Boeing plans to freeze hiring and reduce travel and is considering temporary layoffs to save cash during a factory workers’ strike that began last week, the company told employees Monday. The company said the moves, which include reduced spending on suppliers, were necessary because “our business is in a difficult period.” Chief financial officer Brian … Read more
The former chief financial officer for Royal Bank of Canada is suing the bank for almost $50 million over claims of wrongful dismissal. Nadine Ahn said in a lawsuit that there is no merit to the allegations by RBC that she had an “undisclosed close personal relationship” with another employee who received preferential treatment. RBC said … Read more
MrBeast has ordered a full assessment of the internal culture in his YouTube empire as well as an investigation into “allegations of inappropriate behavior by people in the company,” according to a confidential memo obtained by The Associated Press. Addressed to “Team Beast” employees, the message sent Wednesday outlines infrastructure changes including plans to hire … Read more
CrowdStrike has been sued by shareholders who said the cybersecurity company defrauded them by concealing how its inadequate software testing could cause the global outage on July 19 that crashed more than eight million computers. In a proposed class action filed on Tuesday night in the Austin, Texas, federal court, shareholders said they learned that … Read more
A Quebec judge is authorizing a class action from shareholders against Bombardier Inc. over claims that the plane maker presented a false picture of its financial situation in 2018, a turbulent year that saw its share price tank. The lawsuit alleges that Bombardier, then-CEO Alain Bellemare and then-chief financial officer John Di Bert failed to … Read more
Loblaw Companies reported $13.58 billion in first-quarter revenue — a 4.5 per cent increase from a year earlier — on Wednesday morning, the same day that a group of frustrated shoppers said they would begin a month-long boycott of the grocery retailer. The company’s quarterly profit was $459 million, marking a 9.8 per cent increase. Earnings per share were $1.72 … Read more
RBC has terminated chief financial officer Nadine Ahn following an investigation into a personal relationship she allegedly had with another employee. In a statement released Friday evening, RBC says it recently became aware of allegations involving Ahn and launched an internal review, while also consulting external legal counsel to investigate. It says the probe found … 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
Airline executives are frustrated with Boeing as its safety crisis has upended their business plans. But in a tight market for large aircraft supplied by two companies, they have little choice but do business with the U.S. plane maker. Despite some public displays of alarm — United Airlines CEO Scott Kirby flew to France to … Read more
Former senior executives of Twitter are suing Elon Musk and X Corp., saying they are entitled to a total of more than $128 million US in unpaid severance payments. Twitter’s former CEO Parag Agrawal, chief financial officer Ned Segal, chief legal counsel Vijaya Gadde and general counsel Sean Edgett claim in the lawsuit filed Monday that … Read more
