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☆ Trump's hush-money trial is set to heat up
▼ + stars: | 2024-04-19 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +7 min

In today's newsletter, we're looking at the first week of former President Donald Trump's criminal trial and what's at stake. What's on deck:This story is available exclusively to Business Insider subscribers. AdvertisementFormer President Donald Trump's hush-money trial — the first-ever criminal trial of a former president — got underway this week with jury selection . We did get a preview of Trump's potential defense: " Some accountant " handled the paperwork he's on trial for, Trump told reporters. AdvertisementThe trial is focused on 34 felonies alleging the Trump Organization's business records were falsified to hide other crimes.

Persons: —, Donald Trump's, CHARLY TRIBALLEAU, Drew Angerer, Tyler Le, Trump, Stormy Daniels, Daniels, Zelei, Loretta Mester, John Williams, Rebecca Zisser, David Lieb, Sundar Pichai, Demis, Google's, BI's Ben Bergman, Eddie Mulholland, Alyssa Powell, Samsung execs, Taylor Swift's, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, George Glover Organizations: Service, Business, Getty, Trump, Cleveland Fed, York Fed, …, Bank of America, Google, Android, Bankers, Jefferies, Investor Conference, Samsung, Korea Economic, Disney, Warner Bros, American Express, Procter, Gamble, Poets Department Locations: Israeli, Iran, Israel, Florida, Korea, New York, London

☆ Meta's Facebook Messenger hit with layoffs amid ongoing 'efficiency' push
▼ + stars: | 2024-03-06 | by ( Kali Hays | Hugh Langley | ) www.businessinsider.com time to read: +1 min

Meta's ongoing efficiency drive has resulted in another round of layoffs. Messenger, the popular Facebook app, was hit this week with cuts. Messenger, the popular direct messaging app within Facebook, was hit with a round of layoffs this week, according to two people familiar with the company. The cuts at Messenger come after a similar layoff affected some employees working at Instagram, as Business Insider reported. This story is available exclusively to Business Insider subscribers.

Persons: —, Instagram, Messenger Organizations: Service, Meta, Facebook, Business, BI Locations: Instagram, Meta

☆ Layoff angst looms over Meta employees as they face tough performance reviews and ongoing reorgs
▼ + stars: | 2024-03-05 | by ( Kali Hays | ) www.businessinsider.com time to read: +4 min

A tough annual performance review season at Meta and a newly permanent state of "efficiency" has some workers preparing for the worst. The company's months-long process of evaluating individual employee performance for 2023 is wrapping up this week, with tens of thousands of workers receiving feedback from Meta managers. The company recently told employees that their bonuses would be increased due to the company's financial performance over the last year. Advertisement"Meta has always done a lot of reorgs, moving people around, eliminating teams," a third person familiar with the company said. An employee previously told BI that employees deemed to have subpar performance "will be pushed out, one way or another."

Persons: Mark Zuckerberg, Zuckerberg, Meta, Kali Hays Organizations: Service, Meta, Business, Big Tech, Reality Labs Locations: Meta, Instagram, khays@insider.com

☆ AI fatigue, sales challenges, and the problem of getting big: Inside growing tension at AWS
▼ + stars: | 2023-11-29 | by ( Eugene Kim | ) www.businessinsider.com time to read: +14 min

For Amazon, AWS is more important than ever. Targets missedAWS is falling short of reaching sales goals in its startups and small-business segments, two employees told BI. Burnout and attritionSeveral AWS employees also pointed to high turnover as a major point of concern. AWS employees told BI it still remains to be seen how all these changes will manifest in the months to come. "The most significant single sentiment we feel is uncertainty," one of the AWS employees told BI.

Persons: Matt Garman, Garman, Mark Shmulik, Bernstein, Rob Munoz, Munoz, Charlie Bell, Rachel Thornton, Chris Vonderhaar, Peter DeSantis, DeSantis, Andy Jassy Mike Blake, AWS's, Prasad Kalyanaraman, Kalyanaraman, Amazon's, Bard, Adam Selipsky, Adam Selipsky Noah Berger, Selipsky, Andy Jassy, Jeff Bezos, Jassy, Geekwire Organizations: Amazon Web, AWS, Business, Amazon, SMB, Enterprise, Reuters, Microsoft, Google, BI Locations: Las Vegas, AMZN's, billings

☆ Ex-Shopify and Deliverr workers say layoffs, compensation issues at Flexport capped a 15-month rollercoaster: 'Honestly a bit relieved that it's over'
▼ + stars: | 2023-10-23 | by ( Madeline Stone | ) www.businessinsider.com time to read: +5 min

Former Deliverr and Shopify employees told Insider last week's layoffs at Flexport capped the end of a multiyear rollercoaster marked by multiple complicated acquisitions and integrations, compensation issues, and culture clashes. The integration of the Shopify Logistics team into Flexport had been rocky, five employees said. When Shopify completed its acquisition of Deliverr in July 2022, employees' equity converted to Shopify stock on a one-to-one basis. This person added that the conversion from public stock to RSUs meant that the value of their Flexport equity was less than they expected. The structure allows Shopify employees to decide the percentage of their compensation they want to be made up of cash and how much of stock.

