The financial news that actually matters
Covers company layoffs, job cuts, business closures, and restructuring events. It explains how these changes affect employees, industries, and local economies.
Artificial intelligence has moved from a talking point to a line on layoff notices. Through the first half of 2026, U.S. employers pointed to AI as the reason for tens of thousands of announced job cuts, and the pace has held for months. For workers in their late 50s and early 60s, a job loss…
The steady drumbeat of shuttered storefronts is not slowing down in 2026. Major retail chains across the country have announced plans to close more than 2,000 locations this year, and the broader industry count runs far higher when smaller retailers are added in. Pharmacies and grocery stores are leading the retreat, the two categories that…
The biggest boating and marine-supply retailer in the country is shutting a large share of its stores after an effort to sell the business off the auction block failed to attract a single qualified buyer. West Marine, which sells everything from safety gear and fishing tackle to electronics and boat maintenance supplies, confirmed it will…
One of the country’s biggest wine and spirits distributors has collapsed into bankruptcy, and this time there is no turnaround plan waiting in the wings. Republic National Distributing Company, long the second-largest alcohol distributor in the United States, filed for Chapter 11 protection on July 26 and told the court it intends to wind down…
A fresh wave of layoffs is landing hardest on the workers with the least time to bounce back. U.S. employers announced tens of thousands of job cuts in July, a sharp jump from the same month a year earlier, and older employees are among the most exposed. For a worker in their late 50s or…
Only about two-thirds of long-tenured workers displaced between 2021 and 2023 had found new employment by January 2024, and older workers accounted for a disproportionate share of those who left the labor force entirely rather than landing a new role. As companies accelerate the adoption of AI-driven tools, the workers closest to retirement face the…
More than 200,000 U.S. workers have lost their jobs so far in 2026, and a growing number of employers are pointing directly at artificial intelligence as the reason. Oracle, one of the largest enterprise technology companies in the world, told regulators in its latest annual filing that AI adoption across its operations has already cut…
Tens of thousands of Volkswagen workers in Germany face an uncertain future after the automaker’s leadership clashed over the scale and method of its biggest workforce reduction in decades. Internal discussions have put figures as high as 100,000 job cuts on the table alongside the possible closure of four German factories, according to two people…
West Marine, the national boating supply retailer, is shutting down 59 stores while its Chapter 11 bankruptcy case moves through the U.S. Bankruptcy Court for the District of Delaware. The closures target underperforming locations as the company works to cut debt and shrink its physical retail footprint. For thousands of recreational boaters who depend on…
Kroger plans to close approximately 60 stores over the next 18 months, a decision that triggered $100 million in pre-tax closure costs during the first quarter of fiscal 2025. The grocery chain disclosed the charges in a quarterly filing with the U.S. Securities and Exchange Commission, and repeated the same figures in two subsequent regulatory…