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9 songs Taylor Swift wrote for other artists that you probably didn't know about

Taylor Swift performs during the Eras Tour in Liverpool, England.
Taylor Swift performs during the Eras Tour in Liverpool, England.

Gareth Cattermole/TAS24/Getty Images for TAS Rights Management

  • Taylor Swift's biggest fans might not know about these popular songs that she wrote.Β 
  • She helped write songs like "This Is What You Came For" and "Beautiful Ghosts."
  • Swift cowrote or was featured on a number of tracks including "Safe and Sound" and "Both of Us."

Taylor Swift has come a long way since releasing her first self-titled album in 2006.Β 

Over the years, she's even released hits no one knew were hers because she wasn't the main artist performing them.

Keep scrolling for some surprising songs Taylor Swift wrote for other artists.

Taylor Swift wrote "Better Man" and sent it to the band Little Big Town.
little big town and taylor swift 1989 tour
Little Big Town joined Taylor Swift on her 1989 tour.

Jason Merritt/LP5/Getty Images for TAS

In October of 2016, country band Little Big Town released their hit single "Better Man," the first preview for the album "Breaker." The song went on to garner critical acclaim, evening winning song of the year at the 2017 Country Music Awards.

But "Better Man" was originally written by Swift.

Kimberly Schlapman, one of Little Big Town's four members, told Taste of Country in 2016, "She sent us the song … We were like, 'Wow! Taylor sent us a song. She's one of the best songwriters ever.'"

Schlapman said Swift thought the song would be great for the country group because of their four-part harmonies.

Fans may now be more aware of Swift's credit on the song now that she rerecorded it for herself on "Red (Taylor's Version)."

Miley Cyrus' "You'll Always Find Your Way Back Home" was written by Swift.
taylor swift miley cyrus
Miley Cyrus and Taylor Swift at the premiere of "Hannah Montana: The Movie."

Alberto E. Rodriguez/Getty Images

Swift may not have had her own show on Disney Channel, but her music served as a fan-favorite tune for "Hannah Montana: The Movie" (2009).

As detailed by the American Society of Composers, Authors, and Publishers, or ASCAP, Swift wrote the song "You'll Always Find Your Way Back Home," performed by Miley Cyrus/Hannah Montana in the film.

Swift also made a cameo in the film and sang her song "Crazier."

"Best Days of Your Life" was cowritten by Kellie Pickler and Swift.
Kellie Pickler taylor Swift
Kellie Pickler and Taylor Swift on the red carpet.

Michael Buckner/Getty Images

Swift and Kellie Pickler collaborated a few years back and cowrote the song "Best Days of Your Life."

"Taylor Swift and I actually wrote this song together while we were on tour with Brad Paisley," Pickler told The Boot. "I had went through a really bad breakup a while back, so we wrote the song about the relationship that went sour."

Swift also helped to write the song "Babe" for Sugarland.
sugarland taylor swift
Taylor Swift performing with Sugarland at the 2009 Country Music Awards.

AP Photo/Mark J. Terrill

Swift worked with Train's Pat Monahan to cowrite the song "Babe" for the country band Sugarland.

Sugarland band member Jennifer Nettles told Billboard in 2018, "When she was first getting started we had just had our first little EP out, called 'Premium Quality Tunes.'"

Swift is also featured on the track and in the song's music video.Β 

"Babe" is another track that Swift has since rerecorded for her own album, "Red (Taylor's Version)."

Swift collaborated with her then-boyfriend Calvin Harris to write "This Is What You Came For."
Taylor Swift Calvin Harris
Calvin Harris and Taylor Swift dated in 2015 and broke up in 2016.

Chris Pizzello/Invision/AP

Swift hasn't just written country music β€” she also contributed to the hit single "This Is What You Came For," performed by Calvin Harris and featuring Rihanna.

At first, fans were unsure whether Swift had actually written the song.

In July 2017, TMZ reported that Harris and Swift "both knew the song would be a hit, but Taylor wrote it for Calvin and both agreed it was a bad idea to let the world know they collaborated as a couple ... it would overshadow the song."

Eventually, a representative for Swift confirmed with People that Swift wrote the song, stating, "Taylor Swift wrote 'This Is What You Came For' under the pseudonym Nils Sjoberg."

She cowrote and performed on "Both of Us" with B.o.B.
taylor swift b.o.b. bob
Taylor Swift and B.o.B. performed together at Jingle Ball in 2012.

Evan Agostini/Invision/AP

In 2012, Swift pushed even more genre boundaries and collaborated with rapper B.o.B. to release "Both of Us."

Per Hip Hop DX, B.o.B. told B96's Julian On The Radio that his collaboration with Swift "happened naturally."Β Β 

He continued, "It wasn't like the label was like, 'We need to get a Taylor Swift feature.' It was really like she hit me up and invited me to come on her set, and I couldn't make it because I wasn't in Atlanta at the time, but she actually arranged for me to come to Dallas and she brought me out and I played her the song, she liked it and it naturally happened."

Swift helped to write Boys Like Girls' hit song "Two Is Better Than One."
martin johnson taylor swift boys like girls
Martin Johnson and Taylor Swift performing at Jingle Ball in 2009.

Kevin Mazur/WireImage for Clear Channel Radio New York

Rock band Boys Like Girls got the chance to collaborate with Swift for their 2009 release "Two Is Better Than One." And she was prominently featured on the track.Β 

Billboard saidΒ the song helped to boost the band's already-successful summer and to display their "softer side."

Swift cowrote "Safe and Sound" with The Civil Wars for "The Hunger Games" soundtrack.
the civil wars taylor swift
The song won a Grammy Award in 2013.

John Shearer/Invision/AP

Some fans might be familiar with Swift's contributions to "The Hunger Games" soundtrack, but if you're not also a fan of the franchise they might have slipped past you.

Swift cowrote "Safe and Sound" with The Civil Wars, and she told MTV in 2012 that the song "just ended up so organically coming together."

She continued, "We wrote this song and recorded it one day. When we got the track back, I was so surprised by the restraint. He created this ethereal sound without making it this big battle anthem."

The group ended up winning a Grammy in 2013 for "Safe and Sound."

Swift's song "Eyes Open" was also featured on the movie's soundtrack.Β 

Swift starred in the movie adaptation of "Cats" (2019), but she also cowrote the film's original song with Andrew Lloyd Webber.
cats movie francesca hayward
Francesca Hayward sang the song in the film.

Universal Pictures

Swift played Bombalurina in the 2019 film adaptation of the musical "Cats," but she also got to collaborate with legendary musical theater composer Andrew Lloyd Webber on the original song "Beautiful Ghosts."

Francesca Hayward sings the song in the film, but Swift also recorded a studio version of it.

"There was an ambition and an aspiration to have an original song in the movie," Swift said in an interview with Universal Pictures. "It was just this beautiful haunting melody."

This story was originally published in May 2018, and most recently updated on December 13, 2024.Β 

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Read the original article on Business Insider

BlackRock CFO Martin Small outlines the asset management giant's top 3 criteria for every acquisition

BlackRock signage on building facade
Former President Donald Trump was attacked by a gunman identified by authorities as Thomas Crooks, whom BlackRock said also featured in an ad about a teacher at Bethel Park High School.

VIEW press / Getty Images

  • BlackRock is on a string of multibillion-dollar acquisitions to bolster its private-markets prowess.
  • In late November, the asset management titan bought private-credit firm HPS for $12 billion.
  • CFO Martin Small explained how the acquisition fits the firm's three requirements.

BlackRock is spending top dollar in its quest to dominate private-markets investing, recently agreeing to buy private-credit firm HPS Investment Partners for $12 billion. It's been a busy year with the asset management giant also buying data powerhouse Preqin and private-equity firm Global Infrastructure Partners (GIP) for $3.2 billion and $12.5 billion, respectively, earlier this year.

"Inorganic has always been a fundamental part of the BlackRock strategy," said Martin Small, the firm's chief financial officer, in an interview at the Goldman Sachs Financial Services Conference on Tuesday.

BlackRock isn't afraid to take big swings.

"We've never shied away from taking big bets," CEO Larry Fink said in an analyst call about the GIP acquisition last week.

BlackRock, which oversees $11.5 trillion, is not new to transforming itself through deals. In 2009, it pushed into passive investing when it bought Barclays' asset-management business. The acquistion gave it iShares and helped it become the public markets juggernaut it is today.

The firm has important criteria for its major acquisitions. At the New York City event, Small laid out the top three factors and how HPS met them.

Cultural fit

Small, an 18-year BlackRock veteran who is also the global head of corporate strategy, named cultural fit as his top priority.

"We have to acquire the kind of people that are aligned to a 'One BlackRock' culture and mission," he said, referring to the firm's ethos of working collaboratively.

Small was part of many meetings with HPS's executive team to test the waters. He said the cofounders shared important values with Fink and BlackRock President Rob Kapito.

"We all speak the same language," he said. "They're founders. Larry Fink and Rob Kapito are founders. We're client-centered firms. We believe in scale, we believe in global."

The three cofounders of HPS β€” Scott Kanick, Mike Patterson, and Scot French β€” will lead a new private financing solutions unit at BlackRock and join the firm's global executive committee.

Enrich and extend BlackRock's platform

BlackRock only makes acquisitions that are additive in more ways than one.

"We've been in all the businesses that we've acquired, whether it's private credit or infrastructure or SMA or options or whatever. We've done technology and data in the last year," Small said. "It's not just about new capabilities. It's about new capabilities that make the ones you have better."

Combining BlackRock's existing private credit business with that of HPS will produce a diversified business with a broader reach.

"HPS has been very active in kind of the upper-middle market in terms of direct lending, but also the junior capital solutions," Small said. "Our team has historically been active more in the middle market, kind of $75 million EBITDA borrower base. So there's an enrichment."

"I also think that'll strengthen origination, our ability to do more transactions, meet borrowers where they are," he added.

Topline results

"You've got to be a credible operator on a consolidated basis of these businesses," Small said of acquisition targets.

Given BlackRock's prowess, it takes a sizable acquisition to move the needle. HPS's $148 billion in client assets fits the bill.

"We'll now have a $220 billion preform a private credit business at BlackRock so we'll be very scaled in that regard," he said.

Read the original article on Business Insider

As BlackRock storms into the private-credit arena, longtime players aren't worried about the space getting too crowded

A hand holding several $100 bills, while two other hands grab at the money.

iStock, BI

  • BlackRock's acquisition of HPS brings the world's largest asset manager to the exploding sector.
  • Despite worries about an oversaturated market, industry vets say there are plenty of opportunities.
  • "The market is proving that private credit has a reason to exist," a Carlyle exec said.

Tens of billions poured into private credit funds in the third quarter β€” and then the world's largest asset manager joined the party.

BlackRock's $12 billion announced acquisition of the private-credit pioneer HPS Investment Partners adds an 800-pound gorilla to a sector already full of similarly aggressive primates. The $11.5 trillion asset manager has not been shy about its ambitions in the private markets, and there are worries about too many dollars chasing too few deals.

Other finance giants are trying to get in on the private-credit action, State Street is shopping around for a private-credit firm, and Citi has linked up with Apollo for a $25 billion credit fund. The Singapore sovereign wealth fund Temasek is forming a $7.5 billion private-credit platform. Many smaller asset managers and hedge funds have also launched funds in recent years.

