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Fashion retailer Express filed for Chapter 11 bankruptcy in the United States and intends to close more than 100 stores, it said on Monday. The retailer whose portfolio includes brands such as Express, Bonobos and UpWest Express, listed assets and liabilities in the range of $1 billion to $10 billion, according to a filing with the bankruptcy court in Delaware. ... As part of the bankruptcy process, the company will close approximately 95 Express retail stores and all of its UpWest stores, starting Tuesday, it said, without specifying the locations.

Disney's been in a magical world of trouble over the last several years, ever since the company decided to pick a fight with Florida Gov. Ron DeSantis in the culture war and go all-in on diversity, equity, and inclusion as part of its core programming at the expense of its longtime customers, traditional American families. A string of movie failures hit Disney's bottom line in 2023 and 2024, most notably with "The Marvels," which opened as their worst-performing box office film in the Marvel Cinematic Universe. They also experienced flops within Pixar, with their latest, "Elemental," performing terribly at the...

Tesla shares extended declines Tuesday, pulling it close to the lowest levels since last spring, following the group's largest-ever job cuts, which have analysts and investors questioning the longer-term growth story of one of the market's most popular stocks. The Austin electric-vehicle group (TSLA) unveiled the layoffs in a companywide memo penned by Chief Executive Elon Musk, who told employees it was time to "streamline the company for the next phase of growth." "As we prepare the company for our next phase of growth, it is extremely important to look at every aspect of the company for cost reductions and...

Layoffs continue across the freight and logistics industry, with companies in Florida, Georgia, Illinois, Michigan and Texas announcing job reductions and facility closures over the past two weeks. Universal Logistics Warren, Michigian-based Universal Logistics is permanently shuttering two of its subsidiaries and laying off a total of 677 employees, according to notices recently filed with the state. The layoffs are related to Universal-operated entities Logistics Insights Corp. and Universal Dedicated of Detroit, an auto parts warehousing and logistics facility. Both operations were in Detroit. Universal Dedicated of Detroit’s closure will affect 230 truck drivers who worked from the facility. Logistics...

A fair wage advocacy group is demanding that California’s new $20 minimum wage law for fast food workers be extended to all sectors to help working-class people who are struggling with the state’s high cost of living. FOX Business spoke with Saru Jayaraman, president of One Fair Wage to discuss what she described as the skyrocketing levels of home insecurity and food insecurity post-pandemic. Fast food workers winning a $20 minimum wage, she said, “was just the beginning.” Jayaraman pointed to the exorbitantly high cost of living in the Golden State where, in some counties, an individual would need a...

Best Buy’s Geek Squad was hit was massive layoffs this week. According to 404 Media, who spoke to several employees, many Geek Squad members were told to work from home on Tuesday and wait for a call letting them know if they were still employed. Employees reported that the layoffs came suddenly, and were reportedly because the company could no longer afford to pay them. “It sucks, I spent more than half my life with this company and sacrificed a lot of personal time and experiences just to be let go,” a laid-off worker told the site. “At the same...

Tens of thousands of Americans have been made redundant at large companies this year. according to Warn Tracker, a website that tracks upcoming layoffs based on WARN (Worker Adjustment and Retraining Notification Act of 1988) notices. The WARN Act mandates that employers conducting large-scale layoffs or closures notify employees as well as state government officials of job losses at least 60 days in advance. WARN notices must be served by companies that have 100 or more full-time employees or 100 or more employees who, in aggregate, work at least 4,000 hours per week, excluding overtime.

Artificial intelligence will lead to fewer employees at companies in most sectors, according to an exhaustive survey of executives by the Swiss staffing company The Adecco Group (OTCPK:AHEXY). The survey found 41% of companies expect fewer people employed at their organization in five years due to AI and generative AI. What's more, only 46% of employers plan to redeploy workers internally if their jobs are displaced by AI. The survey, "Leading through the great disruption 2024," involved 2,000 C-suite executives spanning nine countries. It was conducted in collaboration with Oxford Economics. The study's authors suggest companies should take a "human-centric...

The real estate rollercoaster is hitting some unexpected twists and turns, with February delivering a double whammy of unsettling news. Brace yourselves: layoffs have skyrocketed a jaw-dropping 410% compared to last year, hitting levels not seen since the gloomy days of 2009. And guess what? The housing market is feeling the aftershocks big time. Picture this: home inventory levels have ballooned by 24% from this time last year, painting a landscape flooded with “For Sale” signs. But hold on, it gets wilder. The Sunbelt, known for its sunny skies and hot markets, is now facing a deluge of available properties,...

The electronics retailer Best Buy is set to close 10 to 15 stores this year and into early next year, according to an earnings call last week where the CEO blamed declining sales. On the earnings call, Best Buy CEO Corie Barry said the company needs “to strike a balance between its workforce and consumer interest,” according to The Austin American-Statesman. The chain closed 24 of its more than 1,000 stores last year. Earlier this month, two Best Buy locations closed – one in Colorado and one in Minnesota.

