Fidelity National Information Services Inc. plans to dismiss thousands of workers as part of incoming Chief Executive Officer Stephanie Ferris’s strategy to win back investor confidence. The fintech giant has seen its stock price slump by 44% this year, and Ferris is hoping to turn things around.
Even though companies are spending more on pay raises in a tight labor market, those increases aren’t yet keeping up with inflation.
Twitter Inc. announced on Thursday that it was temporarily closing its offices after Elon Musk issued employees an ultimatum: Stay with the company and work long hours at high intensity, or quit and receive three months' severance pay.
Despite a cooling economy, rising mortgage rates and mass layoffs, executives still demand expanded office presence and increased flexibility for office workers, according to a new report from Ernst and Young (EY).
Sea Ltd. has reduced its workforce by around 7,000 employees, or approximately 10%, over the past six months in an effort to cut losses and regain investor confidence, according to a source familiar with the situation.