Breaking: Intel Mass Layoffs, Walgreens Closing Stores (Video)
This is a 16 October 2024 video.
Intel is notifying 1,300 Oregon workers this week they will lose their jobs next month in one of the single largest rounds of layoffs in state history. An Intel spokesperson confirmed the layoffs are part of the plan announced by Intel CEO Pat Gelsinger in August to cut over 15,000 jobs and reduce costs by more than $10 billion in response to worsening financial conditions.
On Tuesday, CEO of Walgreens Tim Wentworth said 1,200 of those stores will close over the next three years. That’s two weeks after rival CVS announced layoffs of 2,900 corporate staff. Both chains are on a multibillion-dollar cost-saving spree — closing hundreds of locations, cutting thousands of jobs and, really, reconsidering their role in Americans’ lives.
https://youtu.be/TPVTtOVJ0II
0:00 – Intro
2:00 – Intel Layoffs
4:09 – CVS Layoffs
5:42 – Democratic Committee Layoffs
6:20 – What is going on with the Labor Market?
9:40 – Walgreens Closing
11:32 – 711 Closing
12:40 – What Happens Next?
17:20 – Bond Default Risk
26:20 – Biggest Factor in Layoffs?
29:50 – Conclusion
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