Fed’s Rate Cut Is Jolting Small Businesses to Spend Again

The workforce will be reduced by 40% through job cuts, outsourcing and business sales. There are 27,000 jobs in production and administration.

Getty shareholders will own about 54.7% of the combined company, which will retain the Getty name. Shares of both companies surged on the news.

Once a stalwart supporter of Black and LGBTQ rights, the retailer joined corporate America’s retreat from DEI initiatives.