(Reuters) -Tesla will lay off 285 employees in Buffalo, New York, as part of its plans to trim 10% of its global workforce, the electric-vehicle maker said in a legally mandated notice on Wednesday. Under pressure from falling sales and an intensifying price war for EVs, Tesla announced its latest round of jobs cuts on…
By Greg Bensinger (Reuters) – Amazon.com said on Wednesday it plans to push its cashierless shopping technology into more third-party stores this year, even as it reduces its reliance on the technology in its own. The online retailer said about 140 stores use the system, known as “Just Walk Out,” which allows customers to scan…
(Reuters) – Alphabet-owned Google is laying off an unspecified number of employees, a company spokesperson said on Wednesday, marking the latest cuts at the technology giant as it cracks down on costs. The Google spokesperson said the layoffs are not company-wide and that affected employees will be able to apply for internal roles, but did…
By Echo Wang (Reuters) -Shares of Donald Trump’s social media company slumped 18% on Monday, extending losses since the stock’s debut last month, after the company said it could sell millions of shares in coming months, including the former president’s entire stake. Trading in Trump Media & Technology Group, which operates Truth Social, has been…
(Reuters) -Advanced Micro Devices unveiled a new series of semiconductors for artificial intelligence-enabled business laptops and desktops on Tuesday as the chip designer looks to expand its share of the lucrative “AI PC” market. These chips are expected to be available in platforms from HP and Lenovo starting in the second quarter of 2024, AMD…
By Ludwig Burger FRANKFURT (Reuters) -Adidas on Tuesday raised its 2024 profit outlook after what the German sportswear giant said was a better than expected first quarter. In an unscheduled announcement, the company said it now expects full-year operating profit of about 700 million euros ($744 million), up from 500 million euros previously forecast. The…
By Saeed Azhar and Mehnaz Yasmin NEW YORK (Reuters) -Bank of America shares on Tuesday fell more than 3% after its first-quarter profits shrank and the bank set aside more money to cover souring loans from consumers whose finances are worsening. U.S. lenders have cited resilient household finances as evidence that the economy remains on…
By Mike Stone (Reuters) -Lockheed Martin has won a $17 billion contract to develop the next generation of interceptors to defend the United States against an intercontinental ballistic missile attack, the U.S. Missile Defense Agency said on Monday. The interceptor program is aimed at defeating current ballistic missile threats and future technological advances from countries…
By Victoria Waldersee BERLIN (Reuters) -Tesla is laying off more than 10% of its global workforce, an internal memo seen by Reuters on Monday shows, as it grapples with falling sales and an intensifying price war for electric vehicles (EVs). “About every five years, we need to reorganize and streamline the company for the next…
By Foo Yun Chee BRUSSELS (Reuters) – U.S. chipmaker Broadcom is being asked by EU antitrust regulators about changes to newly acquired cloud computing company VMware’s licensing conditions following complaints from a spate of EU business users and a trade group. The EU competition enforcer said it had sent requests for information to Broadcom to investigate…