Persons: Flexport, Shopify, vesting, Severance, Ryan Petersen, Constant, Dave Clark, Petersen, Clark, Madeline Stone Organizations: Flexport, Shopify Logistics, Deliverr, Employees, US, Shopify Locations: Flexport's, Shopify, Deliverr, Flexport, reorgs, Amazon, mstone@insider.com

☆ Insider Today: Big banks are screwed
▼ + stars: | 2023-09-14 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +8 min

It's the latest example of the pressure big banks are under to keep their place atop Wall Street. Before the announcement, the bank's share price was down almost 9% this year, trailing all of its fellow big bank peers in the US except Bank of America. Citi's overhaul represents how big banks are scrambling to stay on top of a financial world passing them by. CEO Jamie Dimon recently quipped he "wouldn't be a big buyer of a bank" in reference to proposed regulations requiring big banks to keep more money on the sidelines. Whether it's fintechs or so-called shadow banks, there's no shortage of players looking to offer services previously dominated by big banks.

Persons: that'll, isn't, Mike Kemp, Insider's Jennifer Sor, Jane Fraser, Fraser, Fraser isn't, she's, Michael Corbat, Citi's reorg, Goldman Sachs, David Solomon, Rebecca Ungarino, Wells, Charlie Scharf, JPMorgan — isn't, Jamie Dimon, it's, Robert Nickelsberg, Morgan Stanley, — isn't, Arantza Pena Popo, Nicole Zaridze, Elon Musk, Post Malone, —, Hunter Biden, Garrett Ziegler, Paul Morigi, Biden's, Joey Hadden, I've, Dan DeFrancesco, Naga Siu, Hallam Bullock, Lisa Ryan Organizations: Service, Citigroup, Getty, Bank of America, JPMorgan, Independence, Apple, Post, SEC, Trump, Wikimedia, Motors, Ford, Nintendo Locations: Wall, Silicon, Seattle, New York City, China, Boxabl, Michigan, San Diego, London, New York

☆ Leaked audio reveals deeper cuts at Robinhood as its engineering boss exits
▼ + stars: | 2023-07-20 | by ( Ashley Stewart | ) www.businessinsider.com time to read: +2 min

Robinhood's head of engineering Surabhi Gupta is leaving the company, Insider has learned. Robinhood last month laid off 150 full-time employees but leaked meeting audio reveals wider cuts. The company has also made cuts through "reorgs," among teams like recruiting, engineering, and data science. Robinhood's head of engineering is leaving the company, Insider has learned, the latest tech leader to depart amid deeper-than-reported cuts to its workforce, according to internal memos and audio of an all-hands meeting. The layoff was widely reported, but audio of an all-hands meeting reviewed by Insider show ongoing cuts have been deeper.

Persons: Gupta, Robinhood, Surabhi Gupta, Jesper Johansson, Johansson, Surabhi, Jason Warnick, Warnick Organizations: LinkedIn

☆ I was laid off from LinkedIn and it stunned me. Here's how I got through the next 48 hours.
▼ + stars: | 2023-05-12 | by ( Arthi Raghu | ) www.businessinsider.com time to read: +8 min

Arthi Raghu is a former sales development leader at LinkedIn and part-time yoga instructor. I've now had 48 hours to process the news (and my emotions), and I wanted to share what's helped me feel grounded again. On a personal front, I'm going to enjoy a little downtime before my days get filled with Zoom meetings again. I'm going to write as much as I can and spend some much needed time with the people I love. Arthi Raghu is a former sales development leader at LinkedIn, part-time yoga instructor, certified mindset coach, and avid marathon runner.

☆ Interview: Amazon Web Services cofounder Charlie Bell dishes on why he moved to Microsoft, how he met Satya Nadella, and if he'll ever work on Azure
▼ + stars: | 2023-05-03 | by ( Ashley Stewart | ) www.businessinsider.com time to read: +9 min

Amazon Web Services cofounder Charlie Bell left in 2021 for a job at Microsoft. Many in the industry, including current and former Microsoft and Amazon executives, wonder whether there's a better job for Bell. In a rare interview with Insider, Bell discussed why he left Amazon, how he met Microsoft CEO Satya Nadella, and whether he'll ever work on Azure. Wind the clock back to January of 2021, Jeff (Bezos) came to us and said, "Hey, I'm going to retire." The more I thought about it, the more I thought, "Well, Microsoft might be the place to do it."

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