Amazon has begun laying off employees, amid reports this week that the tech giant is planning to cut 10,000 jobs. LinkedIn posts by workers affected by the cuts were first reported on…
Cryptocurrency Markets Reel Following FTX Collapse
Volatility in the cryptocurrency markets is nothing new. In May, markets suffered a $2 trillion crash, and have slowly recovered. But news that the world’s second largest crypto exchange was on the…
Meta Cuts 11,000 Workers as Revenue Plummets
Facebook’s parent company Meta is to cut 11,000 jobs following a catastrophic drop in revenue. The company’s CEO Mark Zuckerberg said in a note to staff that Meta had become overstaffed and…
Hiring Freezes and Workforce Cuts Hit Tech Companies Hard
Several prominent technology companies have announced either hiring freezes or significant cuts in workforce this week, as the industry continues to grapple with difficult economic conditions. Social media giant is said to…
TikTok Reveals Staff in China Get Access to European Users’ Data
The Chinese social video app TikTok has confirmed that some of its employees in China are able to access the data of accounts in the European Union. The company will update its…
Four Immediate Challenges Musk Faces at Twitter
Elon Musk completed his deal to buy the social media giant Twitter last week, and has already begun implementing changes. The billionaire has installed himself as CEO, dismantled the company’s board of…
Microsoft and Alphabet Report Disappointing Q3 Earnings
Tech giants Alphabet and Microsoft both posted disappointing third quarter earnings reports this week, proof that even the largest companies in the sector are not immune to the current global economic strife. …
Tesla Slashes Prices in China Amid Demand Concerns
Tesla has cut prices of its cars in China, as the electric car manufacturer faces increased competition and slowing demand. This week Tesla’s Chinese website offered a Model 3 sedan at a…
Musk Plans to Cut 75% of Twitter Workforce if Deal Completed — Report
Elon Musk plans to cut the workforce of Twitter by 75% if he finalizes his deal to buy the company, according to a report from the Washington Post. Twitter has already announced…
Netflix Stock Jumps as Subscriber Numbers Beat Expectations
Shares in Netflix jumped this week after the streamer revealed it added more than 2.4 million subscribers in the third quarter, putting an emphatic end to a streak of customer losses. The…