Peloton to Cut Another 500 Jobs in Last Bid for Turnaround

The Wall Street Journal

The Wall Street Journal

@the-wall-street-journal

Today's News

With schools starting back up again and many people working from home, the computer market has taken a severe hit, with AMD cutting its revenue forecast. In other news, natural gas prices have been volatile, and this has caused Shell to brace for a profit hit. Additionally, schools have been facing an increase in gun confiscations, shootings, and hoaxes. A survey has also found that U.S. diplomats face widespread discrimination and harassment. Finally, gasoline prices are climbing again, and they may get worse. Peloton is also cutting 500 jobs in a last bid for turnaround, and TikTok parent ByteDance sees losses swell in push for growth.

Outline

-AMD cuts revenue forecast due to decreasing PC shipments

  • Shell prepares for financial loss from volatile gas prices and increased costs
  • Schools see rise in gun confiscations, shootings, and hoaxes
  • U.S. diplomats experience discrimination and harassment, according to internal survey
  • Gasoline prices in the U.S. are increasing and may continue to do so
  • Peloton announces another round of 500 job cuts in attempt to turn company around
  • TikTok parent company ByteDance sees significant financial losses, but continues to push for growth
  • Biden plans to pardon people convicted of marijuana possession
AMD Cuts Revenue Forecast Amid Worst Slump in PC Shipments in Years

AMD Cuts Revenue Forecast Amid Worst Slump in PC Shipments in Years

The company cites a weaker-than-expected PC market and “significant inventory correction actions across the PC supply chain.”

Shell Braces for Profit Hit From Volatile Natural-Gas Prices, Rising Costs

Shell Braces for Profit Hit From Volatile Natural-Gas Prices, Rising Costs

The London-based oil company said the pricing and cost swings from shortfalls of liquefied natural gas will likely cut into profit from its huge gas business, typically its biggest cash generator.

Schools Face Increase in Gun Confiscations, Shootings, Hoaxes...

Schools Face Increase in Gun Confiscations, Shootings, Hoaxes...

The rise from the levels of prepandemic years reflects broader societal gun violence and student behavioral problems, school officials say.

Internal Survey Finds U.S. Diplomats Face Widespread Discrimination, Harassment...

Internal Survey Finds U.S. Diplomats Face Widespread Discrimination, Harassment...

Civil servants and foreign-service staff say leaders remain unwilling to take steps to increase diversity and address workplace issues.

U.S. Gasoline Prices Are Climbing Again and May Get Worse

U.S. Gasoline Prices Are Climbing Again and May Get Worse

Gasoline prices are ticking up after a roughly 100-day decline, threatening to inflict new pain on consumers who have been grappling with widespread inflation for more than a year.

Peloton to Cut Another 500 Jobs in Last Bid for Turnaround

Peloton to Cut Another 500 Jobs in Last Bid for Turnaround

Chief Executive Barry McCarthy said the company has six months to prove it can survive on its own.

TikTok Parent ByteDance Sees Losses Swell in Push for Growth

TikTok Parent ByteDance Sees Losses Swell in Push for Growth

The social-media giant saw its operating losses more than triple last year to above $7 billion.

Biden Plans to Pardon People Convicted of Simple Marijuana Possession

Biden Plans to Pardon People Convicted of Simple Marijuana Possession

President Biden said he would pardon all prior federal offenses of simple possession of marijuana and will call on federal regulators to review how the drug is classified.