DIRS.INFO The most relevant business & tech news

☆ Meta says Broadcom CEO Hock Tan is joining board of directors
▼ + stars: | 2024-02-14 | by ( Jonathan Vanian | In | ) www.cnbc.com time to read: +1 min

Meta said Wednesday that Broadcom CEO president Hock Tan and philanthropist and former Enron executive John Arnold are joining the company's board of directors. Tan has been leading the semiconductor giant since 2006, giving him extensive international experience working in computing infrastructure technology. "As we focus on building AGI, having directors with deep expertise in silicon and energy infrastructure will help us execute our long term vision," Meta CEO Mark Zuckerberg said in a statement. The technical backgrounds of the incomers contrast with former Meta operating chief Sheryl Sandberg, who recently said she would step down from the company's board. Tan and Arnold join a board that includes former PayPal Executive Vice President Peggy Alford, venture capitalist Marc Andreessen, Dropbox CEO Drew Houston, former U.S. deputy secretary of the treasury Robert M. Kimmitt and DoorDash CEO Tony Xu.

Persons: Meta, Hock Tan, John Arnold, Tan, Mark Zuckerberg, Sheryl Sandberg, Sandberg, Zuckerberg, Arnold, Peggy Alford, Marc Andreessen, Drew Houston, Robert M, Tony Xu, Meta's Ray Organizations: Broadcom, Enron, Meta, Google, Arnold Ventures, Grid United Locations: Houston, U.S

☆ Pinterest shares bounce back after CEO announces app deal with Google
▼ + stars: | 2024-02-08 | by ( Jonathan Vanian | In | ) www.cnbc.com time to read: +2 min

Pinterest shares plummeted in extended trading on Thursday after the company issued a weaker-than-expected forecast and missed on revenue. Revenue : $981 million vs. $991 million expected, according to LSEG, formerly known as Refinitiv. : $981 million vs. $991 million expected, according to LSEG, formerly known as Refinitiv. Earnings: 53 cents per share, adjusted, vs. 51 cents per share expected, according to LSEG. Prior to Thursday's report, Pinterest shares were up 9.5% this year after surging 53% in 2023.

Persons: Pinterest, Bill Ready, Evan Spiegel Organizations: Revenue, Google Locations: Toronto , Ontario, Canada, LSEG, Ukraine

☆ Snap shares drop 30% after company's revenue miss and weak guidance
▼ + stars: | 2024-02-07 | by ( Alex Koller | ) www.cnbc.com time to read: +3 min

Evan Spiegel, CEO of Snap Inc., speaks onstage during the Snap Partner Summit 2023 at Barker Hangar on April 19, 2023 in Santa Monica, California. Snap shares tanked 30% in Wednesday morning trading, a day after the company missed revenue estimates and issued light guidance in its fiscal fourth-quarter earnings report. Snap reported revenue of $1.36 billion for the quarter, slightly below the $1.38 billion expected by analysts, according to LSEG, formerly known as Refinitiv. They noted that strong ad improvements and impression growth at Meta and Amazon could represent another headwind for Snap's ad revenue. "Stepping back, 4Q was a mixed bag, but the acceleration in 1Q gives us confidence that things are getting back on track," the analysts wrote.

Persons: Evan Spiegel, Morgan Stanley, — CNBC's Michael Bloom, Jonathan Vanian Organizations: Snap Inc, Barker, Meta, Barclays, 4Q, SNAP, JPMorgan, CNBC PRO Locations: Santa Monica , California

☆ Snap plunges 30% on revenue miss and light guidance, as Middle East conflict creates 'headwind'
▼ + stars: | 2024-02-06 | by ( Jonathan Vanian | In | ) www.cnbc.com time to read: +5 min

Revenue : $1.36 billion vs. $1.38 billion expected, according to LSEG. : $1.36 billion vs. $1.38 billion expected, according to LSEG. Global Daily Active Users : 414 million vs. 412 million expected, according to StreetAccount. : 414 million vs. 412 million expected, according to StreetAccount. Daily active users for the first quarter will be 420 million, Snap said, slightly topping analyst estimates of 419.3 million.

