OpenAI's day in the sun is overOpenAI is facing serious financial struggles as it tries to maintain its position in the competitive AI landscape.
Elon Musk says he'll withdraw $97.4B OpenAI bid if Sam Altman abandons for-profit plansElon Musk will withdraw his $97.4 billion bid for OpenAI if it halts its nonprofit-to-for-profit restructuring plans.
OpenAI reshuffles Sam Altman's job once againOpenAI is reshuffling leadership roles to strengthen operations and research focus amidst recent departures.
OpenAI will need to prove it's in the public's best interest as it becomes a for-profit companyOpenAI's restructuring aims to balance investor returns with its commitment to social responsibility.The new structure may protect OpenAI from activist investors while pursuing its mission.
Inside OpenAI's Path to Becoming a For-Profit Powerhouse | HackerNoonOpenAI is restructuring from a hybrid to a for-profit benefit corporation, shifting control and allowing greater profitability while maintaining some nonprofit goals.
OpenAI's Latest Hire Is 95-Year-Old Labor Activist Dolores Huerta?Dolores Huerta has joined OpenAI's philanthropic advisory board, raising questions about the company's intentions during its transition to for-profit.
OpenAI's day in the sun is overOpenAI is facing serious financial struggles as it tries to maintain its position in the competitive AI landscape.
Elon Musk says he'll withdraw $97.4B OpenAI bid if Sam Altman abandons for-profit plansElon Musk will withdraw his $97.4 billion bid for OpenAI if it halts its nonprofit-to-for-profit restructuring plans.
OpenAI reshuffles Sam Altman's job once againOpenAI is reshuffling leadership roles to strengthen operations and research focus amidst recent departures.
OpenAI will need to prove it's in the public's best interest as it becomes a for-profit companyOpenAI's restructuring aims to balance investor returns with its commitment to social responsibility.The new structure may protect OpenAI from activist investors while pursuing its mission.
Inside OpenAI's Path to Becoming a For-Profit Powerhouse | HackerNoonOpenAI is restructuring from a hybrid to a for-profit benefit corporation, shifting control and allowing greater profitability while maintaining some nonprofit goals.
OpenAI's Latest Hire Is 95-Year-Old Labor Activist Dolores Huerta?Dolores Huerta has joined OpenAI's philanthropic advisory board, raising questions about the company's intentions during its transition to for-profit.
TikTok is shaking up its e-commerce team as it prepares to launch in a key marketTikTok is restructuring its e-commerce team to enhance oversight from global leaders, particularly from China and Singapore.
Southwest Air to cut 15% of corporate jobs in first-ever layoffsSouthwest Airlines will cut about 1,750 jobs, marking its first layoffs to reduce expenses amid financial challenges.
Chevron slashes several hundred jobs in East Bay amid Texas HQ moveChevron plans to cut 600 jobs in San Ramon as part of a restructuring effort after moving its headquarters to Texas.
Boeing to lay off 17,000 employees to 'stay competitive'Boeing is cutting approximately 17,000 jobs to ensure long-term competitiveness amidst ongoing challenges including a machinist strike.
Salesforce planning more job cuts amid AI hiring pushSalesforce plans to cut 1,000 jobs while hiring for AI-related roles, marking a significant shift in its workforce strategy.
One of the world's biggest oil companies is cutting thousands of jobsBP is cutting 7,700 jobs as part of a strategy to simplify and enhance competitiveness.
Citigroup Lays Off Data Analysis Roles, Managing Directors | EntrepreneurCitigroup plans to reduce 20,000 jobs by 2026 to save on costs.The restructuring includes significant organizational simplification for improved decision-making.
Southwest Air to cut 15% of corporate jobs in first-ever layoffsSouthwest Airlines will cut about 1,750 jobs, marking its first layoffs to reduce expenses amid financial challenges.
Chevron slashes several hundred jobs in East Bay amid Texas HQ moveChevron plans to cut 600 jobs in San Ramon as part of a restructuring effort after moving its headquarters to Texas.
Boeing to lay off 17,000 employees to 'stay competitive'Boeing is cutting approximately 17,000 jobs to ensure long-term competitiveness amidst ongoing challenges including a machinist strike.
Salesforce planning more job cuts amid AI hiring pushSalesforce plans to cut 1,000 jobs while hiring for AI-related roles, marking a significant shift in its workforce strategy.
