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Campbell’s cuts 13% of salaried workforce and closes snack plants
Campbell’s said it has cut 13% of its salaried workforce and closed two snack plants in an effort to improve its operations and return to profitability. “Make no mistake, our results remain unacceptable,” CEO Mick Beekhuizen said. “But instead of waiting for…
John Ternus takes over as Apple CEO after Tim Cook’s 15-year run
Apple CEO John Ternus marked his first day in the top job at the tech giant on Tuesday, with the company embarking on a new era after former CEO Tim Cook stepped down from the role after 15 years. Cook, who will remain with Apple as the company’s executive…
Disney offers early retirement to executives ahead of restructuring
Disney is moving forward with a program allowing longtime employees in certain roles the opportunity to accept an early retirement package ahead of anticipated restructuring. The entertainment giant outlined the voluntary early retirement offer (VERO)…
Google Pixel manufacturing set to move out of China by next year: report
Google is reportedly moving forward with shifting all manufacturing of its Pixel devices outside of China starting in 2027. The tech giant has previously made its Pixel phones, watches and earbuds in China – though that’s set to change next year, with Google…
Starbucks lays off 200 corporate workers as part of Brian Niccol’s turnaround plan
Starbucks is laying off over 200 corporate workers as it moves forward with the turnaround strategy that it began two years ago under CEO Brian Niccol. The coffee giant on Thursday published a layoff notice under the WARN Act, clarifying plans to cut over 200…
Hyundai’s Genesis debuts new flagship luxury EV
Hyundai Motor Group’s luxury brand Genesis is launching a new electric SUV with more than 300 miles of estimated range and a cabin packed with technology. The new GV90 is expected to travel about 310 miles on a full charge. Genesis says its battery can charge…
Bally’s issues going concern warning amid mounting liquidity crisis
Casino and resort operator Bally’s issued a warning that it may struggle to keep up with its debt burden over the next year, and there is “substantial doubt” about its ability to remain a going concern. The company made the disclosure in its second quarter…
L3Harris names Sam Mehta as new CEO after Kubasik misconduct finding
L3Harris Technologies said on Monday that CEO Christopher Kubasik stepped down from the role after an investigation by the board of directors found he engaged in misconduct, which led to the company reaching a separation agreement with him and naming his…
Inside Ford’s 3-million-square-foot Louisville plant transformation
Ford Motor Co. is giving its Louisville Assembly Plant a massive makeover as it prepares to build a new electric truck in 2027. The automaker is investing $2 billion to transform the roughly 3-million-square-foot Kentucky factory from gas-powered vehicle…
Crude oil stocks in US SPR fall to over four-decade low
The U.S. government’s Strategic Petroleum Reserve (SPR) is at its lowest level since 1983 as inventories that were already low before the Iran war come under increasing pressure. Data released by the Department of Energy on Monday showed that the number of…