The executive board of SAP, Europe’s most valuable software company, is facing declining employee trust following recent job cuts and organizational restructuring, underscoring growing concerns about its senior leadership https://t.co/hhNl8k1STS ...

Sir Jim Ratcliffe launched Ineos Automotive after the Land Rover Defender went out of production - Hollie Adams/Bloomberg Sir Jim Ratcliffe is to axe hundreds of jobs at his 4x4 car venture amid tumbling UK sales and pressure on the tycoon’s wider Ineos industrials empire. Ineos Automotive on Thursday said it was taking “strategic measures to structure its business for long-term success” including a reorganisation that will see the head office dramatically slimmed down. The company said this would resul ...

(Reuters) -Synopsys will lay off about 10% of its workforce, or roughly 2,000 employees, ​as the chip-design software maker looks to redirect investment towards ‌growth opportunities, according to a regulatory filing on Wednesday. The move comes after the company completed ‌its $35 billion cash-and-stock acquisition of engineering design firm Ansys earlier this year and missed analysts' estimates for third-quarter revenue in September. Synopsys said it expects to incur pretax charges to its financial res ...

Economic Overview - The U.S. Labor Department will not publish its economic report for the second consecutive month due to the ongoing government shutdown, which is now the longest on record [1] - The lack of official employment data makes it difficult to assess the jobs market, and anecdotal evidence does not inspire confidence [1] Layoff Announcements - Major employers such as Amazon, UPS, and Target have announced plans to lay off tens of thousands of workers in the coming weeks [2] - Target plans to eliminate 1,800 corporate jobs, marking its second-largest corporate downsizing [6] - Amazon is set to lay off 14,000 corporate employees across multiple departments to reduce bureaucracy [6] - UPS has cut about 48,000 jobs this year, including 34,000 positions through its efficiency program [6] Job Market Metrics - U.S. companies announced the fewest number of new jobs since 2011, with 153,074 job cuts in October, nearly triple the 55,597 cuts from the same month last year [4] - Job losses in October are up 183% from September, indicating a significant downturn in the job market [4] Year-to-Date Job Cuts - Through October, employers have announced 1.1 million job cuts, a 65% year-over-year increase from 665,000 cuts through October last year [10] - Job cuts in 2025 are on track to be the worst since 2020, with 44% more jobs cut through October than in all of 2024 [10] Contributing Factors - Reasons for the job cuts include correcting headcount after overhiring during the COVID-19 pandemic, softening consumer and corporate spending, and rising costs due to hiring freezes [7] - The adoption of AI is also mentioned as a factor influencing job market dynamics [8] Impact on Job Seekers - The current wave of layoffs is creating a snowball effect, making it harder for those laid off to secure new roles, which could further loosen the labor market [9]

Market Overview - The week experienced significant market fluctuations, with major indices pushed into the red due to debates over data centers and excessive tech stock valuations [1] - The S&P 500 declined by 1.6%, the Nasdaq Composite fell by 3%, the Dow Jones Industrial Average decreased by 1.2%, and the Russell 2000 was down by 1.9% over the week [7] Gold and Volatility - Gold prices soared, closing above $4000, contributing to a modest gain of 0.3% for the week [2] - The Vix CBOE Volatility Index closed at 19, indicating a 9% increase this week, suggesting relative calm despite market volatility [2] Housing Market Insights - The housing market showed mixed signals, with a decline in house sales but an increase in median prices in 77% of metro areas [3] - Economic uncertainty is leading to a shift in population and jobs towards the southern regions of the U.S., despite rising job cuts [4] Labor Market Trends - Job cuts in the U.S. reached 153,074 in October, marking a 175% increase from the previous year and a 183% increase from the month prior [4] - Major companies such as Amazon, UPS, General Motors, and Target have conducted layoffs, reflecting a broader trend in the labor market [5] Airline Industry Adjustments - Airlines are cutting flights by 10% at 40 airports to manage reduced personnel and alleviate pressure on air traffic controllers [6]

The major U.S. index futures are currently pointing to a modestly higher open on Thursday, with stocks poised to add to the gains posted in yesterday's session.Some traders may continue to look to pick up stocks at relatively reduced levels even after Wednesday's advance, as the major averages remain well off last week's record highs.While concerns about an artificial intelligence bubble and the possibility of a near-term correction continue to weigh on investors' minds, the momentum for the currently stil ...

Normally out at 7:30, Challenger released these early because why not start everybody's day off in a bad mood here. Hundred and 53,074 job cuts announced for October the highest since 2003 for the month and it's a 183% increase from September hundred 75% over the last year. For 2025, we're up 65% in terms of job cuts over 2024.It's the most year to date cuts since COVID in June excuse me, 2020, which of course screws up all the graphs. But the monthly cuts are extremely high, and a high is one of the main r ...

American Airlines Group Inc. is laying off hundreds of corporate employees after reporting a third-quarter loss, Bloomberg reported, citing a person familiar with the matter.The cuts will primarily affect mid-management and support staff based at the airline’s headquarters in Fort Worth, Texas, and are set to begin this week.“We’re making a small reduction to our management and support staff team to right-size for the work we do today,” an American Airlines spokesperson said in a statement. “The positions a ...

Joining us now, MSNBC congressional reporter Michael Schnell and Semaphore White House correspondent Shel Shelby Talet. Um, all right, Michael. Uh, ninth time not going to prove to be a charm. So, what's next? >> Yeah, Katie, don't expect any surprises uh later this afternoon when we get that final vote tally from that Senate vote. Um, the vote is underway right now. We're still waiting for the final result, but I think that we can all basically predict it right now. That measure, that government funding bi ...

Market Overview - The stock market has experienced a sharp rally, which contrasts with the underlying macroeconomic conditions [1] - Consumers are expressing concerns regarding inflation and potential job cuts [1] - The Federal Reserve is preparing to cut interest rates [1] Analyst Background - Gary Alexander has extensive experience in covering technology companies on Wall Street and working in Silicon Valley [1] - He has served as an adviser to several seed-round startups and has been a contributor on Seeking Alpha since 2017 [1] - His insights are frequently quoted in various web publications and his articles are syndicated to popular trading apps like Robinhood [1]