Economic Slowdown

ESPN Layoffs Claim 150 Jobs; Channel Shifts to Digital Media

ESPN Layoffs

Sports network ESPN, owned by Walt Disney Co (NYSE:DIS), is laying off around 150 people as it continues to shift to digital media. John Skipper, president of ESPN, made the announcement to staff on Wednesday. It has been a difficult year for the cable company; the loss of 1.4 million subscribers has cost ESPN millions in revenue. (more…)

Macy’s Store Closings 2017: Department Store Initiates Cost-Cutting Measures as Store Traffic Falls

Macy's Store Closings January 2017

Macy’s Inc. (NYSE:M) continues to have a difficult 2017, having announced 100 store closures and thousands of layoffs as the company grapples with the “retail apocalypse.” Macy’s, along with a slew of other retailers and big department store chains, including Nordstrom, Inc. (NYSE:JWN), has been plagued by falling sales and store closures, which can be attributed, in (more…)

Chicago Brauhaus Closing in December, German Restaurant Adds to Growing List of Chicago Restaurants Closing in 2017

Chicago Brauhaus Closing

Chicago Brauhaus is closing its doors after serving traditional German food and beer for more than 50 years.  The German restaurant is closing on December 11, which means loyal fans have only one more month to order the Brauhaus Special, Eisbein mit Sauerkraut, or Hühner Schnitzel and listen to the dulcet tunes of the Brauhaus (more…)

China-Based Perfect World Entertainment Closings & Layoffs in Seattle: Runic Games & Motiga Hit By Cost-Cutting

Perfect World Entertainment, a subsidiary of Perfect World Co., Ltd. (ADR) (NASDAQ:PWRD), announced that it has closed Torchlight and Hob studio Runic Games in Seattle and is laying off staff at Gigantic developer Motiga Games. The China-based company isn’t closing Motiga, but it is facing layoffs, with only support staff being left to keep it up (more…)

Layoffs to Follow Dynegy-Vistra Energy Merger: Texas Power Market Continues to Suffer Due to Low Electricity Prices

Vistra Energy Corp. (NASDAQ:VST) announced it is acquiring Dynegy Inc (NYSE:DYN) in an all-stock deal valued at $1.74 billion. Debt-laden Dynegy has seen its margins shrink in the face of cheaper electricity prices.  The merger of the two Texas-based energy producers will create one of the largest integrated power companies in the U.S., with a (more…)