Tag

Cost Cutting

All articles tagged with #cost cutting

business12 days ago•2 min saved

BAT bets on AI to trim costs, cutting about 9,000 jobs

British American Tobacco will slash about 9,000 roles (roughly 19% of staff) as part of a transformation to become more digital and AI-enabled, with 5,500 cuts and 3,500 outsourced, targeting £600m in annual cost savings by 2028. US operations will be spared; BAT has previously partnered with Accenture for outsourcing and AI solutions, while shifting investment toward nicotine alternatives and smoke-free products amid falling traditional cigarette volumes.

via The Guardian|

#ai #business #cost-cutting

business12 days ago•0 min saved

BAT toaxe nearly 9,000 jobs in pivot to digital, vaping focus

British American Tobacco will cut about 9,000 roles (5,500 directly and 3,500 via outsourcing), equivalent to roughly a fifth of its global workforce, as part of a cost-cutting drive to be more digital and AI-focused. The savings target is around £600 million a year by 2028. The US operations are not affected, and BAT, which employs about 47,000 people, is shifting toward smoke-free products like Vuse and Velo as traditional cigarette sales decline, though overall sales and margins have been sluggish amid consumer shifts and higher US living costs.

via BBC|

#ai #business #cost-cutting

business14 days ago•2 min saved

VW plans 100,000-job cut and four plant closures in sweeping overhaul

Volkswagen reportedly aims to cut about 100,000 jobs (roughly 15% of its workforce) and end production at four German plants (Hanover, Zwickau, Emden, and Audi’s Neckarsulm) as part of a broader five-year cost-cutting plan that includes roughly 130 billion euros in capex reductions. The move comes amid intensifying competition from Chinese brands and faces pushback from unions and the Works Council, though VW says decisions will be made by governing bodies and that a 2024 agreement to avoid factory closures and compulsory redundancies until 2030 remains in place.

via CNBC|

#automotive-industry #business #cost-cutting

media24 days ago•19 min saved

BBC Moves to Save £500M: Show Cancellations and Mass Staff Cuts Ahead

BBC chief Matt Brittin unveils a plan to cut £80M in commissioning spend in 2027–28 and £500M over the next three years, reviewing TV channels and radio networks, potentially cancelling programmes, and slashing 1,800–2,000 jobs (about 550 in News/Nations and 700 in corporate) as the corporation grapples with online audience shifts and a licence-fee funding gap.

via Deadline|

#bbc #cost-cutting #layoffs

business24 days ago•38 min saved

Centene Moves to Cut Costs with Companywide Buyouts

Centene is offering a companywide voluntary buyout program to trim payroll costs as part of broader cost-cutting efforts in its healthcare business.

via Forbes|

#business #buyouts #centene

business27 days ago•1 min saved

GameStop Halts Pro Points for New Members, Extends Pause Through August

GameStop is changing its Pro Membership rewards: new Pro members will stop earning Pro Points starting July 15, and current members will cease accruing on August 15, after the program previously offered about 2% back as points. The changes, reported by Kotaku and discussed on Reddit, appear to be a cost-cutting move despite a high quarterly profit. Separately, CEO Ryan Cohen has floated a bid to buy eBay, which eBay rejected, leaving a potential hostile approach as a distant possibility.

via GameSpot|

#business #cost-cutting #gamestop

business1 month ago•30 min saved

Ubisoft San Francisco Hit by Fresh Round of Layoffs in Cost-Cutting Push

Ubisoft reportedly laid off dozens of employees at its San Francisco offices as part of ongoing cost-restructuring efforts, with estimates placing the number between 50 and 100; the San Francisco studio had closed in 2024 but remained open for roles like IT and marketing, and Ubisoft’s broader restructuring also impacted Winnipeg and Belgrade studios. Insider Gaming is seeking comment and the story is developing.

