Juul set to cut 500 jobs, Beyond Meat serves up first profit, and more top news
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Juul is set to cut about 500 jobs by the end of the year, accounting for 10-15% of its workforce. The cuts, first reported in The Wall Street Journal, come as the e-cigarette maker’s CEO says the company is undergoing “a necessary reset” in an attempt to repair its relationships with regulators. Recently, Juul has been hit by a proposed ban on vaping flavors, that account for about 80% of its sales, as well as its link to vaping-related lung illnesses. Until September, Juul had been hiring on average 300 new employees each month. ? Here’s what people are saying.
Beyond Meat is enjoying the taste of success, reporting its first quarterly profit with a net income of $4.1 million — up from a loss of $9.3 million a year earlier. The plant-based burger maker, which went public in May, saw sales more than triple to $92 million in the three months ending Sept. 28. Meat alternatives is one of the food industry’s hottest sectors: Sales increased 9.2% in the year ending August, compared with traditional meat sales, which grew just 1.9%. ? Here’s what people are saying.
Letting politicians post ads with false claims on Facebook is “a threat” to what the company stands for. That’s according to the social network’s own employees, who penned a letter — obtained by The New York Times — to CEO Mark Zuckerberg, objecting to a recent decision giving politicians free rein. It’s the latest example of internal tumult at a tech company: Last year, Google workers walked off the job protesting payouts to executives accused of sexual misconduct, while Amazon’s employees have been pushing for climate change action. ? Here’s what people are saying.
British Prime Minister Boris Johnson’s bid for an early election was defeated overwhelmingly in Parliament after opposition Labour Party members boycotted the vote. But two other parties offered to join Johnson in proposing a law — requiring a smaller majority for passage — that would still allow for an election this year. The developments follow the European Union’s agreement to extend the deadline for taking Britain out of the bloc until the end of January. ? Here’s what people are saying.
The adage that you need to taste failure before you can truly succeed in your career is gaining credence from an unlikely source, The New York Times says. Decade-long scientific research from Northwestern University published by “Nature” found that workers who encountered early-career stumbles are more likely to come through the experience stronger than those who hadn’t experienced a setback. It’s not merely “survival of the fittest,” the study’s co-author noted. Rather, an improved performance “is causally linked to the near-miss event itself.” ? Here’s what people are saying.
Idea of the Day: A good debate can help surface the best decision, says Brian Tyler, CEO at McKesson.
“Once you start regularly engaging in respectful debate, it becomes a very normal part of how thoughtful decisions are made. And the value of diverse perspectives becomes powerful and clear.”
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