One of the world's biggest oil companies is cutting thousands of jobsBP is cutting 7,700 jobs as part of a strategy to simplify and enhance competitiveness.
Citigroup Lays Off Data Analysis Roles, Managing Directors | EntrepreneurCitigroup plans to reduce 20,000 jobs by 2026 to save on costs.The restructuring includes significant organizational simplification for improved decision-making.
Automattic lays off 16 percent of its workforce after a turbulent yearAutomattic is laying off 16% of its workforce to remain competitive and agile in a changing tech landscape.
WordPress maker Automattic lays off 16% of staff | TechCrunchAutomattic is laying off 16% of its workforce to restructure and adapt to a competitive, rapidly-evolving market.
Automattic lays off 16 percent of its workforce after a turbulent yearAutomattic is laying off 16% of its workforce to remain competitive and agile in a changing tech landscape.
WordPress maker Automattic lays off 16% of staff | TechCrunchAutomattic is laying off 16% of its workforce to restructure and adapt to a competitive, rapidly-evolving market.
Steve Kornacki exits MSNBC for new deal with NBC News and NBC SportsSteve Kornacki expands his role at NBC while exiting MSNBC amid its corporate separation from NBC News.
Niantic Cuts Staff at Ferry Building After $3.85 Billion Deal Splits the CompanyNiantic lays off 68 employees as it restructures into two firms, including a focus on geospatial technology.The layoffs, affecting key executives, are part of Niantic's strategy to operate more efficiently in its new startup model.
SF tech company Niantic lays off staff from Ferry Building after $3.85B megadealNiantic's restructuring leads to job losses as it focuses on a new geospatial technology company, resulting in significant layoffs affecting 68 workers.
Niantic Cuts Staff at Ferry Building After $3.85 Billion Deal Splits the CompanyNiantic lays off 68 employees as it restructures into two firms, including a focus on geospatial technology.The layoffs, affecting key executives, are part of Niantic's strategy to operate more efficiently in its new startup model.
SF tech company Niantic lays off staff from Ferry Building after $3.85B megadealNiantic's restructuring leads to job losses as it focuses on a new geospatial technology company, resulting in significant layoffs affecting 68 workers.
Why Gordon Singer is more powerful than ever at his father's $70 billion firmGordon Singer rises in influence at Elliott Management amidst strategic reorganization, despite losing autonomy over the London office.
With the strike over, Boeing tries to refocus on what made the company iconicBoeing's future in aerospace is uncertain due to significant financial losses and internal production issues requiring comprehensive changes.
Sony's 2 CEOs become 1, as Hideaki Nishino steps up "take the helm", with Hermen Hulst continuing to lead PlayStation's first-party studiosSony is restructuring its leadership with Hideaki Nishino becoming President and CEO of SIE, emphasizing growth and creativity in the PlayStation community.
Independence Home Loans hires Gil Arbitsman as CFOGil Arbitsman, with extensive financial leadership experience, has joined Independence Home Loans as CFO to drive growth and strategic decision-making.
New HSBC boss ready to axe senior bankers to save $300m'HSBC plans to save $300 million by restructuring and cutting senior banker positions under new CEO Georges Elhedery.
How to Build Career Resilience in Uncertain TimesLeadership roles can be unexpectedly fragile, highlighting the need for trust and connections.Executive transitions require preparation for unforeseen circumstances.
Why Gordon Singer is more powerful than ever at his father's $70 billion firmGordon Singer rises in influence at Elliott Management amidst strategic reorganization, despite losing autonomy over the London office.
With the strike over, Boeing tries to refocus on what made the company iconicBoeing's future in aerospace is uncertain due to significant financial losses and internal production issues requiring comprehensive changes.
Sony's 2 CEOs become 1, as Hideaki Nishino steps up "take the helm", with Hermen Hulst continuing to lead PlayStation's first-party studiosSony is restructuring its leadership with Hideaki Nishino becoming President and CEO of SIE, emphasizing growth and creativity in the PlayStation community.
Independence Home Loans hires Gil Arbitsman as CFOGil Arbitsman, with extensive financial leadership experience, has joined Independence Home Loans as CFO to drive growth and strategic decision-making.
New HSBC boss ready to axe senior bankers to save $300m'HSBC plans to save $300 million by restructuring and cutting senior banker positions under new CEO Georges Elhedery.
