Business

PepsiCo Slashes Jobs

PepsiCo may be slashing thousands of corporate jobs in North America. The layoffs will affect employees of its food and beverage businesses in Chicago; Plano, Texas, and Purchase, New York, the Journal reported, citing people familiar with the matter and a company memo. PepsiCo’s portfolio includes Gatorade drinks, Frito-Lay snacks, and Quaker Oats foods.

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The Questionable Value of College

A college degree isn’t what it used to be as employers are rethinking necessary requirements for new hires in a time where the labor market is exceedingly tight.

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Berkshire Hathaway Discloses $4.1 Billion TSMC Investment

Berkshire Hathaway said it bought more than $4.1 billion of stock in Taiwan Semiconductor Manufacturing, a rare significant foray into the technology sector by billionaire Warren Buffett's conglomerate.

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Recession Tests Airbnb

Airbnb gave a disappointing outlook for bookings in the fourth quarter, suggesting that consumer preferences are shifting away from higher-cost rentals that thrived during the pandemic and back to urban and cross-border destinations. The shares fell more than 9% in extended trading.

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Warner Bros. Discovery Group Restructuring

Warner Brothers – Discovery expects to record pretax charges of up to $4.3 billion as part of ongoing restructuring efforts at the film and TV company.

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Royal Philips Recall Results In Layoffs

Royal Philips has announced that the company will be cutting 4,000 jobs in an attempt to better manage supply chain shortages and handle the recent backlash from a recalled sleep apnea device.

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Netflix Launches Subscription With Ads

Netflix has revealed its plans to offer a reduced-cost version of the popular streaming service at a time when consumers are more reluctant to spend money.

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Ford Decides to Keep Foot on the Gas

Despite just about every car maker everywhere turning their heads towards the development of electric vehicles, Ford Motor has recently stated that for the time being their well-known Mustang will stick with a traditional gas-powered motor.

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Netflix Ubisoft Partnership

Netflix has announced a new partnership with Ubisoft, a popular European gaming developer with several AAA video game franchises such as Assassin’s Creed, Far Cry, and numerous Tom Clancy games.

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Starbucks Turnaround is Here

Starbucks is expected to unveil a reinvention plan Tuesday as the coffee giant grapples with changing consumer behavior, outdated store designs and a union push in the U.S.

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Peloton Shakeup

Peloton said co-founder John Foley and other senior leaders are leaving the company in a management shake-up as the maker of connected exercise equipment races to turn itself around.

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Juul Settlement Exceeds $438 Million

Juul Labs agreed to pay at least $438.5 million in a settlement with more than 30 states, the latest step by the beleaguered e-cigarette maker to resolve allegations that it marketed its products to underage users.

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The Apple Ad Saga

As previously reported by Brookfield Brief, the release of Apple’s App Tracking Transparency feature has caused the company to have to rethink its methods of raising money. As the feature can significantly increase user satisfaction by ensuring greater data privacy and transparency, the company has lost significant sums due to decreased ad revenue.

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Ford Firing 3,000 Employees

Ford confirmed Monday it is laying off roughly 3,000 white-collar and contract employees, marking the latest in its efforts to slash costs as it makes a longer-range transition to electric vehicles.

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Apple Employees Want to Stay Home

As the pandemic fizzles out many companies are looking to return their workforce to the office, however, several employees from Apple have become quite accustomed to the work-from-home environment and are now pushing back against demands to return.

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Arrivederci Domino’s: Pizza Giant Shuts Down in Italy After Failing to Lure Italians to Their Pizza

Domino’s ambitious experiment to launch American pizza tastes in the ancestral home of pizza has come to a quiet, predictable end. Seven years after its debut in the country, the American pizza giant has formally shut its stores after it failed to win over locals who preferred homegrown options, according to a report by Milano Today. EPizza SpA, the franchise operator of the Domino's brand in Italy, filed for bankruptcy after it struggled to make enough sales during two years of pandemic restrictions, according to a document filed in a Milan court.

