Newell Brands laying off 13 percent of office staff
January 24, 2023
Newell Brands, the parent company of Rubbermaid and Sharpie, plans to cut 13 percent of its office staff by the end of the year. Newell had 32,000 employees at the end of 2022.
Recent News
Cooking Oil Recall Issued Due to Packaging Issue
The FDA has issued a nationwide recall of Primal Kitchen Avocado Oil, affecting more than 2,000 cases of cooking oil. The recall was initiated due to a packaging issue involving the potential breakage of the glass containers, posing a safety risk to consumers.
Coach and Michael Kors Parent Companies’ Merger Challenged
The FTC is opposing the $8.5 billion merger between Tapestry and Capri, the parent companies behind brands like Coach, Kate Spade, Michael Kors, and Versace. This move is unusual for the FTC, which rarely steps in on fashion industry deals due to its competitive nature.
Tesla Slashes Prices in US, China, and Germany To Battle Rising Competition
Following significant price cuts in the U.S., Tesla has revealed that similar reductions will be applied in China and Germany as well.
Rivian Offers $5K ‘Electric Upgrade’ Discount to Customers With Select Gas-Powered Vehicles
Rivian is offering customers with gas-powered Ford and Toyota SUVs and trucks discounts of up to $5,000 on its EVs, along with a year of complimentary charging.