How to Build Career Resilience in Uncertain TimesLeadership roles can be unexpectedly fragile, highlighting the need for trust and connections.Executive transitions require preparation for unforeseen circumstances.
After its entire board resigned overnight, 23andMe will cut over 200 employees and its cancer research in an urgent bid to nurse the company back to health23andMe is restructuring by laying off 40% of its workforce and ceasing therapy programs to focus on its core consumer business.
DNA testing firm 23andMe files for bankruptcy as CEO steps down23andMe has filed for Chapter 11 bankruptcy to facilitate its sale and restructure amid significant losses and CEO departure.
23andMe files for bankruptcy as CEO steps down23andMe has filed for Chapter 11 bankruptcy to facilitate a sale amidst ongoing financial struggles.
As 23andMe Crumbles, It Ceases All Efforts to Develop Drugs Using DNA Data23andMe is restructuring, laying off 40% of its workforce, and abandoning its therapeutics program amidst severe financial struggles.
Genetic testing firm 23andMe cuts 40% of its workforce amid financial struggles23andMe is cutting 40% of its workforce and halting therapy development to focus on consumer services after a significant data breach.
After its entire board resigned overnight, 23andMe will cut over 200 employees and its cancer research in an urgent bid to nurse the company back to health23andMe is restructuring by laying off 40% of its workforce and ceasing therapy programs to focus on its core consumer business.
DNA testing firm 23andMe files for bankruptcy as CEO steps down23andMe has filed for Chapter 11 bankruptcy to facilitate its sale and restructure amid significant losses and CEO departure.
23andMe files for bankruptcy as CEO steps down23andMe has filed for Chapter 11 bankruptcy to facilitate a sale amidst ongoing financial struggles.
As 23andMe Crumbles, It Ceases All Efforts to Develop Drugs Using DNA Data23andMe is restructuring, laying off 40% of its workforce, and abandoning its therapeutics program amidst severe financial struggles.
Genetic testing firm 23andMe cuts 40% of its workforce amid financial struggles23andMe is cutting 40% of its workforce and halting therapy development to focus on consumer services after a significant data breach.
Spirit Airlines files for bankruptcy protection but plans to keep flyingSpirit Airlines filed for Chapter 11 bankruptcy but will continue operations and ticket sales during restructuring.
Swedish battery champion Northvolt facing financial meltdown as CEO resignsNorthvolt's CEO resigns amid financial turmoil and bankruptcy protection filing, highlighting the company's efforts to reorganize and stabilize.
Party City closing all stores nationwide, at least 80 of them in CaliforniaParty City is closing all stores due to lagging sales and unable to pay rent, marking the end of its decades-long operation.
Vitamin Shoppe, Pet Supplies Plus owner files for bankruptcyFranchise Group has filed for Chapter 11 bankruptcy, struggling with $2 billion in debt and impacted by investment firm B. Riley's financial turmoil.
The CEO of The Container Store resigns weeks after the company exited bankruptcyThe Container Store's CEO resigns immediately after the company's bankruptcy exit, citing new opportunities.The company faces sales struggles post-pandemic despite restructuring efforts.
The eight obituaries of a Shanghai personMr. Chen Qi's career ended amid company restructuring, leading to bankruptcy and the legal severance of family ties.
Spirit Airlines files for bankruptcy protection but plans to keep flyingSpirit Airlines filed for Chapter 11 bankruptcy but will continue operations and ticket sales during restructuring.
Swedish battery champion Northvolt facing financial meltdown as CEO resignsNorthvolt's CEO resigns amid financial turmoil and bankruptcy protection filing, highlighting the company's efforts to reorganize and stabilize.
Party City closing all stores nationwide, at least 80 of them in CaliforniaParty City is closing all stores due to lagging sales and unable to pay rent, marking the end of its decades-long operation.
Vitamin Shoppe, Pet Supplies Plus owner files for bankruptcyFranchise Group has filed for Chapter 11 bankruptcy, struggling with $2 billion in debt and impacted by investment firm B. Riley's financial turmoil.
The CEO of The Container Store resigns weeks after the company exited bankruptcyThe Container Store's CEO resigns immediately after the company's bankruptcy exit, citing new opportunities.The company faces sales struggles post-pandemic despite restructuring efforts.
