Workers unload Amazon packages from a vehicle on Cyber Monday in New York, US, on Monday, Dec. 1, 2025. Bess Adler | Bloomberg | Getty Images Amazon said on Wednesday it was cutting 16,000 jobs worldwide in the second major round of layoffs at the company in three months, as it restructures after pandemic-era over-hiring…
A shopper carries a Nike bag in the Union Square neighborhood of San Francisco, Jan. 21, 2026. David Paul Morris | Bloomberg | Getty Images Nike is cutting 775 employees as the company looks to boost its bottom line and accelerate its use of “automation,” CNBC has learned. The layoffs, which are in addition to…
Near expansive aisles of home improvement supplies, some of Lowe’s tiniest shoppers worked this Saturday on do-it-yourself projects of their own. The children, some as young as 3, sported miniature versions of the retailer’s signature red aprons while hammering together washing machine-themed piggy banks at the retailer’s kids’ workshop at the company’s store in North…
Procter & Gamble on Thursday reported mixed quarterly results as demand for its Gillette razors and Pampers diapers fell. The company also tweaked its earnings outlook for fiscal 2026. P&G now expects net earnings per share growth in the range of 1% to 6%, down from its prior forecast of 3% to 9%. The company…
FILE PHOTO: Fashion designer Valentino Garavani arrives for the 2012 New York City Ballet Fall Gala at the Lincoln Center in New York September 20, 2012. Andrew Kelly | Reuters A mix of carmine and scarlet, with a hint of orange — a new hue, inspired by an elderly woman at Barcelona’s opera house, whose…
Amazon package and Saks Fifth Avenue bag. Getty Images Amazon wants a federal judge to reject Saks Global’s bankruptcy financing plan, writing in court papers the beleaguered department store “burned through hundreds of millions of dollars in less than a year” and failed to hold up their agreement. When Saks acquired Neiman Marcus for $2.7…
For more than a decade, the former executive chairman of Saks Global dreamed of adding Neiman Marcus to his collection of legacy department stores, believing the combined entities would create a luxury powerhouse strong enough to defy changes dragging down the industry. Instead, Richard Baker’s $2.7 billion acquisition of Neiman Marcus in 2024 ultimately plunged…
Saks Global, the parent company behind the 159-year-old department store that’s become both a destination and a symbol for luxury fashion, filed for Chapter 11 bankruptcy protection on Wednesday after an unsustainable debt pile crushed its business. The company also announced former Neiman Marcus CEO Geoffroy van Raemdonck will immediately take over as chief executive,…