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.
ServiceNow has cut hundreds of positions across California offices, according to state labor filings, as the cloud software company shifts resources toward artificial intelligence. The reductions come after the company’s most recent quarterly financial disclosure attributed rising costs directly to growing headcount, setting up a tension between the staff-heavy spending model that fueled ServiceNow’s expansion…
Nearly 150 workers at Ubisoft offices in San Francisco and Barcelona learned this month that their positions are being eliminated, according to state labor filings and local reporting. The French video game publisher filed formal notices on both sides of the Atlantic within days of each other, cutting 93 permanent jobs in California and launching…
More than 243,000 American workers have received formal layoff warning notices so far in 2026, based on filings logged across state labor department databases. These notices, required by federal law before large-scale job cuts take effect, signal that tens of thousands of positions are set to disappear in the weeks ahead. The count draws from…
Rivian cut hundreds of jobs in its service and customer organization this week, trimming less than 2 percent of its workforce as the electric-vehicle maker works to control costs ahead of the R2 launch and a planned ramp in autonomy spending. The reductions, which also touch sales and marketing roles, took effect Tuesday and come…
Hundreds of BBC journalists face redundancy as the broadcaster’s news division absorbs deeper spending reductions than any other part of the organization. Interim Director General Rhodri Talfan Davies told staff in an internal email that the corporation needs to shed up to 2,000 positions and save roughly 500 million pounds over two years, according to…
Wendy’s plans to shut down between 298 and 358 U.S. restaurants in the first half of 2026, a cut of roughly 5% to 6% of its domestic system, after same-store sales fell across the chain. The company already closed 28 locations in the fourth quarter of 2025, leaving 5,969 U.S. units at year-end. The wave…
UPS plans to eliminate up to 30,000 operational jobs this year and shut down 24 buildings during the first half of 2026, extending a restructuring campaign that already shrank the company’s U.S. workforce by roughly 34,000 positions and closed 85 facilities permanently during the first nine months of 2025. CFO Brian Dykes disclosed the new…
Oracle eliminated roughly 30,000 positions in the first half of calendar 2026, cutting nearly one-fifth of its workforce and carrying out the single largest layoff disclosed by any company this year. The reductions, tied to a formal restructuring plan the company began disclosing in late 2025, center on employee severance as Oracle shifts capital toward…
Shoppers at dozens of Saks Off 5th locations across the country will lose access to discounted luxury goods after Saks Global filed for Chapter 11 bankruptcy and announced plans to close 57 of its roughly 70 outlet stores. The company will keep just 12 Off 5th locations open while it restructures under court supervision, a…
Ubisoft cut more than 380 jobs and shut down studios in Winnipeg and Belgrade this month while restructuring its Barcelona office, shrinking a global workforce that stood at 16,590 as recently as March 2026. The closures hit weeks after the publisher released full-year earnings, raising questions about which remaining teams will absorb the canceled studios’…