The eight obituaries of a Shanghai personMr. Chen Qi's career ended amid company restructuring, leading to bankruptcy and the legal severance of family ties.
Intel hires new CEO in struggling chipmaker's latest comeback attemptIntel has appointed Lip-Bu Tan as the new CEO amid significant challenges facing the company.
Intel Posts $16.6 Billion Quarterly Loss, Its Biggest EverIntel reported its largest quarterly loss in history, signaling deep challenges in the semiconductor sector.Despite significant losses, there are signs of an impending turnaround under CEO Pat Gelsinger.
Intel could be in for significant changes as Lip-Bu Tan takes on CEO role | TechCrunchIntel's new CEO, Lip-Bu Tan, plans to implement major changes to improve the company's performance.
Intel hires new CEO in struggling chipmaker's latest comeback attemptIntel has appointed Lip-Bu Tan as the new CEO amid significant challenges facing the company.
Intel Posts $16.6 Billion Quarterly Loss, Its Biggest EverIntel reported its largest quarterly loss in history, signaling deep challenges in the semiconductor sector.Despite significant losses, there are signs of an impending turnaround under CEO Pat Gelsinger.
Intel could be in for significant changes as Lip-Bu Tan takes on CEO role | TechCrunchIntel's new CEO, Lip-Bu Tan, plans to implement major changes to improve the company's performance.
Starbucks to lay off 1,100 workers and cut these 13 drinks amid lackluster salesStarbucks plans to lay off 1,100 corporate employees to streamline operations and improve efficiency.
Southwest Airlines is cutting 15% of its workforce in its first-ever mass layoff. Read the CEO's full memo to employees.Southwest Airlines is making significant workforce reductions due to profitability issues.
Southwest Airlines Plans to Cut 15% of Its Work ForceSouthwest Airlines is cutting 15% of its workforce, marking its first layoffs in history to enhance organizational agility.
What happens in Sweden when a company wants to make staff redundant?Swedish law allows companies to lay off workers for 'objective reasons', even in profitable situations.
Mass General Brigham's second round of major layoffs begins this weekMass General Brigham is laying off hundreds of administrative staff to address a $250 million budget gap over the next two years.
Tech layoffs 2025 update: HP, Grubhub, Autodesk, Ibotta, are the latest to cut jobs and employeesTech industry job cuts rose sharply in late February with companies like HP, Grubhub, and Autodesk announcing layoffs.
Starbucks to lay off 1,100 workers and cut these 13 drinks amid lackluster salesStarbucks plans to lay off 1,100 corporate employees to streamline operations and improve efficiency.
Southwest Airlines is cutting 15% of its workforce in its first-ever mass layoff. Read the CEO's full memo to employees.Southwest Airlines is making significant workforce reductions due to profitability issues.
Southwest Airlines Plans to Cut 15% of Its Work ForceSouthwest Airlines is cutting 15% of its workforce, marking its first layoffs in history to enhance organizational agility.
What happens in Sweden when a company wants to make staff redundant?Swedish law allows companies to lay off workers for 'objective reasons', even in profitable situations.
Mass General Brigham's second round of major layoffs begins this weekMass General Brigham is laying off hundreds of administrative staff to address a $250 million budget gap over the next two years.
Tech layoffs 2025 update: HP, Grubhub, Autodesk, Ibotta, are the latest to cut jobs and employeesTech industry job cuts rose sharply in late February with companies like HP, Grubhub, and Autodesk announcing layoffs.
Google shook up its Cloud sales strategy unit, internal memo revealsGoogle Cloud is restructuring its strategy team to improve sales productivity and market response.
Workday erases 8.5% of workforce because of...AIWorkday is laying off 8.5% of its workforce due to AI-driven restructuring efforts.
Google shook up its Cloud sales strategy unit, internal memo revealsGoogle Cloud is restructuring its strategy team to improve sales productivity and market response.
Workday erases 8.5% of workforce because of...AIWorkday is laying off 8.5% of its workforce due to AI-driven restructuring efforts.
Netflix Gaming And Generative AI Chief Has Left The CompanyMike Verdu, Netflix's VP of gaming, has left amid significant layoffs and restructuring in Netflix's gaming division.Netflix is pivoting its gaming strategy following Verdu's departure, with new leadership under Alain Tascan.
