• Last year's job cuts weren't the end of layoffs. Further reductions have begun in 2024.
• Companies like Tesla, Google, Microsoft, Nike, and Amazon have announced plans for cuts this year.
• See the full list of corporations reducing their worker numbers in 2024.

A slew of companies across the tech, media, finance, and retail industries made significant cuts to staff in 2023. Tech titans like IBM, Google, Microsoft, finance giants like Goldman Sachs, and manufacturers like Dow all announced layoffs.

This year is looking grim too. And it's only May.

Nearly 40% of business leaders surveyed by ResumeBuilder think layoffs are likely at their companies this year, and about half say their companies will implement a hiring freeze. ResumeBuilder talked to about 900 leaders at organizations with more than 10 employees. Half of those surveyed cited concerns about a recession as a reason.

Another major factor is artificial intelligence. Around four in 10 respondents said they'll conduct layoffs as they replace workers with AI. Dropbox, Google, and IBM have already announced job cuts related to AI.

Here are the dozens of companies with job cuts planned or already underway in 2024.

Nike's up-to-$2 billion cost-cutting plan will involve severances.

Nike announced its cost-cutting plans in a December 2023 earnings call, discussing a slow growth in sales. The call subsequently resulted in Nike's stock plunging.

"We are seeing indications of more cautious consumer behavior around the world," Nike Chief Financial Officer Matt Friend said in December.

Google laid off hundreds more workers in 2024.

On January 10, Google laid off hundreds of workers in its central engineering division and members of its hardware teams — including those working on its voice-activated assistant.

In an email to some affected employees, the company encouraged them to consider applying for open positions at Google if they want to remain employed. According to the email, April 9 will be the last day for those unable to secure a new position.

The tech giant laid off thousands throughout 2023, beginning with a 6% reduction of its global workforce (about 12,000 people) last January.

Discord is laying off 170 employees.

Discord employees learned about the layoffs in an all-hands meeting and a memo sent by CEO Jason Citron in early January.

"We grew quickly and expanded our workforce even faster, increasing by 5x since 2020," Citron said in the memo. "As a result, we took on more projects and became less efficient in how we operated."

In August 2023, Discord reduced its headcount by 4%. According to CNBC, the company was valued at $15 billion in 2021.

Citi will cut 20,000 from its staff as part of its corporate overhaul.

The layoffs announced in January are part of a larger Citigroup initiative to restructure the business and could leave the company with a remaining head count of 180,000 — excluding its Mexico operations.

In an earnings call that month, the bank said that layoffs could save the company up to $2.5 billion after it suffered a "very disappointing" final quarter last year.

Amazon-owned Twitch also announced job cuts.

Twitch announced on January 10 that it would cut 500 jobs, affecting over a third of the employees at the live-streaming company.

CEO Dan Clancy announced the layoffs in a memo, telling staff that while the company has tried to cut costs, the operation is "meaningfully" bigger than necessary.

"As you all know, we have worked hard over the last year to run our business as sustainably as possible," Clancy wrote. "Unfortunately, we still have work to do to rightsize our company and I regret having to share that we are taking the painful step to reduce our headcount by just over 500 people across Twitch."

BlackRock is planning to cut 3% of its staff.

Larry Fink, BlackRock's chief executive, and Rob Kapito, the firm's president, announced in January that the layoffs would affect around 600 people from its workforce of about 20,000.

However, the company has plans to expand in other areas to support growth in its overseas markets.

"As we prepare for 2024 and this very exciting but distinctly different landscape, businesses across the firm have developed plans to reallocate resources," the company leaders said in a memo.

Rent the Runway is slashing 10% of its corporate jobs as part of a restructuring.

In the fashion company's January announcement, COO and president Anushka Salinas said she will also be leaving the firm, Fast Company reported.

Unity Software is eliminating 25% of its workforce.

Around 1,800 jobs at the video game software company will be affected by the layoffs announced, Reuters reported in January.

eBay is cutting 1,000 jobs.

In a January 23 memo, CEO Jamie Iannone told employees that the eBay layoffs will affect about 9% of the company's workforce.

Iannone told employees that layoffs were necessary as the company's "overall headcount and expenses have outpaced the growth of our business."

The company also plans to scale back on contractors.

Microsoft is reducing its headcount by 1,900 at Activision, Xbox, and ZeniMax.

In late January, nearly three months after Microsoft acquired video game firm Activision Blizzard, the company announced layoffs in its gaming divisions. The layoffs mostly affect employees at Activision Blizzard.

"As we move forward in 2024, the leadership of Microsoft Gaming and Activision Blizzard is committed to aligning on a strategy and an execution plan with a sustainable cost structure that will support the whole of our growing business," Microsoft Gaming CEO Phil Spencer said in a memo obtained by The Verge.

The cuts come a year after the tech giant announced it was reducing its workforce by 10,000 employees. It then slashed a further 1,000 roles across sales and customer service teams in July 2023.

Salesforce is cutting 700 employees across the company, The Wall Street Journal reported.

Salesforce announced a round of layoffs that the company says will affect 1% of its global workforce, The Journal reported in late January.

The cuts followed a wave of cuts at the cloud giant last year. In 2023, Marc Benioff's company laid off about 10% of its total workforce — or roughly 7,000 jobs. The CEO said the company over-hired during the pandemic.

Flexport lays off 15% of its workers.

In late January, the US logistics startup laid off 15% of its staff which is around 400 workers.

The move came after Flexport founder and CEO Ryan Petersen initiated a 20% reduction of its workforce of an estimated 2,600 employees in October.

Flexport kicked off 2024 with the announcement that it raised $260 million from Shopify and made "massive progress toward returning Flexport to profitability."

iRobot is laying off around 350 employees and founder Colin Angle will step down as chairman and CEO.

The company behind the Roomba Vacuum announced layoffs in late January around the same time Amazon decided not to go through with its proposed acquisition of the company, the Associated Press reported.

UPS will cut 12,000 jobs in 2024.

The UPS layoffs will affect 14% of the company's 85,000 managers and could save the company $1 billion in 2024, UPS CEO Carol Tomé said during a January earnings call.

