Macy's will close these five stores following layoffs of more than 2,300 employees
Macy’s has plans for a handful of locations to permanently close up their shops. The five closures come as part of a move that will also include the retailer axing about 2,350 jobs.
Premature to think Fed rate cuts are around the corner: Mary Daly
San Francisco Federal Reserve President Mary Daly gives her outlook on the U.S. economy and discusses the Fed's interest rate plan on 'Making Money.'
Sports Illustrated lays off 'significant' amount of staff after license revoked, owner vows to continue brand
The future of the Sports Illustrated is uncertain as "possibly all" staff will be laid off, after the magazine's publisher missed a payment, effectively breaking a licensing deal.
Wayfair to cut 1,650 jobs a month after CEO says employees should be 'working long hours'
E-commerce home goods retailer Wayfair said it will cut jobs and expects its restructuring plan, which started in August 2022, to save more than $280 million.
Walmart to give US store managers a raise
Walmart announced that U.S. store managers will see a salary increase from $117,000 to $128,000 annually and will get larger bonuses beginning on February 1, 2024.
Macy's to slash 2,350 jobs, close 5 stores in move to embrace technology: report
Macy's is planning to cut 2,350 jobs and close five stores, The Wall Street Journal reported on Thursday, as the company moves to embrace more technology.
Google sheds hundreds of employees as sales team restructures
Google will lay off hundreds of employees as it restructures its advertising-sales team and gears up to compete with other tech giants in the artificial intelligence space.
Jobless claims tumble to lowest level since 2022
The Labor Department reported Thursday that jobless claims fell to the lowest level since mid-2022, underscoring the resilience of the U.S. labor market.
BlackRock says 'mega forces' like AI, green energy transition are sparking structural economic changes
Massive financial asset manager BlackRock is warning that major forces, like artificial intelligence and green energy, are driving change across the economy.
House committee warns DOL new independent contractor rule threatens small businesses
The House Committee on Small Business is joining business and trade groups in urging the Department of Labor to reconsider its new rule on classifying independent contractors.
Your work bonus could be much smaller this year
Companies are offering smaller year-end bonuses to millions of workers as they grapple with the gradually easing labor market and still-high inflation.
Fishing companies sound off, sue Commerce Dept. over government oversight costs
The Department of Commerce is facing lawsuits from fishing companies regarding payment of government overseers. Fox Business' Lydia Hu with the details.
AI can be 'our savior' for this long period of slow growth, says Kristalina Georgieva
International Monetary Fund Managing Director Kristalina Georgieva provides her outlook on the global economy, challenges facing China and the impact of artificial intelligence
You've been promoted but may decline the offer. Can you? Should you?
When workers are offered promotions, should they decline the opportunity? For some, the timing or the circumstances may just not be right. Job experts weigh in on this career conundrum.
Fed soft landing is not common, but possible: Nancy Tengler
Laffer Tengler CEO and Chief Investment Officer Nancy Tengler reveals what stocks she is buying as the Fed tries to get inflation under control on 'Making Money.'
IMF warns AI will impact 60% of US jobs, increase inequality worldwide
A new report from the International Monetary Fund estimates generative artificial intelligence will affect around 60% of U.S. jobs and warns it could deepen inequality globally.
The 'old American Dream died,' Realtor details salary needed to buy a home, afford a middle class life in 2024
Orlando realtor Freddie Smith discusses how owning a home and living a typical middle class life has become increasingly unattainable for most millennials and older Gen Z.
Citigroup announces elimination of 20,000 jobs after losses
Citigroup on Friday said it will slash 20,000 jobs. The reductions will happen 'over the medium-term,' something that should ultimately bring its expenses down by $2-2.5 billion, Citi said.
Fed should not cut rates at all, they might raise them: Kenny Polcari
SlateStone Wealth chief market strategist Kenny Polcari discusses whether Fed rate cuts are still on the table as inflation ticks up on 'Making Money.'
Google lays off hundreds of workers
Google is cutting hundreds of roles within its voice assistant, augmented reality hardware and central engineering teams as it invests in its biggest priorities.