Ubisoft Refuses To Comment On Tencent Rumors But Says It's Exploring Options To Maximize ValueUbisoft is pursuing a financial restructuring plan emphasizing cost reductions and strategic options after disappointing game sales.
Netflix Gaming And Generative AI Chief Has Left The CompanyMike Verdu, Netflix's VP of gaming, has left amid significant layoffs and restructuring in Netflix's gaming division.Netflix is pivoting its gaming strategy following Verdu's departure, with new leadership under Alain Tascan.
Ubisoft Refuses To Comment On Tencent Rumors But Says It's Exploring Options To Maximize ValueUbisoft is pursuing a financial restructuring plan emphasizing cost reductions and strategic options after disappointing game sales.
Walgreens could go private in deal with Sycamore PartnersSycamore Partners may split Walgreens Boots Alliance into three distinct businesses if a private deal is confirmed.
Starbucks is cutting some 'less popular' drinks from its menu. Here's what will be removed next weekStarbucks is cutting less popular drinks to streamline its menu and enhance operational efficiency.
HSBC slashes costs by 8% in $1.5bn drive as it scales back net-zero pledgesHSBC plans an 8% staff cut to save $1.5 billion, with significant implications for UK employees amidst restructuring efforts.
Honda Still Might Have Saved NissanNissan and Honda's proposed merger failed, highlighting Nissan's need for internal reform.
Warner Bros. Discovery separates TV networks from its streaming and studio businessWarner Bros. Discovery is restructuring its linear TV and streaming businesses to adapt to the declining cable industry.
Media Buying Briefing: IPG and its many challenges (and opportunities)Interpublic Group faces significant challenges ahead of its acquisition by Omnicom, with disappointing earnings and a restructuring plan that may affect staff.
Warner Bros. Discovery separates TV networks from its streaming and studio businessWarner Bros. Discovery is restructuring its linear TV and streaming businesses to adapt to the declining cable industry.
Media Buying Briefing: IPG and its many challenges (and opportunities)Interpublic Group faces significant challenges ahead of its acquisition by Omnicom, with disappointing earnings and a restructuring plan that may affect staff.
Executive shakeups continue at Douglas EllimanStephen Kotler's leadership significantly shaped Douglas Elliman, but he is stepping down amid major organizational changes.
BP to Reset' Strategy After Pressure From Investors, C.E.O. SaysBP's CEO promises a strategic reset, focusing on increasing oil and gas production while reducing investment in low-emission technologies.
Kerry Group windfall: 110 shareholders net more than 1m each from sell-off of Kerry Co-opFarming families in the south-west financially gained significantly from the Kerry Group PLC's share allocation worth over €1 million per family.
Texas tech giant shuts the door on future hybrid, remote workersDell is ending most remote positions, requiring in-office work for hybrid employees within an hour of offices starting March 3.
Inside Amazon's plan to cut managers: More direct reports, fewer senior hires, and pay cutsAmazon is restructuring by reducing middle management to enhance efficiency and speed in decision-making.
It's a really bad time to be a middle managerAmerican businesses are rapidly restructuring to eliminate middle management, favoring efficiency and flattening corporate hierarchies.
The great post-pandemic middle-manager cullThe pandemic accelerated a trend towards video conferencing and has led to a reduction in middle management roles within companies.
Inside Amazon's plan to cut managers: More direct reports, fewer senior hires, and pay cutsAmazon is restructuring by reducing middle management to enhance efficiency and speed in decision-making.
It's a really bad time to be a middle managerAmerican businesses are rapidly restructuring to eliminate middle management, favoring efficiency and flattening corporate hierarchies.
The great post-pandemic middle-manager cullThe pandemic accelerated a trend towards video conferencing and has led to a reduction in middle management roles within companies.
Hornby to sell loss making miniature car maker Oxford DiecastThe Independent is committed to providing accessible journalism during critical times.Hornby is selling a loss-making subsidiary to improve profitability.
Sainsbury's to close 61 in-store cafes see if your local is affectedThe Independent emphasizes the importance of unbiased journalism in today's complex news environment.Sainsbury's is restructuring to cut costs, closing cafes, and resulting in significant job losses.
Hornby to sell loss making miniature car maker Oxford DiecastThe Independent is committed to providing accessible journalism during critical times.Hornby is selling a loss-making subsidiary to improve profitability.