Paypal CEO Alex Chriss announced the company would lay off 9% of its workforce.

Announced in late January, this round of layoffs will affect about 2,500 employees at the payment processing company.

"We are doing this to right-size our business, allowing us to move with the speed needed to deliver for our customers and drive profitable growth," CEO Alex Chriss wrote in a January memo. "At the same time, we will continue to invest in areas of the business we believe will create and accelerate growth."

Okta is cutting roughly 7% of its workforce.

The digital-access-management company announced its plans for a "restructuring plan intended to improve operating efficiencies and strengthen the Company's commitment to profitable growth" in an SEC filing in February.

The cuts will impact roughly 400 employees.

Okta CEO Todd McKinnon told staff in a memo that "costs are still too high," CNBC reported.

Snap has announced more layoffs.

The company behind Snapchat announced in February that it's reducing its global workforce by 10%, according to an SEC filing.

Estée Lauder said it will eliminate up to 3,100 positions.

The cosmetics company announced in February that it would be cutting 3% to 5% of its roles as part of a restructuring plan.

Estee Lauder reportedly employed about 62,000 employees around the world as of June 30, 2023.

DocuSign is eliminating roughly 6% of its workforce as part of a restructuring plan.

The electronic signature company said in an SEC filing in February that most of the cuts will be in its sales and marketing divisions.

Zoom is slashing 150 jobs.

The latest reduction announced in February amounts to about 2% of its workforce.

Paramount Global is laying off 800 employees days after record-breaking Super Bowl.

In February, Paramount Global CEO Bob Bakish sent a memo to employees announcing that 800 jobs — about 3% of its workforce — were being cut.

Deadline obtained the memo less than a month after reporting plans for layoffs at Paramount. The announcement comes on the heels of Super Bowl LVIII reaching record-high viewership across CBS, Paramount+, and Nickelodeon, and Univision.

Morgan Stanley is trimming its wealth management division by hundreds of staffers.

Morgan Stanley is laying off several hundred employees in its wealth-management division, the Wall Street Journal reported in February, representing roughly 1% of the team.

The wealth-management division has seen some slowdown in recent months, with net new assets down by about 8% from a year ago. The layoffs mark the first major move by newly-installed CEO Ted Pick, who took the reins from James Gorman on January 1.

Cisco slashes more than 4,000 jobs amid corporate tech sales slowdown.

In February, networking company Cisco announced it was slashing 5% of its workforce, or upwards of 4,000 jobs, Bloomberg reported.

The company said it was restructuring after an industry-wide pullback in corporate tech spending — which execs said they expect to continue through the first half of the year.

Expedia Group is cutting more than 8% of its workforce.

Cutbacks part of an operational review at online travel giant Expedia Group are expected to impact 1,500 roles this year, a company spokesperson told BI.

The company's product and technology division is set to be the worst hit, a report from GeekWire said, citing an internal memo CEO Peter Kern sent to employees in late February.

"While this review will result in the elimination of some roles, it also allows the company to invest in core strategic areas for growth," the spokesperson said.

"Consultation with local employee representatives, where applicable, will occur before making any final decisions," they added.

Sony is laying off 900 workers

The cuts at Sony Interactive Entertainment swept through its game-making teams at PlayStation Studios.

Insomniac Games, which developed the hit Spider-Man video game series, as well as Naughty Dog, the developers behind Sony's flagship 'The Last of Us' video games' were hit by the cuts, the company announced on February 27.

All of PlayStation's London studio will be shuttered, according to the proposal.

"Delivering and sustaining social, online experiences – allowing PlayStation gamers to explore our worlds in different ways – as well as launching games on additional devices such as PC and Mobile, requires a different approach and different resources," PlayStation Studios boss Hermen Hulst wrote.

Hulst added that some games in development will be shut down, though he didn't say which ones.

In early February, Sony said it missed its target for selling PlayStation 5 consoles. The earnings report sent shares tumbling and the company's stock lost about $10 billion in value.

Bumble is slashing 30% of its workforce

On February 27, the dating app company announced that it would be reducing its staff due to "future strategic priorities" for its business, per a statement.

The cuts will impact about 30% of its about 1,200 person workforce or about 350 roles, a representative for Bumble told BI by email.

"We are taking significant and decisive actions that ensure our customers remain at the center of everything we do as we relaunch Bumble App, transform our organization and accelerate our product roadmap," Bumble Inc CEO Lidiane Jones said in a statement.

Electronic Arts is reducing its workforce by 5%

Electronic Arts is laying off about 670 workers, equating to 5% of its workforce, Bloomberg reported in late February.

The gaming firm axed two mobile games earlier in February, which it described as a difficult decision in a statement issued to GamesIndustry.biz.

CEO Andrew Wilson reportedly told employees in a memo that it would be "moving away from development of future licensed IP that we do not believe will be successful in our changing industry."

Wilson also said in the memo that the cuts came as a result of shifting customer needs and a refocusing of the company, Bloomberg reported.

IBM cutting staff in marketing and communications

IBM's chief communications officer Jonathan Adashek told employees on March 12 that it would be cutting staff, CNBC reported, citing a source familiar with the matter.

An IBM spokesperson told Business Insider in a statement that the cuts follow a broader workforce action the company announced during its earnings call in January.

"In 4Q earnings earlier this year, IBM disclosed a workforce rebalancing charge that would represent a very low single-digit percentage of IBM's global workforce, and we expect to exit 2024 at roughly the same level of employment as we entered with," they said.

IBM has also been clear about the impact of AI on its workforce. Last May, IBM's CEO Arvind Krishna said the company expected to pause hiring on roles that could be replaced by AI, especially in areas like human resources and other non-consumer-facing departments.

"I could easily see 30% of that getting replaced by AI and automation over a five-year period," Krishna told Bloomberg at the time.

Stellantis is slashing 400 white-collar jobs

On March 22, the owner of Jeep and Dodge announced it's laying off employees on its engineering, technology, and software teams in an effort to cut costs, CNBC reported.

Workers learned they were being let go through video calls after the car company ordered them to work remotely for the day. The cuts are set to occur on March 31.

