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Burberry Laying Off 1,700 Workers As High-End Fashion Designer's Sales Plunge Burberry Laying Off 1,700 Workers As High-End Fashion Designer's Sales Plunge
Burberry Laying Off 1,700 Workers As High-End Fashion Designer's Sales Plunge Burberry is cutting more than 1,500 jobs worldwide after the British luxury fashion brand saw a steep drop in profits. The company will lay off about 1,700 workers by 2027, Burberry said in an earnings report on Wednesday, May 14. The job cuts are part of a broader restructuring plan, aiming to save 100 million British pounds. The cuts will come from operational expenses, including procurement, real estate, and staffing. Burberry said the changes are "subject to consultation where applicable." The layoffs follow a difficult year for Burberry, which reported a 94% drop in adjusted oper…

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by Chris Spiker
Business
UPS Slashing 20K Jobs As Amazon Deliveries Drop, Trump's Tariffs Bite UPS Slashing 20K Jobs As Amazon Deliveries Drop, Trump's Tariffs Bite
UPS Slashing 20K Jobs As Amazon Deliveries Drop, Trump's Tariffs Bite UPS will eliminate about 20,000 jobs throughout 2025 as part of a major cost-cutting plan fueled by a decline in Amazon shipments. The Atlanta-based shipping giant revealed the job cuts in a regulatory filing on Tuesday, April 29. UPS also plans to close 73 buildings by June as the company aims to save $3.5 billion by the end of 2025. CEO Carol Tomé said UPS is working to adapt to more difficult economic conditions for shippers due to President Donald Trump's sweeping tariffs. "As a trusted leader in global logistics, we will leverage our integrated network and trade expertise to assi…

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by Chris Spiker
Business
Most CEOs Expect Recession Within Six Months, Call Trump's Tariffs 'A Train Wreck': Survey Most CEOs Expect Recession Within Six Months, Call Trump's Tariffs 'A Train Wreck': Survey
Most CEOs Expect Recession Within Six Months, Call Trump's Tariffs 'A Train Wreck': Survey A majority of CEOs across the country are now bracing for a recession within six months as confidence in the US economy tumbles to its lowest level in years due to President Donald Trump's tariffs, according to a new survey. The industry group Chief Executive released the findings from a poll of 329 CEOs and business owners on Monday, Apr. 14. The survey showed growing alarm over Trump's escalating tariffs, which many fear will push the country into a downturn. According to the survey, 62% of CEOs expect a recession over the next six months – the highest level in recent years and up fr…

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by Chris Spiker
Business
New Starbucks Opens In West Hartford; 5th Location In City New Starbucks Opens In West Hartford; 5th Location In City
New Starbucks Opens In West Hartford; 5th Location In City Starbucks has expanded its footprint in West Hartford with a fifth location. The coffee chain opened a new store this week at 415 South Main St., featuring a drive-thru. The store opens daily at 5 a.m. Starbucks already operates locations in West Hartford on LaSalle Road, Kane Street, Albany Avenue, and New Britain Avenue. The expansion comes during a tumultuous time for the coffee giant. Earlier this month, the company announced it is streamlining its menu and discontinuing some of its most popular drinks, including several Frappuccino options, the royal English breakfast latte, and whit…

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by Josh Lanier
Business
Trump Halts Mexico Tariffs Amid Rising Trade Tensions, Domestic Economic Fears Trump Halts Mexico Tariffs Amid Rising Trade Tensions, Domestic Economic Fears
Trump Halts Mexico Tariffs Amid Rising Trade Tensions, Domestic Economic Fears President Donald Trump is reversing course on tariffs against Mexico, stepping back from a trade war he started with the nation's southern neighbor. In a Thursday, Mar. 6 post on his social media platform Truth Social, Trump said he struck a deal with Mexican President Claudia Sheinbaum to delay tariffs on goods covered by the United States-Mexico-Canada Agreement (USMCA). The pause will be in effect until Tuesday, Apr. 2. "I did this as an accommodation, and out of respect for, President Sheinbaum," Trump posted. "Our relationship has been a very good one, and we are working hard, to…

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by Chris Spiker
Business
Sesame Workshop To 'Downsize Significantly' Amid Funding Cuts, Streaming Partner Loss Sesame Workshop To 'Downsize Significantly' Amid Funding Cuts, Streaming Partner Loss
Sesame Workshop To 'Downsize Significantly' Amid Funding Cuts, Streaming Partner Loss Sesame Workshop, the nonprofit production company behind the beloved children's educational TV show "Sesame Street," is facing major staff cuts after losing key funding. Daily Voice confirmed the layoffs in an email from a Sesame Workshop spokesperson on Wednesday, Mar. 5. The job cuts were first reported by Semafor media editor Max Tani, who obtained an internal staff note from CEO Sherrie Rollins Westin. The spokesperson didn't disclose how many employees were affected. "As production of our 56th season begins next month, we remain as committed as ever to bringin…

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by Chris Spiker
Business
Bed Bath & Beyond To Eliminate Nearly 3,000 Jobs Starting Immediately Bed Bath & Beyond To Eliminate Nearly 3,000 Jobs Starting Immediately
Bed Bath & Beyond To Eliminate Nearly 3,000 Jobs Starting Immediately Bed Bath & Beyond will cut nearly 3,000 jobs under a plan to cut costs and streamline operations. Jobs will start to be eliminated immediately, the company said in a statement on Tuesday, Aug. 25. "In conjunction with the organizational realignment, the company has implemented a significant workforce reduction of approximately 2,800 roles from across its corporate headquarters and retail banner stores, effective immediately," the statement said.  "This action is designed to further reduce layers at the corporate level, significantly reposition field operations to better serve…

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by Joe Lombardi