Sainsbury's to close 61 in-store cafes see if your local is affectedThe Independent emphasizes the importance of unbiased journalism in today's complex news environment.Sainsbury's is restructuring to cut costs, closing cafes, and resulting in significant job losses.
Intel to spin out Intel Capital this yearIntel has decided to spin out its venture capital arm Intel Capital to attract new investments while remaining an anchor investor.
Cisco "needs to be 10 times better" than competitionCisco is restructuring under the leadership of Jeetu Patel to modernize its product portfolio and enhance innovation capabilities.
Future of TV Briefing: How the future of TV shaped up in 20242024 was a significant year for corporate restructuring in the TV and streaming industries.
BREAKING: Northvolt CEO Peter Carlsson resigns as battery maker fights for survivalCarlsson resigns as Northvolt CEO but will stay on as senior advisor during company's Chapter 11 restructuring.
Centric reorganizes and cuts jobs: will this end the turmoil?Centric is simplifying its organizational structure to reduce costs and merge divisions, impacting 1,900 employees in the Netherlands.
BREAKING: Northvolt CEO Peter Carlsson resigns as battery maker fights for survivalCarlsson resigns as Northvolt CEO but will stay on as senior advisor during company's Chapter 11 restructuring.
Centric reorganizes and cuts jobs: will this end the turmoil?Centric is simplifying its organizational structure to reduce costs and merge divisions, impacting 1,900 employees in the Netherlands.
GM pulls plug on Cruise robotaxi after investing more than $10B in self-driving businessGM halts funding for robotaxi development at Cruise, citing high costs and competition despite prior expectations of significant revenue.
Edelman cuts 5% of global workforce amid restructuringEdelman is restructuring to streamline global PR services amid economic challenges, impacting over 330 employees and closing several boutique agencies.
Unilever wants to sell brands worth 1 billion in sales collectively to trim the fat, reports sayUnilever is streamlining its operations by selling off non-core food brands and focusing on its top-performing products.
Luminate Home Loans to close NEO divisionLuminate Home Loans is closing its NEO division to focus on integrating mortgage lending into its banking services.
Unilever wants to sell brands worth 1 billion in sales collectively to trim the fat, reports sayUnilever is streamlining its operations by selling off non-core food brands and focusing on its top-performing products.
Luminate Home Loans to close NEO divisionLuminate Home Loans is closing its NEO division to focus on integrating mortgage lending into its banking services.
Dickies, 102-year-old Texas workwear company, moving its HQ to CaliforniaDickies is relocating its headquarters from Texas to Costa Mesa as part of a restructuring plan by parent company VF Corp.
Number of PwC partners taking early retirement jumps amid consulting slowdownPwC is experiencing an unusual number of early retirements among partners, signaling significant changes in response to declining revenues.
Begbies Traynor predicts surge in insolvencies following budget impactBusinesses in the UK are expected to face increased financial distress due to budget changes, particularly rising National Insurance contributions.
Tobacco giants would pay out $32.5B to provinces, smokers in 'historic' proposed deal | CBC NewsTobacco companies propose a $25 billion payment plan due to longstanding legal battles and health impacts from smoking.
CVS Ousts Karen Lynch as C.E.O. and Shares FallCVS Health ousted CEO Karen S. Lynch amidst sluggish growth and investor pressure, appointing David Joyner as new chief to tackle financial issues.
Meta fires staffers who misused $25 meal credits to buy wine glasses, acne pads: reportMeta recently fired about two dozen employees for misusing a meal perk, illustrating strict enforcement of company policies during organizational restructuring.
Apple's chief people officer, who reports directly to Tim Cook, is leaving the company after less than 2 yearsCarol Surface is leaving Apple after less than two years as chief people officer, amid multiple executive changes within the company.
Boeing Seeks to Line Up Billions in Financing as Strike Goes OnBoeing is taking measures to strengthen its financial position amidst rising costs and a significant ongoing strike.
Meet Jeff Smith, the hedge-fund investor taking on PfizerStarboard Value's $1 billion investment in Pfizer signals potential strategic changes, aiming to enhance operational efficiency and profitability.
Can China's economic stimulus boost German growth? DW 10/07/2024The German economy faces prolonged stagnation due to high energy prices, challenging foreign markets, and structural issues, leading to reduced exports and job losses.