EXCLUSIVE Multimillion dollar fund manager ditches Tyson Foods, saying meat giant sacking US workers to hire 42,000 asylum seekers is the 'woke liberal takeover of America' A conservative fund manager has pulled investments from Tyson Foods, saying the meat and poultry giant has alienated its consumers by laying off Americans workers and hiring 42,000 asylum seekers. Bill Flaig, CEO and co-founder of the $79 million American Conservative Values Fund (ACVF), told DailyMail.com that he has divested from Tyson and won't buy any more stock in the company. Angry consumers are boycotting Tyson over revelations that the company is shuttering plants...

Welcome to 2024, where it is more beneficial to be an illegal immigrant in the United States than a U.S.-born, hard-working, law-abiding citizen. Tyson Foods is facing criticism and calls to be boycotted over the company reportedly firing its employees and hiring illegal immigrants in their place. According to Bloomberg, just days after Tyson Foods’s Perry, Iowa location fired more than 1,200 American workers, the company announced that it has partnered with a non-profit refugee group, Tent Partnership for Refugees, hiring thousands of asylum seekers instead. The food company reportedly recently had a job fair in Iowa for immigrants to...

A new survey reveals that the relentless wave of tech industry layoffs combined with the rise of AI has fueled widespread anxiety over job security among American workers. More than 72 percent of Americans making more than $150,000 fear losing their jobs to AI and other sources of economic insecurity, while even 50 percent of those making under $50,000 feel the same way. Fast Company reports that the constant stream of mass layoff announcements from major tech companies like Amazon, Google, Microsoft, and Twitter in recent months has caused an atmosphere of uncertainty across the workforce. Compounding these concerns is...

Levi Strauss & Co. is laying off nearly 150 people from its San Francisco headquarters as part of a massive round of cuts it's executing this year. The layoff affects 146 employees at Levi's office at 1155 Battery Street, according to a regulatory filing, and will be effective on April 27. The company first announced impending layoffs in an earnings report in January, when it said that it would reduce its global workforce by 10% to 15% in the first half of 2024 as part of an initiative meant to save the company $100 million. At the time, Levi's didn't...

February 2024 witnessed a distressing surge in layoff announcements, marking the highest for the month since the global financial crisis of 2009, according to a report by Challenger, Gray & Christmas. The total of 84,638 planned job cuts represents a 3% increase from January and a worrisome 9% surge from the same month a year ago. Tech industries, typically seen as pillars of stability, are grappling with a significant wave of layoffs, leading the pack with 28,218 job cuts. Despite this being a 55% decrease from the same period last year, the sheer volume underscores the challenges faced by even...

Denver Mayor Mike Johnston announced the city’s decision to scale back migrant services by consolidating shelters to save millions of dollars. The plan involves closing one shelter per week over the next month to reduce the budget deficit by nearly $60 million. Johnston emphasized that no one will be kicked out, but rather moved to other shelters.

Citigroup CEO Jane Fraser got a 6% pay bump for her performance in 2023, a year the bank's profits dropped 38% and Fraser began a dramatic restructuring that will result in an estimated 20,000 job cuts. The board awarded her total compensation of $26 million, ... The $26 million for Fraser was the lowest among CEO rivals at JPMorgan Chase, Bank of America, Wells Fargo, Goldman Sachs, and Morgan Stanley, who received between $29 million and $37 million. Bank of America's Brian Moynihan was the only CEO among this group to experience a compensation decline. ... Fraser had a lot...

No, it's not a joke. The City of Denver has informed workers that it may be furloughing them--technically still employing them at 0 hours of work--to illegally hire illegal aliens without work permits... As Denver faces a budget crisis due to 40,000 illegal immigrants arriving in the last year, the city is using its resources to get the migrant population employed, warning hourly workers that they may lose hours to illegal immigrants and using the public school system to help the illegals get work permits, according to emails obtained by The Daily Wire. Denver’s 9 News reported on Monday that...

PETERSBURG, W.Va. — According to a receptionist at Allegheny Wood Products on Monday, the company was waiting for lawyers to release a public statement about its closing that will reportedly end roughly 800 jobs. Various news outlets over the past few days reported the company, headquartered in Grant County with mills in several cities, including Petersburg and Moorefield, West Virginia, would cease operations after nearly 50 years in business. State Economic Development Secretary Mitch Carmichael told WV MetroNews that the decision was “very sudden and unfortunate,” the news organization reported. Andy Malinoski is the official spokesperson for the Department of...

Vice Media Chief, Bruce Dixon, has announced plans to lay off several hundred employees and cease content publication on Vice.com, according to an internal memo. The move comes after an unsuccessful attempt by owner Fortress to sell the struggling digital publisher and its associated brands. The company claims to be undergoing a shift towards a "studio model," with affected employees expected to be informed about the next steps early next week. Refinery29, another media brand under Vice's ownership, will continue to operate independently, focusing on diversified digital publishing. Dixon mentioned ongoing discussions about selling Refinery29. "Already in 2024, almost every...