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Apple has frozen hiring for roles across corporate divisions at the tech giant, three sources tell Insider. The company has said it will be "deliberate" with recruiting but has not acknowledged halting hires in some departments. Since the summer, Apple has touted its "deliberate" decisions about investment and hiring, including on its most recent quarterly earnings call last week. But three sources with close knowledge of conversations at the company told Insider it has paused almost all hiring. The second source, who has knowledge of multiple high-level conversations inside Apple, agreed that it's experiencing a hiring freeze.
Netflix will report third-quarter earnings Tuesday, and all eyes are on its new ad-supported tier. Wall Street hopes that the streamer's Basic with Ads plan will boost subscriptions and revenue — but some analysts are skeptical. Complicating matters further, analysts at Wedbush Securities warned that the streamer may report hundreds of thousands of additional subscriber losses this quarter. A recent survey conducted by Samba TV with Harris X found that nearly half of current Netflix subscribers said they'd consider simply trading down their existing membership to the forthcoming cheaper service. While the service still counts more than 220 million overall subscribers, Netflix has blamed the losses on increased competition and account sharing.
Media experts say forays into ad-based streaming will influence content strategies at Netflix and Disney+. Netflix and Disney+ are readying services with ads to expand their appeal and revenue opportunities amid softening subscriber growth. Hollywood should pay close attention to what this may mean for selling shows and movies to the entertainment industry's dominant players. Ultimately, experts predicted, it will take at least a year or two for the influence of advertisers to be felt in the streamers' content mix. Do you work for an entertainment company like Netflix or Disney+?
High-profile hiring freezes in the tech industry raised alarms about the health of the job market. But career counselors at universities nationwide insist grads are still getting hired. For many new college grads, the summer's hazy afterglow of no more studying, exams, or group projects is counterbalanced with the pressure of the all-important job search. Insider interviewed a dozen college career counselors and undergraduate professors to get their takes on how the job market is holding up for recent grads. And amid volatility in the stock market, industry experts have predicted that layoffs are likely for some investment bankers.
Insider learned about the WADU system through interviews and leaked internal documents that explain what kinds of data it captures. Though the use of Palantir was reportedly for security purposes, JPMorgan employees who spoke to Bloomberg said the situation quickly escalated. When companies are opaque about how they use employee data, the consequences can be detrimental — from harming employee "engagement" to eroding their "mental health," Garr said. Companies that fail to do this run the risk of cultivating the kind of mistrust that JPMorgan employees claim is running rampant through their ranks. "It does not sit well with me, what they're doing," said the US-based staffer with direct knowledge of the WADU system.
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