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Target Wants to be Amazon

Target, like Walmart, has begun expanding its e-commerce services by establishing its first delivery hub in the company’s hometown of Minneapolis. The delivery hub will utilize employees’ personal vehicles to deliver packages to a consumer’s front door and is looking to quickly expand to other parts of the country such as Chicago and Denver.

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Disney's Hulu is Outperforming Disney Plus

New subscriptions to Hulu have outpaced those of Disney’s flagship streaming platform, Disney+, in 18 of the past 24 months, and total new subscriptions to Hulu have exceeded those to Disney+ in each of the last six quarters, according to data from subscriber-measurement firm Antenna.

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Vodafone and InfraRed Capital Reach Deal

New Zealand-based Vodafone is selling its mobile phone tower assets to InfraRed Capital Partners and Northleaf Capital Partners for $1.1 billion, in which both companies will have a 40% stake in the new business known as TowerCo.

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Prologis Acquires Duke Realty in $26 Billion Deal

Warehouse giant Prologis has agreed to buy its rival Duke Realty in an all-stock deal valued at $26 billion including debt

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Airbnb Abandons China

Airbnb is closing its domestic business in China, according to two sources familiar with the matter. The company is planning to tell employees in the country as early as Tuesday morning in Beijing

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Adani Group's Billion Dollar Expansion

Adani Group has high hopes for India’s economy in the coming years and response has begun laying the groundwork for the largest infrastructure acquisition in the country’s history

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McDonalds to Exit Russia

McDonalds said it would quit Russia and sell its regional business there, ending more than three decades in the country over its invasion of Ukraine

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Musk Sells $8.5 Billion of Tesla to Fund Twitter Buy

Elon Musk’s acquisition of Twitter did not come without tradeoffs as the world’s richest man sold off $8.5 billion worth of Tesla stock to successfully fund his takeover of the social media company

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Apple Charged in EU Over Apple Pay

Brussels regulators have charged Apple with breaking EU competition law by abusing its dominant position in mobile payments to limit rivals’ access to contactless technology

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Activision Blizzard Sees Sales Slump

Activision Blizzard has seen a significant drop in sales for the first quarter of 2022 as demand for the popular video game franchise, Call of Duty, fell

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Congress Wants to Spend Small Business Aid Elsewhere

Congress is discussing potentially reallocating unspent funds provided to small businesses throughout the pandemic and using that money to assist with federal pandemic health expenses such as vaccines and therapeutics

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Volkswagen Adjusts Global Strategy

Volkswagen has always thrived in the global economy by manufacturing and selling its vehicles around the world, however, recent geopolitical conflicts and worldwide pandemics that have resulted in stalled supply chains and closed off markets have caused Volkswagen to rethink its strategy and move away from the global market

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Amazon Wins Dismissal of Antitrust Lawsuit

Amazon successfully won the dismissal on Friday of an antitrust lawsuit brought upon the company by the District of Columbia stating that the company was negatively impacting consumers by preventing sellers on its platform from offering better prices for their products on other platforms

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China COVID-19 Policies Disrupting Apple Supply Chain

Despite Covid-19 cases dropping around the world since the end of January, unfortunately, some parts of the world are still struggling with rising numbers and extending lockdowns

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Rio Tinto Expands Market Share Amid Skyrocketing Copper Prices

Rio Tinto has offered to buy out minority shareholders including Turquoise Hill for their giant copper mining operation within Mongolia

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Fighting Back Against the Rising Prices of Household Goods

The Colgate CEO stated last week at an industry conference that the household goods maker sees its new Optic White Pro Series toothpaste as the type of premium product “vital” to its ability to raise prices, which will help drive profit growth this year. His remarks come when many consumer products companies are hiking prices as much as they can to offset their own rising costs

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Toyota Temporarily Shuts Down Japan Manufacturing

