DeFI News by Thebittimes.Com

Starbucks’ closing of stores across North America represents the coffee giant’s biggest restructuring move in years, with the company announcing plans to cut 900 corporate jobs and shut down hundreds of underperforming locations as part of a $1 billion overhaul. Starbucks closing stores will trim about 1% of the company’s footprint while SBUX stock keeps getting hit by declining sales and ongoing operational struggles. SBUX Stock Performance Chart – Source: Yahoo Finance Starbucks Store Closures, Layoffs, and SBUX Stock Pressure Explained Company Targets Poor-Performing Locations Starbucks News Blog Message – Source: Starbucks CEO Brian Niccol laid out the changes in a memo to workers, explaining how the company picked which locations would face Starbucks store closures. They looked at their North American stores and flagged ones that couldn’t meet customer standards or turn a profit. Niccol stated: “During the review, we identified coffeehouses...

There is no denying that the recent performance of Intel (INTC) stock has been concerning. Since it debuted its Q2 earnings that underwhelmed investors, the technology company has falted. Tuesday, it started down another 2% at press time to reinforce investor concerns. The company’s Q3 earnings report is set to arrive on Halloween; there is some optimism for the company. However, there is no denying that they face an uphill battle within the rapidly expanding tech space. With that being said, here are 4 reasons why you should be worried about Intel stock and the future performance of INTC. Missed the Boat on AI Source: Mint Also Read: Intel: 30 Analysts Predict INTC to Keep Falling in Next 12 Months Over the last several years, the emergence of AI demand has been undeniable. This is largely due to the meteoric rise of Open AI’s ChatGPT. The generative chatbot was an instant hit, driving consumer interest in similar projects and burgeoning a new era for the sector in mainstre...

Layoffs have been a common affair over the past few weeks. As a cost reduction measure, a host of companies from the crypto space have been reducing their headcount as well. At the beginning of the month, for instance, three companies announced 10%-30% layoffs within a span of merely 12 hours. It was recently reported that Meta also caught the “layoff bug,” for it was preparing for “large-scale layoffs.” Several had been speculating that the firm’s Reality Labs division will likely lose a substantial number of members. The said metaverse division of the Meta endured a loss of about $3.7 billion during the third quarter of 2022. Now, in what is the latest development, Mark Zuckerberg confirmed that the company will begin the layoff s tomorrow . In fact, the CEO also said that he was accountable for the same. JUST IN: Mark Zuckerberg confirms $META (Facebook) will begin mass layoff s tomorrow . — Watcher.Guru (@WatcherGuru) November 8, 2...