By Tiffany Williams –
Wall Street, Main Street, and the shop floor all collided this week as layoffs rippled through Massachusetts, restaurants reshuffled Boston’s dining scene, and corporate America delivered a mixed bag of boom-and-bust headlines.
ZIPCAR PULLS OUT, JOBS CUT
Avis Budget Group Inc. is yanking Zipcar’s headquarters out of Boston, shutting down its longtime corporate base at 35 Thomson Place and eliminating the local corporate roles tied to that office. The move follows the integration of Zipcar’s operations into its parent company, ending the era of a standalone Boston HQ and putting more local staffers out of work as consolidation takes hold.
PANERA AXES 92 JOBS
Panera Bread is closing its Franklin bakery facility in March, wiping out 92 jobs as the fast-casual chain overhauls how it makes bread. The company is phasing out its “fresh dough facilities” in favor of a system where bread is par-baked, frozen, and shipped to restaurants to be finished on-site. For Franklin workers, the shift is anything but fresh.
THERMO FISHER SHUTTERS SITE
Thermo Fisher Scientific Inc. is closing its facility at 27 Forge Parkway in Franklin, triggering layoffs tied directly to the shutdown. The Waltham-based life sciences giant disclosed the cuts in a notice filed with the state, adding another blow to the region’s manufacturing and lab workforce.
CAPE COD CHIPS GO DARK
The Cape Cod potato chip plant in Hyannis is shutting down, costing nearly 50 people their jobs. Owner Campbell’s Co., which bought the site in 2018, said the closure is part of a broader push to consolidate potato chip production and reshape its snack supply chain. For a plant long associated with local flavor, the ending is anything but savory.
NORTH END GETS A NEW BITE
Amid the layoffs, Boston’s North End scored a fresh arrival. Umami Crudo has opened at 78 Salem Street, taking over the space vacated by Crudo last fall. The restaurant has ownership ties to Umami Omakase in Cambridge and is pitching itself as “more accessible,” serving sushi, rolls, and Japanese tapas in one of the city’s most competitive dining neighborhoods.
DISNEY BEATS, STOCK TANKS
Disney reported fiscal first-quarter results that topped forecasts, powered by a record quarter in its parks business, but profits still fell year over year as costs climbed. Adjusted earnings came in at $1.63 per share, beating expectations, while revenue rose 5% to $26 billion. Operating income slid to $4.6 billion from $5.1 billion a year ago. Parks and experiences delivered $10 billion in revenue, with U.S. attendance up 1% and spending per guest up 4%. Even so, Disney warned that fewer international visitors could weigh on results, and the stock dropped more than 6% as investors digested the outlook. The report landed just hours after news that Josh D’Amaro is close to being named the company’s next CEO.
VALENTINE’S DAY SPENDING GOES WILD
Love is getting expensive. Consumer spending for Valentine’s Day is projected to hit a record $29.1 billion, according to the National Retail Federation. Shoppers plan to spend an average of $199.78, the highest on record, with more than half of consumers celebrating. Jewelry is expected to soak up $7 billion, followed by nights out at $6.3 billion, as even pets cash in on the holiday splurge.
APPLE’S IPHONE BET
Demand for the iPhone 17 Pro models is setting Apple up for its biggest iPhone sales jump in more than four years. Analysts expect iPhone revenue to surge nearly 14% in the December quarter, with total revenue forecast to climb to a record $138.43 billion. Apple held a 20% global smartphone market share in 2025, and sales momentum carried through late in the year even without AI driving demand. The company plans to roll out AI features using Google’s Gemini, a move seen as boosting iPhone appeal while keeping costs in check, though rising expenses from a global memory chip shortage remain a looming risk.
From Boston boardrooms to Cape Cod factory floors, the message is blunt: consolidation is crushing jobs, consumers are still spending, and investors are demanding growth — no excuses.