Persons: Evan Spiegel, Porte, Debra Aho Williamson, Mark Zuckerberg, Linda Yaccarino, Shou Zi Chew, Jason Citron, Pinterest Organizations: Inc, Viva Technology, Porte de, CNBC, Meta Locations: Paris, Israel

☆ Meta is trouncing Snap in Digital ads — here's why
▼ + stars: | 2024-02-06 | by ( Jonathan Vanian | In | ) www.cnbc.com time to read: +2 min

In this screengrab, CEO of Snap Inc. Evan Spiegel takes the stage at the virtual Snap Partner Summit 2021 on May 20, 2021 in Los Angeles. The online ad market is bouncing back. Snap reported an increase of just 5% year-over-year, its sixth straight quarter of single-digit growth or a decline in sales. For the first quarter, Snap projected revenue of $1.095 billion to $1.135 billion, which would equal growth of between about 11% and 15%. Broadly, the digital ad market is recovering from a brutal 2022, when soaring inflation and rising interest rates led brands to reel in spending.

Persons: Evan Spiegel, Meta, Jasmine Enberg Organizations: Snap Inc, Facebook, Google, Microsoft, Insider Intelligence Locations: Los Angeles, Paris

☆ Digital ad market shows signs of sharp rebound as Meta, Amazon point to growth
▼ + stars: | 2024-02-05 | by ( Jonathan Vanian | In | ) www.cnbc.com time to read: +4 min

During that period Meta's ad revenue fell 4%, and Google's ad business suffered a similar drop . A year ago, Meta finance chief Susan Li offered chilling commentary about the state of the digital ad market, telling analysts that the struggling industry would remain in a slump. Meanwhile Alphabet, still the market leader, saw its Google ad business rise 11% to $65.5 billion, boosted by 16% growth at YouTube. Investors will get additional data on the digital ad market when Snap and Pinterest report earnings this week. On the whole, "digital advertising is continuing to eat up share" of worldwide advertising, Williamson said.

Persons: Li, Susan Li, Debra Aho Williamson, William Blair, Williamson, Meta Organizations: Google, YouTube, Insider Intelligence, CNBC, Intelligence, Meta, Investors, Bank of America Global Research Locations: Paris, Russia, Ukraine, China, Red

☆ Meta's stock could rise 50% in 2 years, pro says, as shares soar in premarket trade
▼ + stars: | 2024-02-02 | by ( Katrina Bishop | ) www.cnbc.com time to read: +2 min

Meta stock has serious upside potential, according to Deepwater Asset Management's Gene Munster, who said things at the company were looking good and will "likely get better." Meta stock was up over 16% in premarket trade early Friday, after the tech giant reported better-than-expected results and announced its first-ever dividend payment. Asked whether Meta could potentially become a $700 stock, Munster said: "This is not a formal price target, but yes, I believe this can go up 50% over the next couple of years." META 1Y mountain Meta stock Munster's call follows fourth-quarter earnings that surprised both investors and analysts. "I think that things are good at Meta , but they will likely get better," he added.

Persons: Gene Munster, LSEG, Meta, Munster, —, Jonathan Vanian Organizations: Munster, Deepwater, Reality Labs, Apple, Vision, Meta

☆ Mark Zuckerberg says Meta will 'keep things lean,' going big in AI with a lid on hiring
▼ + stars: | 2024-02-01 | by ( Jonathan Vanian | In | ) www.cnbc.com time to read: +2 min

Meta founder and CEO Mark Zuckerberg speaks during the Meta Connect event at Meta headquarters in Menlo Park, California, on Sept. 27, 2023. Mark Zuckerberg is so pleased with his "year of efficiency" that he's extending it indefinitely. On Thursday's earnings call, after Meta reported fourth-quarter financials that sailed past analysts' estimates, Zuckerberg said he wants to "keep things lean" and has no plans to accelerate hiring. At the time, Meta was facing a tough digital ad market and the lingering effects of Apple's 2021 iOS update. On Thursday, Meta reported fourth-quarter sales growth of 25%, the fastest rate of expansion since mid-2021, to $40.1 billion.

