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Starbucks CEO Tells Employees to Work Harder After Layoffs

Starbucks CEO Brian Niccol is urging corporate employees to increase their workload and take responsibility for the coffee giant's financial health following recent layoffs. The company has been struggling with declining sales and inflation, which has made consumers more cautious about spending. To address these issues, Niccol has unveiled a "Back to Starbucks" strategy aimed at restoring the brand's momentum and return to its roots.

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Starbucks CFO Rachel Ruggeri Leaves as Chain Continues Attempted Turnaround Δ1.86

Starbucks is undergoing significant changes in its executive leadership, with CFO Rachel Ruggeri exiting the company. CEO Brian Niccol's "Back to Starbucks" plan aims to improve core coffee products, pricing, and service, but the latest quarter results show a flat revenue and earnings per share decline. The new CFO, Cathy Smith, will play a role in implementing Niccol's turnaround strategy.

Starbucks Names Nordstrom's Cathy Smith as CFO Amid Turnaround Δ1.83

Starbucks has appointed Cathy Smith, a retail industry veteran, as its new Chief Financial Officer (CFO), bringing her expertise to aid CEO Brian Niccol's efforts to transform the coffee giant. Smith will join after leading finance operations at department store chain Nordstrom for about two years and previously serving as CFO at big-box retailer Target for five years. The appointment is seen as a key move in the company's turnaround plan, which focuses on streamlining business through job cuts and improving customer experience at its U.S. stores.

Nordstrom Beats Holiday-Quarter Sales Estimates; CFO Jumps Ship to Starbucks Δ1.76

Nordstrom has exceeded Wall Street expectations for its quarterly sales growth, driven by strong customer response to its offerings across both banners. The company's decision to go private with a $4-billion deal from the Nordstrom family and Mexican retailer Liverpool marks a significant strategic shift. As CEO Erik Nordstrom emphasized, customers have responded positively to the strength of the offering.

Google Lays Off Hundreds of Cloud Workers Through Voluntary Redundancies Δ1.75

Google is reportedly offering voluntary redundancies to its cloud workers as part of a broader effort to cut costs and increase efficiency. The company has been struggling to maintain profitability, and CEO Sundar Pichai has announced plans to reduce expenses across various departments. While the layoffs are likely to be significant, Google has also stated that it expects some headcount growth in certain areas, such as AI and Cloud.

Buying Starbucks Corporation (NASDAQ:SBUX)? It's Time to Consider Δ1.73

The well-established Starbucks Corporation has seen a substantial price increase on the NASDAQGS over the last few months, but shareholders may appreciate recent gains, while still needing to determine if there's an opportunity to buy at the right time. The company's stock seems fairly valued according to our valuation model, trading around 8.6% below its intrinsic value, indicating a reasonable price for investors. However, future growth potential and the management team's track record remain important factors to consider when evaluating an investment in Starbucks.

Google Restructures Hr, Cloud Teams - Layoffs, Role Relocations Part of Cost-Cutting Push Δ1.73

Google is implementing significant job cuts in its HR and cloud divisions as part of a broader strategy to reduce costs while maintaining a focus on AI growth. The restructuring includes voluntary exit programs for certain employees and the relocation of roles to countries like India and Mexico City, reflecting a shift in operational priorities. Despite the layoffs, Google plans to continue hiring for essential sales and engineering positions, indicating a nuanced approach to workforce management.

The Impact of Uncertainty on Workplaces Today Δ1.73

In her new book, "Why Are We Here?: Creating a Work Culture Everyone Wants," workplace strategist Jennifer Moss explores ways to navigate the constant shifts in the modern workplace and help employees fall in love with their jobs again. As the pandemic has changed the way we work, many employees are facing uncertainty and disengagement. To address this, Moss emphasizes the importance of fundamental human needs such as dignity, respect, trust, purpose, and hope. By incorporating small incremental wins, celebrating goals, and nurturing workplace friendships, employers can help create a more hopeful and engaging work environment.