Amazon is laying off hundreds in its cloud division in yet another round of cuts this year

Amazon is cutting hundreds of jobs from its cloud division known as Amazon Web Services, Bloomberg reported on April 3.

The reduction will impact employees on the sales and marketing team and those working on tech for its retail stores, Bloomberg reported.

"We've identified a few targeted areas of the organization we need to streamline in order to continue focusing our efforts on the key strategic areas that we believe will deliver maximum impact," an Amazon spokesperson told Bloomberg.

On March 26, Amazon announced another round of job cuts after the company said it was slashing 'several hundred' jobs at its Prime Video and MGM Studios divisions earlier this year to refocus on more profitable products.

"We've identified opportunities to reduce or discontinue investments in certain areas while increasing our investment and focus on content and product initiatives that deliver the most impact," Mike Hopkins, SVP of Prime Video and Amazon MGM Studios, told employees in January.

This year's cuts follow the largest staff layoff in the company's history. In 2023, the tech giant laid off 18,000 workers.

Apple has cut over 600 employees in California

Apple has slashed its California workforce by more than 600 employees.

The cuts follow Apple's decision to withdraw from its car and smartwatch display projects.

The tech giant filed a series of notices to comply with the Worker Adjustment and Retraining Notification program. One of the addresses was linked to a new display development office, while the others were for the company's EV effort, Bloomberg reported.

Apple officially shut down its decadelong EV project in February. At the time, Bloomberg reported that some employees would move to generative AI, but others would be laid off.

Bloomberg noted that the layoffs were likely an undercount of the full scope of staff cuts, as Apple had staff working on these projects in other locations.

Representatives for Apple did not respond to a request for comment from Business Insider sent outside normal business hours.

Tesla is laying off over 10% of its workforce

Tesla CEO Elon Musk sent a memo to employees Sunday, April 14, at nearly midnight in California, informing them of the company's plan to cut over 10% of its global workforce.

In his companywide memo, Musk cited "duplication of roles and job functions in certain areas" as the reason behind the reductions.

An email sent to terminated employees obtained by BI read: "Effective now, you will not need to perform any further work and therefore will no longer have access to Tesla systems and physical locations."

On April 29, Musk reportedly sent an email stating the need for more layoffs at Tesla. He also announced the departure of two executives and said that their reports would also be let go. Six known Tesla executives have left the company since layoffs began in April.

Grand Theft Auto 6 publisher Take-Two Interactive is reducing its workforce by 5%

Take-Two Interactive, the parent company of Rockstar Games, said on April 16 that it would be "eliminating several projects" and reducing its workforce by about 5%.

The move — a part of its larger "cost reduction program" — will cost the video game publisher up to $200 million. It's expected to be completed by December 31.

As of March 2023, the company said it employed approximately 11,580 full-time workers.

Peloton is reducing its staff by 15% as the CEO steps down as well

Peloton CEO Barry McCarthy is stepping down, the company announced May 2. Along with his departure, the fitness company is also laying off about 400 workers.

McCarthy is leaving his role just two years after replacing John Foley as CEO and president in 2022. Peloton said the changes are expected to reduce annual expenses by over $200 million by the end of fiscal 2025 as part of a larger restructuring plan.

Microsoft-owned Xbox is cutting more jobs

Xbox is offering some employees voluntary severance packages in May after shutting three units and absorbing a fourth earlier in the month. Microsoft had already made cuts to the division at the start of 2024.

According to Bloomberg, the offers were extended to producers, quality assurance testers, and more staff at Xbox-owned ZeniMax. Others across the Xbox organization were told that more cuts are coming.

Xbox president Matt Booty told staff in a May 8 town hall that the studio closures are part of an effort to free up more resources, Bloomberg reported.

Indeed is cutting 1,000 workers after laying off 2,200 a year ago

Careers site Indeed says it will lay off roughly 1,000 employees, or 8% of its workforce, as it looks to simplify its organization.

CEO Chris Hyams took responsibility for "how we got here" in a memo in May but said the company is not yet set up for growth after last year's global hiring slowdown caused multiple quarters of declining sales.

Hyams said the latest cuts will be more concentrated in the US and primarily affect R&D and Go-to-Market teams. That's in contrast to last year's across-the-board reduction of 2,200 workers.

Walmart is axing hundreds of corporate jobs

Retail giant Walmart is cutting hundreds of corporate jobs and asking remote employees to come to work, The Wall Street Journal reported, citing people familiar with the matter.

Workers in smaller offices, such as those in Dallas, Atlanta, and Toronto, are also being asked to move to central locations like Walmart's corporate headquarters in Arkansas or those in New Jersey or California, the Journal reported.

Under Armour is slashing an unspecified number of jobs, incurring $22 million in severance costs

Under Armour confirmed it was conducting layoffs in its quarterly earnings report, which was released May 16.

The company said it will pay out employee severance and benefits expenses of roughly $15 million in cash-related and $7 million in non-cash charges this year related to a restructuring plan, with close to half of that occurring in the current fiscal quarter.

"This is not where I envisaged Under Armour playing at this point in our journey," CEO Kevin Plank told investors on the company's full-year earnings call. "That said, we'll use this turbulence to reconstitute our brand and business, giving athletes, retail customers and shareholders bigger and better reasons to care about and believe in Under Armour's potential."

Pixar cuts about 175 people in pivot back to feature films

Disney's Pixar Animation Studios is cutting 175 people, about 14% of its staff, Reuters reported.

The cuts started on May 21 as the studio returns to its focus on feature-length movies. Former Disney CEO Bob Chapek, who was axed in 2022, had increased staff across studios to create more content for the company's streaming service, Disney+.

Pixar cut 75 jobs last year, Reuters previously reported, part of a larger restructuring across Disney.

Lucid Motors is slashing around 400 jobs.

In a regulatory filing, Lucid Motors said it would lay off about 400 employees as part of a restructuring plan that should be complete by the end of the third quarter.

"I'm confident Lucid will deliver the world's best SUV and dramatically expand our total addressable market, but we aren't generating revenue from the program yet," CEO Peter Rawlinson said in an email to employees obtained by TechCrunch.

The cuts come ahead of Lucid's launch of its first electric SUV later this year. It comes over a year after the California-based company laid off 1,300 employees, TechCrunch previously reported.