Persons: Mark Zuckerberg, Zuckerberg, Meta Organizations: Meta, Nvidia Locations: Menlo Park , California

☆ Meta’s Reality Labs loses record $4.65 billion ahead of Apple's Vision Pro launch
▼ + stars: | 2024-02-01 | by ( Jonathan Vanian | In | ) www.cnbc.com time to read: +1 min

Mark Zuckerberg, CEO of Meta Platforms, demonstrates the Meta Quest Pro during the virtual Meta Connect event in New York on Oct. 11, 2022. Meta continues to sink billions of dollars a quarter into developing the metaverse, and is just now facing its first real competitive threat from Apple . In its fourth-quarter earnings report Thursday, Meta said its Reality Labs unit recorded an operating loss in the period of $4.65 billion. The metaverse division has now lost more than $42 billion since the end of 2020, the first quarter for which numbers are available publicly. Revenue within Reality Labs was more than $1 billion in the fourth quarter, up from $727 million in the same period a year earlier.

Persons: Mark Zuckerberg, Meta, StreetAccount Organizations: Meta, Apple, Reality Labs Locations: New York

☆ Meta to report fourth-quarter earnings after the bell
▼ + stars: | 2024-02-01 | by ( Jonathan Vanian | In | ) www.cnbc.com time to read: +3 min

Meta will report fourth-quarter earnings after the bell on Thursday. In Alphabet 's earnings report on Tuesday, the company said Google ad revenue increased 11% from a year earlier, slower expansion than analysts were expecting. Meta finance chief Susan Li most recently highlighted the significance of business from China in the company's third-quarter earnings report in October. Analysts expect Reality Labs to show revenue of $762.8 million for the quarter and an operating loss of $4.26 billion, according to StreetAccount. Apple and Amazon are also slated to report fourth-quarter results on Thursday, wrapping up earnings season for tech's mega-cap companies.

Persons: Mark Zuckerberg, Meta, Susan Li, Li, Zuckerberg Organizations: U.S, Capitol, LSEG, StreetAccount, Google, Facebook, Meta, Wednesday, Labs, Apple Locations: Washington , U.S, China

☆ Meta's continued rally could hinge on the fortunes of upstart retailers Temu and Shein
▼ + stars: | 2024-01-31 | by ( Jonathan Vanian | In | ) www.cnbc.com time to read: +9 min

Temu is owned by PDD Holdings , a Chinese company that moved its principal office to Ireland last year. Meta is expected to report revenue growth of 22% for the quarter to $39.2 billion, according to analysts surveyed by LSEG, formerly Refinitiv. JMP analysts estimated that Temu and Shein spent roughly $600 million and $200 million, respectively, on Facebook and Instagram ads in the third quarter. In December, Temu sued Shein, alleging questionable business practices and a "mafia-style intimidation of suppliers," according to legal documents. Meta isn't the only U.S. internet company effected by the speedy growth from Temu and Shein.

Persons: Mark Zuckerberg, Jack Ma, Shu Zhang, Victor Lee, Lee, who's, Shein, Meta, Pavlo Gonchar, Temu, didn't, Susan Li, data.AI, It's, Chris Mack, Harding Loevner, they've, Mack, Shein confidentially, Mike Gallagher, Gallagher, Brian Wieser, Josh Silverman, Silverman Organizations: Alibaba, China Development Forum, Reuters, Facebook, Hasbro, Unified Commerce, Amazon, PDD Holdings, U.S, Mobile, Meta, LSEG, Getty, CNBC, Cyberspace Administration, China, Street Journal, Google Locations: Beijing, China, Ireland, Singapore, UKRAINE, U.S, United States, Wall, Asia, Pacific, Temu, Meta

☆ Meta, X, TikTok, Snap and Discord face growing appetite in Congress for tighter social media regulation
▼ + stars: | 2024-01-31 | by ( Jonathan Vanian | In | ) www.cnbc.com time to read: +5 min

