Bloomberg Money Minute: LinkedIn Job Cuts, Lululemon Strategy, and US Retail Sales Data

Added: 2026-05-18

[00:00:00]This is a Bloomberg Money Minute job cuts at a major employment platform.

[00:00:04]LinkedIn is cutting workers in the tech industries latest move to reduce headcount in the artificial intelligence age.

[00:00:09]Executives at the professional social network told workers the company must operate more profitably. The reductions at the Microsoft owned company will impact a range of job functions, including engineering, product and marketing. However, the full scope of the cuts is not clear. Lulu Lemons, incoming CEO, gave her first speech to employees this week, pledging to put the athleisure brand back on track. Heidi O'Neill joins the company from Nike in September. She says her priority will be to recapture sales growth, and lemon has struggled with issues for some of its products and rising competition for yoga wear.

[00:00:41]Stocks are higher even after a report showing retail sales rose at a slower pace in April. This suggests that higher gas prices are forcing some shoppers to temper their spending.

[00:00:50]The value of retail purchases rose half a percent.

[00:00:53]Right now, all three major averages are ahead between a third and a half percent. Erica Herskovitz, Bloomberg.