Despite everyone looking to get a part of Wall Street's hottest market, longtime private-credit players are not feeling crowded. Managers are focusing on how private credit is servicing certain parts of the market that are set to grow, such as mergers and acquisitions, or differentiating themselves from peers.

"The market is proving that private credit has a reason to exist," Nicola Falcinelli, the deputy head of European private credit at Carlyle, said Thursday at Edelman Smithfield's annual investor summit in London.

With M&A activity expected to tick up thanks to the reelection of Donald Trump, private-credit providers will be in demand to finance deals, executives said.

"Private credit has done a really nice job of filling cracks in" the deal-financing market, Matthew Theodorakis, a cohead of European direct lending for Ares Management, said at the Edelman event.

Falcinelli pointed to the "long-term trend of banks retrenching from financing M&A" as validation for the expansion of his sector.

"There's healthy competition between capital markets and private credit" across different markets, he said.

Money is being thrown around

From some points of view, this competition has given a lifeline to companies that may not deserve it. April LaRusse of London's Insight Investment, which manages $665 billion across different vehicles, said the number of companies defaulting on their debt held steady in recent years despite interest rates rising.

Typically, an interest-rate increase would squeeze troubled companies to the point that they're unable to pay their creditors. Instead, LaRusse said, there's plenty of capital willing to extend a lifeline.

"High-yield companies have had money thrown at them by private-debt and -equity companies," she said.

With the expansion of players in the lending space, there's more of a focus on putting money to work in the right opportunities, not just owning a broad swath of the market, said Putri Pascualy, a client-portfolio manager for private credit within Man Group's Varagon, a $11.8 billion private-credit firm the asset manager purchased last year.

Managers will "differentiate through alpha, through credit selection," she said at an event at Man Group's London headquarters. For her, she said, "cash is king" when it comes to judging the quality of borrowers β€” she wants to see a decent amount of liquidity on companies' balance sheets.

Additionally, despite the industry still being a very human-run space of finance, Pascualy said Man was setting itself apart with its artificial-intelligence tools. Blackstone similarly has used its AI tools to pitch insurers looking for private-credit options.

Man uses these tools to scan credit documents and weed out human error, Pascualy said, adding that the firm was just at the beginning of seeing which parts of the process it could make more efficient.

No matter what, though, she said, the firm and others will expand in the space.

"The private-credit universe globally will continue to grow," she said.

Read the original article on Business Insider

AWS brings prompt routing and caching to its Bedrock LLM service

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AWS’ new service tackles AI hallucinations

Amazon Web Services (AWS), Amazon’s cloud computing division, is launching a new tool to combat hallucinations β€” that is, scenarios where an AI model behaves unreliably. Announced at AWS’ re:Invent 2024 conference in Las Vegas, the service, Automated Reasoning checks, validates a model’s responses by cross-referencing customer-supplied info for accuracy. (Yes, the word β€œchecks” is […]

Β© 2024 TechCrunch. All rights reserved. For personal use only.

BlackRock is buying HPS for $12 billion. Here's what's behind Larry Fink's year of blockbuster deals.

Larry Fink smiling while being interviewed on Fox Business.
BlackRock CEO and cofounder Larry Fink.

John Lamparski/Getty Images

  • BlackRock has agreed to buy private credit firm HPS Investment Partners.
  • HPS is another major private markets deal for the $11.5 trillion money manager.
  • BlackRock, known for its ETFs, is hoping a shift to private markets will drive growth.

Larry Fink is looking to close 2024 as he started it β€” by announcing a big acquisition that brings BlackRock closer to dominating private market investing.

BlackRock is set to buy HPS Investment Partners, a private credit behemoth managing $148 billion, in an all-stock deal worth around $12 billion, the firms announced Tuesday.

Fink, BlackRock's chief executive and cofounder, who built the world's largest asset manager with $11.5 trillion in assets by packaging public markets into cheap funds for the masses, has been very vocal about the firm's push into the profitable private markets.

This shift in strategy could lead to a more valuable BlackRock, which might just be enough for Fink, who turned 72 last month, to finally pass on the reins to his yet-to-be-named successor.

In January, the firm announced that it would buy private equity firm Global Infrastructure Partners, with about $170 billion in assets, for about $12.5 billion in cash and stock. The deal, its biggest one since it bought Barclays's asset management business in 2009, closed in October. In June it agreed to buy data giant Preqin, which it hopes will help bring some of these more complex private strategies to a broader audience.

In addition to the HPS talks, the FT has reported that BlackRock is eyeing a stake in Izzy Englander's $70 billion hedge fund Millennium Management.

BlackRock is not new to reshaping itself through acquisition. The Barclays deal gave the firm iShares and helped it become the passive investing giant it now is.

"I do not want us to be comfortable in our business model," Fink said during the firm's investor day last summer. "I want to make sure we're questioning our business model and we are focusing on how to best serve our clients, and if we truly believe there is some great need that we need to do, we are going to reimagine who we are in our business model."

Acquiring HPS could be another "transformational" deal for the company, helping it reach the same scale it has public equities and bonds in private markets. HPS will push its alternative assets to more than $600 billion.

BlackRock's private credit business will now have a combined $220 billion in client assets. The deal is expected to increase private market fee-paying assets under management by 40% and management fees by 35%, BlackRock said.

Meet HPS Investment

HPS was founded by CEO Scott Kapnick, Goldman Sachs' former head of investment banking, along with Scot French and Michael Patterson in 2007 as a unit within JPMorgan called Highbridge Capital Management. Principals from the firm bought it out in 2016 after the bank's appetite for high-risk loans waned.

The three will now join BlackRock's global executive committee and lead a new unit combining HPS and BlackRock's existing private credit business.

HPS CEO Scott Kapnick at a podium pointing up
HPS Investment Partners CEO Scott Kapnick.

Cindy Ord/Getty Images for Room to Read

The secretive firm has been at the forefront of the private credit boom, which resulted from the 2008 financial crisis and banks' withdrawal from risky lending. Private players moved in to make loans to companies when Wall Street giants were reluctant to.

"Our competitors refer to us as the nerds of private credit and we take no offense," French told Bloomberg in an interview last November.

The firm, which was previously working toward an initial public offering, caters to mostly institutional investors and has more than 760 employees in offices around the world, according to its website.

How it fits with BlackRock's ambitions

BlackRock brought in more assets in the third quarter than ever before, mostly down to its index funds, but in its October earnings call the firm's leaders were already focused on its future growth engine β€” GIP.

GIP is expected to add $250 million in management fees in the fourth quarter alone.

"This is a revenue growth story," Martin Small, BlackRock's chief financial officer said during that call." Private equity and credit investments are much more expensive than BlackRock's usual roster of funds and are in high demand from institutions like pensions and endowments as well as ultra-wealthy investors.

While BlackRock has long had an alternatives investing unit, until recently, its private markets assets were meaningfully smaller than those of the main players in the space, such as Apollo and KKR.

It's tried growing through acquisition in this space in the past. In 2018, BlackRock bought a small credit manager, Tennenbaum Capital Partners, which at that time had about $9 billion in committed client capital, but saw a number of investment professionals exit.

BlackRock expects the private debt market to more than double to $4.5 trillion by 2030.

While private credit's high yields and returns have increasingly attracted wealth managers and institutions alike, the deal will likely strengthen relationships with insurance firms, which have a longer investing horizon.

Ana Arsov, Moody's Ratings global head of private credit said the acquisition is "catapulting" BlackRock into the ranks of the top 5 private credit managers and significantly advances its private-market growth goals.

"Blackrock's large installed base of insurance client assets offers a prime opportunity to cross-sell HPS's capabilities, Arsov said. "Additionally, BlackRock's extensive distribution network of institutional investors and wealth managers opens new markets for HPS."

Read the original article on Business Insider

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The full list of major US companies slashing staff this year, including Meta, ExxonMobil, and Boeing

A Cargill meat processing plant in Arkansas.
Cargill is cutting 5% of its workforce.

Spencer Tirey/Getty Images

  • Last year's job cutsΒ weren't the end of layoffs. Further reductions continue in 2024.
  • Companies like Flagstar Bank, Meta, PwC, Tesla, Google, Microsoft, and Nike have all announced cuts.
  • See the list of companies reducing their worker numbers in 2024.

After a brutal year of layoffs in 2023, companies this year have continued to cut jobs across tech, media, finance, manufacturing, and retail.

Tech titans like Meta, IBM, Google, and Microsoft; finance leaders like Goldman Sachs, Citi, and BlackRock; accounting firms like PwC; entertainment behemoths like Pixar and Paramount; and corporate giants like Tesla, Dow, and Nike have all announced layoffs.

A survey in late December said nearly 40% of business leaders had expected layoffs this year, ResumeBuilder said. ResumeBuilder talked to about 900 leaders at organizations with more than 10 employees.

One major factor survey respondents cited was artificial intelligence. Around four in 10 leaders said they would conduct layoffs as they replace workers with AI. Last year, Dropbox, Google, and IBM announced job cuts related to AI.

Here are the dozens of companies with job cuts planned or already underway in 2024.

The US' biggest privately-owned company, Cargill, is cutting thousands of jobs
A Cargill meat processing plant in Arkansas.
Cargill is cutting 5% of its workforce.

Spencer Tirey/Getty Images

Cargill, the largest privately owned company in the US, is slashing 5% of its workforce.

The company, which is the world's largest agricultural commodities trader, will lay off thousands of workers from its 164,000-strong workforce, Bloomberg reported on Monday, citing an internal memo it had seen.

"To strengthen Cargill's impact, we must realign our talent and resources to align with our strategy," a Cargill spokesperson told BI.

The cuts would impact workers across all professional levels from countries in Asia, Latin America, North America, Europe, the Middle East, and Africa.

The layoffs will not touch its executive team but will impact its "next level senior leaders," Bloomberg reported, citing people familiar with the matter.

"The majority of these reductions will take place this year," Chief Executive Officer Brian Sikes said in the memo, seen by Bloomberg. "They'll focus on streamlining our organizational structure by removing layers, expanding the scope and responsibilities of our managers, and reducing duplication of work."

Microchip Tech is closing an Arizona factory
Semiconductor microchip stock image
Microchip Technology is closing a factory in Arizona, which is expected to cut around 500 jobs.

iStock/Getty Images Plus

Microchip Technology, a chipmaker for a variety of consumer products, on Monday said it was closing a facility in Tempe, Arizona, as it deals with slower-than-anticipated orders.

The closure is expected to affect about 500 jobs from the company's total of 22,300, Microchip said. The closure will progress in stages and end in September 2025.

"While the company has taken steps to right size inventory and reduce expensesβ€” including temporary pay reductions and company-wide and factory shutdownsβ€”these measures have not been enough," a spokesperson for Microchip said in a statement on Tuesday.

Microchip also updated its revenue guidance for the quarter ending in December quarter to $1.025 billion, which is at the lower end of its earlier forecast.

The company's stock fell about 3% in after-hours trading and is down 22% year-to-date.

Publishing giant Hearst Magazines trims staff.
Hearst Tower
Hearst Tower

Rob Kim/Getty Images

The owner of publications including Esquire and Cosmopolitan is conducting a round of layoffs, The Hollywood Reporter said in a November 21 report.

