After falling short of its hiring targets as part of a tax break program, Boston-based Wayfair Inc. said it is freezing corporate hiring for three months, citing a "great deal of uncertainty in the overall economy." In a written statement, the online furniture retailer (NYSE: W) said on Tuesday that the "short-term hiring pause" will not impact Wayfair's long-term plans. The news of Wayfair halting corporate hiring comes about three weeks after the Business Journal reported how the online retailer was falling short of the hiring targets it pledged as part of a pre-Covid $31 million tax break. Read More...
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What Appian’s $2 Billion Verdict Means
A jury in the Circuit Court for Fairfax County, Virginia, found that Pegasystems (NASDAQ: PEGA), Appian’s chief competitor, had stolen trade secrets from Appian during a period of time starting in 2012. Appian shares jumped 39% last Tuesday after the news came out, while Pegasystems’ stock plunged 21%. Pending appeals, Appian stands to win $2.036 billion based on Pegasystems’ enrichment from its intellectual property, a large sum for Appian, which currently has a market cap of less than $4 billion and $160 million in cash.