Toyota, the world's largest carmaker, shut down all its factories within Japan today in response to a recent cyber-attack on one of the company’s biggest suppliers for the region

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Icahn v. McDonalds

Activist investorCarl Icahn has launched a highly unusual board fight at McDonald’s to demand changes to the way its suppliers treat pigs. In a statement on Sunday, McDonald’s said Icahn had nominated two board directors as part of a campaign related to “a narrow issue regarding the company’s pork” processing. Icahn has asked McDonald’s to require that all its US pork suppliers end the practice of keeping pregnant pigs confined in small crates

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Lockheed Martin Abandons Aerojet Takeover Amid FTC Lawsuit

Lockheed Martin has dropped its $4.4bn bid to buy the rocket engine maker Aerojet Rocketdyne after the US Federal Trade Commission sued to block the deal, claiming it would reduce competition and raise prices in the defense sector

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Ford Halts Customer Orders for Maverick

Car manufacturers continue to struggle to meet demand as Ford Motors has halted customer orders for the Maverick that rolled out last year as the company is unable to meet the vehicles' current demand

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Lamborghini Greenwashed

Lamborghini has announced it is set to fully electrify its range, first with an all-plug-in-hybrid lineup, and then with the planned launch of a fourth model that will be a pure EV and that all fully gasoline-powered models will be phased out by 2025

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Activision's Sexual Misconduct Inquiry Continues

The video game giant Activision Blizzard Inc. has fired more than 37 employees as well as issued discipline on 44 more employees over allegations of sexual harassment since July of 2021

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Why Are Shelves in the U.S. Empty?

Shelves in stores across the country are increasingly becoming noticeably empty, and many stores have been struggling to restock vital household and kitchen necessities like milk, bread, meat, and cleaning products quick enough to keep up with demand

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Rolls-Royce Collecting Death Tax

The boss of luxury carmaker Rolls-Royce said Covid-19 deaths helped the brand sell a record number of vehicles last year as wealthy motorists splashed out after realizing “life can be short”

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Dysfunction Among Federal Agencies Slowing 5G Rollout

On Sunday AT&T and Verizon were asked by U.S. regulators to postpone the distribution of some of their 5G services out of fear that the technology may impact aviation travel. The U.S. telecoms’ chief executives John Stankey Hans Vestberg have spoken out against 5G stating that it may cause significant interference with aircraft technology that is critical for taking off and landing flights

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Why You Should Bet the Farm

Equities weren’t the only thing Americans were making irrational wild bets on. Online sports gambling saw record betting volume at an over 20-fold increase of 2,158% up from a monthly volume of $310 million in June 2018 to a monthly volume of $7 billion in October of this year with 84% of the volume happening on mobile devices

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Online Sports Gambling Poised for Breakout

In June 2018, sports gamblers wagered $310 million for the month. In October 2021, they wagered $7 billion for the month — a more than 20-fold increase with 84% bet volume happening on mobile devices across platforms like Draft Kings, Barstool Sports Book, and FanDuel

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Evergrande Is Only the Beginning

In the great opera that are often financial crisis’s, the fuse and timer may take some time to burn out but as soon as the ignition point is hit the chain reaction happens quickly — inevitably resulting in explosion, it then becomes a matter of blast containment. "According to Evergrande’s 2014 earnings report, debt to equity ratio was 85.9% if perpetuals were classified as debt that debt to equity ratio becomes 292%."

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Hertz Plans $2 Billion Stock Buy Back

After Hertz Global recovered from its bankruptcy filing last year, the company has stated it intends to buy back up to $2 billion of its stock

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LVMH's Virgil Abloh Dead at 41

The street fashion world suffered a major blow after the news of Virgil Abloh's passing broke early on Sunday. He lost a private battle with an aggressive form of cardiac cancer at age 41. Known as the founder of the rising Off-White brand worth near $750 million on time of Abloh’s passing, Abloh had been leading the street fashion design world for the last decade

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Nissan Invests $17.6 Billion in EVs

Nissan Motors is stepping up its game within the electric vehicle industry by investing $17.6 billion over the next five years in an attempt to add 20 new battery-powered vehicles to its fleet

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Regeneron's Vaccine Alternative

Alternatives to Covid-19 vaccinations continue to gain traction as Regeneron Pharmaceuticals Inc. stated that its new monoclonal antibody drug can give significant protection for those who have not been vaccinated

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What is Pfizer Doing in Latin America?

