Amazon cut 67,000 jobs in 2022, the first yearly decline in 20 years
Amazon.com Inc. had a pretty bad year in 2022, with the e-commerce and cloud giant recording its biggest loss ever, and with its stock suffering a yearly record loss. Its employees had a bad year, too: For the first time in 20 years, the company shrank its workforce. According to Amazon’s 2022 annual report, released […]
UPS foresees ‘mild recession’ in 2023 and posts first revenue decline since the 2008 financial crisis
Shares of United Parcel Service Inc. rallied Tuesday, even after the package-delivery giant reported a surprise decline in fourth-quarter revenue, missing Wall Street expectations for the first time in 12 quarters, and warned of the first yearly decline in revenue in 14 years. Investors expressed relief, however, as UPS beat fourth-quarter profit expectations, raised its […]
Apple, Amazon, Facebook and Google face earnings test amid Big Tech layoffs
In the biggest week of the holiday-earnings season, Big Tech results will receive the spotlight amid thousands of layoffs that could only be the beginning.After tech stocks were decimated in 2022, investors will be looking for signs of a turnaround in holiday reports and potential forecasts for the year ahead from three of 2022’s top […]
On eBay, sellers are hawking water from Disney’s shuttered Splash Mountain ride
Walt Disney World DIS, +2.14% shuttered its popular but controversial Splash Mountain boat ride over the weekend, ending the attraction’s three-decade run. But some entrepreneurs are pitching a way to keep the water flowing, so to speak. Namely, they are selling water they say is sourced from the ride. There are dozens of listings on […]
Ending AmazonSmile donations ‘could not come at a worse time’ for nonprofits
The end of Amazon’s charity donation program will be another blow to small nonprofits that are already struggling to make ends meet in an uncertain economy, nonprofit leaders told MarketWatch.Amazon AMZN, -0.11% is scrapping AmazonSmile, the program that lets Amazon customers direct donations to nonprofits while shopping on the online retail giant. Customers who sign […]
WWE streaming on Netflix or Amazon? One analyst says it’s possible
World Wrestling Entertainment Inc.’s search for a buyer or some other business arrangement has “a reasonable probability of success” that could draw the interest of streaming giants like Netflix Inc. NFLX, -1.98% and Amazon.com Inc. AMZN, -2.11%, Wells Fargo analysts said Tuesday. Those analysts upgraded WWE WWE, +0.29% shares to their version of hold from […]
Labor board upholds Amazon union victory at Staten Island warehouse, after months of wrangling
A U.S. labor representative on Wednesday dismissed Amazon.com Inc.’s objections to a historic union-election victory at a warehouse in Staten Island, N.Y. last year, following months of aggressive efforts by the online retailer to squash the organizing effort. Amazon said it would appeal the decision, which came from a regional director of the National Labor […]