Business news in brief
By The Associated Press
Advisory over faulty air bag replacements in used cars issued
The National Highway Traffic Safety Administration is warning drivers about “cheap, substandard replacement air bag inflators” that can fail to prevent serious injuries or death in a vehicle wreck.
The agency said Wednesday that three people have been killed and two suffered severe injuries in the past nine months due to substandard, aftermarket air bag inflators.
In each of the five cases in which someone was killed or injured, the vehicle had previously been involved in a crash and the original airbags were replaced.
The NHTSA is urging anyone buying a used car to secure a vehicle history report.
Tax preparation company Intuit to lay off 1,800
WASHINGTON | Tax preparation and financial software company Intuit announced an AI-focused reorganization plan Wednesday that includes laying off about 10% of its workforce.
The company behind QuickBooks and TurboTax said it was laying off 1,800 employees, but that it expects to hire at least that many in fiscal 2025 as it accelerates its focus on incorporating artificial intelligence into its products and services.
In an email to employees, CEO Sasan Goodarzi said more than 1,000 of the layoffs were employees that were not meeting the company’s elevated expectations.
Another 300 positions are being eliminated “to streamline work and reallocate resources toward key growth areas,” the email said.
CNN cutting jobs, CBS News president announces resignation
NEW YORK | CBS News President Ingrid Ciprian-Matthews said Wednesday she’s resigning after less than a year in her role, and CNN announced that it was eliminating approximately 100 jobs in continued signs of upheaval for the media business.
Ciprian-Matthews will continue to work as an adviser through the presidential election before exiting CBS News. She was named CBS News president last August.
CNN said it plans to debut its first digital subscriptions before the end of the year as the news network leans into reshaping its business. The network’s plans were outlined in a memo sent to staff on Wednesday by CNN CEO Mark Thompson.
Thompson said that the 100 jobs come out of a total workforce of around 3,500 people. He said that open roles were closed wherever possible in order to minimize the total layoffs.
—From AP reports
