The Federal Reserve plans to cut its workforce by about 10% “over the next couple of years” amid a periodic review of its staffing levels, Federal Reserve Chair Jerome Powell told Fed staff in a memo obtained by PYMNTS. In the memo, Powell said offers of voluntary...
Microsoft is reportedly laying off 3% of its workforce, or about 6,000 employees, to reduce the number of management layers. The job cuts are not performance-related, CNBC reported Tuesday (May 13), citing a Microsoft spokesperson. “We continue to implement organizational changes necessary to best position...
U.S. Bank has tapped banking industry veteran Dan Son to lead its working capital finance division. A press release Thursday (April 24) stated that Son will succeed Sam Philbrick, who is retiring after a 45-year career in banking, including 18 years at U.S. Bank. Joining...
Dave Davis, formerly chief financial officer and president of Sun Country Airlines, will become Spirit’s CEO next week, the airline announced Thursday (April 17). “We’re excited to welcome Dave as Spirit’s new president and CEO,” Robert Milton, chairman of Spirit Airlines, said in a news release. “He...
TransferMate has appointed its chief product officer, Gary Conroy, to become its CEO, beginning this summer. Conroy will succeed Sinéad Fitzmaurice, who will step down from that role this summer but remain involved with the business, TransferMate, a provider of embedded B2B payments infrastructure as a service,...
Featurespace, a provider of global fraud and financial crime solutions, announced a leadership change following its acquisition by Visa. CEO Martina King will retire and be succeeded by Jason Blackhurst, who will take on the role of senior vice president, head of Featurespace and acceptance...
Digital investing platform InvestiFi appointed a new president and chief operating officer. Todd Clark, formerly the CEO of credit union network CO-OP Solutions, will oversee several aspects of InvestiFi’s operations, the company announced in a Monday (March 31) press release emailed to PYMNTS. “Todd is...
The Federal Trade Commission (FTC) has appointed deputies to its competition and consumer protection divisions. Taylor C. Hoogendoorn has been named deputy director of the commission’s Bureau of Competition, while Katherine White will serve as deputy director of the Bureau of Consumer Protection, the regulator...
The U.S. Treasury is preparing sweeping layoffs, the latest in a series of federal job cuts. That’s according to recent court documents flagged in media reports Wednesday (March 26), stemming from a complaint aiming to stop layoffs by the Elon Musk-led Department of Government Efficiency...