(L-R) Shou Zi Chew, CEO of TikTok, Linda Yaccarino, CEO of X, and Mark Zuckerberg, CEO of Meta testify before the Senate Judiciary Committee at the Dirksen Senate Office Building on January 31, 2024 in Washington, DC. Tillis and other lawmakers accused the tech executives of failing to protect children from sexual exploitation on their respective social media platforms. Growing appetite for regulationTo be sure, both Republican and Democratic senators were united in their conviction that social media firms are failing the American public and directly harming young people. Still, it takes time for bills to get passed, and all of these social media firms are still getting slammed for child-safety related issues, which could keep the topic fresh in the minds of politicians. Watch: Meta CEO Mark Zuckerberg apologizes to parents at online child safety Senate hearing.

Persons: Shou Zi Chew, Linda Yaccarino, Mark Zuckerberg, Meta, Alex Wong, Sen, Thom Tillis, Tillis, Josh Hawley, Zuckerberg, Tom Cotton, Chew Organizations: Dirksen, Facebook, Republican, Democratic, Meta, New, Apple, Lawmakers, Chinese Communist Party Locations: Washington , DC, Cambridge, China

☆ Lawmakers to grill CEOs of Meta, TikTok, X and other social media firms at hearing on child safety
▼ + stars: | 2024-01-31 | by ( Jonathan Vanian | In | ) www.cnbc.com time to read: +4 min

Mark Zuckerberg, Linda Yaccarino, Evan Spiegel and other leading social media executives face a grilling on Wednesday from lawmakers concerned about child exploitation and safety on their services. Lawmakers from both sides of the aisle have blasted the companies for failing to properly address what some have called a "plague of online child sexual exploitation" on social media apps. Wednesday's hearing is focused specifically on issues pertaining to child exploitation and the prevalence of child sexual abuse material on social media. The social media executives are expected to detail their efforts combating child exploitation on their platforms, which include working with law enforcement and tasks like proactively identifying potential predators. Watch: Early Meta platforms investor Brad Gerstner tackles big tech ahead of key earnings week

Persons: Mark Zuckerberg, Linda Yaccarino, Evan Spiegel, —, Shou Zi Chew, Jason Citron, Sen, Dick Durbin, Lindsey Graham, S.C, Citron, Meta, Brad Gerstner Organizations: Meta, U.S, Senate, Intelligence, Capitol, Washington , D.C, TikTok, Spiegel, Google YouTube, Committee, Lawmakers, Electronic Frontier Foundation, American Civil Liberties Union Locations: Washington ,, Washington, . New

☆ OpenAI is working on AI education and safety initiative with Common Sense media
▼ + stars: | 2024-01-29 | by ( Jonathan Vanian | In | ) www.cnbc.com time to read: +3 min

OpenAI said Monday that it's partnering with Common Sense Media on an initiative designed to help teens understand how to use artificial intelligence in a safe manner. Common Sense, a nonprofit focused on making technology safe and accessible to kids, has been working to develop an AI ratings and review system intended for parents, children and educators to better understand the technology's risks and benefits. In September, Craig Newmark Philanthropies, the Craigslist founder's philanthropic arm, said it contributed $3 million to help fund a Common Sense artificial intelligence and education initiative. OpenAI and Common Sense didn't say how LLMs will be tweaked to help aid educators or teens. Altman said LLMs customized for educational purposes could help teens "who want to learn about science or learn about biology."

Persons: Sam Altman, OpenAI, Jim Steyer, Altman, Craig Newmark Philanthropies, Newmark Organizations: Economic, Media, Craigslist, CNBC, Microsoft Locations: Davos, Switzerland, San Francisco

At Meta, in CEO Mark Zuckerberg's words, 2023 was the "year of efficiency," and the stock jumped almost 200% alongside 20,000 job cuts. AI demand is so great that some tech companies are cutting headcount in parts of the business to invest more heavily in developing AI products. Phil Spencer, CEO of Microsoft Gaming, appears at the Political Opening of the Gamescom conference in Cologne, Germany, on Aug. 23, 2023. Within tech, a wide variety of companies, big and small and spanning the consumer and enterprise markets, are eliminating jobs. But, he added, there's an "enormous base" of small and mid-sized tech companies across the U.S., and that in some cases contractors, freelancers and overseas workers are being hit particularly hard.

