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Despite facing challenges, the bank managed to report a net profit of £1.27 billion ($1.56 billion) for the quarter, slightly exceeding expectations of £1.18 billion. Barclays PLC (LON: BARC), one of the prominent players in the global banking industry, saw its share performance plummet by as much as 6.5% earlier today
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Layer-1 blockchain Solana has released a new solution aiming to drastically reduce the cost of on-chain storage. Called state compression, the technology promises to bring down the cost of minting 1 million nonfungible tokens (NFTs) on the network to nearly $110. "After numerous phases of development, adoption, and rollout, compressed NFTs
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FedEx has hiked its 2023 earnings forecast as expenses have started reducing due to the cost-cutting initiative. Transport company FedEx (NYSE: FDX) has increased its expectation for 2023 earnings following the benefits it recorded from its cost-cutting initiative. The company said the cost-cutting measure addressed the continued demand weakness across
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In its Q4 2022 report, Rivian explained that supply chain constraints continue to affect its production capacity. Rivian Automotive Inc (NASDAQ: RIVN) recently posted its Q4 2022 earnings results, which showed mixed performances. The electric vehicle company’s revenue fell below expectations, although its adjusted loss per share fared better. Furthermore,
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A Coinbase spokesperson told CryptoX the reductions occurred on the company’s recruiting team along with its institutional onboarding unit. “These are isolated and targeted actions by two teams to help Coinbase operate as efficiently as possible,” the company spokesperson said. Source
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CoinFLEX's rough month continues with the decision to "right-size" a business down to its core. Source
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GameStop (GME)'s chief financial officer (CFO) Mike Recupero has departed the video game retailer as part of a cost-cutting drive following a hiring spree in the last 18 months. Original Source
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"We are exploring a way to remove overlapping functions and build smaller but more agile teams to improve our efficiency," a Bybit spokesperson told CoinDesk. "Starting from this week, some of the functions and roles will be reviewed to ensure we stay focused and agile." Original Source
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Coinbase announced the move on its blog following an announcement of layoffs at fellow exchange Gemini earlier today. Original Source
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In its first-quarter earnings report, Coinbase reported lower-than-expected revenues, and a quarterly net loss of $430 million, compared with a profit of $840 million in the fourth quarter of 2021. The company said it expected about $1.7 billion of stock-based compensation expenses, up from $1.5 billion previously, citing “hiring trends
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