The exact number of positions impacted is not clear.

"After a thorough review of our business, we've decided to reallocate resources to better support our goals and continue our focus on digital innovation while strengthening our best in class print products," Hearst Magazines president Debi Chirichella told staff in a memo obtained by THR. "We will scale back in areas that do not support our core strategy and will eliminate certain positions as we reimagine our team structures to drive long-term growth."

Boeing starts issuing layoff notices to 400 workers amid plans for 10% global cut
A Boeing facility.
Boeing is cutting 10% of its global workforce.

PATRICK T. FALLON/AFP via Getty Images

In October, Boeing said that it would cut 10% of its 170,000-strong global workforce. The reduction plan will include 2,199 employees in Washington and another 50 in Oregon, according to the company's filings.

As part of the cuts, Boeing is laying off more than 400 workers who are part of its professional aerospace labor union. The Seattle Times reported that 438 members of the Society of Professional Engineering Employees in Aerospace (SPEEA) received pink slips.

These included engineers, scientists, analysts, technicians, and other jobs, the outlet reported.

In a note to employees on October 11, CEO Kelly Ortberg said Boeing was in a "difficult position" and that "restoring our company requires tough decisions."

The layoffs come at a difficult time for Boeing. Its share price has fallen more than 40% since the start of the year as it grapples with the fallout from aΒ seven-week strikeΒ and technical faults like a door plug coming off an Alaska Airlines 737 Max midflight in January.

Representatives of Boeing and the SPEEA didn't immediately respond to a request for comment from Business Insider.

Exxon is cutting nearly 400 jobs after Pioneer merger
A sign that reads "Exxon" in red letters.
Exxon Mobil is cutting about 400 employees after Pioneer merger.

Andrew Kelly/Reuters

ExxonMobil is cutting about 400 employees from Pioneer Natural Resources, the oil and gas company it acquired earlier this year.

The cuts will come in seven stages and will be completed in May 2026, Exxon said in a notice to the Texas Workforce Commission.

The cuts represent almost 20% of Pioneer's pre-merger workforce and will mostly affect employees in Pioneer's suburban Dallas offices, the notice said.

AMD is laying off roughly 4% of its workforce.
AMD logo
AMD is reportedly cutting roughly 4% of its global workforce, or around 1,000 employees.

Costfoto/NurPhoto via Getty Images

AMD confirmed it would be reducing its global staff, which numbered around 26,000 total employees as of December 2023.

β€³As a part of aligning our resources with our largest growth opportunities, we are taking a number of targeted steps that will unfortunately result in reducing our global workforce by approximately 4%," an AMD representative said in a statement to Business Insider. "We are committed to treating impacted employees with respect and helping them through this transition."

The cuts are reportedly targeting sales and marketing roles in areas like consumer PC and gaming PC, according to Bloomberg.

The computer chipmaker is focusing efforts on the artificial intelligence industry as it chases rival Nvidia in the GPU market. In October, AMD raised its 2024 GPU sales estimates from its initial $4.5 billion to over $5 billion.

Chegg is cutting 21% of its employees as AI search destroys its business
Chegg logo on orange background
Chegg is letting go of 21% of its staff amid competition from ChatGPT and other AI searchers.

Pavlo Gonchar via Getty Images

Online education site Chegg is laying off staff for the second time this year as generative AI platforms obliterate its business model.

Chegg said it is cutting 319 employees, or 21% of its staff, as it faces strong competition from platforms like ChatGPT. The company slashed global headcount by 23% in June.

"The speed and scale of Google's AIO rollout and student adoption of generative AI products have negatively impacted our industry and our business," Nathan Schultz, Chegg's CEO, said in an earnings release. The company reported a loss of $212.6 million for the third quarter.

Chegg's stock has fallen nearly 85% since the start of this year.

23andMe is cutting 40% of its staff
23andMe sign on a building
23andMe is cutting 40% of its staff and exiting its therapeautics business.

Smith Collection/Gado

Genetic testing company 23andMe is cutting 200 employees, or 40% of its workforce, to reduce costs and refocus its business.

The Bay Area-based company is also discontinuing further development of all its therapeutics programs, it said in a mid-November statement.

Anne Wojcicki, 23andMe's CEO and cofounder, has been trying to take the struggling company private since April.

23andMe debuted on the stock market in 2021 but fallen from its peak valuationΒ of $6 billion β€” its market cap is now north of $100 million. Financial and strategic missteps,Β as well as high-profile user data hacks, have dragged the company down.

Beyond Inc. plans to cut 20% of its workforce
Bed, Bath & Beyond logo
Beyond Inc., the parent company of Bed Bath & Beyond, Overstock, and Zulily, is the latest to announce layoffs.

PATRICK T. FALLON/AFP via Getty Images

The parent company of Bed Bath & Beyond, Overstock, Zulily, and other brands revealed its decision to slash a fifth of its staff in an October SEC filing.

The workplace reduction was taken to create a more "variable, leverageable cost structure" and to help align the company with its "asset-light business that supports an affinity and data monetization model with a strong technology focus," Beyond Inc. said in the filing.

The cuts are estimated to save roughly $20 million annually in fixed costs and are expected to be "substantially implemented" in the fourth quarter of 2024.

The news came shortly after Beyond Inc. and Kirkland announced a partnership that means physical Bed Bath & Beyond stores will return in smaller-format "neighborhood" locations.

Meta added to the 20,000+ people it's laid off since 2022
Meta logo on banner
The newest cuts affect employees at units including Instagram, WhatsApp, and Reality Labs.

Chesnot/Getty

Meta is eliminating some roles on units including Instagram, WhatsApp, and its VR and AR division Reality Labs.

"A few teams at Meta are making changes to ensure resources are aligned with their long-term strategic goals and location strategy," a Meta spokesperson told BI on October 17. "This includes moving some teams to different locations, and moving some employees to different roles."

It's unclear how many roles will be affected, but Meta has trimmed its staff significantly in the year and a half, with more than 20,000 job cuts since 2022. CEO Mark Zuckerberg proclaimed 2023 a "year of efficiency" at the company, and continued cost-cutting measures this year as the tech giant gets flatter in structure.

TikTok is laying off employees as part of content moderation changes.
TikTok logo
Tiktok is cutting employees in its content-moderation arm.

Illustration by Omar Marques/SOPA Images/LightRocket via Getty Images

TikTok is cutting employees in various locations as part of changes to its content-moderation strategy.

A spokesperson for the China-owned company told Reuters in October that 80% of content that violates its policy is now removed through automated technology.

The company did not provide details on the exact number of positions that it eliminated but told Reuters the cuts would affect "several hundred" employees.

PwC is cutting 1,800 employees.
PwC
PwC is laying off about 2.5% of its staff.

Michael Kappeler/picture alliance via Getty Images

Big Four accounting firm PwC is cutting 1,800 workers, which is about 2.5% of its staff. The cuts will impact staffers ranging from associates to managing directors β€” half of them offshore. Those affected by the cuts will be informed in October.

In an emailed statement to Business Insider, Tim Grady, PwC's US chief operating officer, said, "To remain competitive and position our business for the future, we are continuing to transform
areas of our firm and are aligning our workforce to better support our strategy, including attracting and moving the right talent and skill sets to the areas where we need them most. Right now, we are focused on running our business well and adapting to meet the needs of our clients and the rapidly changing market."

Nike's up-to-$2 billion cost-cutting plan will involve severances
Nike Customers walk past a Nike store in Shanghai, China
Athletic retailer Nike will be making reductions to staffing as part of a cost-cutting initiative.

CFOTO/Future Publishing via Getty Images

Nike announced its cost-cutting plans in a December 2023 earnings call, discussing a slow growth in sales. The call subsequently resulted in Nike's stock plunging.

"We are seeing indications of more cautious consumer behavior around the world," Nike Chief Financial Officer Matt Friend said in December.

Google laid off hundreds more workers in 2024
Google CEO Sundar Pichai
Google confirmed the layoffs to Business Insider in an email.

Justin Sullivan/Getty Images

On January 10, Google laid off hundreds of workers in its central engineering division and members of its hardware teams β€” including those working on its voice-activated assistant.

In an email to some affected employees, the company encouraged them to consider applying for open positions at Google if they want to remain employed. April 9 was the last day for those unable to secure a new position, the email said.

The tech giant laid off thousands throughout 2023, beginning with a 6% reduction of its global workforce β€” about 12,000 people β€” last January.

Discord laid off 170 employees.
Discord logo displayed on a phone screen and Discord website displayed on a screen in the background are seen in this illustration photo taken in Krakow, Poland on November 5, 2022.
Jason Citron said rapid growth was to blame for the cuts.

Jakub Porzycki/NurPhoto/Getty Images

Discord employees learned about the layoffs in an all-hands meeting and a memo sent by CEO Jason Citron in early January.

"We grew quickly and expanded our workforce even faster, increasing by 5x since 2020," Citron said in the memo. "As a result, we took on more projects and became less efficient in how we operated."

In August 2023, Discord reduced its headcount by 4%. According to CNBC, the company was valued at $15 billion in 2021.

Citi will cut 20,000 from its staff as part of its corporate overhaul.
jane fraser milken institute panel
CEO Jane Fraser has been vocal about the necessity for restructuring at Citigroup.

Patrick T. Fallon/Getty Images

The layoffs announced in January are part of a larger Citigroup initiative to restructure the business and could leave the company with a remaining head count of 180,000 β€” excluding its Mexico operations.

In an earnings call that month, the bank said that layoffs could save the company up to $2.5 billion after it suffered a "very disappointing" final quarter last year.

Amazon-owned Twitch also announced job cuts.
Twitch is walking back its policy allowing for "artistic nudity" after just two days.
Twitch is cutting more than 500 positions.

NurPhoto/Getty Images

Twitch announced on January 10 that it would cut 500 jobs, affecting over a third of the employees at the live-streaming company.

CEO Dan Clancy announced the layoffs in a memo, telling staff that while the company has tried to cut costs, the operation is "meaningfully" bigger than necessary.

"As you all know, we have worked hard over the last year to run our business as sustainably as possible," Clancy wrote. "Unfortunately, we still have work to do to rightsize our company and I regret having to share that we are taking the painful step to reduce our headcount by just over 500 people across Twitch."

BlackRock is planning to cut 3% of its staff.
BlackRock logo
BlackRock expects to lay off 3% of its workforce.

Leonardo Munoz/VIEWpress

Larry Fink, BlackRock's chief executive, and Rob Kapito, the firm's president, announced in January that the layoffs would affect around 600 people from its workforce of about 20,000.

However, the company has plans to expand in other areas to support growth in its overseas markets.

"As we prepare for 2024 and this very exciting but distinctly different landscape, businesses across the firm have developed plans to reallocate resources," the company leaders said in a memo.

Rent the Runway is slashing 10% of its corporate jobs as part of a restructuring.
Woman walks out the door of Rent the Runway store
Rent the Runway is laying off a few dozen people in its corporate workforce.

Shannon Stapleton/Reuters

In the fashion company's January announcement, COO and president Anushka Salinas said she will also be leaving the firm, Fast Company reported.

Unity Software is eliminating 25% of its workforce.
Sutro combines the best of Unity, Figma, Retool, and GPT-3
Unity Software plans to cut roughly 1,800 jobs.

