All posts tagged: slashes

Meta Slashes 8,000 Jobs, or 10% of Its Workforce, as Microsoft Offers Buyouts

Meta Slashes 8,000 Jobs, or 10% of Its Workforce, as Microsoft Offers Buyouts

Published by Sam Flores

Meta is laying off about 8,000 workers, or about 10% of its workforce, the company said Thursday as it continues to ramp up spending on artificial intelligence infrastructure and highly paid AI-expert hires. The company said it was making the cuts for the sake of efficiency and to allow new investments in parts of its business, as first reported by Bloomberg, which also said the company will leave about 6,000 jobs unfilled. Also Thursday, Microsoft said it was offering voluntary buyouts to thousands of its U.S. employees. The software giant plans to make the offers in early May to about 8,750 people, or 7% of its U.S. workforce, according to two people familiar with the plan who were not authorized to speak about it publicly. While an alternative to the sudden layoffs removing tech workers from peers like Meta and Oracle, the savings are likely tied to a similar industry upheaval that is requiring huge spending on the costs of artificial intelligence. Meta has already warned investors that its 2026 expenses will grow significantly — …

German government slashes growth forecast amid Iran war fallout – POLITICO

German government slashes growth forecast amid Iran war fallout – POLITICO

Published by Sam Flores

Inflation to rebound Rising energy prices will likely push inflation back toward 3 percent this year and next, the government said — prompting financial markets to expect two European Central Bank rate hikes this year. ECB officials say they won’t overreact to what may be a short-lived blip, but have warned that they will raise rates if they see any signs of inflation taking root again, only four years after the last such shock. German Economy Minister Katherina Reiche — whose past employment at energy giant E.ON has made her a target for criticism from the left and environmentalists — was quick to blame factors beyond her control for the latest downgrade. “The recovery that we expected this year will once again be derailed by external geopolitical shocks,” Reiche told a press conference. “The war in Iran is driving energy and commodity prices through the roof. That is hurting households and raising costs for the German economy.” However, German business and independent economists have both accused the government of failing to do what is in …

Workhorse slashes prices by ,000 as Purolater buys 100 vans

Workhorse slashes prices by $60,000 as Purolater buys 100 vans

Published by skeptic

Commercial fleet operators scrambling to electrify in the face of rising diesel prices can buy a Workhorse W56 step van for nearly $60K less than before – and Ohio-based Purolator is taking advantage of the deal with a stout, 100-unit order. Electric fleet truck brand Workhorse first announced plans for a more affordable, 140 kWh version of its medium duty electric work truck last month. Now, the company is making the 210 kWh versions of its trucks more affordable, too, cutting $59,000 from its 178″ Standard Wheelbase and $61,000 from its 208″ Extended Wheelbase W56 vans through September. That’s a deal being made even sweeter by soaring gas and diesel prices – sweet enough, it seems, for Ohio-based delivery and logistics firm Purolator to place an order for 100 of the zero-emission box trucks. “Purolator has a longstanding commitment to adopting new and innovative technologies to make their fleet more efficient and sustainable, and we are honored to continue to support them,” said Scott Griffith, chief executive officer at Workhorse. “This is Purolator’s fourth order over a …

Euroskeptic think tanks on the rise as Brussels slashes funding for pro-EU groups – POLITICO

Euroskeptic think tanks on the rise as Brussels slashes funding for pro-EU groups – POLITICO

Published by Sam Flores

“There was little concern from the European Commission or affiliated organizations and think tanks when progressive NGOs in Europe received substantial support from the United States (including via USAID and other programs),” he said. “Only now, when funding may reach their political opponents, is it being framed as ‘foreign interference.’” Broader cuts Zuleeg, the EPC chief, said the non-renewal of the CERV money, which amounts to around €250,000 per year, would mean the organization cuts back on work related to topics such as democracy and citizens’ participation. And while he made a distinction between think tanks, which organize events or commission research, and NGOs, which do the same but tend to advocate for a specific cause, Zuleeg said that the CERV grant cut “does also reflect in part, the controversy around funding going to advocacy organizations.” Flags from the 27 countries of the EU in front of the European Parliament in Brussels in April 2025. | Thierry Monasse/Getty Images That’s a reference to increased scrutiny from the same right-wing groups, as well as conservative politicians, …

OpenAI Snaps Up TBPN, Slashes ChatGPT Pricing As Secondary Market Interest Fades

OpenAI Snaps Up TBPN, Slashes ChatGPT Pricing As Secondary Market Interest Fades

Published by Jenni Sidey

Update (1400ET): In a surprise move, OpenAI has acquired TBPN (Technology Business Programming Network), the influential daily technology talk show and media platform hosted by John Coogan and Jordi Hays. TBPN has become one of Silicon Valley’s most-watched programs for real-time tech news, M&A rumors, high-profile executive interviews, and AI developments – often described as “SportsCenter for the tech industry.” The deal gives OpenAI a powerful owned-media channel to directly reach and engage the tech community while accelerating global conversations around AI. The show will continue unchanged: live weekdays from 11 a.m. to 2 p.m. PT on YouTube and X, with Coogan and Hays retaining full creative control and editorial independence. TBPN has been acquired by OpenAI The world is changing quickly but TBPN will stay the same. Live every weekday just with a lot more resources. Thank you to everyone that has been a part of this journey big or small. We are 17 months in and unironically just getting started. pic.twitter.com/TLvPxxMGVe — Jordi Hays (@jordihays) April 2, 2026 Coogan, who has a long personal …

