers, better websites, and faster delivery for customers.
This change means layoffs for many office workers and more robots working in warehouses. Experts say these steps are meant to save money and keep the business alive as shopping habits change fast.
Investors liked the news — company stock jumped 7% after hours. Some experts warn this is just the start: old-school retailers must adapt or risk going out of business as online shopping takes over.
BUSINESS INSIDER Layoffs Spark Fear and Fury Across Newsroom
— Business Insider just slashed 21% of its staff, hitting every department. CEO Barbara Peng called it a “long-term transformation strategy.” The company is moving away from its Commerce team, which used to bring in big money.
The Commerce section, famous for shopping tips and affiliate deals, was hit the hardest. Many former workers blasted the layoffs online. They said the team was destroyed and freelance jobs vanished overnight.
Now, Business Insider says it will focus on AI and “innovation-driven” reporting. The union and ex-employees aren’t buying it — they’re worried about what comes next.
This is a huge shift for one of America’s biggest business news sites. More changes could be on the way as this story unfolds.
SALESFORCE’S SHOCKING AI Gamble: American Jobs on the Line
— Salesforce, run by left-leaning CEO Marc Benioff, is cutting back on hiring as artificial intelligence takes over more work. The company’s finance chief said new AI tools mean they need fewer workers, especially in customer service and software jobs. This year alone, 500 customer service staff will be moved to other positions, saving Salesforce $50 million.
AI is now starting to replace software engineers at Salesforce and other tech giants too. Microsoft and Google leaders admit that AI creates up to 30% of new code in some projects. That means fewer jobs for American engineers.
Even with these changes, Salesforce says it will grow its sales team by 22% this year. The company has about 76,500 employees but is shifting focus toward roles that support its growing use of artificial intelligence.
This trend shows Big Tech isn’t just using AI for innovation — they’re also using it to cut costs and reshape their workforce. Sadly, that often means fewer good-paying jobs for Americans.
HHS LAYOFFS Shock Nation: 10,000 Jobs at Risk
— The U.S. Department of Health and Human Services (HHS) is undergoing a major shake-up, leading to layoff notices for up to 10,000 workers. Senator Bill Cassidy wants Health Secretary Robert F. Kennedy Jr. to explain the changes next week. HHS hasn’t shared many details about the mass firings that started Tuesday but did release some information on Thursday.
Meanwhile, Democratic attorneys general and governors from 23 states and Washington, DC, are suing HHS and Secretary Kennedy over a $12 billion cut in public health funding. They claim this reduction is illegal and harmful during ongoing health crises like the opioid epidemic and mental health care issues. New York Attorney General Letitia James warned these cuts could undo progress in vital healthcare areas.
These events put more pressure on HHS’s actions under Secretary Kennedy’s leadership, affecting public health systems nationwide. The upcoming Senate hearing will likely reveal more about these controversial decisions impacting thousands of jobs and billions in funding across states.;
HSBC’S BOLD Move: 40 Dealmakers CUT in Hong Kong
— HSBC has laid off 40 investment bankers in Hong Kong. This is part of a global restructuring plan to cut costs. The layoffs hit several divisions, including technology, media, telecommunications, and financial institutions. HSBC aims to streamline operations worldwide with this bold move.
GOLD SHINES: Prices RISE Despite STRONG Dollar
Gold prices are climbing even as the dollar gains strength. Investors flock to gold as a safe haven during economic uncertainty over tariffs and interest rates. This highlights gold’s lasting appeal in volatile markets.
MILEI FIGHTS BACK: Denies WRONGDOING in Crypto SCANDAL
Argentine President Javier Milei denies any wrongdoing in a cryptocurrency scandal threatening his political career. Facing lawsuits and impeachment calls, Milei defends himself amid growing scrutiny. The controversy adds pressure on his administration during tough economic times for Argentina.
Heartland Bank reports a $50 million loss from bad loans but insists its overall financial health is stable. Despite this setback, the bank plans to issue a half-year dividend as expected, reassuring investors of its resilience.
TRUMP’S SHOCKING DHS Shakeup: Over 400 Jobs CUT
— On February 15, 2025, former President Donald TRUMP announced a major overhaul of the Department of Homeland Security (DHS). This move led to over 400 employees losing their jobs. Trump’s goal is to boost efficiency within the department.
The announcement comes amid ongoing debates about national security and immigration policies. Trump’s decision has ignited discussions on its impact on DHS operations. Many are questioning how these changes will affect public safety and staff morale.
UPS STOCKS Plummet: Amazon Partnership Slashed, Investors Shocked
— United Parcel Service Inc. (UPS) shares have dropped sharply after announcing a major cut in its business dealings with Amazon.com Inc. UPS plans to reduce its low-margin Amazon business by half, surprising analysts and impacting the company’s revenue projections. Daniel Imbro from Stephens Inc. noted the unexpected nature of this rapid shift in strategy.
The company has projected $89 billion in revenue for 2025, falling short of analysts’ expectations of $94.9 billion, following a reported $91.1 billion for 2024. UPS is focusing on higher-margin sectors like healthcare, aiming for $20 billion in revenue from this segment by 2026 as it raises prices and implements surcharges to offset losses from Amazon’s reduced contribution.
Amazon accounted for 11.8% of UPS’s revenue last year, making the decision to slash this partnership significant amid weak demand recovery for parcel services this year. This strategic pivot highlights UPS’s efforts to stabilize its financial outlook by prioritizing more profitable ventures over volume-driven partnerships with lower margins like Amazon’s delivery services.;
— US dockworkers threaten STRIKE over automation concerns Unions representing thousands of dockworkers warn that increased automation could displace jobs, raising fears of cargo shipment disruptions and potential inflation impacts
— US Dockworkers Threaten Strike Over Automation Concerns Union leaders warn that increasing automation could lead to job losses, risking major disruptions in shipping and supply chains nationwide
— Meta Cuts EU Facebook and Instagram Subscription Fees by 40% The tech giant has announced a significant reduction in subscription costs for its platforms across Europe
— Fed Officials Split on Potential Half-Point Rate Cut in September Minutes reveal a division among Federal Reserve officials regarding a possible half-point interest rate reduction this month
— Fed Officials Split on September Rate Cut Decision Minutes reveal a division among Federal Reserve officials regarding a potential half-point interest rate cut in September
MASSIVE BLOW: Tata Steel Shutters Wales Plant, 2,800 Jobs Vanish Overnight
— Indian steel titan, Tata Steel, has revealed plans to close both blast furnaces at its Port Talbot plant in Wales. This drastic move will result in the loss of 2,800 jobs and is part of a broader strategy to streamline their unprofitable UK operation and make it more eco-friendly.
The company intends to transition from coal-fired blast furnaces to an electric arc furnace. This modern method emits less carbon and requires fewer workers. The British government backs this shift with a hefty £500 million ($634 million) investment. Tata Steel is confident that this transition will “turn around over a decade of losses” and foster a greener steel industry.
This decision strikes a severe blow to Port Talbot — a town heavily dependent on the steel industry since the early 20th century. Unions had suggested keeping one blast furnace operational while constructing the electric one as an attempt to mitigate job cuts — a proposal that Tata dismissed.
Both blast furnaces are slated for closure within this year. Meanwhile, plans for installing the new electric furnace are set for completion by 2027.
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