Persons: Peter Kramer, They've, Mark Zuckerberg's, Zeile, Phil Spencer, Franziska Krug, Sundar Pichai, Bob Carrigan, Nigel Vaz, Publicis Sapient, Salesforce, Meta's, " Vaz, Levi Strauss, Bob Bakish, Tim Herbert, Herbert, there's, Vaz, Michael Bloom, Annie Palmer, Jennifer Elias Organizations: Nasdaq, CNBC, Apple, Meta, Microsoft, Investors, Activision Blizzard, SAP, Microsoft Gaming, Facebook, Citigroup, Paramount, Commerce Department, Gross Locations: Cologne, Germany, U.S

☆ HPE hacked by same Russian intelligence group that hit Microsoft
▼ + stars: | 2024-01-24 | by ( Jonathan Vanian | In | ) www.cnbc.com time to read: +2 min

Antonio Neri, president and chief executive officer of Hewitt Packerd Enterprise (HPE), speaks during the HPE Discovery CIO Summit in Las Vegas, Nevada, U.S., on Tuesday, June 19, 2018. HPE said that it is still investigating the hack, which it believes was related to another incident that occurred in June 2023. During that event, the hackers managed to compromise "a limited number of SharePoint files as early as May 2023," HPE wrote in the filing. "Upon undertaking such actions, we determined that such activity did not materially impact the Company." In 2020, this same Russian intelligence-linked hacking group also conducted the infamous breach of government supplier SolarWinds.

Persons: Antonio Neri, Hewitt, Bridget Bennett, Bear, HPE Organizations: Enterprise, Bloomberg, Getty, Hewlett Packard Enterprise, Microsoft, SolarWinds Locations: Las Vegas , Nevada, U.S, Russian

☆ TikTok cuts about 60 jobs as January layoffs continue across tech industry
▼ + stars: | 2024-01-23 | by ( Jonathan Vanian | In | ) www.cnbc.com time to read: +2 min

TikTok Music has launched on Wednesday in Australia, Singapore and Mexico to a small group of users. TikTok has cut about 60 jobs, CNBC confirmed, the latest tech company to downsize at the start of 2024. Tech companies like Amazon , Alphabet , Unity , Discord and Trend Micro have all cut staff in January, continuing a trend from last year, when the industry slimmed down and slashed costs following an extended boom. In November, ByteDance slashed hundreds of jobs in the company's gaming division, Nuverse. The layoffs indicated that ByteDance was scaling back its gaming efforts, an area where it's been competing with Chinese rivals Tencent and NetEase.

Persons: Dylan Jadeja, TikTok, ByteDance, it's, Tencent, we've Organizations: CNBC, NPR, Tech, Riot, Apple Locations: Australia, Singapore, Mexico, Los Angeles , New York, Austin , Texas, U.S

☆ EBay to eliminate about 1,000 jobs, or 9% of full-time workforce
▼ + stars: | 2024-01-23 | by ( Jonathan Vanian | In | ) www.cnbc.com time to read: +2 min

EBay said Tuesday that it plans to lay off 9% of the company's workforce, equal to about 1,000 full-time jobs, as the tech industry continues to downsize to start 2024. Iannone said the job cuts are necessary because eBay's "overall headcount and expenses have outpaced the growth of our business." Following hefty job cuts last year, tech companies have continued to eliminate positions in January as concerns about consumer and business spending persist. Regarding eBay's cuts, Iannone said he wants employees to work from home on Jan. 24, "to provide some space and privacy for these conversations." EBay shares dropped about 4% in November after the company provided fourth-quarter revenue guidance that trailed Wall Street estimates.

