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On October 12, Iranian Foreign Minister Araqchi and Saudi Foreign Minister Faisal held a telephone conversation on the evening of October 11 to exchange views on the current regional situation. Araqchi expressed concern about the escalating regional tensions and emphasized that insisting on military means while ignoring a political solution would only further complicate the current situation. Araqchi stressed that there is no military solution to the regional crisis and that Iran is willing to provide all possible assistance to facilitate dialogue between Saudi Arabia and Yemen and ultimately reach a political solution.The U.S. National Hurricane Center: The center of Hurricane Simon continues to glide along the west-central coast of Mexico, where hurricane weather is possible; new hurricane watch warnings have been issued for areas further north of the Mexican coast.Market sources indicate that Iranian Foreign Minister Araqchi, in a phone call with the Saudi Foreign Minister, stated that taking military action instead of seeking a diplomatic solution would further complicate the situation. Iran is willing to assist in facilitating dialogue between Saudi Arabia and the Houthi rebels to reach a political solution.A spokesperson for the Islamic Revolutionary Guard Corps released an image showing a missile facing the ocean, with a U.S. aircraft carrier visible in the crosshairs of its sights. The caption read: "We are waiting."The Iranian foreign minister informed the Saudi foreign minister that Tehran was prepared to provide assistance in facilitating dialogue between Saudi Arabia and Yemen.

Bed Bath & Beyond Will Reduce Expenses by Laying Off Additional Employees

Charlie Brooks

Jan 11, 2023 10:50

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Bed Bath & Beyond (NASDAQ:BBBY) will lay off further employees in an effort to reduce expenses, the company revealed on Tuesday, a week after admitting that it was exploring bankruptcy as a possibility.


The previous year, company officials said that the home goods retailer would downsize its corporate and supply chain workforce by about 20%.


"As our strategic direction moves and we streamline our operations, it is imperative that we restructure our organization to ensure we are future-ready," the firm said in a statement posted on Tuesday, without disclosing the number of new layoffs.


Earlier in the day, Bed Bath & Beyond reported a third-quarter loss of $393 million and announced that it had begun slashing costs by between $80 million and $100 million throughout its whole corporate organization, including overhead costs and headcount.


The stock price of the company soared by around 20% as individual investors speculated that it could be a takeover target.


The post of chief transformation officer, now held by Anu Gupta, will be eliminated by Bed Bath & Beyond, according to CNBC, which first reported the recent layoffs.

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