Sutro Software

Around 1,800 jobs at the video game software company will be affected by the layoffs announced, Reuters reported in January.

eBay cut 1,000 jobs
eBay logo sign outside its office
eBay wants to become "more nimble."

ullstein bild Dtl/ Getty

In a January 23 memo, CEO Jamie Iannone told employees that the eBay layoffs will affect about 9% of the company's workforce.

Iannone told employees that layoffs were necessary as the company's "overall headcount and expenses have outpaced the growth of our business."

The company also plans to scale back on contractors.

Microsoft is reportedly cutting 650 more jobs from its Xbox division
Xbox logo on phone with Microsoft logo in the background
Microsoft is reportedly laying off hundreds of employees in Xbox division

SOPA Images/Getty Images

Microsoft will be laying off hundreds of employees in its Xbox gaming division, Bloomberg first reported in September.

The job cuts will mainly affect workers in corporate and support functions, the outlet reported, citing a memo sent by Microsoft Gaming chief Phil Spencer.

However, he reportedly added that the company is not planning to close any studios or remove any games or devices.

This comes after the company also slashed 1,900 workers at Activision, Xbox, and ZeniMax in late January.

Nearly three months after Microsoft acquired video game firm Activision Blizzard, the company announced layoffs in its gaming divisions. The layoffs mostly affect employees at Activision Blizzard.

Xbox in May also reportedly offered some employees voluntary severance packages after shutting three units and absorbing a fourth earlier in the month.

Salesforce is cutting 700 employees across the company, The Wall Street Journal reported
Salesforce Tower in New York.
Salesforce laid off about a tenth of its headcount last year.

Plexi Images/Glasshouse Images/UCG/Universal Images Group via Getty Images

Salesforce announced a round of layoffs that the company says will affect 1% of its global workforce, The Journal reported in late January.

The cuts followed a wave of cuts at the cloud giant last year. In 2023, Marc Benioff's company laid off about 10% of its total workforce β€” or roughly 7,000 jobs. The CEO said the company over-hired during the pandemic.

iRobot is laying off around 350 employees and founder Colin Angle will step down as chairman and CEO
iRobot co-founder Colin Angle
iRobot's executive vice president and chief legal officer Glen Weinstein has been appointed interim CEO upon Angle's exit from the company.

Kimberly White/Getty Images

The company behind the Roomba Vacuum announced layoffs in late January around the same time Amazon decided not to go through with its proposed acquisition of the company, the Associated Press reported.

UPS will cut 12,000 jobs in 2024.
UPS Driver in truck
UPS CEO Carol TomΓ© told investors that the company will reduce its headcount by 12,000 by the end of 2024.

Justin Sullivan/Getty Images

The UPS layoffs will affect 14% of the company's 85,000 managers and could save the company $1 billion in 2024, UPS CEO Carol TomΓ© said during a January earnings call.

Paypal CEO Alex Chriss announced the company would lay off 9% of its workforce.
PayPal
PayPal announced layoffs at the end of January.

(Photo by Justin Sullivan/Getty Images)

Announced in late January, this round of layoffs will affect about 2,500 employees at the payment processing company.

"We are doing this to right-size our business, allowing us to move with the speed needed to deliver for our customers and drive profitable growth," CEO Alex Chriss wrote in a January memo. "At the same time, we will continue to invest in areas of the business we believe will create and accelerate growth."

Okta is cutting roughly 7% of its workforce.
Okta logo displayed on a phone with bright lights in the background
Okta announced a restructuring plan at the start of February.

SOPA Images/ Getty

The digital-access-management company announced its plans for a "restructuring plan intended to improve operating efficiencies and strengthen the Company's commitment to profitable growth" in an SEC filing in February.

The cuts will impact roughly 400 employees.

Okta CEO Todd McKinnon told staff in a memo that "costs are still too high," CNBC reported.

Snap has announced more layoffs.
Snapchat logo and dollar signs in front of a purple background
Snap has announced another round of job cuts.

Snapchat, Tyler Le/Insider

The company behind Snapchat announced in February that it's reducing its global workforce by 10%, according to an SEC filing.

EstΓ©e Lauder said it will eliminate up to 3,100 positions.
Estee Lauder display
Between 1,600 and 3,100 jobs will be eliminated from the company.

Reuters

The cosmetics company announced in February that it would be cutting 3% to 5% of its roles as part of a restructuring plan.

Estee Lauder reportedly employed about 62,000 employees around the world as of June 30, 2023.

DocuSign is eliminating roughly 6% of its workforce as part of a restructuring plan.
docusign
The electronic signature company is cutting 6% of its workforce.

Igor Golovniov/SOPA Images/LightRocket/Getty Images

The electronic signature company said in an SEC filing in February that most of the cuts will be in its sales and marketing divisions.

Zoom is slashing 150 jobs
Zoom CEO Eric Yuan
Videoconferencing company Zoom laid off 1,300 people in February 2023. The following February it announced 150 layoffs.

Kena Betancur

Zoom announced 150 job losses in February, which amounted to about 2% of its workforce. It had announced it was laying off 1,300 people the previous February.

Paramount Global is laying off 800 employees days after record-breaking Super Bowl
Paramount Global CEO Bob Bakish
CEO Bob Bakish sent a note informing employees of layoffs.

Eduardo Munoz Alvarez/AP

In February, Paramount Global CEO Bob Bakish sent a memo to employees announcing that 800 jobs β€” about 3% of its workforce β€” were being cut.

Deadline obtained the memo less than a month after reporting plans for layoffs at Paramount. The announcement comes on the heels of Super Bowl LVIII reaching record-high viewership across CBS, Paramount+, and Nickelodeon, and Univision.

Morgan Stanley is trimming its wealth management division by hundreds of staffers
morgan stanley phone logo chart
The layoffs mark one of the first major moves by newly-installed CEO Ted Pick.

Pavlo Gonchar/SOPA Images/LightRocket via Getty Images

Morgan Stanley is laying off several hundred employees in its wealth-management division, the Wall Street Journal reported in February, representing roughly 1% of the team.

The wealth-management division has seen some slowdown at the start of 2024, with net new assets down by about 8% from a year ago. The layoffs mark the first major move by newly-installed CEO Ted Pick, who took the reins from James Gorman on January 1.

Expedia Group is cutting more than 8% of its workforce
expedia group ceo peter kern stands in front of a large screen that says unprecedented reach with a man throwing a child in the air
Peter Kern, CEO of Expedia Group

Business Wire

An Expedia spokesperson told BI that it was implementing cutbacks, as part of an operational review, that were expected to impact 1,500 roles this year.

The company's product and technology division is set to be the worst hit, a report from GeekWire said, citing an internal memo CEO Peter Kern sent to employees in late February.

"While this review will result in the elimination of some roles, it also allows the company to invest in core strategic areas for growth," the spokesperson said.

"Consultation with local employee representatives, where applicable, will occur before making any final decisions," they added.

Sony is laying off 900 workers
A corner of a PlayStation 5
The tech company is slashing 900 workers from its workforce.

NurPhoto/Getty Images

The cuts at Sony Interactive Entertainment swept through its game-making teams at PlayStation Studios.

Insomniac Games, which developed the hit Spider-Man video game series, as well as Naughty Dog, the developers behind Sony's flagship 'The Last of Us' video games' were hit by the cuts, the company announced on February 27.

All of PlayStation's London studio will be shuttered, according to the proposal.

"Delivering and sustaining social, online experiences – allowing PlayStation gamers to explore our worlds in different ways – as well as launching games on additional devices such as PC and Mobile, requires a different approach and different resources," PlayStation Studios boss Hermen Hulst wrote.

Hulst added that some games in development will be shut down, though he didn't say which ones.

In early February, Sony said it missed its target for selling PlayStation 5 consoles. The earnings report sent shares tumbling and the company's stock lost about $10 billion in value.

Bumble slashed 30% of its workforce
new bumble CEO Lidiane Jones
Lidiane Jones, CEO of Bumble.

Eugene Gologursky/Stringer/Gr

On February 27, the dating app company announced that it would be reducing its staff due to "future strategic priorities" for its business, per a statement.

The cuts will impact about 30% of its about 1,200 person workforce or about 350 roles, a representative for Bumble told BI by email.

"We are taking significant and decisive actions that ensure our customers remain at the center of everything we do as we relaunch Bumble App, transform our organization and accelerate our product roadmap," Bumble Inc CEO Lidiane Jones said in a statement.

Electronic Arts reduced its workforce by 5%
Electronic Arts  logo displayed on a phone screen
Electronic Arts is cutting hundreds of jobs.

Getty Images

Electronic Arts is laying off about 670 workers, equating to 5% of its workforce, Bloomberg reported in late February.

The gaming firm axed two mobile games earlier in February, which it described as a difficult decision in a statement issued to GamesIndustry.biz.

CEO Andrew Wilson reportedly told employees in a memo that it would be "moving away from development of future licensed IP that we do not believe will be successful in our changing industry."

Wilson also said in the memo that the cuts came as a result of shifting customer needs and a refocusing of the company, Bloomberg reported.

IBM cut staff in marketing and communications
Arvind Krishna, Chairman and Chief Executive Officer of IBM addresses the gathering on the first day of the three-day B20 Summit in New Delhi on August 25, 2023
IBM CEO Arvind Krishna said last year that he could easily see 30% of the company's staff getting replaced by AI and automation over the coming five years.

Sajjad Hussain/Getty Images

IBM's chief communications officer Jonathan Adashek told employees on March 12 that it would be cutting staff, CNBC reported, citing a source familiar with the matter.

An IBM spokesperson told Business Insider in a statement that the cuts follow a broader workforce action the company announced during its earnings call in January.

"In 4Q earnings earlier this year, IBM disclosed a workforce rebalancing charge that would represent a very low single-digit percentage of IBM's global workforce, and we expect to exit 2024 at roughly the same level of employment as we entered with," they said.

IBM has also been clear about the impact of AI on its workforce. In May 2023, IBM's CEO Arvind Krishna said the company expected to pause hiring on roles that could be replaced by AI, especially in areas like human resources and other non-consumer-facing departments.

"I could easily see 30% of that getting replaced by AI and automation over a five-year period," Krishna told Bloomberg at the time.

Amazon is laying off hundreds in its cloud division in yet another round of cuts this year
amazon logo in a building lobby
The cuts follow several rounds of layoffs at Amazon last year.

Mark Lennihan/Associated Press

Amazon is cutting hundreds of jobs from its cloud division known as Amazon Web Services, Bloomberg reported on April 3.

The reduction will impact employees on the sales and marketing team and those working on tech for its retail stores, Bloomberg reported.

"We've identified a few targeted areas of the organization we need to streamline in order to continue focusing our efforts on the key strategic areas that we believe will deliver maximum impact," an Amazon spokesperson told Bloomberg.

On March 26, Amazon announced another round of job cuts after the company said it was slashing 'several hundred' jobs at its Prime Video and MGM Studios divisions earlier this year to refocus on more profitable products.

"We've identified opportunities to reduce or discontinue investments in certain areas while increasing our investment and focus on content and product initiatives that deliver the most impact," Mike Hopkins, SVP of Prime Video and Amazon MGM Studios, told employees in January.

