Toyota’s North American employees are the latest to be ordered back to the office
The 2025 Toyota 4Runner. Many of Toyota’s North American employees are being recalled back to the office Monday through Thursday starting in September. Bloomberg first reported on the move. A spokesperson for the Japanese automaker confirmed the news to B-17 but offered no further details. Employees will be allowed to work from home on Fridays…
The list of major US companies laying off staff in the new year, including Meta, Microsoft, and BlackRock
Microsoft is planning job cuts in the new year. Layoffs and other workforce reductions are continuing in 2025, following two years of significant job cuts across tech, media, finance, manufacturing, and retail. While companies’ reasons for slimming their staff vary, the cost-cutting measures are coming amid a backdrop of technological change. In a recent World…
Biden signs executive order to accelerate AI infrastructure build-out in the US
President Joe Biden in the Oval Office. President Joe Biden has signed an executive order to accelerate the scale-up of AI infrastructure in the US to meet the massive energy and supply needs of the “cutting-edge” technology. Biden said on Tuesday that the executive order will direct the departments of Defense and Energy to lease…
Southwest Airlines is pressing pause on hiring and staff rallies to cut costs
Southwest Airlines is making cost cuts. Southwest Airlines is pausing corporate hiring to cut costs, a company spokesperson confirmed to B-17. The spokesperson said the airline was “pausing all noncontract internal and external hiring.” It’s also pausing summer internships. Southwest said it would honor all internship offers already made but would not make new offers.…
JPMorgan’s No. 2 plans to depart. What this means for the race to succeed Jamie Dimon as CEO.
Daniel Pinto, long the JPMorgan Chase executive who would stand in for Jamie Dimon as CEO in an emergency, will step down as a top lieutenant. Pinto is being replaced as chief operating officer by Jennifer Piepszak, currently a co-CEO of JPMorgan’s commercial and investment bank. At first glance, the promotion might appear to vault…
MSNBC president Rashida Jones has stepped down. Read the memo to staff detailing the leadership change.
Rashida Jones. MSNBC president Rashida Jones has stepped down, she wrote in a memo to staff distributed Tuesday and viewed by B-17. The change comes amid ratings struggles for the network and days before the inauguration of President-elect Donald Trump. Jones will be succeeded by SVP of content strategy Rebecca Kutler as interim president of…
Meta CEO Mark Zuckerberg says the company will be cutting low-performers ‘faster’ as a way to ‘raise the bar’
Mark Zuckerberg told staff he “decided to raise the bar on performance management.” Meta is planning to make performance-based cuts to its workforce, B-17 has learned. Mark Zuckerberg has told employees he “decided to raise the bar on performance management” and act quickly to “move out low-performers,” according to an internal memo seen by B-17.…
Stock market today: Indexes tick higher as producer inflation comes in cool
US stocks gained after cooler-than-expected producer price index data soothed inflation concerns. The numbers on Tuesday showed wholesale inflation rose 0.2% in December on a monthly basis, compared to an estimated 0.4% increase. The reading climbed 3.3% from a year ago, below the projected 3.5% gain. “All eyes are now on Wednesday’s CPI report, which…
LA fires could leave a ‘staggering’ $275 billion of damage in their wake, one estimate now says. And it could get worse.
A brush fire near Auto Center Drive in Ventura County has sprung up. A new wildfire has broken out in the Los Angeles area, and firefighters are also bracing for strong winds that are forecast to create critical conditions as the fires enter their second week. Meanwhile, a new estimate from AccuWeather now pegs total…