Walgreens is planning store closures that could lead to job cuts

Drugstore chain Walgreens is planning to close unprofitable stores over the next three years, according to the Wall Street Journal.

CEO Tim Wentworth told the Journal that Walgreens hoped to limit job cuts by reassigning staff at closing stores to other locations. Walgreens is reviewing about one-quarter of its 8,600 US stores as it decides which to shutter, he said.

John Deere

John Deere, maker of the iconic green-and-yellow tractors, is laying off over 600 employees at factories in Illinois and Iowa, the AP reported July 1.

In May, John Deere said sales fell for the third consecutive quarter and projected that the declines would continue in the second half of its fiscal year.

Burberry

London-based luxury retailer Burberry is expected to cut hundreds of jobs in the coming weeks, the Telegraph reported July 6.

Employees learned about the cuts in late June when they were told in a Zoom meeting that their roles could be eliminated or that they would need to apply for other jobs, according to the Telegraph.

• Preparations are underway for the 2024 Olympic Games in Paris.
• France built two new venues: an aquatics center and an arena for badminton and rhythmic gymnastics.
• This story is part of "Road to Paris," a series chronicling athletes' and spectators' experiences at the Olympic Games.

Preparations are underway at sporting venues across Paris ahead of the 2024 Olympic Games, which will be held from July 26 through August 11.

France is expected to spend as much as 10 billion euros, or about $10.6 billion, to host the Paris Olympics, AFP reported.

Athletes will compete at temporary arenas constructed at French landmarks such as the Eiffel Tower and the Palace of Versailles. France has also built a $201 million aquatics center and a $150 million stadium for the Games.

Take a look inside 11 notable Olympic venues.

Beach-volleyball players will compete at the Eiffel Tower Stadium built at the base of the famous landmark.

The stadium will also host blind football in the Paralympics, which take place after the Olympics.

With stunning views of the Eiffel Tower, the stadium can hold 12,860 people.

The stadium will be disassembled after the Olympics, according to the Olympics website.

Paris La Défense Arena in Nanterre will host swimming and some water-polo events.

The arena features 30,000 seats for sporting events and 40,000 for concerts, according to its website. Concessions include burgers made with Charolais beef and pizza topped with burrata and truffle cream.

It's the largest indoor arena in Europe.

It spans 94,000 square meters, or just over 1 million square feet. It also has an interactive screen measuring 2,600 square meters, according to the arena's website.

The Olympic Aquatics Centre in Saint-Denis was built specially for the 2024 Games.

The stadium can hold 6,000 people and cost 188 million euros to build, SwimSwam reported. French President Emmanuel Macron inaugurated the stadium in April.

The new venue will host diving, synchronized swimming, and some water-polo events.

The Olympic Aquatics Centre is powered by a 5,000-square-meter solar farm on its roof, and its seats are made of recycled plastic.

The Adidas Arena in Paris was also built for the 2024 Olympics.

It was completed this year and cost $150 million to construct, The Associated Press reported.

Like the Aquatics Centre, its seats are made out of 100 tons of recycled plastic.

The venue, which can seat up to 9,000 people, will host badminton, rhythmic gymnastics, and weightlifting events.

Basketball and handball games will be held at the Decathlon Arena, also known as the Pierre-Mauroy Stadium, in Villeneuve-d'Ascq.

The stadium's exterior cover is made of 12,000 polycarbonate tubes and can be lit up in different colors with 70,000 LED lights, according to its website.

Thanks to a retractable roof, matches can be held in any weather.

The stadium has 50,000 seats, including 76 private boxes.

The French National Velodrome in Saint-Quentin-en-Yvelines will host track cycling.

The stadium holds 6,000 people, according to the tourist office of Paris. It was originally designed for the 2012 Olympics when Paris was in the running to host the Games.

The state-of-the-art facility features a hypoxic tent where athletes can train to compete in high altitudes.

The stadium is also the headquarters of the French Cycling Federation.

The Stade de France is the largest stadium in the country, with a capacity of about 80,000.

In Saint-Denis, the space will host rugby sevens matches and track-and-field events.

For the first time in Olympic history, athletes will run on a purple track.

Since 1976, the sports-flooring company Mondo has produced tracks for every Olympics. In an interview with the AP, the vice president of Mondo's sports division, Maurizio Stroppiana, described the new color as "a light mauve and darker violet" that "recalls the landscape of France."

Equestrians and modern pentathletes will compete on the grounds of the Palace of Versailles, the former home of French royals.

The modern pentathlon tests competitors' skills in four events: horseback riding, fencing, swimming, and running and shooting, according to the Olympics website.

The main seating area built for the Olympics can hold more than 16,000 people, the AP reported.

The palace reinstalled statues depicting Apollo's chariot, which date back to the 17th century, just in time for the Olympics.

Consisting of 13 gilded statues sculpted by Jean-Baptiste Tuby, the statues were removed from the grounds of Versailles for restoration in 2022, according to the palace's website.

The Roland Garros Stadium in Paris, home of the French Open, will host tennis, boxing, and sitting volleyball in the Olympics.

The entire complex, featuring 18 tennis courts, spans 12 hectares.

The Roland Garros Stadium is known for its clay courts.

The Court Philippe Chatrier, also known as center court, was renovated with a retractable roof in 2020.

Artistic gymnastics, basketball, and trampoline events will take place at the Accor Arena, formerly known as the Bercy Arena.

The arena's recognizable features include a blue metal lattice and sloped facades covered in real grass.

The Accor Arena can seat up to 20,300 people.

Its gray seats were optimized for improved acoustics, according to the Accor Arena's website.

The Yves-du-Manoir Stadium in Colombes was built 100 years ago when Paris hosted the 1924 Olympics.

The Yves-du-Manoir Stadium hosted the 1924 opening ceremony as well as sporting events.

At the 2024 Olympics, it will host 15,000 spectators for field-hockey tournaments.

The Yves-du-Manoir Stadium was brought up to date for the 2024 Olympics with renovations totaling 100 million euros, according to the Olympics website. The field's new, low-carbon turf is made of 80% organic material.

