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The Fast Company Impact Council is an invitation-only membership community of leaders, experts, executives, and entrepreneurs who share their insights with our audience. Members pay annual dues for access to peer learning, thought leadership opportunities, events and more. Digital wallets have fast become part of daily life. By 2027, they’re expected to account for half of all retail sales—around $25 trillion worldwide. It’s easy to see why. Paying with a digital wallet is easy, secure, and requires nothing more than a phone. But there’s potential for wallets to do so much more, beyond payments. Digital wallets started as payment tools. Now, they’re becoming…

It’s not been a good start to 2025 when it comes to major retailers shuttering locations. Since the end of last year, numerous companies have announced their intention to close swaths of their brick-and-mortar stores, including Party City, Big Lots, Walgreens, 7-Eleven, and Macy’s. Just this week, another retailer—Joann fabrics—announced it would be closing hundreds of locations, as well. And now, department store icon JCPenney has also announced it’s closing some locations. Here’s what to know: JCPenney has had a roller-coaster few years The iconic department store chain has faced several struggles in recent years, most notably from the fall of foot traffic …

JCPenney said it will close seven stores this weekend in California, Colorado, Idaho, Kansas, New Hampshire, North Carolina, and West Viriginia, according to USA Today, and will be running sales in those locations up until Sunday, May 25. It’s the latest set of JCPenney store closures since the long-struggling retail chain filed for Chapter 11 bankruptcy back in May 2020 during the pandemic (it announced later that year it would close 200 of its 850 stores). The chain was then purchased by property managers Simon Property Group and Brookfield Asset Management. Fast Company has reached out to JCPenney for comment. Which JCPenney store locations are closing? …

A bold new building at Spelman College in Atlanta is all about breaking down barriers. Designed by the architecture firm Studio Gang, the Center for Innovation and the Arts is the new home for collaboration between students of science, technology, art, and performance at the historically Black women’s liberal arts college. It will provide a new space where Spelman’s programs in dance, documentary filmmaking, photography, theater and performance, and music can tap into emerging technologies from the worlds of science and computer science. Studio Gang founder, Jeanne Gang, says the primary goals of the project were to help the college better connect its programs and eve…

Jeff Bezos last month went public with his new AI firm, which is currently being called Project Prometheus. The effort had been in development for a while, but is still relatively secretive. There’s no website and only a sparse LinkedIn page describing itself as “AI for the physical economy.” The $6.2-billion startup may be facing lots of competition from other AI companies, including giants like Microsoft and OpenAI. At the same time, it may also have to contend with another mysterious and more modest effort that happens to have already filed a trademark application for an AI company with the exact same name. On November 17 — the same day the New York Times ran a…

Run a small business and you probably feel like you make dozens of decisions every day. Whether to cut a quality corner, or miss a ship date. Whether to respond to a customer complaint, or hope the problem goes away. Whether to address an employee’s behavior, or kick that can down the road. Then there are all the personal decisions. Whether to get up and going, or hit the snooze button. Whether to ditch the food you packed, or go out for lunch instead. Whether to keep grinding, or work out. None of those are actually decisions, though, since you already know you should do so. Nearly everything you “decide” already has an answer. Quality problem? Fix it. Custom…

Jeff Bezos will serve as co-chief executive officer of a new artificial intelligence startup that focuses on AI for engineering and manufacturing of computers, automobiles, and spacecraft, the New York Times reported on Monday. The company, called Project Prometheus, has garnered $6.2 billion in funding, partly from the Amazon founder, making it one of the most well-financed early-stage startups in the world, the report said, citing three people familiar with the company. This is the first time Bezos has taken a formal operational role in a company since he stepped down as the CEO of Amazon in July 2021. Though he is involved in Blue Origin, his official title at …

Earlier this month, the House Oversight Committee made public more than 20,000 pages of documents from the late convicted sex offender Jeffrey Epstein’s estate. The documents were released as thousands of individual text files, images, and scanned PDFs, a monumental trove most wouldn’t have the time or patience to sift through. But what if you could navigate the source documents as easily as you do your inbox? That was the thinking behind Jmail, a Gmail-style interface for accessible browsing of Epstein’s released emails launched Friday by Kino CEO Luke Igel and software engineer Riley Walz. Walz, a serial website builder previously dubbed San Francisco’s “T…

