Category: Business News

Amazon to lay off 9,000 more workers after earlier cuts

Amazon will lay off 9,000 more employees, CEO Andy Jassy said in a memo to staff on Monday.

The cuts are on top of the previous layoffs that commenced last November and extended into January. That round affected more than 18,000 employees.

Amazon made the decision to lay off more employees as it looks to streamline costs and take into account the uncertain economy, as well as the “uncertainty that exists in the near future,” Jassy said. The company just wrapped up the second phase of its annual budgeting process, referred to internally as “OP2.”

“The overriding tenet of our

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First Citizens Bank Charitable Foundation anounces donations

First Citizens Charitable Foundation, Inc. announced in a press release that 45 area organizations were the recipients of $149,950 in donations in December 2022 and January 2023.

Recipients include the following: Project Flo Association $2,000; Charles City Community Schools $1,000; Immaculate Conception School $2,000; Floyd County Historical Society $2,000; National 19th Amendment Society $5,000; Friends of Winnebago County Conservation Foundation, Inc. $5,000; YSS Francis Lauer $4,000; Mason City Fire Department $5,500; St. Ansgar Historic School Project (South Square) $1,000; Greater Iowa Youth For Christ $10,000; IOOF Home and Community Therapy Center $1,000; Grace Church $1,000; North Iowa Christian School $10,000;

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California court rules for Uber, Lyft in ride-hailing case – Business News

App-based ride hailing and delivery companies like Uber and Lyft can continue to treat their California drivers as independent contractors, a state appeals court ruled Monday, allowing the tech giants to bypass other state laws requiring worker protections and benefits.

The ruling mostly upholds a voter-approved law, called Proposition 22, that said drivers for companies like Uber and Lyft are independent contractors and are not entitled to benefits like paid sick leave and unemployment insurance. A lower court ruling in 2021 had said Proposition 22 was illegal, but Monday’s ruling reversed that decision.

“Today’s ruling is

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Facebook parent Meta slashes another 10,000 jobs – Business News

Meta slashes 10,000 jobs

The Associated Press – | Stories: 415964

Facebook parent Meta is slashing another 10,000 jobs and will not fill 5,000 open positions as the social media pioneer cuts costs.

The company said Tuesday it will reduce the size of its recruiting team and make further cuts in its tech groups in late April, and then in its business groups in late May.

“This will be tough and there’s no way around that,” said CEO Mark Zuckerberg. “It will mean saying goodbye to talented and passionate colleagues

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What is a Power of Attorney?

Many of our clients have heard of the powers of attorney, but do not know what they actually entail.

We can help you stay on top of the latest news that affects your everyday life. Subscribe to stay up to date. (To subscribe to our blog ).

It is important to know that there are different types of powers of attorney, however, they are all legal documents that allow you to pick an agent or attorney-in-fact on your behalf.

Powers of attorney allow another person to make financial, legal, and medical decisions for you, depending on the type.

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Bloomberg Media Hires New Chief Revenue Officer

The business news publisher Bloomberg Media has hired digital media executive Christine Cook as its chief revenue officer, Adweek can exclusively report.

Cook fills a role left vacant since 2019, following the departure of Keith A. Grossman and before him Paul Caine. Cook begins the role March 20.

“Having spent most of my career supporting journalism with advertising and innovation, I am inspired by Bloomberg Media’s commitment to global business journalism, which is matched by its commitment to technology and innovation in reaching its customers,” Cook said in a statement.

In the position, Cook will oversee advertising revenues across all

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Ohio sues Norfolk Southern over toxic train derailment – Business News

Suit over toxic train wreck

The Canadian Press – | Stories: 416030

Ohio filed a lawsuit against railroad Norfolk Southern to make sure it pays for the cleanup and environmental damage caused by a fiery train derailment on the Ohio-Pennsylvania border last month, the state’s attorney general said Tuesday.

The federal lawsuit also seeks to force the company to pay for groundwater and soil monitoring in years to come and economic losses in the village of East Palestine and surrounding areas, said Ohio Attorney General Dave Yost.

“The fallout from

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The world struggles to predict financial fallout from California bank collapse

As the millionaire depositors in Silicon Valley Bank got all their money back courtesy of a US government agency, there were no doubt sighs of relief among those bank customers who would otherwise have been taken a severe financial beating.

Until the US government swoops in Monday, that included the vast majority of deposits at SVB, which catered to Silicon Valley startups and venture capital firms. Deposits over $250,000 US are uninsured by the Federal Deposit Insurance Corporation or FDIC.

Even the conservative-leaning Wall Street Journal, harking back to the hundreds of billions of dollars handed out following the 2008

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