Amazon said to lay off about 10,000 staff as soon as this week
The online retail giant is reportedly planning to cut thousands of staff in its retail, HR and devices departments. (The New York Times)
The online retail giant is reportedly planning to cut thousands of staff in its retail, HR and devices departments. (The New York Times)
Special tax treatment for small businesses will phase out between $10 million and $50 million of taxable capital, Finance Minister Peter Bethlenfalvy said in his fall economic update, raising the threshold from its current upper limit of $15 million. (The Logic)
Changpeng Zhao, the Chinese-Canadian CEO of the world’s largest cryptocurrency-trading platform by volume, said the fund would “help projects who are otherwise strong, but in a liquidity crisis” in an effort to stop contagion from the collapse of rival FTX. (The Logic)
The Caledon, Ont., aerospace company is to lead the development of a robot carrying instruments that will examine the lunar surface for water ice and other substances that could be useful on future moon missions. One of the instruments will also measure radiation to help prepare for its long-term effects on structures and astronauts. (The Logic)
FTX, Alameda and approximately 130 related companies have started the bankruptcy process in U.S. court. John J. Ray III, who was chair of Enron’s successor company Enron Creditors Recovery and oversaw the energy-trading firm’s own bankruptcy proceedings, will take over as CEO. (The Logic, The Wall Street Journal)
The Tokyo-based firm reported net income of ¥3.08 trillion (US$22.2 billion) for its fiscal second quarter ending in September, compared to a ¥342 billion loss last year and a ¥3.1 trillion loss the previous quarter. (The Logic)
The Toronto-based media conglomerate announced Friday that it has agreed to buy the U.S.-based tax automation software company for $500 million in cash. The deal is expected to close in the first quarter of 2023. (The Logic)
The Toronto-based legaltech said it will lay off staff, starting in its current quarter, as part of the cost-cutting initiative amid an “exceptionally challenging” macro-economic environment that “continues to deteriorate.” (The Logic)
The embattled precision-farming company said its total acres under subscription fell to 12.3 million as of the end of September, down from 15.3 million in the second quarter. Farmers Edge operates a platform that measures agricultural data like soil quality and weather patterns, and sells that platform to farmers on a subscription basis. (The Logic)
The Quebec EV maker reported a nearly 245 per cent jump in third-quarter revenue and said it delivered 156 vehicles, up from 40 in the same period last year. (The Logic)