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23.10.26 - 17:36
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Decker Outdoor Tumbles on Guidance; Amex to Cut Workforce | Stock Movers (Bloomberg)
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On this episode of Stock Movers:
- Decker Outdoor (DECK) is tumbling after the footwear company cut its net sales guidance for the full year, which also fell short of the consensus estimate.
- Kering (KER) shares are slumping after the French luxury-goods company saw further deceleration of third-quarter revenue growth at its key Gucci unit, slower growth in North America as well as persistent weakness in China.
- American Express (AXP) shares are moving on news that the company is planning to cut 5% of its global headcount. Chief Executive Officer Steve Squeri told Bloomberg TV that the move will affect about 3,500 jobs.
- Moderna (MRNA) plummeted after data on the companies' widely anticipated melanoma vaccine wasn't enough to prove to investors that a new era of cancer treatments has arrived. While the results clearly showed the vaccine worked, they weren't spectacular enough to generate confidence. (Source: Bloomberg)...
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23.10.26 - 16:54
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Tech Layoffs Surge As Corporate America′s AI Blitz Raises Fears The Worst Is Yet To Come (ZeroHedge)
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Tech Layoffs Surge As Corporate America's AI Blitz Raises Fears The Worst Is Yet To Come
Bloomberg story counts featuring terms such as "job cuts," "layoffs," and "firings" jumped Thursday to their highest level since early May.
The surge in AI-related layoff announcements shows corporate America is ramping up efforts to reduce its workforce and replace humans with chatbots and other AI-related technologies to drive efficiency.
The latest headlines span American Express on Friday morning, Barclays on Thursday, and eBay and Netflix in recent days and weeks.
The AI layoffs are here: *AMERICAN EXPRESS TO CUT 5% OF JOBS, ABOUT 3,500 EMPLOYEES *BARCLAYS TO CUT 5,000 JOBS AS AI STARTS CREATING EFFICIENCY *EBAY CONFIRMS JOB CUTS OF ABOUT 9% *NETFLIX TO LAY OFF 6% OF GLOBAL STAFF, OR ABOUT 1,000 JOBS: WSJ
— zerohedge (@zerohedge) October 23, 2026
Separately, Yahoo Tech's Katie Teague and Valentina Palladino cite data from job tracker TrueUp showing that tech companies...
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