This year's cuts follow the largest staff layoff in the company's history. In 2023, the tech giant laid off 18,000 workers.

Apple has cut over 700 employees across its self-driving car, displays, and services groups
Tim Cook
The cuts follow Apple's decision to withdraw from two major projects.

Justin Sullivan/Getty Images

Apple slashed its California workforce by more than 600 employees in April.

The cuts came after Apple decided to withdraw from its car and smartwatch display projects.

The tech giant filed a series of notices to comply with the Worker Adjustment and Retraining Notification program. One of the addresses was linked to a new display development office, while the others were for the company's EV effort, Bloomberg reported.

Apple officially shut down its decadelong EV project in February. At the time, Bloomberg reported that some employees would move to generative AI, but others would be laid off.

Bloomberg noted that the layoffs were likely an undercount of the full scope of staff cuts, as Apple had staff working on these projects in other locations.

In late August, Bloomberg reported that Apple was slashing 100 jobs in its services group, citing people familiar with the matter.

The layoffs mainly involved people working on the Apple Books app and the Apple Bookstore, Bloomberg reported. Cuts were also made to other service teams like Apple News, the outlet added.

Representatives for Apple did not respond to a request for comment from Business Insider sent outside normal business hours.

Tesla laid off over 10% of its workforce
A red Tesla outside a Tesla showroom.
Impacted employees were notified that they were being terminated, effective immediately.

JOHN THYS / Getty

Tesla CEO Elon Musk sent a memo to employees on April 14, at nearly midnight in California, informing them of the company's plan to cut over 10% of its global workforce.

In his companywide memo, Musk cited "duplication of roles and job functions in certain areas" as the reason behind the reductions.

An email sent to terminated employees, obtained by BI, read: "Effective now, you will not need to perform any further work and therefore will no longer have access to Tesla systems and physical locations."

On April 29, Musk reportedly sent an email stating the need for more layoffs at Tesla. He also announced the departure of two executives and said that their reports would also be let go. Six known Tesla executives have left the company since layoffs began in April.

Grand Theft Auto 6 publisher Take-Two Interactive is reducing its workforce by 5%
Take-Two Interactive logo next to GTA6 banner
Take-Two Interactive is slated to cut around 600 roles this year.

Jakub Porzycki/NurPhoto/Getty Images

Take-Two Interactive, the parent company of Rockstar Games, said on April 16 that it would be "eliminating several projects" and reducing its workforce by about 5%.

The move β€” a part of its larger "cost reduction program" β€” will cost the video game publisher up to $200 million. It's expected to be completed by December 31.

As of March 2023, the company said it employed approximately 11,580 full-time workers.

Peloton announced it was reducing its staff by 15% as the CEO stepped down
Barry McCarthy
Barry McCarthy served as the CEO of Peloton for just over two years.

Getty/Ilya S. Savenok

Peloton CEO Barry McCarthy is stepping down, the company announced May 2. Along with his departure, the fitness company is also laying off about 400 workers.

McCarthy is leaving his role just two years after replacing John Foley as CEO and president in 2022. Peloton said the changes are expected to reduce annual expenses by over $200 million by the end of fiscal 2025 as part of a larger restructuring plan.

Indeed is cutting 1,000 workers after laying off 2,200 in 2023
Indeed
Indeed draws more than 250 million people from around the world each month, making it the largest job site.

SOPA Images / Getty Images

Careers site Indeed says it will lay off roughly 1,000 employees, or 8% of its workforce, as it looks to simplify its organization.

CEO Chris Hyams took responsibility for "how we got here" in a memo in May but said the company is not yet set up for growth after last year's global hiring slowdown caused multiple quarters of declining sales.

Hyams said the latest cuts will be more concentrated in the US and primarily affect R&D and Go-to-Market teams. It comes after last year's across-the-board reduction ofΒ 2,200Β workers.

Walmart is axing hundreds of corporate jobs
Walmart storefront
A Walmart storefront in the US.

Kena Betancur/VIEWpress via Getty Images

Retail giant Walmart is cutting hundreds of corporate jobs and asking remote employees to come to work, The Wall Street Journal reported in May, citing people familiar with the matter.

Workers in smaller offices, such as those in Dallas, Atlanta, and Toronto, are also being asked to move to central locations like Walmart's corporate headquarters in Arkansas or those in New Jersey or California, the Journal reported.

Under Armour is slashing an unspecified number of jobs, incurring $22 million in severance costs
Under Armour
An Under Armour retail store.

Alex Tai/SOPA Images/LightRocket via Getty Images

Under Armour confirmed it was conducting layoffs in its quarterly earnings report, which was released May 16.

The company said it will pay out employee severance and benefits expenses of roughly $15 million in cash-related and $7 million in non-cash charges this year related to a restructuring plan, with close to half of that occurring in the current fiscal quarter.

"This is not where I envisaged Under Armour playing at this point in our journey," CEO Kevin Plank told investors on the company's full-year earnings call.Β "That said, we'll use this turbulence to reconstitute our brand and business, giving athletes, retail customers and shareholders bigger and better reasons to care about and believe in Under Armour's potential."

Pixar cuts about 175 people in pivot back to feature films
Inside Out 2. Joy (Amy Poehler), Sadness (Phyllis Smith), Anger (Lewis Black), Fear (Tony Hale) and Disgust (Liza Lapira) react to a new emotion in Riley's head called Anxiety (Maya Hawke).
"Inside Out," a 2015 film, is one of Pixar's many hits.

Disney/Pixar

Disney's Pixar Animation Studios is cutting 175 people, about 14% of its staff, Reuters reported.

The cuts started on May 21 as the studio returns to its focus on feature-length movies. Former Disney CEO Bob Chapek, who was axed in 2022, had increased staff across studios to create more content for the company's streaming service, Disney+.

Pixar cut 75 jobs last year, Reuters previously reported, part of a larger restructuring across Disney.

Lucid Motors is slashing around 400 jobs
A Lucid Air car on display.
Lucid Motors will cut about 6% of its workforce.

John Keeble/Getty Images

In a regulatory filing, Lucid Motors said it would lay off about 400 employees as part of a restructuring plan that should be complete by the end of the third quarter.

"I'm confident Lucid will deliver the world's best SUV and dramatically expand our total addressable market, but we aren't generating revenue from the program yet," CEO Peter Rawlinson said in an email to employees obtained by TechCrunch.

The cuts come ahead of Lucid's launch of its first electric SUV later this year. It comes over a year after the California-based company laid off 1,300 employees, TechCrunch previously reported.

John Deere is laying off over 600 employees
line of green john deere tractors in a dirt lot with snow capped mountains in the background
John Deere tractors for sale at a dealer in Longmont, Colorado.

Rick Wilking/Reuters

John Deere, maker of the iconic green-and-yellow tractors, is laying off over 600 employees at factories in Illinois and Iowa, the AP reported July 1.

In May, John Deere said sales fell for the third consecutive quarter and projected that the declines would continue in the second half of its fiscal year.

Burberry is expected to cut 100s of jobs
Burberry
Burberry is reportedly cutting hundreds of roles.

Anton Novoderezhkin\TASS via Getty Images

London-based luxury retailer Burberry is expected to cut hundreds of jobs in the coming weeks, the Telegraph reported July 6.

Employees learned about the cuts in late June when they were told in a Zoom meeting that their roles could be eliminated or that they would need to apply for other jobs, according to the Telegraph.

Intuit announced cuts on July 10
Intuit logo
Intuit announced it would fire 1,800 employees as the company shifts focus to AI development.

Chris Helgren/Reuters

Intuit announced on July 10 that it's cutting its workforce by 10%. The layoffs will affect 1,800 employees nationwide, but the company plans to hire 1,800 new employees in "key areas" like engineering, InvestorPlace reports.

The refocus on other areas is following a shift in focus on AI within the company, according to the outlet.

Intuit's stock dropped by 4.01% on July 10 after the company announced the layoffs.

Tinder parent Match group plans to cut 6% of jobs
Tinder app
Tinder and Hinge parent company is cutting about 156 jobs globally.

Beata Zawrzel/NurPhoto via Getty Images

Match Group, the parent company of Tinder and Hinge, said on July 30 that it would reduce its global workforce by about 6%, or about 156 employees because it is exiting the livestreaming business.

Match said it would remove the livestreaming service from its app Plenty of Fish and sunset the Hakuna app, which focuses on Korea and Japan.

The reduction in workforce is expected to save the company $13 million in annual costs.

Disney cuts 140 jobs across its TV division
Disney+
Disney Entertainment Television (DET) is eliminating roughly 2% of its workforce.

SOPA Images/Getty Images

Deadline and Bloomberg reported in July that Disney was making cuts across its TV division, to the tune of roughly 140 jobs β€” or 2% of the staff at Disney Entertainment Television (DET).

Layoffs will impact National Geographic, owned television stations, the marketing and publicity departments, and Freeform, per a source close to the matter, which notes no teams have been eliminated.

While Disney's cable TV business generates billions, it's on the decline, Bloomberg reports, and the company is seeking to cut costs.

Last year, Disney slashed 7,000 jobs across multiple rounds of layoffs as part of a strategy implemented by returning CEO Bob Iger.

Intel plans to eliminate thousands of jobs
Life-size Intel logo.
Intel expected to eliminate thousands of jobs, Bloomberg reported.

Justin Sullivan/Getty Images

Intel plans to cut thousands of jobs in response to a second-quarter earnings slump, Bloomberg reported earlier this week, citing unnamed people familiar with the move.

It was officially announced on August 1, as it posted Q2 earnings. The company intends to reduce its workforce by 15% by the end of 2024.

"Our Q2 financial performance was disappointing, even as we hit key product and process technology milestones," Intel CEO Pat Gelsinger said in a statement. "Second-half trends are more challenging than we previously expected, and we are leveraging our new operating model to take decisive actions that will improve operating and capital efficiencies while accelerating our IDM 2.0 transformation."

Intel's stock was down following the lackluster earnings.

The layoffs come after the chip maker laid off about 5% of its workforce last year, bringing its head count down to around 124,000, Bloomberg reported.

During the last round of layoffs, announced in October 2022, Intel faced a drop in demand for processors for personal computers and estimated the layoffs would save $10 billion in costs by 2025, per Bloomberg.

Intel did not immediately respond to a request for comment.

WW International is cutting jobs in corporate
WeightWatchers logo in a storefront.
WeightWatchers is cutting down its staff.

Eugene Gologursky

Diet program creator WW International, formerly WeightWatchers, plans to lay off employees, it said in an earnings call on August 1.

The company did not specify the number of jobs it will cut. But the layoffs will largely focus on corporate positions, including a 40% cut in roles above and at the vice president level.

The cuts are expected to save the company $60 million, the company's chief financial officer said.

Dell is cutting sales jobs in new focus on AI products
The exterior of a Dell Technologies office building is seen on January 04, 2023 in Round Rock, Texas.
A Dell Technologies office building in Round Rock, Texas.

Brandon Bell/Getty

Dell is cutting jobs on its sales team, Bloomberg reported. It wasn't immediately clear how many jobs Dell planned to eliminate.

In a memo announcing the cuts, company executives said that the choice was part of a restructuring to focus more on selling AI products and data center services, Bloomberg reported.

