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With the Strait of Hormuz in crisis and gas prices surging, few executives are feeling the pressure more acutely than Ford Motor Company CEO Jim Farley. He gives a candid account of what the turmoil means for the auto industry, and for an iconic American brand navigating one of the most turbulent moments in its history. Plus, Farley gets frank about the China threat reshaping the global auto business, and his frustration with Ford’s own ingenuity. This is an abridged transcript of an interview from Rapid Response, hosted by the former editor-in-chief of Fast Company Bob Safian. From the team behind the Masters of Scale podcast, Rapid Response features candid conversa…

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…

Layoffs are at an all-time high since 2009, and we’re also experiencing the lowest hiring on record in the job market. But AI spending is also reaching all-time highs—especially among Big Tech companies, who are on an extravagant spending spree. As I recently reported, Alphabet, Meta, Microsoft, and Amazon are forecast to drop a staggering $650 billion on AI in 2026 alone. And while many companies are pouring a lot of that money—we’re talking hundreds of billions—into building massive data centers, hoping to establish a long-term strategic advantage in the AI-arms race, many are still hiring workers for jobs that utilize AI skills. So, what are those skills? While…

When the email pinged in my inbox, I didn’t even bother to open it immediately. I already knew what it was. One glance at the subject line told me everything. After enough time on the job hunt, you develop a sixth sense for HR language. The preview text—“Thank you for taking the time…”—said it all. It’s the standard soft intro to bad news: Your application was amazing . . . but not amazing enough. The blow softens once you’ve received a few of these. But the emotions that follow resemble the five stages of grief: denial, anger, bargaining, depression, and eventually, acceptance. I ran the gamut of these feels when I got my latest rejection for a role that seemed p…

Whether you’re doomscrolling on LinkedIn or talking to friends, AI-induced job loss anxiety feels inescapable right now. As companies go full throttle on investing in automation tools, the fear that entire roles can be instantly eliminated feels very real. After the surge in economic activity and tech adoption during the pandemic, tech companies issued mass layoffs after over-expanding. That trend continued in the last few months, with tech giants like Amazon and Oracle laying off thousands of employees. But there have been a few silver linings in the mostly pessimistic discourse around AI and the future of work: A recent surprising bright spot in hiring right now fo…

U.S. job openings fell to the lowest level in more than five years, another sign that the American labor market remains sluggish. The Labor Department reported Thursday that vacancies fell to 6.5 million in December — from 6.9 million in November and the fewest since September 2020. Layoffs rose slightly. The number of people quitting their jobs — which shows confidence in their prospects — was basically unchanged at 3.2 million. December openings came in lower than economists had forecast. The economy is in a puzzling place. Growth is strong: Gross domestic product — the nation’s output of goods and services — advanced from July through September at the faste…

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…

Hiring likely remained subdued last month as many companies have sought to avoid expanding their workforces, though the job gains may be enough to bring down the unemployment rate. December’s jobs report, to be released Friday, is likely to show that employers added a modest 55,000 jobs, economists forecast. That figure would be below November’s 64,000 but an improvement after the economy lost jobs in October. The unemployment rate is expected to slip to 4.5%, according to data provider FactSet, from a four-year high of 4.6% in November. The figures will be closely watched on Wall Street and in Washington because they will be the first clean readings on the labor market…

U.S. employers added a surprisingly strong 130,000 jobs last month, but government revisions cut 2024-2025 U.S. payrolls by hundreds of thousands. The unemployment rate fell to 4.3%, the Labor Department said Wednesday. The report included major revisions that reduced the number of jobs created last year to just 181,000, weakest since the pandemic year of 2020, and less than half the previously reported 584,000. The job market has been sluggish for months even though the economy is registering solid growth. But the January numbers came in stronger than the 75,000 economists had expected. Healthcare accounted for nearly 82,000, or more than 60%, of last month’s new job…

The skies over London could soon get a lot more exciting. Joby Aviation, the California-based electric air taxi company, announced an exclusive partnership with Virgin Atlantic on Saturday that it says will pave the way to launching its vehicles across the United Kingdom. The partnership will see Joby’s services integrated into Virgin’s app and website, and connect passengers at Heathrow and Manchester airports. Passengers will be able to reserve a seat on a Joby air taxi using Virgin’s app, the companies say. The announcement did not say when service is expected to begin. “We are delighted to be partnering with Joby to bring short-haul, zero-emission flights…

When it comes to podcasting, it’s Joe Rogan’s world. The Joe Rogan Experience was the most popular podcast of 2025, according to Apple’s just-released rankings. This is the first year Rogan has topped the Apple charts. Last year, he took the bronze medal, behind The Daily and Crime Junkie (both of which still made the Top 10 this year). Two years ago, he didn’t make the list (thanks to an exclusivity agreement with Spotify, signed in 2020—where he also currently holds the No. 1 spot). Rogan’s podcast certainly had head-turning guests this year, including a much-listened-to interview with Elon Musk. The Daily, from The New York Times, was Apple’s second-most popula…

The most impressive move by three-time world surfing champ John Florence in his new video series isn’t riding a wave; it’s flying across open ocean on a catamaran while holding his puking 1-year-old son over a bucket. The new six-part series called Vela, directed by Florence and produced with outdoor gear and apparel company Yeti, embodies a broader shift in how the iconic surfer is approaching both his career and the goal behind his namesake brand, Florence. After winning his third World Surf League title in September 2024, Florence chose to leave the pro surfing tour to sail around the world with his wife, Lauryn, and son, Darwin. They lived off the grid, e…