
Maryland Gov. Moore tells state workers to prepare for hiring freeze, buyouts
Gov. Wes Moore told Maryland state employees on Tuesday that they should brace for a hiring freeze, voluntary buyouts and cuts to the workforce to balance a state budget that has been heavily impacted by Trump administration spending cuts, according to an employee email from the governor reviewed by The Washington Post.
Moore told state employees in the email that the budget for fiscal year 2026, which was passed by the General Assembly this spring, requires his office to cut costs in the General Fund by $121 million. The state will implement a hiring freeze on July 1, a move that comes after months of Moore and state lawmakers trying to entice former federal workers fired by President Donald Trump to come work for the state of Maryland.
Separately, Moore said the state will be launching a voluntary buyout program, the details of which are still being developed, according to the staff email. More information on the buyouts will be announced in 'the next several weeks,' Moore said.
The governor said the state will also be 'assessing opportunities' to eliminate jobs slots within state agencies and other parts of state government that are not currently filled — a process that will ponder whether those positions align with 'mission priorities.'
'In these unprecedented times, Maryland is being tested by two storms: A historic fiscal challenge — the worst since the Great Recession — and a federal administration that continues to harm Maryland's people and the economy,' Moore wrote in the email to state employees. 'Our action positions Maryland to more effectively navigate the extreme uncertainty caused by federal actions.'
The governor said that state officials are 'committed to engaging with our public sector unions as we work through these difficult decisions.'
The governor's office did not immediately respond to a request for comment.
This is a developing story and will be updated.
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


Bloomberg
9 minutes ago
- Bloomberg
Wind, Solar Credits Face Shorter Phase-Out in GOP's New Tax Bill
Key tax incentives for US wind and solar projects would face a more aggressive phase-out in the Senate's latest version of President Donald Trump's spending package. The tweak, which follows pushback by Trump on the Inflation Reduction Act credits, would sharply limit the number of solar and wind farms that qualify for incentives, appeasing opponents while risking the ire of moderate members who argued for a slower phase-out.
Yahoo
24 minutes ago
- Yahoo
Nike Earnings: Revenue and Profit Plunge
Nike beat expectations in the fourth quarter, but both revenue and profit plunged. The company's turnaround strategy created some headwinds in the fourth quarter, and the state of the economy didn't help. Nike still has a lot of work left to do as it tries to return to revenue growth and repair its brand. 10 stocks we like better than Nike › Here's our initial take on Nike's (NYSE: NKE) fiscal 2025 fourth-quarter financial report. Metric Q4 FY24 Q4 FY25 Change vs. Expectations Revenue $12.6 billion $11.1 billion -12% Beat Earnings per share (adjusted) $1.01 $0.14 -86% Beat NIKE Direct revenue $5.1 billion $4.4 billion -14% n/a Gross margin 44.7% 40.3% -4.4 pp n/a Nike beat analyst expectations with its fiscal fourth-quarter results, but the bar was low. Total revenue tumbled 12% year over year, and adjusted earnings per share were down 86%. The company's financial results were "not where we want them to be," said CEO Elliott Hill in the earnings release. Nike is executing on its Win Now strategy, which centers around running, basketball, football, training, and sportswear. The negative financial impact of this plan was at its highest during the fourth quarter, and the company is also dealing with an uncertain economic environment. While revenue tumbled, demand creation spending rose 15% to $1.3 billion as the company boosted spending on sports marketing and brand marketing. NIKE Direct, the company's direct-to-consumer business, saw revenue plunge by 14% year over year, largely due to a 26% drop in digital sales. Wholesale revenue was down 9%, and Converse revenue dropped 26%. Gross margin dove more than 4 percentage points to 40.3%, driven lower by higher discounts and the sales shift away from direct-to-consumer. Nike expects the headwinds from the Win Now initiatives to become less severe in future quarters, although the state of the economy will remain a wild card. Shares of Nike were down about 1% in after-hours trading soon after the fourth-quarter report was released. While Nike's revenue and profit plunged, analysts were expecting worse. The company didn't provide an outlook in its earnings release, and while Hill struck an optimistic tone, a lack of details may have rubbed investors the wrong way. Going into the fourth-quarter report, Nike stock is trading down 17% year to date. Nike's turnaround is going to take time if the fiscal fourth-quarter report is any indication. The company's focus on specific sports could help repair its brand and pay off in the long run, but step one is halting the revenue and profit declines. An uncertain economic climate and trade landscape aren't doing the company any favors. Investors should tune into the earnings call, recorded on Thursday evening, to hear management go into more detail on the company's turnaround strategy. Full earnings report Investor relations page Before you buy stock in Nike, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and Nike wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $704,676!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $950,198!* Now, it's worth noting Stock Advisor's total average return is 831% — a market-crushing outperformance compared to 175% for the S&P 500. Don't miss out on the latest top 10 list, available when you join . See the 10 stocks » *Stock Advisor returns as of June 23, 2025 Timothy Green has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Nike. The Motley Fool has a disclosure policy. Nike Earnings: Revenue and Profit Plunge was originally published by The Motley Fool Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data