It will become one of only four stadiums around the world to host events in two different Olympic Games, according to the Olympics website.

• President Joe Biden repeatedly declared he is not dropping out during a feisty and unexpected interview.
• Biden called into MSNBC's "Morning Joe" on Monday morning.
• The president's appearance came as he sought to assure Democrats that he's still their best hope. 

President Joe Biden on Monday offered a feisty challenge to Democratic politicians and donors who want him to drop out of the 2024 race.

"I'm getting so frustrated by the elites, now I'm not talking about you guys," Biden said during a call into MSNBC's "Morning Joe." "But by elites in the party, who they know so much more, if any of these guys don't think I should run, run against me. Announce for president. Challenge me at the convention."

The Democratic National Convention is set for next month in Chicago. There is a chance that Democrats formally nominate Biden before then. Democrats could still replace Biden, but doing so without his blessing would be an unprecedented action in modern politics.

Biden has repeatedly declared since his disastrous debate performance that he is not going anywhere. A handful of House Democrats have called for the president to step aside. Some of the party's biggest donors have also questioned whether Biden is still the Democratic Party's best chance to defeat former President Donald Trump.

"The bottom line here is, we're not going anywhere," Biden said. "I'm not going anywhere. I wouldn't be running if I didn't absolutely believe that I am the best candidate to beat Donald Trump in 2024."

Lawmakers will return to Washington later Monday for what is expected to be a critical week for elected officials to consider whether to publicly express their concerns about Biden.

So far, Biden has kept Senate Majority Leader Chuck Schumer, House Minority Leader Hakeem Jefferies, former Speaker Nancy Pelosi, and former President Barack Obama in his corner. Potential Biden replacements, including Vice President Kamala Harris, California Gov. Gavin Newsom, Michigan Gov. Gretchen Whitmer, and others have also reupped their support of the president.

Biden sent a strongly worded letter to Hill Democrats ahead of his appearance on Morning Joe, underlining his reasons for staying in the race.

"The question of how to move forward has been well-aired for over a week now," Biden wrote. "And it's time for it to end."

• The Hamptons are facing an influx of exclusive social clubs and locals aren't happy.
• Traditionally a quiet refuge for the wealthy, club nightlife is now encroaching on the area.
• Hamptons' residents don't want their community to become a party hot spot.

Just two hours east of Manhattan, the Hamptons is an ultra-wealthy beach hideaway where millionaires and celebrities from Martha Stewart to Beyoncé escape from the big-city bustle.

At least it used to be.

Nowadays, exclusive social clubs with long lines, dress codes, and pounding music are popping up in the Long Island hub for the rich, and residents aren't happy.

Take the Blu Mar restaurant, for example. The Southampton restaurant was recently transformed into an Italian restaurant and nightclub by Kyky Conille, who's operated several hot spots in New York City.

Conille told The Hollywood Reporter that the restaurant's club will be inclusive, catering to "customers from 25 to anyone who can still walk."

However, another club in the back will be more selective.

"We will pick the clientele for the lounge,'' Conille told the outlet. "My doormen will choose by the way they dress. We don't want people coming in the lounge in the evening wearing shorts. I want to bring back elegance — for people to get excited to get dressed.''

And Conille isn't the only one trying to shake up the scene.

Scott Sartiano, the owner of the elite Manhattan social club Zero Bond, where high-profile celebrities from Taylor Swift and Elon Musk to Tom Brady and Kim Kardashian go to party, planned to convert East Hampton's historic Hedges Inn into a new club location earlier this year, according to the same article.

Business Insider previously reported that the club's fees for new members would range between $2,700 and $9,000 a year, depending on age.

But Sartiano's plans had to shift in May after residents filled town meetings and convinced local leaders to set up an 11 p.m. curfew for this season.

Since that spoiled the nightclub idea, Sartiano says he'll use the property as a new outpost for his New York restaurant, Sartiano's, for the time being.

Still, some locals aren't buying it.

"Mr. Sartiano has greatly watered down his proposal so that it will simply be an Italian restaurant, and if that's the case, we will roll out the red carpet," Marcos Baladrón, the East Hampton Village administrator, told The Hollywood Reporter. "But if his ultimate goal is to open another Zero Bond, I think the neighbors should be very wary."

The New York Times reported Thursday that town officials had seen no confirmation that Sartiano had officially leased the property.

While the future of the Hamptons is uncertain, one thing is clear: The wealthy enclave is experiencing a cultural identity crisis, and locals will have to fight to prevent it from becoming a getaway for partyers.

"One of the lost things in this world is quietude," Carrie Doyle, the village trustee, told The New York Times. "People come out for peace and quiet, and the ironic thing is that to get it, you have to make a lot of noise. So that's what we've done."

• Sunshine guilt is when you feel anxious about staying inside when it's sunny and nice outside. 
• People might have FOMO from seeing others on social media enjoying time outside. 
• A neuropsychologist suggests people liven up their indoor space with plants and stay active. 

Even if you don't live somewhere known for breaking rainfall records, you've probably seen the effects of "sunshine guilt," as it's called on TikTok. For instance, you might notice your co-workers flocking outside to eat lunch or friends posting about weekend plans involving hiking trails or a day at the beach.

Sunshine guilt is when you feel anxious or guilty about staying inside and not enjoying a sunny day to the fullest. Maybe you'd prefer to lie in bed and read or watch TV instead of venturing outside or getting sand in body crevices you can't reach.

What is sunshine guilt and why do we experience it?

Sunshine guilt refers to the "pressure you feel to be outside and enjoying the weather when it's a sunny day," Patrice Le Goy, Ph.D., LMFT, an international psychologist and licensed marriage and family therapist, told Business Insider. You might feel ungrateful for wanting to be inside resting or doing nothing.

This feeling tends to be more common if sunny days are rare or you're transitioning from winter to spring. Since you don't know when you'll have another opportunity to enjoy the weather, sunshine guilt is considered a form of FOMO (fear of missing out), she added.

Sometimes you don't have a choice about when you schedule activities. Perhaps you're busy working, studying, or doing household chores and feel like you're "missing out on the benefits and pleasures of being in the sunshine," Sanam Hafeez, PsyD, neuropsychologist, told Business Insider.