Drugmaker Pfizer has been employing “high-level bullying” against at least two Latin American countries during negotiations to acquire vaccines according to a recent investigation, including requesting the nations put sovereign assets as collateral for payments and demanding that the company be protected from any lawsuits pertaining to negligence and demanding that countries put up sovereign assets as collateral

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Hertz Orders 100,000 Tesla Vehicles Putting Tesla Market Cap Above $1 Trillion

Hertz, the rental car company fresh out of Chapter 11 and under new management is charging ahead into the future. The company has announced that it will order 100,000 electric vehicles from Tesla by the end of 2022, a move aimed at transitioning more electric vehicles in its car-rental fleet

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DrunkDash

DoorDash is starting a dedicated alcohol delivery service, pushing full speed into into non-food categories as the battle for on-demand delivery heats up with Uber and Instacart

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Toyota Moving into EVs, Finally

Toyota Motors has received some recent criticisms for being reluctant to release a plan for the upcoming electric vehicle shift in order to meet carbon emission requirements. The company responded by announcing it will be investing $13.6 billion into battery development and manufacturing over the course of the next decade

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Hyundai's Hydrogen Play

Hyundai Motor Group is calling hydrogen as a top energy solution for sustainability. With the launch of its new fuel cell system that it plans to launch within the next few years, the car manufacturer said it will provide hydrogen fuel cell varients for all its commercial vehicles by 2028

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The Feds Are Sniffing Around the EV Space…And They Should Be

The Securities and Exchange Commission has opened an investigation into electric delivery-truck maker Ohio-based Workhorse Group, a company that was an early investor in plagued EV startup Lordstown Motors

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Foot Locker's Billion Dollar Acquisition Spree

Foot Locker has decided to expand after the COVID-19 pandemic brought shoppers out of stores and moved online. The company, which previously consisted of stores located in shopping malls, will be purchasing California-based WSS for $750 million and the Japanese company Atmos for $360 million in hopes to expand the company’s customer base as well as shopping mediums

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OPEC Deal Fails Sending Prices Higher

OPEC abandoned its meeting without a deal, tipping the cartel into crisis and leaving the oil market facing tight supplies and rising prices. Brent crude jumped 1.3% to $77.12 a barrel as of 5:42 p.m. in London, the highest since 2018

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Ford's June Sales Down 26.9%

The chip shortage strikes again as Ford Motors faced a significant drop in sales for June due to limited stock

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Juul Settles for $40 Million

Juul Labs has agreed to pay $40 million to the state of North Carolina to resolve a lawsuit alleging that the vaping startup targeted underage users. The lawsuit by the North Carolina attorney general was slated to go to trial this July, one of hundreds of similar cases brought against the e-cigarette company by state officials, school districts and young people. Those cases are still pending

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Porsche Takes Aim at Battery Business

Car manufacturer Porsche is going into the battery business. The company says it plans to open a new factory that will produce high-performance cells through a joint venture with lithium-ion battery developer Customcells

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Apple Hires BMW Executive

Ulrich Kranz has joined Apple, a former senior executive at BMW’s electric car division, to help lead its own vehicle efforts.The technology giant hired Kranz in recent weeks, about a month after he stepped down as chief executive officer of Canoo, a developer of self-driving electric vehicles. Before co-founding Canoo, Kranz was senior vice president of the group that developed the i3 and i8 cars at BMW, where he worked for 30 years

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America is Hiring Like Never Before

The job market throughout the United States is on fire, soaring to nearly a million job openings in April, which set a record for the highest overall number recorded in a single month since the Bureau of Labor Statistics started tracking this data in 2000 at 9.3 million new positions

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Long Bumpy Ride for the Auto Industry

The global chip shortage continues to hinder car manufacturers who are now being forced to shut down assembly lines as they do not have the chips required to continue production

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Reopening: Trouble Ahead?

