No matter how much profit and revenue growth ServiceNow generates, Wall Street has been too worried about the threat of AI to notice or care. Bill McDermott has had enough. The ServiceNow CEO is so sure AI won't eat software that he's betting more on his own stock and committing to stay on as the company's leader through 2030."We're building a trillion-dollar company here," McDermott told Business Insider in an interview on Wednesday. The company, which sells software to businesses, once again reported qu ...

The first Federal Reserve meeting of 2026 is in the books, and Chair Jerome Powell stayed tight-lipped on the central bank's biggest controversies. From the job market to political tensions, here are Business Insider's biggest takeaways from the January call to hold rates steady.Economic optimismThe Fed appeared more optimistic about the economic picture on Wednesday. While recent Fed press releases after interest rate decisions included a warning of "downside risks to the labor market," that comment was r ...

Home Depot laid off about 800 corporate employees on Wednesday — and called those who still have jobs back to its offices. The layoffs affected positions at the home improvement chain's store support center near Atlanta, a company spokesperson told Business Insider."We're simplifying our corporate operations to better support our stores and our customers," the spokesperson said. "Our goal is to drive greater agility and position the company to move faster and stay even more closely connected with our front ...

Internal memos from Amazon executives explained the company's decision to lay off 16,000 corporate workers as necessary to become the "world's largest startup," according to the messages viewed by Business Insider. "Our ambition is to be the world's largest startup," Amazon executives wrote in two such memos viewed by Business Insider. "That means doubling down on a culture of ownership, speed, and experimentation — which requires us to continue evolving how we're structured."The "world's largest startup" ...

Paramount+ could soon look more like TikTok. Paramount Skydance is planning to add a heavy dose of short-form video to its flagship streaming service, according to internal presentations and emails viewed by Business Insider.Dan Reich, the head of global product and design for Paramount+, emailed fellow executives in mid-January, asking to set up a meeting with Paramount product chief Dane Glasgow to discuss "Short Form Clips." "We are trying to figure out how to jump-start efforts to get a million clips ...

American Airlines is scrambling to get things back on track after this weekend's winter storm. It canceled over 400 flights on Wednesday, or about 15% of its schedule, as of 6 a.m. ET, according to data from FlightAware. Competitors like United and Delta had canceled fewer than a dozen."Flight attendants are bearing the brunt of the company's inability to recover the operation in the aftermath of Winter Storm Fern," the Association of Professional Flight Attendants, the union for American Airlines cabin cr ...

Core Insights - Amazon is implementing a second round of layoffs, cutting 16,000 corporate roles as part of a strategy to enhance operational efficiency amid advancements in AI [1] - This follows a previous layoff of 14,000 roles in October, indicating a significant restructuring effort within the company [1] Employee Support and Benefits - Affected employees will receive full pay and benefits for 90 days, along with an additional severance package, and are not required to perform any work during this period [2][4] - Employees can apply for internal roles during the 90-day notification period [9] - The severance package details will be provided within 24 hours of the layoff notification, and employees must sign a severance and release agreement to receive it [5] Benefits Coverage - Medical, vision, dental, and other benefits will generally continue until the last day of the month in which employment ends, with specific policies for part-time or seasonal employees [6] Personal Belongings and Equipment Return - Employees can retrieve personal belongings through a survey, with items expected to be returned within two weeks, but potentially taking up to 30 days [7] - Instructions for returning company equipment, such as laptops and access cards, will be provided after the separation date [8] Career Transition Support - Outplacement support from Lee Hecht Harrison (LHH) will be available, offering career coaching, resume writing, interview preparation, and job leads [9]

Amazon on Wednesday said it's cutting 16,000 corporate roles, the company's second round of layoffs in four months. Employees in the US, UK, and India have been receiving notifications about the cuts, according to internal Slack posts viewed by Business Insider.The messages suggest impacted teams include those within the company's Amazon Web Services cloud unit, such as the AI cloud service Bedrock, the cloud data warehouse service Redshift, and the ProServe consulting team, as well as retail business team ...

Core Viewpoint - Tesla is facing mixed outlooks from Wall Street as it prepares for its upcoming earnings report, with concerns over vehicle sales and the development of its AI initiatives [1] Group 1: Vehicle Sales - Analysts indicate that Tesla's vehicle sales are currently stagnant, presenting challenges for the company [1] - There is uncertainty regarding the demand for electric vehicles (EVs), which could impact Tesla's sales performance [1] Group 2: AI Projects - The timelines for Tesla's major AI projects remain unclear, adding to the uncertainty surrounding the company's future growth prospects [1] - Analysts are cautious about the potential impact of these AI developments on Tesla's overall performance [1]

Core Insights - Starbucks reported a Q1 earnings win, with a 4% global same-store sales growth, attributed to higher ticket sizes and transactions, marking the first comparable transaction growth in the US in eight quarters [1][2] Group 1: Sales Performance - North America and US comparable store sales increased by 4%, while international comparable store sales rose by 5%, with Chinese sales up by 7% following the announcement of a 60% stake sale in its China business to Boyu Capital [2] - The stock of Starbucks rose more than 7% in premarket trading following the earnings report [2] Group 2: Management Commentary - CEO Brian Niccol indicated that the Q1 report reflects growing momentum in the "Back to Starbucks" revitalization effort [3] - Niccol expressed excitement about the turnaround plan, emphasizing that top-line growth is being achieved through increased transactions, with clear plans to convert this growth into margin and earnings growth [4]