Many people are aware that being outside can contribute to enhanced mood and vitamin D production, so they might feel guilty for having to stay inside. In addition, some "cultures emphasize spending time outdoors in nice weather, encouraging a belief that staying inside is a waste of a good day," she said.

Another reason for sunshine guilt is seeing people enjoying outdoor activities. A combination of social media and peer pressure can amplify feelings of guilt, particularly if you think of yourself as a sun worshipper or someone who loves outdoor activities.

How is sunshine guilt different from summertime seasonal affective disorder?

About 5% of the US population experiences seasonal affective disorder (SAD), according to Mental Health America. Someone with SAD may "experience depression, fatigue, appetite changes, and other disruptions corresponding to darker and colder months," Le Goy said.

Of those affected by SAD, about 10% experience depressive symptoms during the spring and summer, otherwise known as summer-pattern SAD or summer depression. Symptoms of summer depression tend to improve as the weather becomes sunnier and warmer or with a treatment such as light therapy, Le Goy explained.

Unlike summer-pattern SAD, sunshine guilt is "not a medical condition and does not typically cause severe mood disturbances or functional impairments," Hafeez said. In addition, sunshine guilt is often temporary and can be resolved by spending time outside or directing your focus away from the weather.

On the other hand, summer-pattern SAD is a recognized medical condition characterized by symptoms like irritability, trouble sleeping, and loss of interest in activities, which significantly impact daily functioning and quality of life, she explained. This condition can last weeks or months and typically requires medical or therapeutic intervention.

Sunshine guilt tends to be situational. For example, you might feel guilty for missing an outdoor concert or wedding. In contrast, summer-pattern SAD may be prompted by changes in sunlight exposure, which affect your circadian rhythms, melatonin production, and serotonin levels, Hafeez said.

What can you do to manage sunshine guilt?

If you're experiencing sunshine guilt, you can develop strategies to find a healthy balance between indoor and outdoor activities. For instance, you can schedule outdoor activities on your days off and weekends or prioritize completing indoor tasks, so you have more time for outdoor enjoyment, Hafeez said.

Another tip is incorporating small amounts of outdoor time throughout your day, like going for a walk at lunch or stepping outside to look at the scenery. If going outside isn't possible or desirable, Hafeez suggested the following practices to help reduce feelings of guilt:

• Liven up your indoor space with plants and natural light
• Practice mindfulness by focusing on the present moment
• Make time for enjoyable indoor hobbies like reading or cooking
• Stay active with indoor exercise like dance or yoga
• Spend time with family or friends indoors or plan virtual meetups
• Be kind to yourself for needing rest
• Consider talking to a mental health professional if you're feeling depressed or overwhelmed

Although sunshine guilt isn't a clinically recognized condition, it's helpful to acknowledge that it is "a real thing people experience, and you don't have to do anything about it if you don't want to," Le Goy said.

If you're tired, listen to what your body needs, whether it's rest or a nourishing meal. Remind yourself that sunny weather is enjoyable when you want to be outside. You might even welcome a rainy day because then you won't feel pressured to go outside and make the most of your day, she added.

Nandini Maharaj is a freelance writer covering health, wellness, identity, and relationships. She holds a master's degree in counseling and a doctorate in public health.

• I'm a luxury travel planner, and these are destinations I think will be popular this year.
• For a beach getaway in Europe, I recommend Sardinia, Corsica, and Costa Navarino
• I suggest Niseko, Japan, for outdoor enthusiasts or Ticino, Switzerland, as a Lake Como alternative.

With Americans spending more on travel and experiences, now could be just the time to book a trip.

I'm a luxury travel advisor, and I book five-star hotels and luxury vacations around the world for wealthy and high-profile clients.

My clients always ask me about under-the-radar luxury destinations that feel exclusive and are not overly crowded by tourists.

Here are a few places I'm recommending to my clients in 2024.

Ticino, Switzerland

This charming Italian-speaking region is also known as Switzerland's "Little Italy."

I recommend visiting Swissminiatur in Melide, an open-air miniature museum that's great for families with kids. I also suggest visiting the well-manicured Parco Ciani, a beautiful park with statues and fountains that overlook Lago di Lugano.

The region's small lakeside town Ascona is not to be missed. Take a boat cruise there and have lunch with a view of the cafe-lined promenade situated on Lago Maggiore.

You can also take a short boat ride to the Brissago Islands, which consist of two islands. Only Isola Grande is open to the public. There, you can walk around the botanical garden and have a meal at the dreamy, neoclassical Villa Emden.

Sardinia, Italy

Sardinia is also known for its nightlife and white-sand beaches. This island in the Mediterranean is also a hot spot for celebrities.

The northern side of the island is dotted with upscale beach clubs and luxury resorts such as Romazzino, Costa Smeralda, and Hotel Cala di Volpe.

Botswana, Africa

Most visitors go to Kenya for an African safari but Botswana is better suited for a high-end safari experience with luxury accommodations since there are a limited number of camps.

You can spot the Big 5 in the Okavango Delta, which offers a good mix of land and water safaris. Or visit Chobe National Park, which has a very high population of elephants.

Niseko, Japan

Niseko offers some of the best powder for skiing in the winter. In the summer, the area is known for its outdoor activities.

It has natural hot springs, river activities, golf courses, hiking, and mountain biking. If you're up for an adventure in the spring or summer, I recommend climbing to the top of Mt. Yotei, a volcano and one of the famous mountains for skiing. The hike is not for the faint of heart!

Many people visit Tokyo to see the cherry blossoms, but you can also see them in Niseko. They're often in full bloom at the beginning of May.

Corsica, France

Corsica has the perfect mix of rugged landscapes, hiking trails, rich history, and lively beaches. Its Plage de Palombaggia has stunning clear blue waters and a long stretch of white sand.

Corsica also has several vineyards — including a few along the coast — so you can take scenic tours and go wine tasting on the island.

Costa Navarino, Greece

Skip overcrowded Greek islands like Santorini and Mykonos. Instead, vacation in Costa Navarino, a coastal town in the Peloponnese known for its world-class golf courses and epic outdoor adventures.