City slashes rate cut prediction after energy shock

City slashes rate cut prediction after energy shock

Published by Sam Flores

The missile strikes in the Middle East have raised doubts about how far the Bank of England will cut interest rates just as the latest data indicate that cracks have begun to appear in the mortgage market. Mortgage approvals fell to a two-year low in January in a fresh sign of shaky consumer confidence in the face of high taxes. The number of loans approved for home purchase dropped below 60,000 for the first time since January of 2024, according to the Bank of England. It came despite the average interest rate on new mortgages falling to 4.09pc, the lowest level since the start of 2023, when borrowing costs were spiralling upward in the wake of Liz Truss’s mini-Budget. The drop in mortgages, which indicates fewer households seeking to move, indicates the uncertainty cast by the Budget in November is lingering, said Martin Beck, chief economist at WPI Strategy. “We’re a long way from a boom in lending. Mortgage rates remain high relative to most of the past 15 years, unemployment is edging up, especially …

Met Opera slashes season to lowest in 60 years amid financial strain

Met Opera slashes season to lowest in 60 years amid financial strain

Published by Daniella Wilson

Get the latest entertainment news, reviews and star-studded interviews with our Independent Culture email Get the latest entertainment news with our free Culture newsletter Get the latest entertainment news with our free Culture newsletter The Metropolitan Opera is set to present its fewest productions in at least 60 years for the 2026-27 season, despite reporting encouraging box office figures for the current period. The decision underscores the financial pressures facing the venerable institution, even as audience engagement shows signs of recovery. Announcing its programme on Thursday, the Met confirmed it will stage just 17 productions, marking its lowest total in a non-abbreviated season since relocating to Lincoln Center in 1966. The schedule includes only five new stagings, with revivals of three popular operas – Puccini’s Tosca and La Bohème, and Verdi’s Aida – accounting for a significant 71 of the 187 individual performances, or 38 per cent of the total. Met general manager Peter Gelb explained the strategic shift: “It makes more sense for us, and this is an experiment — to present these works …

Databricks’ serverless database slashes app development from months to days as companies prep for agentic AI

Databricks’ serverless database slashes app development from months to days as companies prep for agentic AI

Published by skeptic

Five years ago, Databricks coined the term ‘data lakehouse’ to describe a new type of data architecture that combines a data lake with a data warehouse. That term and data architecture are now commonplace across the data industry for analytics workloads. Now, Databricks is once again looking to create a new category with its Lakebase service, now generally available today. While the data lakehouse construct deals with OLAP (online analytical processing) databases, Lakebase is all about OLTP (online transaction processing) and operational databases. The Lakebase service has been in development since June 2025 and is based on technology Databricks gained via its acquisition of PostgreSQL database provider Neon. It was further enhanced in October of 2025 with the acquisition of Mooncake, which brought capabilities to help bridge PostgreSQL with lakehouse data formats. Lakebase is a serverless operational database that represents a fundamental rethinking of how databases work in the age of autonomous AI agents. Early adopters, including easyJet, Hafnia and Warner Music Group, are cutting application delivery times by 75 to 95%, but the deeper …

Toyota supplier Denso slashes full-year operating profit forecast on higher costs

Toyota supplier Denso slashes full-year operating profit forecast on higher costs

Published by Sam Flores

TOKYO, Feb 3 : Japan’s Denso, a major auto parts supplier to Toyota, slashed its full-year operating profit forecast by nearly a fifth, reflecting a drag from U.S. import tariffs and a hit from rising material and fixed costs. The company cut its forecast for the fiscal year ending in March by 17.8 per cent to 535 billion yen ($3.44 billion) from a previous estimate of 651 billion yen. The world’s second-largest maker of vehicle parts generates about 56 per cent of its revenue from Toyota group companies. Denso shares fell after it released its reduced operating profit forecast, finishing the morning session down 1.5 per cent. Its shares were 1.6 per cent higher before the disclosure. Even after the forecast cut, both full-year operating profit and revenue, which was revised upward, were expected to reach record highs, Chief Financial Officer Yasushi Matsui said. The company said a positive impact from the yen’s exchange rate helped offset rising cost pressures and a smaller-than-expected impact from the measures it is taking to counter U.S. tariffs. For …

Kia slashes EV prices with aggressive new deals and more

Kia slashes EV prices with aggressive new deals and more

Published by skeptic

Kia is cutting EV prices and rolling out new financing deals in response to similar moves from rivals, including Tesla. Kia cuts EV prices in Korea to fend off the competition With over 3.13 million vehicles sold globally in 2025, Kia is coming off its best sales year since it started selling cars over 80 years ago. While many global OEMs recently scaled back on major electric vehicle plans, Kia is doubling down with a series of low-cost, mass-market EVs. To stay competitive as new competitors emerge, Kia is cutting prices in nearly every market, offering generous financing rates, and running other promotions. Advertisement – scroll for more content In its home market, Kia stepped up its offering on January 22, following Tesla’s price cuts right before the new year. Kia slashed prices on some of its most popular EV models by up to 3 million won ($2,000). The company also introduced an “ultra-low interest rate installment plan” with 0% interest and the option to defer up to 60% of the vehicle price. From left …