via Insider Gaming|

#business #cost-cutting #gaming-industry

business1 month ago•1 min saved

GameStop posts record quarterly profit as it eyes an eBay bid

GameStop reported its highest-ever quarterly profit of $389.6 million for fiscal Q1, with revenue of $835.3 million (up from $732.4 million a year earlier), as it continued aggressive cost-cutting and layoffs. The stock jumped over 7% in after-hours trading, and the company noted $9.7 billion in assets. CEO Ryan Cohen has floated financing to buy eBay, though eBay rejected the proposal, with hints at a possible shareholder bid; the firm no longer holds earnings calls. The report also mentions a Halo 3 tournament as a side note.

via GameSpot|

#business #cost-cutting #ebay

technology1 month ago•78 min saved

Meta Slashes Jobs as AI Budget Rises

Meta Platforms is expanding layoffs while boosting investment in AI, signaling a shift to fund AI initiatives by reallocating resources from staff.

via Yahoo Finance|

#artificial-intelligence #cost-cutting #layoffs

business1 month ago•2 min saved

StanChart charts leaner path: 15% corporate-role cut by 2030 to lift returns

Standard Chartered will cut more than 15% of its corporate-function roles by 2030 to lift income per employee about 20% by 2028 and target ROE of ~15% in 2028 and ~18% in 2030. Of ~82,000 employees, about 52,000 work in support roles. CEO Bill Winters says the move funds sustainable growth and higher-quality returns; Jefferies calls the targets conservative. The bank recently posted a 17% profit rise but took a $190 million charge tied to Middle East conflict and is expanding Middle East trade, along with a new $300 million IFC-backed risk-sharing facility to bolster Africa’s supply chains.

via CNBC|

#business #corporate-functions #cost-cutting

business1 month ago•12 min saved

Starbucks slashes 300 corporate roles as part of turnaround plan

Starbucks plans to cut about 300 corporate positions and close several U.S. offices as part of a broader turnaround effort to trim costs and streamline operations, affecting its Seattle headquarters and other corporate sites while continuing to focus on its store business.

via AP News|

#business #corporate #cost-cutting

business1 month ago•3 min saved

LinkedIn Shortens the Roster and Tightens the Belt, According to an Internal Memo

LinkedIn is laying off employees across the Global Business Organization, marketing, engineering, and product teams while scaling back investments in marketing campaigns, vendor spend, customer events, and underutilized office space. The cuts, part of a broader shift to focus on high-impact priorities, will see Asia-Pacific staff notified separately and the Graz, Austria office closed. The moves come as Microsoft pursues cost-cutting efforts and the company reportedly offered buyouts to long-serving employees in related documents.

via Business Insider|

#business #cost-cutting #internal-memo

business2 months ago•2 min saved

GM trims hundreds of IT roles to reshape its tech footprint

General Motors is laying off about 500-600 salaried IT workers, primarily in Austin, Texas and Warren, Michigan, as part of a broader workforce transformation to cut costs. The company confirmed the reductions but did not provide specifics and said it will support affected employees. GM continues to hire in IT, with openings in AI and autonomous-vehicle programs, and has previously laid off CAD engineers.

via CNBC|

#business #cost-cutting #gm

business2 months ago•5 min saved

Cohen eyes eBay leadership with GameStop bid, pledging to run the company

Ryan Cohen says he intends to buy eBay and become its CEO, outlining a financing plan that uses GameStop’s cash and debt in a roughly $56 billion bid and proposing to split existing shareholders’ proceeds before rolling the rest into a GameStop–eBay merger. He argues cost‑cutting could boost eBay’s profitability and calls out what he sees as weak leadership and culture at eBay. Cohen has framed his personal frugality and public stunts as part of funding the deal, and eBay says it is reviewing the bid.

via Business Insider|

#business #cost-cutting #ebay

technology2 months ago•9 min saved

Apple Delays the iPhone 18 Standard to Extend iPhone 17’s Run, Leaker Claims

A leaker claims Apple is delaying the standard iPhone 18 due to global supply-chain shortages, downgrading its specs to cut costs, and extending the iPhone 17’s sales window. The plan reportedly includes an iPhone 18e and Air 2, with the 18 lineup launching in spring 2027 and Pro models arriving in fall 2026, as Apple aims to shore up mainstream market share against Android.

via MacRumors|

#apple #cost-cutting #iphone-18