Dell did not immediately respond to a request for comment from BI, but a spokesman told Bloomberg: "Through a reorganization of our go-to-market teams and an ongoing series of actions, we are becoming a leaner company."

Paramount Global announced it plans to slash 15% of its US workforce
Paramount on building
Paramount Global plans to cut 15% of its US workforce.

PATRICK T. FALLON/Getty Images

Paramount Global is planning to cut about 2,000 jobs ahead of its merger with Skydance Media, CNBC reported.

The company identified $500 million in cost savings as it prepared to join forces with Skydance, totalling about 15% of its US workforce, according to the outlet.

The cuts will begin in a few weeks and will mostly be finished by the end of 2024. Paramount employees in marketing and communications, finance, legal, technology, and other support functions have been targeted, the company said on an earnings call.

The cuts come about a month after Paramount agreed to merge with Skydance. Paramount shares jumped more than 5% after hours.

Stellantis is slashing white-collar and factory jobs
The logo of Stellantis is seen on the company's building in Velizy-Villacoublay near Paris, France, March 19, 2024.
Stellantis is cutting 400 jobs.

Gonzalo Fuentes/Reuters

In August, the owner of Jeep and Dodge announced it is cutting 2,450 factory workers from its Warren Truck assembly plant outside Detroit.

The layoffs come because the company is ending production of the Ram 1500 Classic truck, Stellantis said. These factory cuts came after white-collar jobs were axed earlier this year.

On March 22, the company said it would lay off employees on its engineering, technology, and software teams in an effort to cut costs, CNBC reported.

Stellantis announced plans for another round of layoffs on July 30, according to Bloomberg. The company is offering voluntary buyouts to non-unionized US employees to "assist those interested in pursuing other career options or retirement," Stellantis said in a message seen by Bloomberg.

The job cuts, the total number of which remains unknown, come after a difficult first half of the year, with unit sales sinking by 16% in the US.

Sonos laid off about 6% of its workforce
Sonos Roam, portable speakers
Sonos laid off about 100 workers in August.

Courtesy of Sonos

The audio equipment company said it slashed roughly 100 jobs in August. The layoffs significantly targeted its marketing division, The Verge reported.

CEO Patrick Spence said in a statement to BI that the company is now focusing on departing employees and "ensuring they have the support they need."

"This action was a difficult, but necessary, measure to ensure continued, meaningful investment in Sonos' product roadmap while setting Sonos up for long term success," Spence said.

Sonos is also reducing some of its customer support offices and will close one in Amsterdam later this year, according to The Verge.

The company previously cut around 7% of its workforce in June 2023, a month after it announced a 24% revenue drop in the second quarter compared to the previous year.

Cisco announced two rounds of layoffs this year
cisco
The cuts comprised 5% of the networking company's workforce.

REUTERS/Mike Blake

In February, networking company Cisco announced it was slashing 5% of its workforce, upward of 4,000 jobs, Bloomberg reported.

The company said it was restructuring after an industry-wide pullback in corporate tech spending β€” which execs said they expect to continue through the first half of the year.

On August 14, in a filing, Cisco said it would further reduce its global workforce by 7% amid sales and revenue declines.Β ReutersΒ reported earlier that the company was slashing around 4,000 jobs as it shifted attention to cybersecurity and artificial intelligence.

Per its latest annual filing, Cisco had about 85,000 employees as of July 2023.

GoPro is laying off nearly 140 employees
GoPro camera on white table
GoPro will go through a second round of layoffs in 2024.

David Becker via Getty Images

Long-troubled GoPro is laying off 15% of its 925 current employees, the company said in a filing.

The action sports camera maker reported a net loss of nearly $48 million in the quarter that ended in June, adding to a streak of consecutive losses.

The company laid off 4% of its staff in March.

Shell is reportedly planning for major cuts in its oil exploration division
Shell logo
Shell plans for major layoffs in its oil and gas exploration division.

INA FASSBENDER/Getty Images

Oil giant Shell will slash its workforce in oil and gas exploration and development by 20%, according to an August 29 report from Reuters. Company sources reportedly cited intentions to cut costs in the highly profitable segments due to "deep cuts in renewables and low-carbon businesses."

Exploration, wells development, and subsurface units will face hundreds of layoffs globally, with offices in Houston, The Hauge, and Britain expected to take the biggest hit, the sources told Reuters.

A Shell spokesperson would not comment directly on the layoffs but told Business Insider that, "Shell aims to create more value with less emissions by focusing on performance, discipline and simplification across the business."

"That includes delivering structural operating cost reductions of $2-3 billion by the end of 2025, as announced at our Capital Markets Day event in June 2023," the spokesperson added.

Goldman Sachs plans to lay off more than 1,300 workers, The Wall Street Journal reported
Goldman Sachs logo
Goldman Sachs has already begun cuts, The Wall Street Journal reported.

Michael M. Santiago/Getty Images

The global investment bank is set to cut hundreds of employees during annual reviews this year, The Wall Street Journal reported, citing people familiar with the situation.

Goldman Sachs is targeting low performers with the intention of laying off between 3% and 4% of its global workforce, equaling somewhere between 1,300 and 1,800 people, according to the outlet.

The cuts are already underway and will continue in the coming months, one person told the outlet. Goldman typically tries to cut anywhere from 2% to 7% of employees each year, per The Journal.

Gwyneth Paltrow's Goop is cutting 18% of staff
Gwyneth Paltrow speaks at the In goop Health Summit in Los Angeles in 2021.
Gwyneth Paltrow speaks at the In Goop Health Summit in Los Angeles in 2021. The wellness company is laying off 18% of its staff amid a strategy shift.

Rachel Murray/Getty Images for goop

Goop is cutting 18% of its 216-person staff, citing a change to its organization, WWD wrote in September. It will now focus on beauty, fashion, and food β€” specifically its Goop Beauty and good.clean.goop beauty brands, G.Label clothing line, and Goop Kitchen restaurants.

That means it's moving away from wellness, home, travel, and sexual wellness, some of which are categories that once defined the brand.

Samsung plans to cut jobs globally this year, Reuters reported
Samsung logo displayed on a phone
Samsung is planning global job cuts in 2024.

SOPA Images/Getty Images

Samsung is planning to cut jobs this year, a move that will impact workers in the US, Europe, Asia, and Africa, Reuters reported.

The electronic devices maker will cut up to 30% of staff in some divisions, the report says. It is unclear how many jobs will be impacted.

Samsung told Reuters in a statement that the workforce adjustments would not impact its production staff and that no specific targets for the cuts are in place.

Verizon is laying off 4,800 US employees
People walking by a Verizon location
Verizon will let go of 4,800 US-based management employees by March 2025.

Kena Betancur/VIEWpress/Getty Images

Verizon is letting go of 4,800 US-based management employees in a voluntary separation program.

The company said in a Securities and Exchange Commission filing that more than half of these employees would exit in September, while the rest will leave by the end of March 2025.

The telecommunications giant expects severance charges to cost as much as $1.9 billion before tax in the third quarter of this year.

General Motors is laying off about 1,700 employees in Kansas
GM logo at General Motors headquarters
General Motors is laying off about 1,700 employees at its Fairfax plant in Kansas.

Rebecca Cook/Reuters

General Motors is laying off 1,695 employees at its Fairfax plant in Kansas, the company said in a Worker Adjustment and Retraining Notification notice in mid-September.

The layoffs will begin in mid-November, and a second phase will continue in January, Reuters reported, citing a GM spokesperson. It is unclear which departments will be affected, but about 1,450 of these employees will be laid off temporarily, the spokesperson said.

In August, the carmaker laid off over 1,000 workers, or 1.3% of its workforce.

The August layoffs came primarily from GM's software and services business, which it had bulked up over the past few years. Last year, the company brought on two former Apple executives to run the unit.

Flexport conducts second round of layoffs in 2024
Flexport CEO Ryan Petersen began rescinding job offers on Friday.
Flexport CEO Ryan Petersen returned to the company in September.

Sam Barnes/Sportsfile for Collision via Getty Images

US logistics startup Flexport is laying off another 2% of its US staff this week as it aims to cut costs and reorganizes its retail delivery business.

The fulfillment center-focused cuts amount to about 40 people and were first reported by The Information, citing an internal memo.

In January, Flexport cut 15% of its staff, or around 400 people. Those cuts came after Flexport founder and CEO Ryan Petersen initiated a 20% reduction of its workforce of an estimated 2,600 employees in October 2023.

Flexport kicked off 2024 with the announcement that it raised $260 million from Shopify and made "massive progress toward returning Flexport to profitability."

NYCB's Flagstar Bank cuts 700 jobs
Flagstar bank branch
NYCB's Flagstar Bank is cutting 700 jobs as part of a business overhaul.

Facebook/Adobe Stock/BI

New York Community Bancorp's Flagstar Bank will cut 8% of its workforce, or 700 jobs, as it aims to revamp its business, the company's CEO, Joseph Otting, said in a statement on October 17.

An additional 1,200 employees will be laid off at the end of the quarter after the company sells its residential mortgage business.

NYCB is also changing its name to Flagstar Financial as part of the turnaround efforts after losses from its commercial real estate portfolio.

Chief, a networking group for female executives, made cuts across the company
Chief cofounders Lindsay Kaplan and Carolyn Childers speak onstage at TechCrunch Disrupt 2022.
Chief, cofounded by Lindsay Kaplan and Carolyn Childers, laid off staff.

Kimberly White/Getty Images for TechCrunch.

Chief, which has positioned itself as the nation's largest network of senior executive women, confirmed to Business Insider on October 20 that it has shed roles.

The company told BI that the cuts, which had already been announced internally, mainly impacted "our technology and administrative functions."

"Like many companies, we are balancing growth and profitability," the spokesperson added.

In a June press release, the American company said 40% of its members were C-suite executives and that they represent more than 10,000 companies.

In April 2023, Chief cut 14% of its workforce in what the founders called a "challenging economic environment," TechCrunch reported at the time.

This January, the company said it would close its London offices β€” opened one year previously β€” to refocus on the American market.

Visa will reportedly lay off around 1,400 people
Visa card close up
Visa plans to lay off around 1,400 people by the end of the year, The Wall Street Journal reported.

Jakub Porzycki/NurPhoto/Getty Images

Visa plans to lay off around 1,400 workers this year, The Wall Street Journal reported on October 29.

In a statement provided to BI, a Visa spokesperson said the company expects to grow its workforce for the foreseeable future but that it is continuously evolving to serve clients, innovate, and grow, "which can lead to the elimination of some roles."

"When this happens, we are committed to supporting our employees," the spokesperson added.

Workers affected by layoffs included employees and contractors, with more than 1,000 in technology roles, the Journal reported, citing unnamed sources familiar with the situation. Visa has more than 30,000 employees.

Dropbox is slashing around 20% of its global workforce
Dropbox CEO Drew Houston
Dropbox CEO Drew Houston announced the company is laying off around 20% of its workforce.

Reuters/ Mike Blake

The cloud storage company is laying off 528 employees, targeting "over-invested or underperforming" areas, CEO Drew Houston announced in an email sent to employees.

"As CEO, I take full responsibility for this decision and the circumstances that led to it, and I'm truly sorry to those impacted by this change," Houston wrote.