If you want to shop for artisanal goods made by local designers, stop by Navarino Agora, a new outdoor marketplace with an open-air cinema.

Jose Ignacio, Uruguay

Jose Ignacio is a chic beach town that comes alive after Christmas (during the region's summer season) when locals from Uruguay and nearby Argentina flock here for vacation.

The former fishing village is anchored by the faro, or lighthouse, near Playa del Faro Jose Ignacio — my favorite beach for people-watching and kite surfing. Spend a day soaking up the sun and check out the trendy seaside bars and restaurants.

Vals, Switzerland

Vals is a small, quiet alpine village in Graubünden with only about 1,000 inhabitants.

It's a hiker's paradise with wide open landscapes and rolling green hills. Try the moderate hike around Lake Zervreila at the base of the gondola in the center of Vals — you'll be rewarded with spectacular lake and village views.

A crown jewel of Vals is 7132 Hotel, an architectural marvel designed by prominent Swiss architect Peter Zumthor. The hotel is famous for its thermal spa made of local quartzite.

West Kowloon Cultural District, Hong Kong

This waterfront district in Hong Kong is an art hub with multiple major arts and performance venues. M+ and Hong Kong Palace Museum are two of the newer museums that opened in 2021 and 2022, respectively.

The Xiqu Centre in The West Kowloon Cultural District is an especially cool performing arts venue where you can watch a Cantonese opera.

Hawke's Bay, New Zealand

This warm and sunny region is perfect for foodies and wine lovers, with over 100 wineries and many restaurants that serve farm-to-table food.

It's one of New Zealand's oldest wine regions and a great alternative to European ones. The vast majority of New Zealand's cabernet sauvignon and merlot are produced in Hawke's Bay.

Plus, the area's flat trails make it ideal for wine and food tours by bicycle.

Kids will love the National Aquarium of New Zealand and Napier's Marine Parade, an outdoor playground with a skate park, gardens, and mini-golf.

• Can America hold onto the power it accrued in the 20th century?
• Marc Andreessen and Ben Horowitz would like to think startups can play a key role in that process.
• However, they worry startups face forces that could ruin them — and America's global leadership.

Marc Andreessen and Ben Horowitz have been fretting about 21st-century America.

Less than 24 hours after commemorating American independence on July 4, the investor duo in charge of venture capital firm A16z published a very Silicon Valley spiel on how the US can retain the power it accrued in the 20th century.

They call it the "Little Tech Agenda."

Simply, the agenda is about "Little Tech" startups, as opposed to Big Tech companies such as Apple, Google, and Meta. The opportunities that Little Tech presents — and the threats it faces — must be fully understood if America wants to stay on top, the investors argue.

It's very worth noting that both Andreessen and Horowitz are hugely incentivized as VCs to draw attention to startups. In April, their firm said it raised $7.2 billion to spearhead investments into startups leading several areas, including "American Dynamism" — a catch-all term for founders leading companies that "support the national interest." Think aerospace, defense, education, housing, manufacturing.

That said, the Silicon Valley veterans are ready to make their case for why concern for the future of startups extends to concern for the future of America itself.

The Little Tech Agenda, explained

Andreessen and Horowitz have a simple explanation for their new agenda: They want America to recreate the successes that gave it unassailable leadership in the 20th century.

But they're not sure current circumstances will allow for that to happen.

In the blog published on Friday, they wrote how America enjoyed unipolar power over the global order in the 1900s thanks to the second Industrial Revolution, the spread of computers, a championing of a free market system, and sheer military might.

That said, they are aware of a growing chorus of voices that think such successes will be hard to come by again. "Naysayers say America's best days are behind us, that the 21st century will see America play a diminished role," they wrote. "We disagree."

As VCs, their disagreement is rooted in a belief that startups have a vital role to play in ensuring America's continued role as the world's chief nation-state. The spirit that produced Ford, Lockheed Martin, and SpaceX is the spirit needed for future prosperity, their argument goes.

However, they think startup spirit is being wrecked by the very people who need it to ensure continued power.

Andreessen and Horowitz argue that "there is no reason the 21st century cannot be a Second American Century" if the political machinery in Washington DC stops getting in the way of startups reaching their full potential.

As they put it, the US government is "now far more hostile to new startups than it used to be," with regulatory agencies being "greenlit to use brute force investigations, prosecutions, intimidation, and threats" to hobble growing industries such as artificial intelligence.

They also claimed that regulators are getting in the way of market activities such as takeovers, and proposing new tax regimes targeting "unrealized capital gains" that would "absolutely kill both startups and the venture capital industry that funds them."

Now, it's worth asking the extent to which vocalizing such concerns is really about America keeping the hot seat on the global stage until 2100 rather than helping VCs further line their pockets.

'Regulatory capture'

The technology sector's tilt toward generative AI since the launch of ChatGPT, for instance, has thus far massively favored Big Tech over VCs and startups. Silicon Valley heavyweights leading the Nasdaq have earned a far larger share of the financial reward from AI than their startup counterparts.

That's partly because Big Tech firms have had an easier time securing the vast amounts of capital and computing power needed to power the intensive large language models driving up AI costs.

Andreessen and Horowitz also argue that Big Tech's advantage has been helped by "regulatory capture" that has served to "protect and entrench their positions."

The end result, they say, is "stagnation and then decline." They'll now hope others share the view that America's future depends massively on bootstrapped founders with a dream.

• Europe's artillery shell production won't meet promises made to Ukraine, an investigation found.
• The European Commission claimed production of 1 million shells annually as of January this year.
• An investigation found that actual production is around 550,000 shells, a major shortfall.

European claims about its capacity to produce artillery shells are wildly overblown, meaning it won't be able to supply Ukraine anywhere near the quantity it has promised, according to a new investigation.

The European Commission claimed that, as of January this year, Europe's annual production capacity for 155 mm shells had reached one million shells a year.

This was followed by claims in June by the EU's Commissioner for Internal Market, Thierry Breton, that the bloc planned to be producing 1.7 million shells annually by the end of 2024.

But a consortium of newsrooms, including Radio Free Europe and Die Welt, which spoke to manufacturers, experts and government officials, said in an investigation published Monday that these claims are far from the reality.

