Amazon has agreed to pay $3.95 million to settle a lawsuit in which it was accused of subsidizing its labor costs by stealing the tips its drivers received to cover part of the employees’ base wages, D.C. Attorney General Brian L. Schwalb announced Friday. According to Schwalb, Amazon misled consumers in Washington, D.C., between 2016 and 2019 by assuring them that all the tips they provided would go to Amazon’s Flex drivers, employees who deliver packages with their own cars. Schwalb’s office alleged that ...

McDonald’s suffered its worst US sales loss since the pandemic during its most recent quarter as demand took a hit from a widespread E.coli outbreak while inflation-battered diners remained watchful of their spending.Comparable sales in the US, the fast-food giant’s biggest market, fell 1.4% in the fourth quarter, its steepest drop in almost five years, when restaurants limited operations to drive-thru and delivery because of the pandemic.The steeper-than-expected loss topped an estimated 0.4% decline, acco ...

Boeing on Saturday warned employees involved in its Space Launch System moon rocket program that it expected to lay off around 400 people.The news comes amid delays and rising costs for NASA’s Artemis program, which was established during President Trump’s first term, and aims to send astronauts back to the moon. Its budget is expected to be around $93 billion through the end of the year. It also comes as the new Trump administration has started to lay off government employees from some institutions, althou ...

Meta boss Mark Zuckerberg will reportedly begin slashing staff on Monday — and the company posted an internal memo telling workers what to expect ahead of the performance-based job cuts.The Facebook parent — which plans to chop 5% of its workforce — will notify Impacted employees via their work and personal emails, according to a post on Meta’s internal Workplace forum obtained by Business Insider.The emails will contain information about their severance packages before will lose access to company systems w ...

Amazon shares dropped 4% on Friday after CEO Andy Jassy warned the company could face capacity constraints in its cloud computing unit — despite plans to spend $100 billion on capital expenditures this year.“It is true we could be growing faster were it not for some of the constraints on capacity,” Jassy said during an earnings call with investors on Thursday.In particular, he mentioned delays in getting hardware and not having enough electricity, according to a Bloomberg report.In October, Jassy had predic ...

Core Points - Accenture has decided to eliminate its diversity, equity, and inclusion (DEI) goals, following pressure from conservative groups and recent political changes in the United States [1][4][5] - The company will also discontinue its career development programs aimed at specific demographic groups, as stated in an internal memo from CEO Julie Sweet [2][8] - DEI policies will no longer be utilized to assess employee performance, reflecting a shift in the company's internal policies and compliance with new executive orders [3][4] Company Actions - Accenture will begin "sunsetting" its 2017 diversity goals, indicating a significant policy shift [1][3] - The company will cease submitting data to external diversity surveys, further distancing itself from previous DEI commitments [7] - Accenture plans to evaluate its external partnerships related to diversity as part of a broader refresh of its talent strategy [9] Workforce Composition - As per the latest annual report, women make up 48% of Accenture's workforce and hold 30% of managing director roles, aligning with the company's previous diversity goals [10]

Amazon posted sales in last year’s final quarter that topped Wall Street estimates on Thursday, as a strong holiday shopping season boosted its retail business, but investors drove shares down due to weakness in the cloud computing unit.Amazon’s shares fell 3.5% in extended trade after the report, erasing about $90 billion worth of stock market value.The company’s cloud unit, Amazon Web Services (AWS), reported a 19% rise in revenue to $28.79 billion, falling short of estimates of $28.87 billion, according ...

Google employees are reportedly up in arms over management’s decision to walk back a promise not to use artificial intelligence technology to develop weaponry and surveillance tools.The search giant’s decision to revise its AI ethical guidelines, announced on Tuesday, marks a significant departure from the company’s earlier commitment to abstain from AI applications that could cause harm or be used for military purposes. 4 Google employees are reportedly upset over the company’s decision to retract a prom ...

Target was hit with a class-action lawsuit on Friday after shareholders alleged the national retailer misled investors about the risks of its DEI initiatives, which led to consumer boycotts and its stock price to tank.The class action suit, led by the City of Riviera Beach Police Pension Fund, alleges that Target misused investor funds for “political and social goals,” and duped investors into buying stock at “artificially inflated prices.” The suit claims that Target made fraudulent public statements regar ...

Core Insights - Temu is shifting its strategy to promote "local" products stored in US warehouses following the revocation of a trade loophole that previously allowed it to avoid taxes and customs duties [1][3][4] - The company aims to reduce its reliance on Chinese merchants and compete more effectively with US rivals like Amazon, eBay, and Walmart [7][10] Group 1: Strategic Shift - Temu is emphasizing products with a green "local" badge, indicating they are sourced from US warehouses, with prices starting as low as $1.99 [1][2] - The company has ramped up its promotion of sellers with US inventory to mitigate the impact of new tariffs and customs regulations [5][8] - By July 2024, approximately 20% of Temu's US sales were generated from sellers with US warehouses, rather than directly from Chinese merchants [10] Group 2: Competitive Landscape - Temu and its competitor Shein have gained significant market share in the US, with exports soaring from $5.3 billion in 2018 to $66 billion in 2023 [9] - Traditional retailers like Amazon have taken notice and launched their own low-price storefronts to compete with fast-fashion sites like Temu and Shein [7][8] - The competitive environment is intensifying as both Temu and Shein adapt their strategies to include US-based sellers and distribution centers [10][12] Group 3: Regulatory Challenges - The elimination of the de minimis exemption and the imposition of a 10% tariff on Chinese goods could lead to increased prices and shipping delays for Temu [3][4] - Recent regulatory actions, including a brief ban on inbound packages from China by the United States Postal Service, add further complexity to Temu's operations [11]