As the COVID-19 pandemic comes to an end, consumers are already spending more in restaurants, hotels, and solons. As more consumers get vaccinated and businesses begin to reopen to full capacity economists are expecting a large surge in economic growth

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Trouble with Amazon Union Vote?

The vote to determine whether Amazon workers in Birmingham, Alabama will form the first union at Amazon is set to begin, which is estimated to affect over 6,000 Amazon employees at the Bessemer warehouse and have broader implications nationwide. The results, however, might be delayed due to potential and likely legal challenges from whoever ends up losing the vote

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US Factories Take Hit

Orders for U.S. goods recently fell in February, with many speculations that the decrease could be caused by colder weather in months for many regions of the United States. Nevertheless, manufacturing in the country remains strong as the economic recovery gains steam amid an improving public health situation and massive fiscal stimulus, with the AP reporting that U.S. manufacturing activity has reached its fastest pace since 1983

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Sell the Farm, Save the Tractor

The equipment many farmers are now using is a lot different from the tractors we had once become accustomed to. Today’s modern tractors are fully equipped with software and technology that is designed to improve efficiency and increase yields. In order to repair these features, however, it requires digital tools—tools that your average farmer cannot buy and cost a fortune.

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BMW & California's PG&E

BMW Group and California utility Pacific Gas & Electric are rolling out a pilot program that aims to test and understand how EVs could support the integration of green energy on the power grid

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Toys R Us Under New Managment...Again

03.15.21 - Toys R Us is under new management with a new owner. WHP Global announced recently that the firm has acquired a controlling interest in Toys R Us parent company, Tru Kids. The company also owns Babies R Us and Geoffrey the Giraffe brands

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Fiat Chrysler Pleads Guilty in Union Bribery Scheme

03.01.21 - Fiat Chrysler has pleaded guilty to charges that it conspired with company executives to make illegal, extravagant gifts to United Auto Workers Union leaders and undermined workers’ confidence in collective bargaining

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New York State Sues Amazon Over Labor Conditions

02.22.21 - The New York Attorney General has filed a lawsuit against Amazon that claims that the online retailer has not done enough to adequately protect its workers from COVID-19. Amazon has returned fire to the NY AG claiming the state’s case doesn’t present an accurate picture of its pandemic response

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Grocery Store Worker Vaccination Incentives

02.22.21 - There has been a growing list of US grocery store chains and retailers offering incentives to employees who get the Covid-19 vaccine. Publix, the popular Southern supermarket chain, became the most recent store to do so, stating that it is offering its employees $125 gift cards when they sign up and show proof of their vaccination

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Amazon's Jassy Effect

02.08.21 - As Jeff Bezos steps down as CEO, Amazon finds itself on the eve of a new era. After 27 years, Amazon will have a new CEO for the first time. Bezos will be replaced by Andy Jassy, a company executive who joined Amazon in 1997, only three years after its founding

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Former Alibaba Chairman Jack Ma Is Missing

01.04.21 - Billionaire Jack Ma, the founder Alibaba Group and formerly served as its executive chairman, is suspected to be missing

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Lockdown Home Improvement

12.28.20 - As the world spent most of the year locked down, Americans started looking around their homes in disgust and decided to do some home improvements in a big way

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What Do Longhorns, Oracle, and Tesla Have In Common? Texas

12.14.20 - Silicon Valley has long been the epicenter of the tech industry for many decades, starting in 1938 when Bill Hewlett and David Packard started tinkering in a Palo Alto garage. Of course, the descendant of the company they founded, Hewlett Packard Enterprise, has ended up moving its headquarters to Texas