The Dropbox chief cited diminishing demand and macro headwinds in the company's core business, as well as excessive management levels, as contributing factors.

The layoffs come as the company is undergoing a "transitional period" with its growing File Sync and Share (FSS) business and greater efforts on products like Dash, Dropbox's AI-powered work assistant.

KPMG plans to cut nearly 4% of its US audit workforce.
KPMG logo
KPMG plans to lay off about 330 people in its US audit workforce.

Jakub Porzycki/NurPhoto via Getty Images

Consulting giant KPMG informed about 330 people, or less than 4%, in its US audit workforce that they would be laid off within the next couple of weeks, a spokesperson told BI.

"The actions reflect our ongoing focus to align the size, shape and skills of our workforce to the market, while addressing continued low levels of attrition," the spokesperson said in a written statement.

This follows an earlier round of layoffs in March, as well as another one last summer, that also affected the company's audit unit, similarly due to low levels of voluntary exits, the spokesperson said.

Nissan said it will slash 9,000 jobs globally.
The Nissan logo on the rear of a 2024 Nissan Z sports car.
Nissan said it will cute 20% of its staff.

Benjamin Zhang/Business Insider

Japanese automobile giant Nissan said during its November earnings release that it would be cutting 9,000 jobs in an attempt to save money.

The car company reported lower revenue for the period, which it attributed to higher selling and production costs. Nissan said it brought in about 32 million yen, or $208 million, at the end of the first half of the fiscal year β€” a steep drop from the $1.4 billion it reported for the same time last year.

In addition to a 20% production capacity reduction, CEO Makoto Uchida will give up 50% of his compensation and other executives have taken voluntary pay cuts.

NASA JPL plans to cut about 5% of its workforce.
mars curiosity rover
Mars Curiosity rover at the John Klein site.

NASA/JPL-Caltech/MSSS

NASA's Jet Propulsion Laboratory in California is cutting its workforce for the second time this year.

In November, the agency announced it plans to lay off 325 employees, or about 5% of its workforce. The cuts follow a round of layoffs in February, where JPL cut 530 employees.

"Although we can never have perfect insight into the future, I sincerely believe that after this action we will be at a more stable workforce level moving forward," JPL Director Laurie Leshin wrote in a company-wide memo.

Leshin added that the reductions affect all areas of JPL including technical, project, business, and support areas. The layoffs are the result of "continued funding challenges" Leshin wrote.

JPL is responsible for some of NASA's most daring feats like landing the Curiosity rover on Mars and guiding Voyagers 1 and 2 into interstellar space.

Associated Press will lay off 8% of its global staff.
A man walks out of Associated Press headquarters.
Associated Press will lay off 8% of its staff, the company announced in November.

Mario Tama/Getty Images

The Associated Press in November announced plans to reduce its staff by 8% through a combination of buyouts and layoffs.

"This is about ensuring AP's important role as the only truly independent news organization at scale during a period of transformation in the media industry," The Associated Press said in a statement about the cuts.

The union representing a portion of AP members indicated 121 of its guild members would be offered buyouts before layoffs began, per AP.

Less than half of the expected cuts will involve news employees, the outlet reported, and though the AP has bureaus around the world, a majority of the staff reduction will occur within the United States.

Sotheby's laid off 100 workers.
Sotheby's logo and filled room
Sotheby's laid off 100 workers in its New York offices.

Alexi Rosenfeld/Getty Images

Sotheby's cut 100 employees from its New York offices on Tuesday, the company confirmed to multiple publications. The layoffs include back-office workers, junior staffers, and specialists, reports said.

The layoffs come as the auction market has experienced a recent slowdown in sales and earnings. The company also previously cut about 50 employees in its London location, Art News reported.

Sotheby's recently closed a deal in October for Abu Dhabi investment company ADQ to acquire a minority stake in the company. ADQ said in a press release about the deal that the $1 billion investment was meant to support Sotheby's domestic and international expansion plans.

Sotheby's did not immediately respond to a request for comment from BI.

Wells Fargo plans to cut over 700 workers in Oregon.
wells fargo
Wells Fargo plans to cut over 700 workers in Oregon locations.

REUTERS/ Shannon Stapleton

Wells Fargo filed two WARN notices on December 4 sharing plans to lay off over 700 workers in Oregon, including 500 people from its Hillsboro location and 221 employees from its Salem office. It also plans to shut down both offices.

The company said in its filing that it verbally notified employees of the changes on December 3, and plans to deliver formal notices for displacement in the fourth quarter of 2025. Wells Fargo said it will provide more details on impacted roles at a later time.

Those who don't get relocated into other roles within the business are eligible to receive severance based on years of service and their opportunity to use the company health plan at active rates, the filing said.

"We continue to bring the majority of our non-customer facing positions together in locations best suited for our customers and our company," a Wells Fargo spokesperson told BI. "This effort does not impact our commitment to serving customers and clients."

Read the original article on Business Insider

Citadel founder Ken Griffin said he would be 'open' to selling a stake in his $65 billion hedge fund

Ken Griffin speaking on a stage
Ken Griffin is willing to sell a part of his $65 billion hedge fund for the first time.

Michael Kovac

  • Citadel founder Ken Griffin said on Thursday that he's "open" to selling a stake in his hedge fund.
  • Griffin had previously sold a minority stake in his market maker to VC funds Sequoia and Paradigm.
  • He said he'd look for "a partner that feels like Sequoia."

BlackRock's potential investment into Izzy Englander's Millennium might have Citadel founder Ken Griffin thinking.

At the Economic Club of New York Thursday, Griffin complimented BlackRock founder Larry Fink for being a "legend in asset management" and said that if the tie-up eventually does go through, "it's a very interesting" one. The early-stage talks between BlackRock and multistrategy rival Millennium were reported by the Financial Times earlier this month.

Asked if he would consider such a move, the billionaire said he'd "be open to selling a minority stake," which Citadel, the $65 billion hedge fund that's become the most profitable firm in the industry's history, has never done.

"We take great pride in being a private partnership," he said, and believes the structure has helped the firm run smoothly for the more than 30 years it's been in existence.

Nearly every hedge fund is still owned by its founders and a select group of partners, even the older industry giants like Citadel, though Griffin may be looking to sell a stake at the peak. He said in a Bloomberg interview on Tuesday that the extreme growth that has added billions of assets to his fund and his peers' is not likely to continue.

In New York Thursday, he pointed out the benefits of selling a stake in his market maker Citadel Securities in 2022 to venture capital firms Sequoia and Paradigm for more than $1 billion. The investment valued the firm at $22 billion.

He said Sequoia in particular brought "real insights" into how to manage a rapidly growing company, noting the firm's past investments into Apple and Nvidia before the two companies were public.

Griffin said Sequoia has pushed Citadel Securities' leadership in the boardroom, making them a better company.

As for who he'd want as a minority stakeholder of Citadel, Griffin clearly has a type.

"We'd look for a partner that feels like Sequoia," he said.

Read the original article on Business Insider

Then and Now: The cast of 'School of Rock' 21 years later

The cast of "School of Rock" including Jack Black pose together in 2023
Jack Black and fellow cast members at the premiere of "School of Rock" in 2003.

Frederick M. Brown/Getty Images

  • The hit musical-comedy "School of Rock" (2003) came to theaters over 20 years ago.
  • Jack Black, Joan Cusack, and Sarah Silverman had strong careers before and after the film.Β 
  • Miranda Cosgrove made a name for herself on TV, but many of the young actors left Hollywood.Β 

"School of Rock" hit theaters in October 2003. The movie starred Jack Black as a struggling musician who impersonates his friend to get a gig as a substitute teacher at a prestigious prep school and enlists a class of fourth-graders to perform at a local battle of the bands.Β 

Richard Linkletter directed the beloved film, which Andrew Lloyd Webber turned into a Broadway musical and which was adapted into a Nickelodeon TV show. Here's what the movie's stars have been up to the past two decades since its debut.Β 

Jack Black, who starred as Dewey Finn, is still a successful actor and musician.
A side-by-side image of Jack Black in 2004 and 2023
Jack Black in 2004 and 2023.

Dave Hogan/Getty Image 2004 ; Albert L. Ortega/Getty Images 2023

Prior to rocking out and pretending to be Mr. Schneebly in "School of Rock," Jack Black already had an impressive career.

He'd been acting since 1984 and was known for films like "The Cable Guy" (1996), "High Fidelity" (2000), "Orange County" (2002), and "Ice Age" (2002).

The actor also starred on HBO's "Tenacious D," which chronicled a fictionalized version of his rock duo with Kyle Gass.

After "School of Rock," Black went on to star in major films like "King Kong" (2005), "Nacho Libre" (2006), "Tenacious D and the Pick of Destiny" (2006), "The Holiday" (2006), "Tropic Thunder" (2008), the "Kung Fu Panda" franchise, and the "Jumanji" reboots.

He's also made several TV appearances on shows like Fox's "The Simpsons," Nickelodeon's "iCarly," and HBO's "The Brink."Β 

Outside of acting, Black and Gass have released several Tenacious D albums and videos. The duo recently suspended their 2024 tour after Gass joked about an attempted assassination of Donald Trump.

In 2023 alone, Black appeared in Hulu's "History of the World: Part II," "The Super Mario Bros. Movie," and Disney+'s "The Mandalorian."Β 

In March, Black told Ireland's JOE he'd love to work on a "School of Rock" sequel but said that the original screenplay's writer, Mike White, might be too busy with his huge hit "The White Lotus."

Miranda Cosgrove has starred in various hit movies and on TV shows since she played Summer.
A side-by-side image of Miranda Cosgrove in 2003 and 2023
Miranda Cosgrove in 2003 and 2023.

George Pimentel/WireImage via Getty Images ; Weiss Eubanks/NBCUniversal via Getty Images

Miranda Cosgrove played the precocious band manager Summer Hathaway in "School of Rock."

Her only acting credit before the film was a brief appearance on The WB's "Smallville."

After the movie, Cosgrove landed a leading role on Nickelodeon's "Drake and Josh" before starring on the network's "iCarly."Β 

She's also worked on movies like "Yours, Mine and Ours" (2005), the "Despicable Me" franchise, "3022" (2019), and "North Hollywood" (2021).Β 

Cosgrove has released albums and singles in between acting roles as well.Β 

The actor reprised her starring role in the recently canceled Paramount+ "iCarly" revival series and was a lead alongside Brooke Shields and Benjamin Bratt in Netflix's "Mother of the Bride" (2024).

"School of Rock" was Joey Gaydos Jr.'s only acting credit.
A side-by-side image of Joey Gaydos Jr. in 2004 an 2015
Joey Gaydos Jr. in 2004 an 2015.

Jun Sato/WireImage via Getty Images ; Jenny Anderson/Getty Images

Joey Gaydos Jr. played Zack Mooneyham, a shy student who's coaxed out of his shell to play guitar for the band.Β 

This was his only acting role. He went on to release a self-titled rock album in 2004.

He has also had a few legal troubles over the years.Β 

In 2009, Gaydos was arrested on a charge of driving under the influence at 17 years old. In 2019, he was arrested after he was accused of stealing several guitars in the state of Florida, authorities said at the time.Β 

He still makes music and released a few EPs in 2020, including "Dogtopia" and "Calm Weather." He regularly posts videos of himself playing guitar on Instagram.