Forbes
28 minutes ago
- Forbes
A Home Ground For Washington Freedom Could Ignite Cricket In Maryland
Cricket is developing in Washington DC In the words of owner Sanjay Govil, a highly successful tech entrepreneur, Major League Cricket defending champions Washington Freedom have sought an 'aggressive campaign' to become a visible part of the sports landscape in Maryland and beyond. It has seemingly done the trick so far with the fledgling American T20 competition only in its third season. Freedom games have been broadcast live at certain bars in the DC area while the team have received healthy media exposure, including regular spots on National Public Radio. Making use of being nestled in the nation's capital, Freedom also have held major events, including with the Department of State, in efforts to build strong relations among powerbrokers and also raise the profile of cricket - by some metrics the world's second most popular sport. 'We've been received very well by the community and the local media,' Govil told me in a phone interview. Washington Freedom are defending MLC champions (Photo Arjun Singh / Sportzpics for MLC) It's promising first steps, but Govil knows a permanent home ground is needed to unlock Freedom's potential. The unusual dimensions of an oval-shaped cricket ground, with a turf strip in the middle, makes it challenging for MLC franchises to find suitable infrastructure. Only Texas Super Kings have a permanent facility after repurposing a vacant baseball ground in Dallas, which has become the hub of American cricket and hosted most of the MLC games over the first two seasons. Kick-starting this ongoing tournament with a bang, the MLC was played in the west coast for the first time with San Francisco Unicorns playing its home games at the iconic Oakland Coliseum in what is currently a one-season arrangement. Plans to build a cricket stadium at George Mason University were scrapped, but Freedom's pursuit has continued with a site earmarked. Govil was tight-lipped on specific details, but there have been reports that Freedom are looking to develop in Frederick, about 45 miles north of Washington DC. Govil said he hoped government approvals would be sorted by August and that initial plans centered on a 10,000-seat multi-purpose stadium being built in time for the 2028 season. 'We really need a cricket stadium for the D.C. area, Virginia and Maryland,' Govil said. 'That's really going to grow the fan base, so they can watch us in person. There are a lot of other opportunities too.' A home ground could also lure international cricket with the U.S. men's and women's teams likely to host series ahead of the Los Angeles Olympics, cementing the country as a big ticket destination beyond traditional boundaries. 'The potential is huge. The east coast is ideally suited for the Indian market, so we want to host international cricket series,' Govil said. Along with Unicorns, Freedom are outliers without Indian Premier League investment ties but do have a partnership with Cricket New South Wales. Their international footprint has expanded after Govil secured a 50 per cent stake in Welsh Fire, a professional cricket team in the Hundred competition that has a $110 million valuation. 'Absolutely going to have a partnership (between Freedom and Fire),' Govil said. "We can offer players and coaches to be engaged in the U.S. and U.K. through the summer, essentially part of the same program as the synergies develop between the two." Glenn Maxwell is Freedom's captain (Photo by Arjun Singh/Sportzpics for MLC) As more cricket leagues emerge, while established ones like Australia's Big Bash League consider privatization, Govil looms as an intriguing figure in a traditionally staid sport undergoing rapid change and an influx of cash. He was born in Montreal before moving to India during his formative years with his parents, where he naturally developed a love for the country's favored sport. 'Growing up in India, the love of cricket was there, and even when I moved back to the U.S. I was constantly engaged in watching and playing cricket," he said. Govil's career took off when he moved to Washington D.C. and started Infinite Computer Solutions in 2001. It boasts an annual revenue of $2 billion with 20,000 employees globally while he also owns Zyter TruCare, a leading healthcare technology platform. 'Washington D.C. is obviously where I started my business. It's been a very good place for me and it's very multicultural,' Govil said. 'I couldn't have found a better way of giving something back to the community than the Washington Freedom.' Freedom - a 'unique name that everyone stands for', says Govil - are now entrenched in an underrated sports city marked by a passionate fanbase enduring plenty of heartbreak over the years by their seemingly cursed franchises. Just recently the Wizards, whose only NBA championship was as the Bullets in 1979, had the second worst record this season only to miss out on the Cooper Flagg sweepstakes and slide to No.6 in the upcoming draft. The Freedom's emergence might just change the city's sports luck. They have already brought home an elusive title having stormed to victory last season under legendary Australian Steve Smith. Those hard-bitten local sports fans needing a tonic might just want to jump on the Freedom bandwagon. Steve Smith captained Freedom to the title in 2024 (Photo by GLYN KIRK/AFP via Getty Images) ... More 'It's a very hungry sports market, with amazing fans who haven't had a lot of success," Govil said. "We have an opportunity to capture the market in the southeast of the country, which has no other teams. 'We're trying to create a movement and at the same time grow a league.'