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The Resilience of Big Restaurant Chains

12.07.20 - Covid-19 has been brutal for big tenants of American shopping centers, such as clothing stores and cinemas. Not so for the casual eateries that surround these outlets. Many of America’s sit-down dining chains are on track to emerge stronger after two-quarters of pandemic-driven innovation. The final hurdle is the winter

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Holiday Stress on E-commerce

12.07.20 - E-commerce has become a lifeline for consumers and companies during the COVID-19 pandemic. E-commerce has always been stretched to the limits during this time of the year, but this holiday season, online shopping will strain the industry as never before. An estimated three billion packages will go through the nation’s shipping infrastructure — around 800 million more than the previous year

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Germ Bonanza II

11.09.20 - The federal government is swamped with reports of potential fraud in the Paycheck Protection Program, according to government officials and public data, casting a shadow on one of Washington’s signature responses to the coronavirus pandemic.Congress and the White House designed the PPP to give small businesses fast and easy access to taxpayer funds, and it worked: About $525 billion in loans were distributed to 5.2 million companies between April 3 and Aug. 8. Many business owners say it was a lifeline in turbulent times

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Las Vegas Hyperloop Debut

11.09.20 - The future of transportation could possibly be taking shape as Virgin Hyperloop gave the first test ride on its track recently in Las Vegas, but the futuristic form of transportation will take years before the everyday public could potentially become equated with the high-speed rides on a hyperloop. A hyperloop is a bold, new transportation system in which people travel in a small pod within a vacuum tube at speeds as high as 600 mph (Might sound crazy, I know)

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Restaurants Are Suing Grubhub

11.02.20 - Restaurants are suing Grubhub for listing them without permission. Two restaurant owners have filed a $5 million lawsuit against the delivery service Grubhub. The owners previously turned down a partnership with Grubhub and say that the company’s actions have caused order confusion and reputational damage to their businesses. The lawsuit claims that similar false listings have victimized at least 150,000 other restaurants

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We're Still Disinfecting Everything

11.02.20 - It feels as if it’s been a lifetime since the pandemic initially hit American shores, but as coronavirus cases rise again, many people are still wiping down surfaces like crazy and that's continuing to boost sales for Clorox

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Germ Bonanza I

10.26.20 - Personal Protective Equipment has become a bonanza of absurd proportions. The global economy threw itself into high gear virtually overnight to cash in on the demand for pandemic equipment. One county has stood out among the others raking in billions for its already-dominant position in the rubber glove industry, Malaysia

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Cineworld Group Suspends Operations

10.05.20 - Cineworld Group, the owner of Regal Cinemas, will suspend operations at all of its theaters in the United States and the United Kingdom beginning at the end of this week - which will affect 45,000 employees of the company

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London's Not Calling - Uber Competitor Denied License

10.05.20 - London transport officials have refused to grant a new license to Ola over safety concerns, stating that the Indian ride-hailing app is not "fit and proper to hold one."

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Consumers Go Retro

09.14.20 - Vinyl records are no longer a nostalgic relic of the past. According to new data from the Recording Industry Association of America (RIAA), vinyl sales are outpacing CD sales in the United States for the first time in over 30 years. Sales of vinyl records accounted for about $230 million of all music sales in the first half of this year, compared to CDs which brought in just under $130 million

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Oracle Moves to Make Deal With TikTok

09.14.20 - TikTok and Oracle are preparing to become partners in the United States as a deal has been struck to satisfy national security concerns raised by officials in the US government. An executive order was signed last month seeking to ban TikTok in the United States and require that the companies US operations be separated from its Chinese parent company, ByteDance

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"Netflix of China" Accused of Fraud

08.17.20 - Investors have signaled an extreme cautiousness towards iQiyi, the online streaming provider often referred to as the "Netflix of China," as the SEC investigates allegations of inflated earnings

