Pinterest reportedly files for IPO, PepsiCo cuts jobs to automate, and more top news
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Pinterest has filed confidentially for an initial public offering, reports The Wall Street Journal, citing people familiar with the matter. The San Francisco-based image app, which tapped Goldman Sachs and JPMorgan Chase to lead its IPO, is said to be looking at a mid-year listing and is expected to seek a valuation of at least $12 billion. It joins the likes of Lyft, Uber and Airbnb, which all have IPO plans this year. ? Here’s what people are saying.
PepsiCo has begun letting go of an unspecified number of employees amid plans to “relentlessly” automate, Business Insider said, citing two unidentified people affected by the cuts at the company's Purchase, New York, headquarters and in Plano, Texas. The food-and-beverage company said last week in a regulatory filing that it expected to incur $2.5 billion in pretax restructuring costs through 2023, including for closing some plants. Chief Executive Ramon Laguarta also said on Friday the company intends to eliminate those jobs that can be automated. ? Here’s what people are saying.
Apple and Goldman are rolling out a joint credit card to employees for testing ahead of a planned spring release, says The Wall Street Journal citing anonymous people. Using Mastercard’s payment network, the card allows customers to access features on Apple’s Wallet app, allowing them to set spending goals, track rewards and manage balances. The tech giant stands to gain a bigger slice of credit-card purchases through the card than it does through Apple Pay, according to the Journal.? Here’s what people are saying.
Tesla has lost a coveted endorsement: Consumer Reports says it will stop recommending Tesla’s Model 3 over reliability issues, sending the electric carmaker’s shares falling nearly 2%. Model 3 owners highlighted loose body trim and glass defects as problem areas. A magazine’s representative said there were also issues with the car’s difficult-to-replace electronics. Analysts raised concerns over declining quality of Model 3s as Tesla increased production, reports CNBC. Tesla says it fixed the “vast majority” of those issues. ? Here’s what people are saying.
Duke University’s Zion Williamson, an NBA draft-pick favorite, injured his right knee in a game Wednesday after his foot burst out of his Nike sneaker. “His shoe broke,” former President Barack Obama was seen saying courtside. While Williamson is expected to recover, marketing experts wonder how Nike will weather the fallout. The iconic sports-apparel brand’s shares slipped in pre-market trading and fell at the start of the trading day. Nike says it’s working to identify the cause of the mishap. ? Here’s what people are saying.
Idea of the Day: If you want help or need something at work, ask your superiors as clearly as you can, says TimeShare CMO’s Melinda Byerley.
“Think it through, and figure out exactly what you want. Then ask for it.”
What's your take on today’s stories? Share your thoughts in the comments.
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Associate at Latham & Watkins LLP
5 年Christopher Sordan
Owner of Smyth & associates NYC Chief Executive Officer & owner of smyth Tribeca hotels
5 年So profoundly true...
Benefits Account Executive- Producer
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Owner of Smyth & associates NYC Chief Executive Officer & owner of smyth Tribeca hotels
5 年Hahaha that's hilarious