Federal Government Downsizes Workforce Amid Remote Return Δ1.72

The Office of Personnel Management greeted remote federal workers with balloons, candy, and handshakes on their first day back in the office amid layoffs and cost-cutting measures. Many employees had worked remotely for years, but under President Trump's orders, they were forced to return to the office as part of a broader effort to downsize the federal workforce. The scene was met with dismay by some workers who felt that the welcome-back effort was tone-deaf and mean-spirited.

RBC Lays Off Employees After Segment Shakeup, Sources Say Δ1.72

RBC has laid off some employees as a result of changes at its business segments following the C$13.5 billion acquisition of HSBC's domestic business last year. The layoffs were reported to have started earlier this week, affecting various teams including technology and operations, personal banking, and commercial banking. The restructuring aims to better position RBC for future growth opportunities.

Returning to Office at Least Every Weekday Could Be Key to Winning Agi Race Δ1.72

Google co-founder Sergey Brin is urging employees to return to the office "at least every weekday" in order to help the company win the AGI race, which requires a significant amount of human interaction and collaboration. The pressure to compete with other tech giants like OpenAI is driving innovation, but it also raises questions about burnout and work-life balance. Brin's memo suggests that working 60 hours a week is a "sweet spot" for productivity.

Grubhub Reduces Workforce Amid Restructuring Δ1.71

Grubhub has announced a significant reduction in its workforce, cutting approximately 500 jobs, as it seeks to realign its business with its new parent company, Wonder. The layoffs represent around 20% of the company's full-time employees, who now number over 2,200. This restructuring move comes amidst slowing growth and high taxes, which led to a steep loss for previous owner Just Eat Takeaway.

Boeing Needs to Change Its Insular Culture, CEO Says in Company-Wide Meeting Δ1.71

Boeing CEO Kelly Ortberg emphasized the necessity of fostering a more open culture within the company, encouraging employees to communicate across divisions to enhance collaboration. He noted that the current insular nature of teams has hindered the company's performance and morale, particularly following significant financial losses and production challenges. Ortberg's call for cultural change is backed by employee feedback and aims to restore Boeing's iconic status and operational effectiveness.

Kroger CEO Ousted in Stunning Shake-Up--What Really Happened Behind Closed Doors? Δ1.71

Kroger's sudden leadership change has sent shockwaves through the retail industry, leaving investors to wonder about the true reasons behind Rodney McMullen's resignation. The company maintains that the issue was unrelated to financial performance or operations, but its seriousness prompted a violation of ethics policies. As Kroger navigates this transition, it must also address ongoing legal disputes and the lingering impact of its failed merger attempt.

RBC Lays Off Employees Related to HSBC Deal Δ1.71

RBC has laid off some employees as a result of changes at its business segments following the acquisition of HSBC's domestic business last year for C$13.5B. The restructuring is aimed at optimizing RBC's operations and improving efficiency in its retail banking division. This move follows a similar trend seen in other financial institutions, where cost-cutting measures are being implemented to adapt to changing market conditions.

When Corporations Betray Consumers' Trust: The Economic Blackout That's Sparking Change Δ1.70

A retail boycott is hitting major US businesses Friday as an online campaign calls for Americans to spend nothing at places such as Walmart, Target, Amazon and McDonald’s. The motivation for the so-called "economic blackout" are varied, according to John Schwarz, founder of the grassroots organization The People’s Union, with Schwarz advocating for price reductions and tax avoidance by major corporations, while also condemning companies that have backed away from diversity, equity and inclusion (DEI) policies. This movement reflects growing concerns about corporate accountability and the power of consumer activism in driving change.

Albertsons Appoints Insider to Top Role as CEO Vivek Sankaran to Retire Δ1.70

Albertsons has announced the retirement of CEO Vivek Sankaran, with Susan Morris, the current COO, set to take over the role on May 1. This leadership transition follows the supermarket chain's recent challenges, including a failed merger with Kroger, and marks a strategic shift towards enhancing digital sales and retail media initiatives. As Morris steps into the CEO position, she will also be responsible for executing the company's "Customers for Life" strategy aimed at improving customer retention through loyalty programs and personalized experiences.

