In the final months before to Robert Iger's appointment as the new CEO of the corporation, Walt Disney collaborated with the consulting firm McKinsey & Co. The experts suggested consolidating authority over significant financial decisions made outside of the creative departments. The Walt Disney Company was planning for a reorganization based on recommendations from the consulting company...

Kraken is the third-largest cryptocurrency exchange in the world by trading volume. It will let go of almost 30% of its workforce. The company blamed the upcoming layoffs on the weakened cryptocurrency marketplaces that have emerged since FTX's demise. Kraken, the third-largest cryptocurrency exchange in the world by trading volume, will reduce its workforce by around 30%. (1,100 people), wrote...

Due to a broad downturn in the stock market and a slowdown in economic activity, some significant U.S. corporations have altered the method they award top management bonuses in order to prevent them from suffering significant financial losses, says The Financial Times. Western Digital, a manufacturer of hard drives, reported that CEO David Goeckeler received $32 million in bonuses and pay this...

The Wall Street Journal reports that BJ Kang, a former FBI special agent, has been hired by Binance, the largest cryptocurrency exchange in the world, to lead the department in charge of investigations. He will be employed by the exchange's American branch and be in charge of identifying and following any questionable transactions that go through Binance, as well as collaborating closely with...

Meta has started to lay off employees by restructuring departments and giving some a short window of time to seek for other employment. Many Google employees were required to seek for new positions in order to remain with the company. According to The Wall Street Journal, American Internet behemoths Meta and Google have mandated that staff apply for transfers to different positions at the...

Gautam Adani, an Indian industrialist, came in second on the Bloomberg Billionaires Index. His estimated net worth is $147 billion, and from the year's beginning, it has increased by $70 billion. Although he passed Jeff Bezos ($147 billion), Elon Musk ($267 billion) is still well ahead of him. With a fortune of $152 billion, the Indian billionaire is ranked third by Forbes, surpassing Mr. Bezos...

The 83-year-old creator of the outdoor clothing firm Patagonia, Yvon Chouinard, has handed ownership of his business to a trust and nonprofit group that was especially set up to utilize the proceeds to fight climate change. Yvon Chouinard, 83, the creator of the Patagonia outdoor clothing firm, along with his wife and two daughters, have given ownership over the business to a nonprofit...

Apple staff members have expressed opposition to going from remote work to a part-time office schedule. The management of the company's choice to switch its personnel from remote work to a partial presence in the office has drawn criticism from U.S. Apple employees, according to a group statement posted on the Apple Together forum of the company’s employees. "Apple management has mandated a...

Trust is the currency of business, and companies need to build strong relationships with different parties. Fairness is one of the reasons for trust, including in business. Being fair to employees is difficult because the consequences are often indirect and not immediately apparent. To learn more about what unfair treatment of employees leads to, European researchers conducted an experiment....