Amazon is cutting jobs in its Books business, according to an internal email viewed by Business Insider on Thursday. "Today, we are taking the very difficult step of eliminating some roles on your team," a senior Amazon manager wrote in the email. "Unfortunately, your role has been eliminated. This decision was not made lightly, and Books leadership and the HR team are here to support you through this transition."The email stated employees will receive full pay and benefits for the next 60 days, or 90 days ...

Tim Sweeney won, and he's out celebrating. After a five-year battle with Apple, Sweeney, the CEO of Epic Games, won a massive victory in court last month. Apple must tear down its proverbial walled garden and allow for more competition and payment methods on its App Store. It will no longer be able to take a 27% fee from US developers who direct users to make purchases externally. And that means that Epic's popular game, Fortnite, is coming back to iOS."Apple's stay is denied by the 9th Circuit Court. The ...

Core Insights - Procter & Gamble plans to cut up to 7,000 office jobs, representing 15% of its non-manufacturing workforce, over the next two years [1][4] - The job cuts are part of a strategy to enhance growth and value creation amid increasing competition and economic uncertainty [2][5] - The company aims to improve its market position by better serving unserved and underserved consumers and expanding into new segments [2][3] Company Strategy - The job reductions are described as an "intentional acceleration" of the current strategy to enhance P&G's competitive advantage through productivity improvements [3] - P&G intends to exit certain categories, brands, and product forms in specific markets, with more details to be disclosed in the coming months [3][4] - The company emphasizes its commitment to delivering balanced growth and value creation for consumers, customers, employees, society, and shareholders [4]

Does David Zaslav deserve a $51.9 million payday? With Warner Bros. Discovery facing falling revenue, stalling earnings, and a 60% stock decline in the last three years, shareholders don't think so.This week, they resoundingly rejected the proposed pay package for Zaslav, the company's CEO, which would give him a 4% raise. Nearly 60% of shareholders' non-binding votes were against this hefty package, which is an unusually high mark. (Zaslav's stock-heavy compensation package is largely tied to boosting cas ...

Core Viewpoint - Dollar Tree's shift from a single $1 price point to a multi-price model is providing the retailer with a competitive advantage in managing tariff-related costs, which are expected to impact earnings significantly in the short term [1][2][5]. Financial Impact - Dollar Tree anticipates an additional $70 million in tariff-related costs for the second quarter, which could lead to a 45% to 50% decrease in earnings per share [1][2]. - Despite the short-term impact, the company expects earnings growth to improve in the last two quarters of its fiscal year [2]. Pricing Strategy - The company has moved away from the $1 price point to include higher-priced items, with some products priced between $3 and $7.25, allowing for greater flexibility in product offerings [2][4]. - CEO Michael Creedon emphasized that the company does not plan to raise prices across the board in response to tariffs, indicating a strategic approach to cost management [3]. Competitive Positioning - The multi-price model allows Dollar Tree to mitigate the impact of tariffs more effectively compared to competitors like Dollar General, which still sells many items at or below $1 [5][6]. - Analysts suggest that the multi-price strategy will yield further gains for Dollar Tree throughout the year, enhancing its product range and customer appeal [6].

Airbus shares rose more than 3% on Wednesday after a report that Chinese airlines are considering ordering hundreds of planes from the European firm. Bloomberg reported that a deal could involve between 200 and 500 narrow-body and wide-body aircraft.The order could be placed as soon as next month when European leaders visit Beijing, but the negotiations may take longer or fall apart. Airbus declined to comment on Bloomberg's report when contacted by Business Insider.The report comes as tensions have risen ...

United Airlines flight attendants are set for big pay increases under the terms of a tentative agreement. The United branch of the Association of Flight Attendants-CWA reached a tentative deal with the airline on May 23. The first details of the deal were published on Tuesday.It states that cabin crew members would receive pay increases up to 45.6% over the contract's five-year timeframe. The immediate raise would be as much as 27.8%, meaning a rise in hourly pay for those in their first year from $28.88 ...

Core Insights - Dollar General reported a strong revenue growth of 5.3% in the first quarter, with comparable sales increasing by 2.4% year-over-year, indicating robust performance despite previous strong numbers [1] - The growth is attributed to delivery initiatives, including a partnership with DoorDash, which has attracted a new and diverse customer base, particularly higher-income shoppers [1][2] - The company has seen an increase in store visits, with a 1.9% year-over-year rise in first-quarter visits and a 6.5% increase in April visits, suggesting improved customer engagement [3] Delivery and Customer Trends - The partnership with DoorDash has been described as "phenomenal," facilitating higher-income shoppers' access to Dollar General without needing to visit the store physically [2] - Customers are increasingly opting for Dollar General over more expensive retailers, a trend that has continued into the second quarter [3] Store Experience and Product Offering - Dollar General has invested in store renovations to enhance the shopping experience, which has positively impacted sales [3] - The retailer maintains a broad assortment of items priced at $1 or less, with over 2,000 such items available, appealing to budget-conscious consumers [4] - The company has utilized partnerships with suppliers to offer smaller package sizes, a strategy referred to as shrinkflation, to keep prices low [4] Consumer Behavior - The current economic cycle has led consumers to seek affordable luxuries and name-brand products, which Dollar General is positioned to provide at accessible price points [5] - The combination of convenient delivery options and low price points is helping Dollar General attract a new cohort of shoppers amid rising economic pressures on U.S. households [5]

Core Insights - Disney is laying off several hundred employees globally, primarily affecting the marketing teams in the Disney Entertainment division due to a declining traditional TV audience [1] - The layoffs also include a smaller number of positions in publicity, casting, development, and corporate finance, with no entire teams being eliminated [1] - The company has previously reduced headcount as TV audiences shift to streaming platforms, with significant cuts occurring in recent years [2] Employment Reductions - In March, Disney cut nearly 6% of its workforce, approximately 200 people, in its ABC News Group and Disney Entertainment Networks [2] - Last fall, around 300 employees were laid off in corporate departments, following a previous layoff of about 140 people, including those at National Geographic and Freeform [2] Strategic Direction - Bob Iger, upon returning as CEO in late 2022, indicated plans for broad cuts, aiming to reduce 7,000 jobs in 2023 [3] - Disney has achieved profitability in its streaming business for the first time last year and is seeking growth in its parks and experiences segment, including a new theme park partnership in Abu Dhabi [3]

Core Viewpoint - United Airlines CEO Scott Kirby criticized the low-cost carrier model, labeling it as "dead" and stating that it was designed to "screw the customer" [1][2] Group 1: Critique of Budget Airlines - Kirby described the budget airline model as one that tricks customers into purchasing tickets and then imposes unexpected fees, with disclosures hidden in legal jargon [2] - He noted that budget airlines have struggled to retain repeat customers as they grew larger [2] Group 2: United Airlines and JetBlue Partnership - United Airlines announced a new partnership with JetBlue, named Blue Sky, which will provide access to slots for up to seven daily round-trip flights from JFK's Terminal 6 starting in 2027, pending regulatory review [3] - The partnership will enable customers to earn and use frequent flyer miles across both airlines, distinguishing JetBlue from traditional budget carriers [3][4] Group 3: Future Focus and Capacity Adjustments - Kirby emphasized that United Airlines is focusing on enhancing its presence for frequent flyers, particularly in markets like Boston [5] - Despite outperforming many competitors in 2024, United plans to cut about 4% of its domestic capacity starting in July due to softening demand, influenced by external factors such as tariffs affecting international travelers [5][6] Group 4: Market Outlook - The company's outlook is heavily influenced by the macroeconomic environment, which it finds difficult to predict with confidence this year [6]