Robert Tsai left the spotlight to focus on his education and musical talent.
A side-by-side image of Robert Tsai in 2003 and 2015
Robert Tsai in 2003 and 2015

George Pimentel/WireImage via Getty Images ; Bruce Glikas/FilmMagic via Getty Images

Robert Tsai played Lawrence, the band's demure yet talented pianist.

"School of Rock" was Tsai's only acting credit.

After the film, he went on to study at Dartmouth College where he continued performing as a pianist.

Rivkah Reyes is working as a performer, writer, and musician today.
A side-by-side image of Rivkah Reyes in 2004 and 2023
Rivkah Reyes in 2004 and 2023.

Jun Sato/WireImage via Getty Images ; Michael Tullberg/Getty Images

Rivkah Reyes' first acting role was as bassist Katie in the film. They landed the role after playing classical bass on an episode of NPR's "From the Top."

Since "School of Rock," the actor has been open about experiencing the negative effects of child stardom. In a 2020 Medium article, they wrote about developing an eating disorder; turning to drugs, alcohol, sex, and self-harm; and attempting suicide.Β 

They said they entered recovery for alcoholism and addiction in 2018.Β 

After taking a hiatus from acting, Reyes moved to LA and started working for a skincare company while performing gigs. They also traveled as a stand-up comedian and competed on NBC's "Bring the Funny."

The actor went on to appear in several movies, including "Bad Animal" (2021), Lifetime's "A Picture Perfect Holiday" (2021), and "A Holiday I Do" (2023).

In recent years, Reyes hosted a podcast where they interviewed former child stars, gained a following on TikTok, and performed live play readings with Acting for a Cause.

Their latest acting credit was an episode of the OUTtv series "Off Shoot"Β  (2024). Reyes also continues to perform music and recently released a single titled "another vice."

Kevin Clark, who played Freddy, left Hollywood to pursue music full time.
A side-by-side image of Kevin Clark in 2003 and 2015
Kevin Clark in 2013 and 2015.

George Pimentel/WireImage via Getty Images ; Bruce Glikas/FilmMagic via Getty Images

Kevin Clark played Freddy Jones, a rebellious student who played drums for the band.Β 

"School of Rock" was Clark's only acting credit.Β 

After filming the movie, he pursued a full-time music career and drummed for Chicago-based bands Dreadwolf and Jess Bess and the Intentions.Β 

He also taught students at a local "School of Rock" location, The Chicago Sun-Times reported.

In 2021, Clark died at 32 after a driver hit him while he was riding his bike.

Costar Reyes recalled that Clark suggested the film's ending, with the band losing the contest but winning over the audience and getting to play an encore.Β Β 

Aleisha Allen worked on a few more films after "School of Rock" before changing careers.
A side-by-side image of Aleisha Allen in 2003 and 2015
Aleisha Allen in 2003 and 2015.

Frederick M. Brown/Getty Images ; Jenny Anderson/Getty Images

Aleisha Allen played Alicia, one of the band's singers.

Before lending her vocals for the film, the actor voiced Sidetable Drawer on Nick Jr.'s "Blue's Clues." She also appeared in "The Best Man" (1999).Β 

After "School of Rock," Allen starred alongside Ice Cube in the family comedies "Are We There Yet" (2005) and "Are We Done Yet" (2007), and she appeared in "Young Adult" (2011).

Her last acting credit on IMDb is "You're Nobody 'til Somebody Kills You" (2012).

In a shift from her acting career, Allen attended Pace University and Columbia University, and she's now a speech-language pathologist.

Maryam Hassan, who played Tomika, has been working as an independent singer.
A side-by-side image of Maryam Hassan in 2004 and 2015
Maryam Hassan in 2004 and in 2015.

Dave Benett/Getty Images ; Bruce Glikas/FilmMagic via Getty Images

Maryam Hassan played Tomika, another one of the band's singers who surprised everyone with her powerful voice.Β 

Like many of the young stars, "School of Rock" was her only acting role.Β 

Since then, she's been working as a singer under the name Mayhrenate. Her latest song, from 2022, is called "Feel a Way."

In 2021, Hassan told Vulture that over a dozen members of the cast remained close.

"We have a group chat," she said. "We keep in touch pretty frequently and drop in our projects. I drop my music in, Miranda drops her acting projects in, stuff like that. Others have left the industry and talk about their families."

Caitlin Hale, who played Marta, went on to work in the medical field.
A side-by-side image of Caitlin Hale in 2003 and 2015
Caitlin Hale in 2003 and 2015.

Jeffrey Mayer/WireImage via Getty Images ; Bruce Glikas/FilmMagic via Getty Images

Caitlin Hale played Marta, the band's third singer.Β 

Hale voiced a character on two episodes of "Blue's Clues" before joining "School of Rock."

After the film, she left Hollywood and became a registered diagnostic medical sonographer and an OB-GYN ultrasound technologist.

Hale is also currently dating her "School of Rock" costar Angelo Massagli.

Brian Falduto became a singer-songwriter and certified life coach.
A side-by-side of Brian Falduto in 2003 and 2024
Brian Falduto in 2003 and 2024.

Jeffrey Mayer/WireImage via Getty Images ; Noam Galai/Getty Images

Brian Falduto played Billy, the fashion-forward costume designer for the band.Β 

"School of Rock" is one of the young actor's only credits on IMDb. After the role, Falduto said he was in denial about his sexuality. "I didn't come out until my senior year of college," he said on the "Cooper and Anthony Radio Show" in 2021.

He pursued degrees in theatre performance and arts administration at Wagner College before landing a number of off-Broadway and regional theater roles.Β 

He also launched a career as a country musician, releasing an EP in 2017 and an album in 2018. His most recent single, "Same Old Country Love Song," came out in 2023. Earlier this year, he covered Dolly Parton's "Why'd You Come Here Lookin' Like That."Β 

Outside of performing, Falduto is a life coach, primarily for LGBTQ+ individuals. He launched a podcast, The Gay Men's Self-Help Book Club, and The Gay Men's Mindfulness Collective.

He was also the first guest on Reyes' "Where Are We Now" podcast in 2021.

Cole Hawkins worked as a child actor but has since left the industry.
A side-by-side image of Cole Hawkins in 2003 and 2015
Cole Hawkins in 2003 and 2015

Frederick M. Brown/Getty Images ; Walter McBride/WireImage via Getty Images

Cole Hawkins played Leonard in the movie, one of the students in the class.Β 

Before "School of Rock," he appeared in "Big Daddy" (1999), "Meet the Parents" (2000), and "Kate and Leopold" (2001).

But he wasn't a musician. "The only thing that they had taught us to play in a New York City public school was a recorder, so I faked it," he told Rolling Stone in 2023.

Hawkins went on to appear in NBC's "Law & Order: Special Victims Unit," "The Naked Brothers Band: The Movie" (2005), and "The Water is Wide" (2006).

His last acting credit on IMDb was in 2006 on NBC's "Law & Order: Criminal Intent."

Angelo Massagli stopped acting a few years after "School of Rock."
A side-by-side image of Angelo Massagli in 2003 and 2013
Angelo Massagli in 2003 and 2013

Jeffrey Mayer/WireImage via Getty Images ; Rick Kern/Getty Images

Angelo Massagli played Frankie, another student in the class.Β 

Before "School of Rock," the young actor had a few film and TV credits, including CBS' "Cosby" and "Stuart Little 2" (2002).Β 

Between 2002 and 2007, he played Bobby Baccalieri Jr. on HBO's "The Sopranos."Β 

Massagli graduated from the University of Miami School of Law in 2019 and works as a music product counsel for TikTok, according to his LinkedIn page. He is dating his "School of Rock" costar, Hale.

Joan Cusack has worked steadily as an actress since playing Principal Mullins.
A side-by-side image of Joan Cusack in 2003 and in 2015
Joan Cusack at the 2003 "School of Rock" premiere and in 2015.

Jean-Paul Aussenard/WireImage via Getty Images ; Sonia Recchia/Getty Images for Sundance

Before filming "School of Rock," Joan Cusack was well known for blockbusters likeΒ  "Addams Family Values" (1993), "Grosse Pointe Blank" (1997), "Runaway Bride" (1999), and "Toy Story 2" (1999).

She also acted in "Working Girl" (1988) and "In and Out" (1997), both of which earned her Academy Award nominations for best supporting actress.Β 

On TV, Cusack had roles on NBC's "Saturday Night Live" and ABC's "What About Joan?" before joining the cast of "School of Rock."

After the movie, she continued to star in family films like "Ice Princess" (2005), "Chicken Little" (2005), "Kit Kittredge: An American Girl" (2008), the "Toy Story" sequels, and "Klaus" (2019).Β 

She also went on to roles in "Confessions of a Shopaholic" (2009), "My Sister's Keeper" (2009), "The Perks of Being a Wallflower" (2012), "Popstar: Never Stop Never Stopping" (2016), and "Instant Family" (2018).

Cusack also continued her TV career on Showtime's "Shameless," Netflix's "A Series of Unfortunate Events," and, most recently, Amazon Prime's "Homecoming" in 2020.

Mike White, who played Ned, is a successful actor and writer.
A side-by-side image of Mike White in 2003 and 2023
Mike White in 2003 and 2023.

George Pimentel/WireImage via Getty Images ; Don Arnold/Getty Images

Mike White played Ned Schneebly, the friend and teacher that Dewey impersonates throughout the movie. He also wrote the film's screenplay.

Prior to "School of Rock," he wrote and appeared in movies like "Chuck and Buck" (2000) and "Orange County" (2002).Β 

Since the film, White has been a writer for several movies, including "Nacho Libre" (2006), "Pitch Perfect 3" (2017), and "Despicable Me 4" (2024).

He's also written for several TV series throughout his career, such as The WB's "Dawson's Creek," NBC's "Freaks and Geeks," HBO's "Enlightened" (which he also acted in), and Nickelodeon's "School of Rock" series.Β 

White recently won several Emmy Awards for his HBO series "The White Lotus."

Sarah Silverman is an accomplished comedian with over 100 performing credits to her name.
A side-by-side image of Sarah Silverman in 2003 and 2024
Sarah Silverman in 2003 and 2024.

George Pimentel/WireImage via Getty Images ; Amy Sussman/Getty Images

Sarah Silverman played Patty Di Marco, Ned's responsible girlfriend.Β 

The comedic actor got her start writing and performing on "Saturday Night Live" in the 1990s before landing roles in films like "There's Something About Mary" (1998), "The Bachelor" (1999), and "Heartbreakers" (2001).

After "School of Rock," Silverman continued to work on TV, starring on Comedy Central's "The Sarah Silverman Program" and voicing characters on Fox's "Bob's Burgers."

She also worked on "Rent" (2005), "The Muppets" (2011), "Wreck-It Ralph" (2012), "A Million Ways to Die in the West" (2014), "Battle of the Sexes" (2017), "Space Jam: A New Legacy" (2021), and "Marry Me" (2022).Β 

Most recently, she returned to her cartoon role in "The Bob's Burgers Movie" (2022), starred in "Menorah in the Middle" (2022), and appeared in the 2023 Leonard Bernstein biopic "Maestro."Β 

This story was originally published on May 22, 2021, and most recently updated on November 19, 2024.

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