(Brands & Consumers)
Job listing website Indeed.com will cut approximately 2,200 employees, representing almost 15% of its total workforce, the company has announced, as reported on CNN. “The cuts come from nearly every team, function, level and region,” at the company, CEO Chris Hyams said in a memo released by the company. “The specific decisions on who and…
China said it would “firmly oppose” any forced sale of TikTok, in its first direct response to demands by the Biden administration that the app’s Chinese owners sell their share of the company or face a ban in its most important market. As reported on CNN, the comments came as TikTok CEO Shou Chew testified…
PepsiCo has announced a $216 million multi-year investment in long-term, strategic partnership agreements with three of the most well-respected farmer-facing organizations – Practical Farmers of Iowa (PFI), Soil and Water Outcomes Fund (SWOF), and the IL Corn Growers Association (ICGA) – to drive adoption of regenerative agriculture practices across the United States. The combined impact…
In a bid to increase the impact of African women entrepreneurs, the Coca-Cola Foundation has partnered with Women in Africa (WIA) through the JAMII Femmes initiative to support 20,000 women-led businesses across African countries. As reported on The Guardian, the initiative is expected to boost business creation opportunities by improving access to vocational training, networks,…
Accenture plans to slash 19,000 jobs worldwide as it attempts to cut costs amid a gloomy economic picture. The Irish-American professional services company said in a Thursday filing that it would spend $1.2 billion in severance to cut 2.5% of its workforce over the next 18 months, and another $300 million to consolidate its office…
Old-school advertising agency WPP has today moved to bolster its status in the social media space by acquiring an influencer marketing agency whose co-founder last year criticised the conglomerate’s digital strategy. The marketing behemoth founded by Sir Martin Sorrell acquired Goat from private equity fund Inflexion for an undisclosed fee. Founded in 2015 and based…
One of the greatest tales of marketing and sponsorships is perhaps the legendary partnership between Nike and Michael Jordan. In 1984, Jordan was a rookie on his way to the NBA, still relatively unknown nor was anyone quite aware of his success to come… except Nike. The sporting goods company took a major chance at…
Private firms are making increased profits as the government pays millions of pounds a day to put up asylum seekers in the UK, the BBC has learned. BBC News has been told 395 hotels are being used to house asylum seekers, as arrivals to the UK rose last year. Documents show one booking agency used…
Switzerland’s biggest bank, UBS, is in advanced talks to buy all or part of its troubled rival Credit Suisse. As reported on BBC, Credit Suisse is facing a crisis of confidence and its shares have fallen sharply in recent days, after it said it had found “material weakness” in its financial reporting. An emergency $54bn…
Last Friday, the biggest failure of a US bank since the global financial crisis was playing out in real time as a major lender to the tech industry succumbed to a classic bank run. Silicon Valley Bank’s customers were frantically pulling their money from the California-based lender before US regulators intervened to take control. But…
