Wall Street Breakfast Washington Post announces sweeping layoffs
5 snips
Feb 4, 2026 Massive newsroom cuts at a major paper and the push for profitability lead the conversation. A chipmaker tumbles despite beating earnings. Drugmaker growth from GLP-1 products gets attention. Ride-hailing firm misses profit and updates autonomous vehicle plans. Sportsbook operator posts record online betting results. Bitcoin slides amid warnings of a crypto death spiral.
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Post Cuts Signal Strategic Retrenchment
- The Washington Post cut roughly one-third of staff and scaled back major desks to chase profitability.
- The moves signal a narrowing of ambitions as owner Jeff Bezos confronts steep losses estimated at $100 million in 2024.
Staff Reaction Was Described As Funereal
- Staffers described the day of layoffs as a "bloodbath" and the mood as funereal during the Zoom meeting.
- Journalists had publicly pleaded with Jeff Bezos for a different course before the cuts.
AMD Beat Numbers, Yet Faces Leverage Questions
- AMD's stock plunged despite beating revenue and earnings as investors worry about operating leverage.
- JPMorgan flagged potential margin risk as AMD ramps MI450 Helios later this year.