The US-based company Dropbox Inc, known for the cloud storage service of the same name, intends to reduce its workforce by roughly 20%. The company stated on the US Securities and Exchange Commission (SEC) website that the measures aim to reorganize the team structure to match long-term growth projects and profitability goals more effectively. The layoffs are expected to cost between $63...

The company announced that James Gorman has been named as the chairman of the board of directors of Walt Disney Co. of America. He will assume the position from Mark Parker in early 2025. Gorman will lead the board of directors of Morgan Stanley until 2024. He became a member of Disney's Succession Planning Committee in 2024. The committee intends to reveal a new CEO in the beginning of 2026....

The Financial Times reports that U.S. Boeing Co. withdrew its offer to compensate striking International Association of Machinists and Aerospace Workers (IAM) members. In late September, it was announced that discussions on a new collective agreement had been halted indefinitely by the parties involved. Boeing civil aviation segment manager Stephanie Pope informed employees in a letter that the...

Boeing Co. from the US and the International Association of Machinists and Aerospace Workers (IAM) started negotiations again for a new collective bargaining agreement, as reported by Barron's. By not voting on Boeing's 'final offer,' the union has chosen not to abide by the original deadline set for the vote and has instead extended the time for ratification. The American Federal Mediation and...

According to sources familiar with the matter, Google, a subsidiary of Alphabet Inc., has reportedly agreed to pay around $2.7 billion to AI startup Character.AI for the rights to use its technology in a deal announced in August, as reported by The Wall Street Journal. The primary reason for the payment is believed to be the return of Character.AI's former employee and co-founder Noam Shazeer,...

Ted Colbert, president and CEO of Boeing Defence, Space & Security, is set to resign, as reported by ABC News. Steve Parker has been appointed as the temporary leader of BDS. Colbert spent 15 years at Boeing, first as the CIO and later leading the global services business, before assuming control of the defense division. Boeing CEO Kelly Ortberg stated in a letter to employees that the...

Volkswagen has informed the majority of its German employees represented by the IG Metall union that several labor agreements, including a job retention program until 2029, will be terminated by the end of the year, according to the Financial Times. The car manufacturer will have the ability to reduce their workforce starting in June of the upcoming year. The company had been in agreements with...

Starbucks Corp. will pay over $100 million for hiring Brian Niccol as CEO. The payment package offered to Niccol when he was hired is one of the biggest in U.S. corporate history, four times larger than his predecessor's at Starbucks, according to the Financial Times. Starbucks announced on Aug. 13 that Laxman Narasimhan will depart from the company with immediate effect. Niccol will assume the...

French bank SocGen sells units for personal banking services in Britain and Switzerland for €900 million. SocGen announced in a statement that it will sell its SG Kleinwort Hambros and Societe Generale Private Banking Suisse units, with a combined €25 billion in assets under management, to Swiss private bank Union Bancaire Privee. According to a statement from the bank, the choice aligns with...