Companies — profitable or not — make 2024 the year of cost cuts
Publishing timestamp: 2024-02-18 07:00:01
Summary
Many companies, including Nike, Mattel, PayPal, and Cisco, are announcing layoffs and cost-cutting measures in response to inflation and changing consumer demand. Companies across various sectors are tightening their belts and focusing on driving profits higher without relying on price increases. The trend of layoffs and cost reductions is expected to continue as companies search for equilibrium in the post-pandemic economy.
Sentiment: MIXED
Tickers: DIS, EL, MSFT, F, WMT, WBD, GS, M, .SPX, JBLU, HD, WFC, SAVE, CSCO, HAS, PYPL, STLA, MAT, GOOGL, UPS, NKE, CMCSA, UAL, GM, LEVI, STLAM-IT, CMG, TGT, DAL, NVDA, AMZN, META, PARA,
Keywords: banks, paypal holdings inc, autos, walmart inc, stellantis nv, target corp, nike inc, s&p 500 index, general motors co, earnings, paramount global, cisco systems inc, technology, business, mattel inc, united parcel service inc, spirit airlines inc, microsoft corp, alphabet inc, media, comcast corp, warner bros discovery inc, labor economy, home depot inc, restaurants, chipotle mexican grill inc, walt disney co, breaking news: business, airlines, levi strauss & co, breaking news: markets, united airlines holdings inc, hasbro inc, amazon.com inc, estee lauder companies inc, wells fargo & co, carol tome, meta platforms inc, personnel, layoffs, macy's inc, mark zuckerberg, economy, delta air lines inc, business news, goldman sachs group inc, travel, ford motor co, jetblue airways corp, markets, retail industry, nvidia corp,
Source: https://www.cnbc.com/2024/02/18/companies-2024-cost-cuts.html