A new hotspot just opened in New York—and it’s in terminal 5 of John F. Kennedy International Airport. BlueHouse, a 9,000-square-foot space exclusively available to select JetBlue Airways customers, welcomed its first guests at 5 a.m. this morning as the airline’s first foray into the pitched battle for lucrative premium fliers. Designed by Gensler, BlueHouse is a smorgasbord of New York’s iconic and eclectic design heritage. From the Art Deco elevator indicator to black-and-white deli tile on the floor and the Grand Central Terminal-inspired ceiling mural, the space screams Big Apple while staying true to JetBlue’s quirky and, well, blue heritage. “It’s unqu…

It’s tough enough bringing the first major redesign of a commercial jetliner to fruition—especially when it looks more like something out of The X-Files than a travel brochure. So, to streamline that journey, JetZero—the first commercial blended-wing body (BWB) aircraft—is teaming with Delta as an eventual buyer to troubleshoot operation and design issues from the ground up. “Our biggest challenge is, `How do you bring an aircraft to market as quickly as possible so that you can have the most impact for your customer?’” says CEO Tom O’Leary, who cofounded JetZero with CTO Mark Page. “We don’t want to zig-zag our way to entry into service. We want to take the cleanest,…

Former President Jimmy Carter has won a posthumous Grammy award. Carter, the peanut farmer who won the presidency in the wake of the Watergate scandal and Vietnam War, died in December at age 100. Prior to his passing, Carter was nominated in the audio book, narration, and storytelling recording category at the 2025 Grammys for “Last Sundays in Plains: A Centennial Celebration,” recordings from his final Sunday School lessons delivered at Maranatha Baptist Church in Georgia. Musicians Darius Rucker, Lee Ann Rimes and Jon Batiste are featured on the record. It’s Carter’s fourth Grammy. His posthumous Grammy joins his three previous ones for spoken word album. If the for…

In another devastating blow to customers and employees of Joann Inc, the popular fabric and crafts retailer is moving to close a significant chunk of its brick-and-mortar locations as part of ongoing bankruptcy proceedings, according to a court filing on Wednesday. The company, which filed for Chapter 11 protection a second time last month, had initially said it would continue operating its approximately 800 stores as it restructured and sought a buyer. However, it told a court this week that it has now identified a number of underperforming locations during the bidding process that it wants to close as a way of cutting costs. “As the sale process progressed,…

Fabric and craft retailer Joann Inc. is officially shutting down all of its stores following a turbulent bankruptcy process. The company filed for Chapter 11 bankruptcy protection in January for the second time in less than a year, initially saying it would keep its stores open while restructuring its debt. However, just weeks after the filing, Joann reversed course and announced it would close 500 of its roughly 800 locations, as Fast Company reported. The closure of those stores was just the beginning. As part of the ongoing bankruptcy proceedings, Joann held an auction on February 21 to sell off its assets. A limited liability company called GA Joann Retail P…

Time is running short for customers of Joann. That’s because in just a few more days, the beloved fabrics and crafts retailers will have closed 255 locations across America. And by the end of next month, all its locations will be shuttered for good. Here’s what you need to know about April’s round of Joann stores closing, including the locations of the closing stores and the dates they are expected to close. Why is Joann’s closing? Like many once-ubiquitous large retail chains, Joann Inc. has faced years of financial struggles that have only gotten worse thanks to rising inflation, consumers cutting back on discretionary spending, and the increased prevalence o…

Fans of Joann have one last chance to grab fistfuls of fabric, yarn, and other critical sewing supplies before the ill-fated retailer closes for good—but time is running out. The beloved brand, which has been winding down operations after seeking Chapter 11 bankruptcy protection for a second time, will close its last remaining stores at the end of May, meaning this is the last full weekend that they will be open for business. A spokesperson for GA Group, the asset firm that took control of Joann in February, shared the list of locations with Fast Company. It includes 444 stores in 45 states. At the time of its bankruptcy filing, Joann had roughly 800 locations, bu…

