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Macy’s on Thursday said it will cut about 3.5% of its workforce and close five of its namesake mall locations as the legacy department store moves to trim costs and turn around slowing sales. The move will affect approximately 2,350 positions across its corporate office and stores, company spokesman Chris Grams said. “As we prepare to deploy a new strategy to meet the needs ...
Sales of previously owned homes fell 1% in December compared with November to a seasonally adjusted annualized rate of 3.78 million units, according to the National Association of Realtors. Sales were 6.2% lower than in December 2022, marking the lowest level since August 2010. Full-year sales for 2023 came in at 4.09 million units, the lowest tally since 1995. Regionally, ...
Workers at America’s largest private employer will soon be getting raises. Walmart announced last week that the average salary for store managers will go from $117,000 to $128,000 a year — a 9.4% increase. They will also be eligible for bonuses up to 200% of base salary, based on individual store sales and profit. A spokesperson for Walmart told NBC ...
Netflix and TKO Group Holdings said Tuesday that the streaming platform will air the WWE’s flagship program ‘Raw’ starting next year, in Netflix’s first major foray into live sports. The 10-year deal is valued at more than $5 billion, according to a company filing. Netflix will have the option to exit the deal after five years and to extend it for another decade. ...
U.S. regulators have barred TurboTax maker Intuit Inc. from advertising its services as ‘free’ unless they are free for all customers, or if eligibility is clearly disclosed. In an opinion and final order issued Monday, the Federal Trade Commission ruled that Intuit engaged in deceptive practices by running ads claiming consumers could file their taxes for free using TurboTax though many people ...
EBay said Tuesday that it plans to lay off 9% of the company’s workforce, equal to about 1,000 full-time jobs, as the tech industry continues to downsize to start 2024. The stock rose more than 3% in extended trading. Jamie Iannone, eBay’s CEO, told employees in a letter published on a corporate blog, that the company will also “scale back the number ...