News Corp. lays off 500 employees at Amplify educational unit prior to sale
News Corp. says it has laid off about 500 of the 900 employees at its money-losing Amplify educational unit and sold it to Amplify managers and private investors for an undisclosed amount.
The move comes after the publishing company booked a US$371 million write-off on the Amplify business, which sought to sell tablets to schools and develop a digital curriculum. The business lost US$93 million in the year through June on US$109 million in revenue. sure that federal supervision of the nation’s community banks does not impose undue regulatory burdens.
Yellen made no reference to Fed interest rate policies during her brief speech to a conference of 160 bankers and financial leaders attending a St. Louis, Missouri conference.
The remarks marked her first public appearance since a health scare last week. Near the end of a lengthy speech, Yellen, 69, paused for several seconds and stumbled over some words.