Mattress company Casper warned in its IPO filing Friday that social media influencers, used by the company as a marketing tool to boost brand recognition, could also pose a financial risk, the Financial Times reports.
Why it matters: The mattress-in-a-box brand is one of many that have taken advantage of the $8 billion influencer marketing industry through partnerships with celebrities like Kylie Jenner, who has more than 150 million Instagram followers. But those massive platforms come with risks, especially since the company can't control the non-branded content that influencers post.
Boeing supplier Spirit AeroSystems announced Friday it will lay off more than 20% of its workforce in Wichita, Kansas, just one day after documents were revealed confirming that Boeing employees had raised concerns about the 737 MAX's safety, AP reports.
Why it matters: The roughly 2,800 layoffs are a sign that Boeing's difficulties are beginning to ripple out, AP writes. Spirit AeroSystems, Wichita's largest employer, cites the "ongoing uncertainty" surrounding Boeing's 737 MAX jet as the primary reason for the layoffs, the Washington Post notes.