Persons: Jamie Iannone, Iannone, Jim Cramer Organizations: EBay, SAP, eBay, Wall Locations: downsize, Europe

☆ Meta's retreat from news accelerated in 2023, leaving publishers scrambling for traffic
▼ + stars: | 2024-01-22 | by ( Jonathan Vanian | In | ) www.cnbc.com time to read: +14 min

At Mother Jones, a 48-year-old nonprofit magazine specializing in politics and investigations, the implications were dramatic. "The firehose of Facebook traffic was never going to pay for our journalism, for the majority of our journalism," Bauerlein said. Last decade, many publishers saw their "social traffic decline pretty dramatically," with Facebook deprioritizing text-based articles in favor of video content, Cholke said. "If we all end up finding news in the metaverse, then you'll be finding Mother Jones in the metaverse," she said. What Mother Jones won't do, she said, is "bet everything on one platform, because that never works out."

Persons: Mark Zuckerberg, Sen, John Kennedy, Bill Clark, Reuters Mother Jones, Monika Bauerlein, Mother Jones, Meta, Donald Trump, Bauerlein, Jill Nicholson, Nicholson, Zuckerberg, David Carr, Carr, We've, Meta hasn't, It's, Similarweb, Sam Cholke, John S, Adams, Jonah Peretti, " Peretti, Jessica Probus, BuzzFeed's, BuzzFeed, Probus, Cholke, that's, Chartbeat's Nicholson, Mathew Ingram, Facebook, Ingram, Pew, Elisa Shearer, influencers, Jones Organizations: Facebook, Reuters, Mother, CNBC, Google, Meta, Daily, Comcast, Vice Media, Institute for Nonprofit News, Texas Tribune, Montana Free Press, The Texas Tribune, Institute for Nonprofit, Longtime, Columbia Journalism, Pew Research Center, Pew Locations: Washington, France, Germany, Australia, Helena, American

☆ Meta shares close at a record as last year's mega rally continues
▼ + stars: | 2024-01-19 | by ( Jonathan Vanian | In | ) www.cnbc.com time to read: +1 min

Meta founder and CEO Mark Zuckerberg speaks during the Meta Connect event at Meta headquarters in Menlo Park, California, on Sept. 27, 2023. The share rose almost 2% on Friday to close at $383.45, setting a new record. Zuckerberg pitched 2023 as a "year of efficiency" following a disastrous 2022, when the stock plunged 64% to its lowest since 2016. However, Meta's market cap is still below its record, because the company has been buying back tens of billions of dollars in stock, reducing the number of shares outstanding. Watch: The AI dark horse: Why Apple could win the next evolution of the AI arms race

Persons: Mark Zuckerberg, Mark Zuckerberg's, Zuckerberg, Meta Organizations: Meta, Apple Locations: Menlo Park , California

☆ Mark Zuckerberg indicates Meta is spending billions of dollars on Nvidia AI chips
▼ + stars: | 2024-01-18 | by ( Jonathan Vanian | In | ) www.cnbc.com time to read: +3 min

Meta founder and CEO Mark Zuckerberg speaks during the Meta Connect event at Meta headquarters in Menlo Park, California, on Sept. 27, 2023. Meta is spending billions of dollars on Nvidia's popular computer chips, which are at the heart of artificial intelligence research and projects. In December, tech companies like Meta, OpenAI and Microsoft said they would use the new Instinct MI300X AI computer chips from AMD. Meta is currently training Llama 3 and is also making its Fundamental AI Research team (FAIR) and GenAI research team work more closely together, Zuckerberg said. Shortly after Zuckerberg's post, LeCun said in a post on X, that "To accelerate progress, FAIR is now a sister organization of GenAI, the AI product division."

