Ford Motor Co. is delaying the start of electric vehicle production at its plant in Oakville, Ont., by two years. The U.S. automaker had planned to start production at the Canadian plant, which employs 2,700 workers, in 2025 and is pushing that back to 2027. Ford announced plans last year to spend $1.8 billion to … Read more
Charles McManus, CEO of ClearBank, speaks at the Innovate Finance Global Summit in April 2023. Chris Ratcliffe | Bloomberg | Getty Images ClearBank, a British financial technology firm powering payments for the likes of Coinbase, scored its first full year of profit after higher interest rates helped drive a 91% jump in revenues. The firm … Read more
Lightspeed Commerce is cutting about 280 jobs, less than two months after its founder returned to the helm of the Montreal-based technology company. After integrating the company’s many acquisitions, “Lightspeed is now entering a new phase, one focused on profitable growth to capture the opportunity in front of us,” said founder and chief executive Dax Dasilva. … Read more
Non-profit organisation Copotaxi is paying its employees to go on vacation. The Utah-based company, which inspires adventure by creating innovative outdoor products and experiences that support sustainable poverty relief, says that the funding should be put towards “bucket list” trips. Working tirelessly to get people outdoors, the job perk highlights how Copotaxi practices its mission … Read more
Persistent and severe drought conditions across Western Canada could have a devastating effect on the oil and natural gas sector, which has drilling operations in some of the driest areas, according to a new report by Deloitte. Limited water supply could have significant effects on the production of oil and gas, the report warns, and … Read more
San Francisco: Sam Bankman-Fried, the co-founder and CEO of collapsed crypto exchange FTX, was on Thursday sentenced to 25 years in prison in the US for seven counts of conspiracy and fraud charges. Judge Lewis Kaplan ordered a 240-month sentence and a 60-month sentence to be served consecutively, reports The Verge. “On obstruction of justice, … Read more
Luxury parka maker Canada Goose says it is laying off 17 per cent of its global corporate workforce. CEO Dani Reiss wrote in a LinkedIn note Tuesday that the job cuts are meant to put the company in a better position for scaling and will help the Toronto-based business focus on efficiency and key brand, design … Read more
Boeing CEO Dave Calhoun will step down from the embattled plane-maker at the end of the year as part of a broader management shuffle, capping a tumultuous five-plus years that have shaken faith in one of the U.S.’s most-storied manufacturers. In a letter to employees announcing his departure, Calhoun wrote that the company is focused on returning Boeing “to … Read more
Heli-skiing on virgin snow in Antarctica for a cool $2.2 million. A polar bear safari in an “off-limits” area of Norway’s Svalbard for $300,000. How about tracking snow leopards in the Himalayas with renowned explorers for $100,000? Big-ticket travel experiences like those are indicative of the “quiet luxury” trend which began in the world of … Read more
Is there a good way to lay off a remote worker? Four years after remote work became the norm for a huge section of the labour force, it appears some companies are still struggling with the etiquette of letting someone go virtually. And amid a gradually cooling labour market and mass layoffs in several sectors, such as media and the tech industry, it’s … Read more
