Target slashes bonuses, Walmart holds the eggs, and cheaper Wegovy: Business news roundup

Target has announced it will reduce bonuses for salaried employees due to weak consumer spending and inflationary pressures.

Bloomberg, citing sources with knowledge of the situation, said employees will receive 87% of their eligible 2024 bonuses, a sharp decline from the previous year, when workers received 100% of their bonuses, with some even seeing their payouts double.

In this photo illustration, boxes of the diabetes drug Ozempic rest on a pharmacy counter on April 17, 2023 in Los Angeles, California.

In this photo illustration, the injectable weight-loss medication Wegovy is available at New City Halstead Pharmacy on April 24, 2024 in Chicago, Illinois.

Novo Nordisk (NVO), the maker of the blockbuster drug Ozempic, is cutting the price of its weight loss drug by more than half for even more patients that pay without insurance.

Mark Zuckerberg’s Meta Platforms is one of several companies said to be considering reincorporating otuside of Delaware.

Delaware lawmakers on Tuesday night passed a bill restructuring its corporate code, as the state tries to prevent companies like Meta (META) from exiting the state.

Walmart wants shoppers to celebrate Easter, even if eggs aren’t included in this year’s basket.

The company says its holiday meal for Easter 2025 is cheaper than last year’s, adding that it has something for “everybunny.” This year, Walmart’s (WMT) nine-item meal kit will feed eight for less than $6 per person, with a complete meal priced under $40. In comparison, last year’s kit included 15 items, including eggs, and served up to 10 people, with a total cost of under $80, or less than $8 per person.

A Berkshire Hathaway (BRK.A) employee has finally won Warren Buffet’s $1 million jackpot for the company’s March Madness bracket.

The employee, who was not named, works for a Berkshire Hathaway subsidiary called FlightSafety International. The worker won the jackpot for correctly guessing 31 of the 32 first-round games.

In Starbucks (SBUX)’ most recent earnings call, CEO Brian Niccol hit on the company’s “Back to Starbucks” theme, an effort to return the chain to its roots.

Tesla and SpaceX CEO Elon Musk attends a cabinet meeting held by U.S. President Donald Trump at the White House on March 24, 2025 in Washington, DC.

President Donald Trump’s new auto tariffs will have a “significant” effect on Tesla (TSLA), CEO Elon Musk says.

“Important to note that Tesla is NOT unscathed here,” Musk said on his X on Wednesday evening. “To be clear, this will affect the price of parts in Tesla cars that come from other countries. The cost impact is not trivial,” he added in another post.

Gap is betting Old Navy and AI will help solidify its position in retail