Persons: Mark Zuckerberg, Zuckerberg, Raymond James, Meta, Yann LeCun, LeCun, Jensen Huang, Zuckerberg's, Kif Leswing Organizations: Meta, Nvidia, Zuckerberg, eBay, Microsoft, AMD, AI Research, FAIR, Apple Locations: Menlo Park , California, San Francisco

☆ Sheryl Sandberg says she's leaving Meta's board
▼ + stars: | 2024-01-17 | by ( Jonathan Vanian | In | ) www.cnbc.com time to read: +4 min

Former Meta operating chief Sheryl Sandberg is leaving the company's board of directors. "With a heart filled with gratitude and a mind filled with memories, I let the Meta board know that I will not stand for reelection this May," Sandberg wrote in a Facebook post on Wednesday. Sandberg, 54, joined Facebook in 2008 as Mark Zuckerberg's top deputy after spending about seven years at Google. Since leaving Meta, Sandberg has dedicated much of her time on her LeanIn.org nonprofit, which focuses on empowering women tin the workplace, and related projects. "Thank you Sheryl for the extraordinary contributions you have made to our company and community over the years," Zuckerberg wrote.

Persons: Sheryl Sandberg, Sandberg, Mark Zuckerberg's, Javier Olivan, We've, Sandberg's, Zuckerberg, Sheryl, Adam Bosworth, Peggy Alford, Marc Andreessen, Drew Houston, Nancy Killefer, Robert M, Tony Xu, Tracey T, Travis, Estée Lauder, Here's, Javi Olivan, Justin Osofsky, Nicola Mendelsohn, Mark Organizations: Meta, Facebook, Google, CNBC, McKinsey & Company, Estée Locations: U.S

☆ Meta CEO Mark Zuckerberg to be deposed in Texas facial recognition case
▼ + stars: | 2024-01-16 | by ( Jonathan Vanian | In | ) www.cnbc.com time to read: +2 min

Facebook co-founder and Meta CEO Mark Zuckerberg sits in his seat inside a bipartisan Artificial Intelligence Insight Forum for all U.S. senators hosted by Senate Majority Leader Chuck Schumer at the U.S. Capitol in Washington, D.C., on Sept. 13, 2023. Meta CEO Mark Zuckerberg must take part in a deposition as part of an ongoing lawsuit in Texas involving the company's facial recognition technology. In Tuesday's ruling, the state of Texas claimed that Zuckerberg has "had unique personal knowledge of discoverable information" that's relevant to its lawsuit, alleging that Meta violated state laws related to the collection of biometric data and deceptive trade practices. Meta settled a facial recognition-related class action lawsuit in 2021 for $650 million. WATCH: Three Buys and a Bail: Meta, Amazon, Microsoft and Apple

Persons: Mark Zuckerberg, Chuck Schumer, Jeff Rambin, Zuckerberg, Ken Paxton, Meta Organizations: Facebook, Intelligence, Senate, U.S, Capitol, Washington , D.C, Appeals, Texas, Meta, Texans, Microsoft, Apple Locations: Washington ,, Texas, Texas's

The Discord app is seen on an iPhone in this photo illustration in Warsaw, Poland, on April 3, 2021. Discord will lay off 17% of the company's workforce, which equates to 170 employees, a spokesperson confirmed Thursday. Discord, which ranked 18th on CNBC's Disruptor 50 list for 2023, was valued at about $15 billion in 2021 at the height of the tech boom. Layoffs have been a big story across the tech landscape since the calendar turned to 2024. WATCH: Google to lay off hundreds as big tech layoffs continue

Persons: Jason Citron, Bob Carrigan Organizations: Google, Unity Software Locations: Warsaw, Poland

☆ Trend Micro lays off 2% of its global workforce
▼ + stars: | 2024-01-09 | by ( Jonathan Vanian | In | ) www.cnbc.com time to read: +1 min

Trend Micro has laid off 2% of its overall workforce. "Trend Micro informed 2% of its worldwide team that their roles were eliminated," a spokesperson said in a statement. "This decision is in alignment with Trend Micro's business transformation and focus on customer expansion through our platform." In response to an analyst question in November about the company's declining headcount and if it has stopped shrinking its workforce, Trend Micro said, "we don't have a plan to actively increase the head count." Trend Micro joins a growing list of technology firms that have recently slashed jobs amid a challenging economy.

Organizations: Trend, Unity Software, Xerox

Search resuls for: "Jonathan Vanian"

25 mentions found