All articles tagged with #cost restructuring
Swedish automaker Volvo plans to cut 3,000 white-collar jobs as part of a cost-reduction strategy amid trade uncertainties and tariff threats, aiming to improve its financial position and adapt to market challenges, especially in the US where tariffs could impact its electric vehicle sales.
Dick's Sporting Goods reported a 23% drop in profits and lowered its earnings guidance for the year due to increased retail theft and slow sales in its outdoor category. The company fell short of Wall Street's estimates and announced cuts to its global headcount. Dick's expects inventory shrink to worsen before improving and plans to reinvest in talent and technology. Despite the profit loss, the retailer still expects gross margins to increase for the full year.
Alphabet CEO Sundar Pichai received $226 million in total compensation in 2022, with most of it coming from stock awards. The compensation package also included $6 million for personal security. Other Alphabet and Google executives received $22 million to $35 million in annual stock awards. This news comes as Alphabet is implementing cost restructuring measures, including layoffs and cutting back on employee laptops and services.