An internal document from Rheinmetall, Germany's flagship arms manufacturer and one of Europe's largest, instead put the EU's annual 155mm shell production at the start of the year at more like 550,000, the group reported.

This tallies with a report published at the end of 2023 by the Estonian defense ministry, which estimated that collective production for that year stood at between 480,000 and 700,000 shells — a far cry from the European Commission's claims a month later.

The investigation published Monday reported that unnamed experts and industry insiders broadly agreed with their assessment.

One source familiar with the industry said Europe would produce less than half a million shells by the end of the year, and said it was poor policy to pretend otherwise.

The report identified numerous factors affecting the shortfalls, including a global gunpowder shortage and the lack of long-term contracts from governments to encourage the scaling-up of production.

European Commission spokesperson Johanna Bernsel told Business Insider that it stands by its estimate "under realistic operational conditions, in response to orders received."

She added that the estimates were based on EU member state and industry data, and that they take into account ongoing investment and efforts to reduce bottlenecks.

She also said that not all production is openly disclosed to media for security reasons.

155mm shells have been a crucial staple for both sides of the conflict in Ukraine. As of January, Ukrainian forces were firing in the range of 200,000 a month, according to internal estimates seen by Bloomberg.

In addition to supplying Ukraine, European states need to conserve some supplies for their own defensive stockpiles, and for other conflicts worldwide.

Ukraine has already experienced critical shortages of the munition, notably during the six months that US Congress held up sending further aid to Ukraine, forcing it to drastically ration its supplies at a time when Russia was firing an estimated 10,000 shells a day.

As of May, Russia was able to produce artillery shells about three times faster than Ukraine's allies were able to, and for a quarter of the cost, Sky News reported.

• Biden sent a stern letter to congressional Democrats reiterating that he has no plans to drop out.
• He said questions about him have "been well-aired for over a week" and "it's time for it to end."
• The list of Democrats calling for Biden to drop out is likely to grow this week.

As lawmakers head back to Washington today after their one-week recess, President Joe Biden is issuing a stern warning: I'm not going anywhere, time to pipe down.

In a letter to Democrats in both chambers, Biden struck a defiant tone, even as he acknowledged "good faith fears and worries about what is at stake in this election."

"The question of how to move forward has been well-aired for over a week now," Biden wrote. "And it's time for it to end."

Five House Democrats have publicly called for Biden to drop out, and more are likely to do so this week.

According to several media reporters, several high-ranking House Democrats — including Rep. Jerry Nadler of New York, Mark Takano of California, Adam Smith of Washington, and Joe Morelle of New York — said that Biden should step aside during a private call with colleagues on Sunday.

This is a developing story. Please check back for updates.

This as-told-to essay is based on a conversation with Leonid Shteyn. It has been edited for length and clarity.

Last year, I started looking for ways to make more money from my retirement savings. I'm 70, and my wife, who is also retired, is 68. We were worried about having enough money to live with rising inflation. We also wanted to have something to leave our four grandchildren, two of whom have special needs.

I researched investment options online and eventually reached out to a friend. He connected me to a company he was investing in. I checked the company out online, and everything seemed above board. I spoke with a professional financial planner tied to the company.

Still, I was cautious. I opened an account with just $250. Then, I transferred $10,000. When that investment began to grow, I wanted to go all in. I withdrew $100 from the account to make sure it was legit. After that withdrawal was processed, I transferred all my money: $256,470.

Things quickly became strange

After that, things started to get strange. The so-called investment company asked me to take out a line of credit. They encouraged me to invest in bitcoin and started charging me steep commissions.

One day, I got an email, reportedly from a blockchain, the digital wallet where people keep bitcoin and other cryptocurrencies. When I looked closely, I noticed that one digit in the email was off—it was a scam meant to look like an official blockchain communication.

That's when I knew something was very wrong.

I trusted the big bank that the scammers used

Still, the so-called investment company called me, asking for more money. I got my own lawyer, who looked up the company's legal representation. He couldn't find any licensed lawyer with the name I'd been given. Next, I hired a private investigator. He tracked one scammer to Bulgaria and another to the US.

My lawyer realized that I had sent most of my funds to an account at Bank of America. As an immigrant, I trusted Bank of America intrinsically. I never would have transferred money to a small bank or international establishment, but if you can't trust them, who can you trust?

Unfortunately, I feel Bank of America failed me terribly. Even after my lawyer alerted them to what was happening, they cleared a check I'd written to the scammers. They ignored requests from my bank to look at the fraud, and after three requests, my bank gave up.

Within three months, I went from having a healthy retirement savings to having $20,000 in the bank. With lawyer fees and the private investigator, I was out nearly $300,000.

Older people, like myself, need help to protect themselves

This whole debacle is no one's fault but my own. The thing is, I'm a smart guy. I ran a major business for 30 years. I am good at vetting people—or at least I thought.

What frustrates me is that the lack of government oversight allows scams like this to thrive. I contacted my local police department, and they said they'd investigate. I didn't hear from them, so I called back. They told me they have 600 cases like this and only three investigators. When I heard that, I knew the chances of my case being solved were slim to none.

People always ask me what advice I'd give other seniors, but I think that's the wrong question. Scammers will always exist, and people, especially older people, will always be vulnerable. We need to be able to trust the government and major institutions like Bank of America to stop this fraud. I believe they don't because they make money in interest and fees from these fraudulent accounts.

My retirement looks a lot different now

I've started from scratch a lot in my life. I immigrated from the Czech Republic to New York in 1989 and later moved from New York to Texas. But it's hard to start over at 70. I've been sending out my résumé and looking for work as a consultant, but I haven't had any leads.

I'm lucky to have a house and cars that are paid off and still have some money in the bank. I've abandoned my dream of helping my grandkids or traveling in retirement. I'm just hoping my wife and I have enough to live on.

Editor's note: In a statement to Business Insider, Bank of America said: "We don't want any bank's clients to become victims of scams. We try to work with victims and their banks to return the funds when feasible, but unfortunately, this is not always possible. We encourage clients to do thorough due diligence to ensure that they are transferring funds to legitimate businesses."