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Amazon CEO Andy Jassy told hundreds of thousands of his employees on Tuesday that generative AI is coming for their jobs and that their best bet is to embrace the technology. “Those who embrace this change, become conversant in AI, help us build and improve our AI capabilities internally and deliver for customers, will be … Read more
Mikael Sjoberg | Bloomberg | Getty Images Sweden-based automaker Volvo Cars on Monday said it would cut around 3,000 jobs as part of a major cost-cutting drive. The move comes after the company, which is owned by China’s Geely Holding, announced an 18 billion Swedish kronor ($1.89 billion) cost and cash action plan late last … Read more
Mikael Sjoberg | Bloomberg | Getty Images Swedish-based automaker Volvo Cars on Tuesday announced cost-cutting plans of 18 billion Swedish krona ($1.87 billion) as its operating profit fell sharply in the first three months of the year. Volvo Cars, which is owned by China’s Geely Holding, reported first-quarter operating profit of 1.9 billion krona, down … Read more
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Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Protesters gathered outside Tesla showrooms across the US on Saturday to demonstrate against the drastic cuts Elon Musk, the billionaire adviser to President Donald Trump, is imposing on the federal government. Organisers cited 37 protests … Read more
Dimon and Musk’s collaboration comes just weeks after Dimon offered to help the billionaire with his government cost-cutting initiative. Read More
Tokens inspired by “efficiency” have become quite an expensive mess for investors. Meme coins named after the nascent Department of Government Efficiency — an early-stage agency devoted to cost-cutting measures under the incoming Trump administration — plummeted Sunday. One DOGE token, which formed in 2024 as a satirical take on government spending and bureaucracy, experienced … Read more
Nissan will be the victim of cost-cutting “carnage” if it combines forces with Japanese peer Honda, former Nissan CEO Carlos Ghosn told CNBC on Tuesday. “I think, without any doubt, Honda is going to be in the driver’s seat, which is very sad to see after having led Nissan for 19 years [and] brought Nissan … Read more
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