"WBD may experience more substantial losses of employees and talent during the pre-closing period" if it picked Paramount's bid over Netflix's, the WBD board of directors wrote in an SEC filing released on Tuesday morning. It flagged the same issue in a January filing. Although WBD chose Netflix's acquisition offer for its studio and HBO assets, the company is formally giving Paramount one more chance to raise its bid for the entire company, after nine previous offers.
Carl Eschenbach has stepped down as Workday CEO and been replaced by co-founder and executive Aneel Bhusri following a round of job cuts and share price volatility. In a statement [PDF] to investors, the company said Eschenbach is set to get an aggregate lump sum cash payment of $3.6 million, including cash severance benefits. Workday provides enterprise HR and finance software as a service. Like many SaaS vendors, its value has been hard hit over the last week as investors consider the impact of AI on the market.
Amazon is preparing to cut thousands more jobs as part of a sweeping overhaul driven by artificial intelligence and internal restructuring, according to reports. The world's largest retailer is expected to announce a second round of layoffs as soon as next week, following the removal of 14,000 white-collar roles in October. The latest cuts are expected to be of a similar scale, taking Amazon closer to its longer-term goal of shedding around 30,000 positions.
In a statement to Reuters, Tesla Germany stated that there has been no significant reduction in permanent staff at its Gigafactory in Grünheide compared with 2024, and that there are no plans to curb production or cut jobs at the facility. "Compared to 2024, there has been no significant reduction in the number of permanent staff. Nor are there any such plans.
Days before the 2026 tax filing season begins, the head of the IRS announced a shake-up Tuesday, saying the personnel and operational changes are intended to improve taxpayer service and modernize the agency. The timing of the announcement coincides with a critical moment for the agency, as the IRS prepares to process millions of tax returns while simultaneously implementing major tax law changes under the tax and spending package President Donald Trump signed into law last summer.
Senior partners at the global management consulting firm, which has been steadily cutting its worldwide workforce over the past few years, are understood to have held initial talks with the heads of non-client-facing departments about shrinking their teams by as much as 10 per cent. A McKinsey spokesman would not confirm how many roles were at risk, but Bloomberg, which first reported the plans, estimated that there could be "a few thousand" layoffs staggered over the next 18 to 24 months.
Paramount is the latest company to join the bloodbath of layoffs this week. The entertainment giant began cutting around 1,000 workers on Wednesday, with twice that many pink slips expected in the days to come. In a memo to staff, new Paramount CEO David Ellison characterized the reductions, which will ultimately shrink the company by 10%, as a necessary step for the company's long-term growth.
One of the world's biggest windfarm developers will cut its workforce by a quarter in the next two years after a series of setbacks for the industry. Danish wind giant rsted plans to remove about 2,000 positions from its 8,000-strong workforce by the end of 2027 through a combination of redundancies, natural attrition and selling off parts of its business.
A backend nerve center for the government with procurement, technology and real estate duties that cross agencies, GSA was an early stronghold for the controversial DOGE effort. Tech billionaire and then-DOGE head Elon Musk himself visited the agency in January. DOGE associates were even spending nights in a GSA building in D.C., although during Ehikian's first town hall at the agency, he told employees that there was no DOGE team at GSA when asked about the efficiency group.