The death of Joann fabrics is turning out to be a big gain for at least one other retailer. Following the beloved craft chain’s bankruptcy and subsequent plan to wind down its operations, discount retailer Burlington Stores—formerly known as Burlington Coat Factory—is moving to scoop up dozens of leases from former Joann locations across more than 20 states, court documents reveal. The 45 locations, some of which have been home to Joann’s stores for decades, were listed as being taken over by various Burlington subsidiaries on a bankruptcy court filing last week, with the company expected to assume control of most of the leases on June 1. In January, Joann fi…

Fans of Joann have one last chance to grab fistfuls of fabric, yarn, and other critical sewing supplies before the ill-fated retailer closes for good—but time is running out. The beloved brand, which has been winding down operations after seeking Chapter 11 bankruptcy protection for a second time, will close its last remaining stores at the end of May, meaning this is the last full weekend that they will be open for business. A spokesperson for GA Group, the asset firm that took control of Joann in February, shared the list of locations with Fast Company. It includes 444 stores in 45 states. At the time of its bankruptcy filing, Joann had roughly 800 locations, bu…

Glassdoor Economic Research has released its Worklife Trends report for 2026. A key theme highlighted throughout is the growing disconnect between workers and their leaders. A notable contributing factor is that smaller, regular layoffs—which the report dubs as “forever layoffs”—are becoming more common than less frequent mass layoffs. Rolling layoffs are among several reasons why many employees feel anxious and less secure in the workplace. Let’s review the report findings. ‘Forever layoffs’ are becoming the norm Layoffs are back to pre-pandemic levels. And smaller, more frequent job cuts are now common. Glassdoor refers to these mini, rolling layof…

U.S. job openings were essentially unchanged million last month amid economic uncertainty arising from President Donald The President’s trade policies and an impending government shutdown. The Labor Department reported Tuesday that job openings blipped up to 7.23 million from 7.21 million in July. Economists had forecast a drop to 7.1 million. The Job Openings and Labor Turnover Survey (JOLTS) showed that layoffs fell month. But so did the number of people quitting their jobs — which is a sign of confidence in their prospects of finding a better job. The report’s measure of hiring last month was the weakest since June 2024. Job openings remain at healthy level…

U.S. job openings barely budged in October, coming in at 7.7 million with ongoing uncertainty over the direction of the American economy. The Labor Department reported Tuesday that employers posted 7.67 million vacancies in October, close to September’s 7.66 million. The Job Openings and Labor Turnover Survey (JOLTS), which was delayed by the extended government shutdown, also showed that layoffs rose to almost 1.9 million, the most since January 2023. And the number of people quitting their jobs — a sign of confidence in the labor market — fell in October, suggesting that “businesses seeking to control labor costs will have to pivot to active layoffs, lifting une…

U.S. employers posted far fewer jobs in November than the previous month, a sign that employers aren’t yet ramping up hiring even as growth has picked up. Businesses and government agencies posted 7.1 million open jobs at the end of November, the Labor Department said Wednesday, down from 7.4 million in October. Layoffs also dropped, however, as companies appear to be holding onto workers even as they are reluctant to add staff. The report suggests that the “low-hire, low-fire” job market remains in effect, with workers enjoying some job security but those out of work struggling to find new jobs. The moribund labor market stands in contrast with data showing solid…

Ethan Bernstein is a professor of business administration in the Organizational Behavior unit at the Harvard Business School. He spent five years at The Boston Consulting Group and two years in executive positions at the Consumer Financial Protection Bureau. Michael Horn is the author of several books, including the award-winning Disrupting Class, Choosing College, Blended, and From Reopen to Reinvent. He is the cofounder of and distinguished fellow at the Clayton Christensen Institute. He also teaches at the Harvard Graduate School of Education and cohosts the higher education podcast Future U. Bob Moesta is the president and founder of the Re-Wired Group, an adj…

Americans filed the fewest new jobless claims in a month last week, and while the number of unemployed workers collecting relief payments has eased from recent highs, there is little indication of a break from the weak hiring environment that settled in over the course of President Donald The President‘s first year back at the White House. Initial claims for state unemployment benefits for the week ended December 27 dropped unexpectedly by 16,000 to a seasonally adjusted 199,000, the lowest since the end of November, Labor Department data showed on Wednesday. Economists polled by Reuters had forecast claims would rise to 220,000. The report was published a day early b…