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Stimulus Sneakers

08.10.20 - Consumers now have more money in their pockets due to government stimulus checks — and apparently many are using it at malls and online to buy new sneakers, which is great news for companies like Foot Locker. The sneaker chain previewed its second-quarter results Monday ahead of the official release, saying sales were much better than expected and added it will actually report a profit

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Drama Between The Golden Arches

08.10.20 - Former McDonald's CEO Steve Easterbrook misled the McDonald’s board about his relationships with employees, the company has alleged in a new lawsuit. He lied to investigators about engaging in sexual relationships with three employees in the year before his ouster, according to released documents

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A New Billionaire Every Week

07.27.20 - In Mainland China, the markets are a different story from Hong Kong. China’s IPO market is making a new billionare every week. At least 24 people have become billionaires this year through June from the country’s raging market for initial public offerings, including former teachers, accountants and software developers

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Under Armour Facing Civil Charges

07.27.20 - Under Armour, the famous sportswear company, recently received a notice stating that they could face civil charges for past accounting practices. The notice was directed at two of the companies highest-ranking executives

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Japan Paying Companies Billions to Leave China

Japan’s government will begin subsidizing some companies to invest in factories in Japan and South-East Asia as part of efforts to reduce reliance on manufacturing in China

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24 Years Later Ford Brings Back the Bronco

07.13.20 - Jeep has the wildly popular Wrangler, Land Rover just brought back the Defender in 2020, now Ford has tipped its hand for the grand unveiling of the 2021 Bronco. The Jeep Wrangler hasn't had competition in years and it has sold millions of them. Now Ford threatens to eat half of that market. After leaving Jeep to dominate this market for decades, Ford has it's work cut out for it

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Fisker Goes Public

07.13.20 - Fisker, an electric vehicle maker and considerably smaller rival to Tesla, is expected to become a publicly-traded company following a merger backed by private equity firm Apollo Global Management

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BP Betting On Green Future

06.29.20 - British Petroleum (BP) has agreed to sell its petrochemicals business to Ineos for $5 billion, as BP intends to sell a series of asset to refocus on cleaner energy. Ineos will fork over an initial payment of $400 million, BP announced in a statement Monday. The UK chemicals company Ineos will subsequently deliver an additional $3.6 billion once the sale is completed, and the final $1 billion will be due before June 2021

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McDonalds is Assembling An Army

06.22.20 - McDonald's plans to hire 260,000 people this summer in the United States as it begins to open up normal operations for the first time since the lockdown was put in place as a response to the COVID-19 pandemic

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24 Hour Fitness Files For Chapter 11

06.15.20 - Gym chains nationwide have been severely impacted after the Covid-19 pandemic forced them to completely shut down their gyms and workout facilities for months. In May, Gold’s Gym filed for bankruptcy after releasing a statement saying that the current pandemic had greatly affected the global chain. The month before filing for bankruptcy Gold’s was forced to permanently close down 30 locations. The company did, however, reassure that they fully expect to emerge from bankruptcy in August

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Airline Industry Prepares For Emergency Crash Landing

06.08.20 - Plummeting demand for travel has forced two major US carriers — Delta Air Lines and American Airlines — to gut their workforces through voluntary exit programs and layoffs

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Hertz Files for Bankruptcy

05.26.20 - Hertz, the American car rental company, has announced it has filed for bankruptcy due to the sudden shock brought about by the current pandemic – especially to the travel industry. The company has been around renting cars since 1918, when it opened up with a dozen Ford Model Ts. The company stated that it has no intention of shutting down, but rather the bankruptcy is intended to assist in restructuring it debts to emerge financially healthier

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Airline Industry in Tailspin

05.11.20 - Under normal circumstances, workers within the airline industry have some of the highest job security of any field. Today, they are quickly becoming the most at-risk of losing their job. Executives throughout the industry have been straightforward that job cuts are coming, with some estimating that up to a one-third of the industries jobs could be cut

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