Chipotle CEO Says Company Will Absorb Any Cost Increases From Tariffs Δ1.70

For now, Chipotle intends to keep costs constant for consumers despite potential tariff-related increases in its cost of goods. The burrito chain's CEO, Scott Boatwright, has stated that the company is "fortunate" to have an economic model that can withstand inflationary pressures without passing costs on to customers. This approach aims to maintain pricing stability and deliver value to consumers.

Albertsons Appoints Insider to Top Role as CEO Vivek Sankaran to Retire. Δ1.70

Albertsons has appointed Susan Morris, its chief operations officer since 2018, to take over the top role following the retirement of CEO Vivek Sankaran. The move aims to shift focus towards building digital sales and retail media business, a strategy that aligns with Morris's background in driving operational efficiency. As part of her new role, Morris will also oversee the execution of "Customers for Life" strategy, which seeks to retain customers through loyalty offerings and personalized digital experience.

Hiring Slump Deepens as Bosses Brace for Reeves Tax Raid Δ1.70

Businesses are reducing hiring plans and preparing for layoffs in response to Rachel Reeves's forthcoming £40bn tax increase, which includes hikes to the National Living Wage and National Insurance. A report indicates that demand for permanent roles has dropped for 18 consecutive months, with many firms citing economic uncertainties and rising payroll costs as reasons for scaling back. The anticipated changes are causing widespread concern, particularly among small and medium-sized enterprises, which may face significant financial strain.

Mass Layoffs to Hit Veterans' Affairs as Early as June Δ1.70

The Department of Veterans Affairs will begin mass layoffs, targeting more than 80,000 workers, in an effort to reduce the agency's size by at least a fifth. The planned cuts, which could be finalized by June, have been met with criticism from Democrats and some Republicans, who argue that they threaten veterans' health benefits. The layoffs are part of a broader effort by President Donald Trump and billionaire adviser Elon Musk to slash the federal government's workforce.

Boeing Ties Employee Incentive Plan to Company-Wide Performance Δ1.70

Boeing has introduced a significant change to its employee incentive plan, tying annual bonuses for over 100,000 employees to company-wide performance. This shift in approach aims to promote a culture of collaboration and shared goals across the various business units, rather than individual unit-specific objectives. The move is part of a broader effort by CEO Kelly Ortberg to drive cultural change and improve employee engagement.

Job Cuts at Grubhub Highlight Industry Shift Amid Consolidation Δ1.70

Grubhub has announced plans to cut approximately 500 jobs, representing over 20% of its workforce, as the company seeks to realign its business with its parent company Wonder after a takeover last month. The layoffs come amid broader industry shifts and consolidation efforts in the food delivery sector. Grubhub's restructuring aims to enhance operational efficiency and improve its competitive position.

US Labor Department Reinstates Workers Targeted in Trump Job Cuts, Union Says Δ1.69

The U.S. Department of Labor has reinstated about 120 employees who were facing termination as part of the Trump administration's mass firings of recently hired workers, a union said on Friday. The American Federation of Government Employees, the largest federal employee union, said the probationary employees had been reinstated immediately and the department was issuing letters telling them to report back to duty on Monday. This decision reverses earlier actions taken by the Labor Department, which had placed some employees on administrative leave.

Kroger Outs Long-Time Ceo After Probe Into Personal Conduct Δ1.69

Kroger has ousted long-time CEO Rodney McMullen after a board investigation found that his personal conduct was "inconsistent" with certain company policies, marking a surprise move that comes as the company grapples with the aftermath of its abandoned Albertsons merger. The ouster raises concerns about Kroger's leadership stability and ability to navigate complex operations. The sudden change may have implications for investors and employees alike.

Salesforce Shifts Gear, Embracing Ai as Job-Sharing Partner Δ1.69

Salesforce has announced it will not be hiring more engineers in 2025 due to the productivity gains of its agentic AI technology. The company's CEO, Marc Benioff, claims that human workers and AI agents can work together effectively, with Salesforce seeing a significant 30% increase in engineering productivity. As the firm invests heavily in AI, it envisions a future where CEOs manage both humans and agents to drive business growth.