Block's Jack Dorsey Block Inc., the Jack Dorsey-led fintech company behind Cash App, Square and Afterpay, is preparing to cut up to 10% of its staff as part of a broader business overhaul, Bloomberg reported Saturday, citing people familiar with the matter. Block did not immediately respond to a request for comment from (similarly-named, but entirely independent) The Block. The cuts are happening across multiple teams as managers carry out year-end performance evaluations expected to run through late Fe ...

Core Viewpoint - The company is undergoing a significant restructuring that involves a large-scale divestment program aimed at freeing up funds and strengthening its financial position [1] Group 1 - The restructuring is part of a broader strategy to improve the company's financial health [1] - The divestment program is designed to release capital that can be utilized for other strategic initiatives [1] - The overall goal of these efforts is to shore up the company's coffers and enhance its operational efficiency [1]

Mushroom meat alternative Meati, which got a new owner in October, has been evicted from its manufacturing facility in Thorton and had equipment and assets seized over unpaid taxes.Notices on the door of the 115,000-square-foot facility at 14831 Washington St. indicate that the eviction took place weeks ago. Signs also say the company owes $16 million in taxes: $9.2 million to Thornton for sales and use taxes and $6.7 million to Adams County for property taxes.The eviction caps off a tumultuous year for Bou ...

This story was originally published on Food Dive. To receive daily news and insights, subscribe to our free daily Food Dive newsletter. Mondelēz International is appointing current CFO Luca Zaramella to a newly created chief operating officer position, potentially setting up the long-time company executive to one day take over the top role at the Oreo maker. Zaramella will oversee the company’s commercial operations in its four geographical regions as well as the corporate sales, marketing and supply chai ...

It’s been a brutal week when it comes to layoffs. Most Read from Fast Company On Monday, shoe giant Nike announced it would lay off 775 employees, and on Tuesday, Pinterest announced it would lay off around 15% of its workforce. The same day, UPS announced 30,000 job cuts. Now Amazon is also joining their ranks with the announcement today of mass layoffs. Here’s what you need to know. What’s happened? On Wednesday, Amazon announced that it was eliminating 16,000 positions across its workforce. The co ...

Core Insights - Peet's Coffee is set to close multiple cafés in the US by the end of January 2026 as part of a strategic alignment with its long-term growth objectives [1][2] - Approximately 30 out of 183 locations in the Bay Area are expected to be affected by these closures [2] - The closures coincide with Keurig Dr Pepper's $18 billion cash offer to acquire Peet's parent company, JDE Peet's, which aims to create two independent businesses focusing on refreshment beverages and global coffee leadership [3] Group 1 - Peet's Coffee is preparing to shut down several locations in the San Francisco Bay Area [1] - The decision to close cafés is part of a broader initiative to align with long-term growth strategies [1][2] - The spokesperson emphasized the commitment to quality and innovation while navigating these changes [2] Group 2 - Keurig Dr Pepper's acquisition plan includes separating operations into two distinct businesses [3] - One business will focus on the refreshment beverages market, while the other will aim to establish a global coffee presence [3] - The acquisition deal is anticipated to be finalized in the second quarter of this year [3]

Core Viewpoint - Procter & Gamble has provided its new CEO, Shailesh Jejurikar, with a significant performance incentive in the form of stock options to enhance the company's performance amid slowing sales growth [1][9]. Group 1: CEO Compensation and Stake - Jejurikar currently holds a stake worth $14.9 million in the company, which could increase to over $28 million with new stock grants and options [2]. - The new CEO's stock options are currently "underwater," meaning they hold no value until P&G's stock price exceeds $153.18, while it closed at $143.46 on January 12 [4]. - All 27 top executives and board members collectively own less than 0.2% of P&G's outstanding shares, which total more than $330 billion [3]. Group 2: Leadership Background and Strategy - Jejurikar was appointed as the next CEO on July 28, 2022, succeeding Jon Moeller, and has been viewed as a potential leader for some time [6]. - Prior to his CEO appointment, Jejurikar led P&G's Global Fabric and Home Care division, managing iconic brands that account for a third of the company's sales and profit [7]. - Under Jejurikar's leadership, P&G plans to boost sales by investing in product improvements while cutting jobs, having announced a reduction of 7,000 office positions amid slowing sales [9]. Group 3: Compensation Structure - Jejurikar's annual salary is set at $1.6 million, with potential additional incentive pay of up to $3.2 million, alongside a long-term incentive award valued at $14 million [8].

Group 1 - Citigroup plans to cut approximately 1,000 jobs this week as part of a broader strategy to reduce its workforce by 20,000 by the end of 2024 [1][3] - As of December 31, 2024, Citigroup had around 229,000 full-time employees [1] - The bank aims to continue reducing its headcount into 2026, indicating ongoing adjustments to align staffing with business needs [3] Group 2 - CEO Jane Fraser, who has been leading the company since 2021, is implementing changes to close the performance gap with competitors [4][7] - A plan presented in late 2023 focuses on increasing earnings, streamlining operations, and improving data governance and risk management [4] - Recent organizational changes have led to significant departures in the wealth and technology sectors, including the appointment of Gonzalo Luchetti as the new chief finance officer [4] Group 3 - Citigroup's US retail presence is notably smaller than that of its larger competitors, with approximately 650 branches located in six major metropolitan areas [5]

Fund Performance - Artisan Mid Cap Value Fund's Investor Class returned 0.97%, Advisor Class returned 0.98%, and Institutional Class returned 0.97% in Q3 2025, underperforming the Russell Midcap Value Index which returned 6.18% [1] - The equity markets rallied in Q3, driven by strong corporate earnings, rising AI capital expenditures, and expectations of economic support from US fiscal policy and lower interest rates [1] Company Focus: Baxter International Inc. - Baxter International Inc. (NYSE:BAX) had a one-month return of 7.38% but lost 34.25% over the last 52 weeks, closing at $19.50 per share with a market capitalization of $10.024 billion on January 2, 2026 [2] - The healthcare sector, including Baxter, was a significant source of underperformance for the fund, with three of the four biggest detractors coming from this sector [3] Company Challenges and Strategy - Baxter has faced growth challenges post-COVID due to supply-chain issues and delayed normalization of procedure volumes, leading to disappointing performance [3] - The company has undergone a multiyear restructuring, selling non-core operations to become a more profitable growth entity, although this has created confusion among investors [3] - Baxter's stock is currently trading at a single-digit multiple on forward earnings, near its lowest valuation levels, and the company is using free cash flow to pay down debt and return capital to shareholders [3]

Core Insights - Lewis Gersner, former IBM chairman and CEO, passed away at age 83, recognized for transforming IBM's business model towards services and significantly increasing its stock value during his tenure [1][2]. Company Overview - Gersner was the first outsider to lead IBM, taking the role in 1993 after serving as CEO of RJR Nabisco [1]. - Under his leadership, IBM's stock rose over 700%, although the company faced challenges in revenue and was perceived as "legacy tech" in later years [2]. Workforce Changes - In the early 1990s, IBM employed approximately 350,000 people, but this number has since decreased to around 270,000, reflecting significant workforce reductions during Gersner's restructuring efforts [3]. Industry Context - Gersner's strategies in the 1990s are seen as relevant today as large companies navigate technological shifts and productivity challenges, highlighting a historical trend of legacy companies reducing costs and workforce [4].