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Nov 7 (Reuters) - Corporate America is cutting thousands of jobs to rein in costs amid tightening monetary policy and growing fears of a recession. Job cuts announced by U.S.-based employers jumped 13% to 33,843 in October, the highest since February 2021, a report said. Microsoft:Microsoft Corp (MSFT.O) laid off under 1,000 employees across several divisions this week, Axios reported, citing a source. However, Bloomberg on Sunday reported Twitter was reaching out to dozens of employees who lost their jobs, asking them to return. Chime:Online banking firm Chime has laid off 12% of its employees, or about 160 jobs, a spokesperson said.
DoorDash Inc (DASH.N):The food delivery firm, which enjoyed a growth surge during the pandemic, said it was reducing its corporate headcount by about 1,250 employees. Twitter Inc:The social media company laid off half its workforce across teams ranging from communications and content curation to product and engineering following Elon Musk's $44 billion takeover. Chime Financial Inc:The online banking firm has laid off 12% of its employees, or about 160 jobs, a spokesperson said. Coinbase Global (COIN.O):The cryptocurrency exchange said it planned to cut over 60 jobs, in its recruiting and institutional onboarding teams. CNN:Warner Bros Discovery-owned (WBD.O) CNN's top boss Chris Licht informed employees in an all-staff memo that job cuts were underway.
Twitter could be a new wild card for the midterms
  + stars: | 2022-11-07 | by ( Brian Fung | ) edition.cnn.com   time to read: +10 min
CNN Business —For years, Twitter has been a leader in countering misinformation and protecting elections. But concerns are growing that tumult inside Twitter in the first week after it was acquired by Elon Musk could weaken its safeguards for elections, just before the midterms are set to take place. Musk promised not to alter any of Twitter’s content policies until after the midterms. He tweeted: “Going forward, any Twitter handles engaging in impersonation without clearly specifying ‘parody’ will be permanently suspended,” and without warning. The shakeup at Twitter has turned the company itself into an election wildcard.
Some of those who are being asked to return were laid off by mistake. Twitter recently laid off 50% of its employees, including employees on the trust and safety team, the company's head of safety and integrity Yoel Roth said in a tweet earlier this week. Tweets by staff of the social media company said teams responsible for communications, content curation, human rights and machine learning ethics were among those gutted, as were some product and engineering teams. Twitter on Saturday updated its app in Apple's App Store to begin charging $8 for sought-after blue check verification marks, in Musk's first major revision of the social media platform. Reporting by Jaiveer Singh Shekhawat in Bengaluru; Editing by Lisa ShumakerOur Standards: The Thomson Reuters Trust Principles.
Andrew Haigh says he resigned from his job at Twitter to try to help co-workers keep their jobs. The former curation lead said it "wasn't an easy decision" to quit but that it was "the right one." Haigh left Twitter after his last day on Friday after spending more than six years at the company. Andrew Haigh tweeted on Friday that he resigned after more than six years at Twitter so that his co-workers might be able to "keep their jobs." Musk tweeted on Friday that he had "no choice" as Twitter was losing more than $4 million a day.
Twitter has laid off half its workforce including some responsible for content moderation. Yoel Roth, Twitter's head of safety and integrity, has downplayed these concerns. Many fear the prospect of far looser content moderation standards. Some say major cuts to Twitter's moderation teams could create ideal conditions for disinformation and hateful content ahead of Tuesday's midterm elections. Companies including General Motors, Pfizer, General Mills and Volkswagen have reportedly paused their advertising on Twitter following Musk's takeover.
The groups said on Friday they are escalating their pressure and demanding brands pull their Twitter ads globally. Staff who worked in engineering, communications, product, content curation and machine learning ethics were among those impacted by the layoffs, according to tweets from Twitter staff. Shannon Raj Singh, an attorney who was Twitter's acting head of human rights, tweeted on Friday that the entire human rights team at the company had been cut. Musk tweeted that his team had made no changes to content moderation and done "everything we could" to appease the groups. Employees of Twitter Blue, the premium subscription service that Musk is bolstering, were also let go.
Musk has said the company won’t allow anyone back on Twitter who was previously banned for at least a few more weeks. One current and two former employees were also concerned about a planned product that would allow Twitter users to buy verification badges. “Twitter isn’t prepared for that scale,” said one Twitter employee who survived Friday’s layoffs and asked to remain nameless because they were not authorized to speak publicly about internal company projects. The Twitter employee said that, as of the layoffs, the plan was that “there’s not going to be any verification of ID” to acquire a verification badge. “Now they’ve taken the brakes off the car.”One laid-off Twitter employee told NBC News that “the only saving grace is that he changes his mind on things all the time.”“There were some incredibly talented people who didn’t deserve this,” said a current Twitter employee.
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ArtGee have partnered with the crypto art marketplace SuperRare to launch their own virtual gallery. One such player operating in this growing NFT art space is ArtGee, which was founded jointly by people with expertise in blockchain currency, crypto art, and conventional fine art. One of SuperRare's main contributions to the crypto art market's development is through this quality control and its encouragement of art curation. It will examine the randomness found in blockchain technology, crypto art, and everyday life. The crypto art market is faced with many challenges, leaving many buyers to opt for a "wait and see" mentality, said Che; but NFT art also boasts an abundance of opportunities.
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Twitch's SVP of global creators Constance Knight has resigned from the livestreaming company. Her exit arrives amid an explosive week at Twitch that included a divisive change to its monetization model. Twitch's SVP of global creators Constance Knight is leaving the company, a Twitch spokesperson has confirmed to Insider. Knight joined Twitch in July 2021 from Instagram, where she formerly served as global head of content curation for short-form video. The move sparked backlash on Twitter among some top Twitch creators and former employees, with even former COO Sara Clemens seeming to disapprove of the changes.
DTC delivery startup FastAF offers rapid delivery of Shopify brands. The startup FastAF has discovered a secret weapon in surviving the volatile ultrafast-delivery space: Shopify stores. On Wednesday, FastAF added nationwide shipping, allowing shoppers to bundle items into one delivery in any market in the US. at a higher cost," Hnetinka told Insider this week. "It's really put us in a position of strength compared to the other guys who've got commoditized and undifferentiated products," Hnetinka said.
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Is Twitter ready for the midterms?
  + stars: | 2022-08-26 | by ( Clare Duffy | ) edition.cnn.com   time to read: +16 min
The disclosure alleges that Twitter is rife with security and privacy vulnerabilities that put users, investors and even US national security at risk, and that Twitter executives have misled its board and regulators about its shortcomings. Members of the US House Committee on Homeland Security on Thursday sent Twitter CEO Parag Agrawal a letter demanding that he address Zatko’s allegations and explain Twitter’s readiness for the 2022 midterms. In 2020, hackers tricked Twitter employees into handing over internal access that allowed them to take over the accounts of prominent figures such as former President Barack Obama and then-Presidential candidate Joe Biden. “Twitter employees were repeatedly found to be intentionally installing spyware on their work computers at the request of external organizations,” the disclosure states. Twitter’s employees use devices overseen by other IT and security teams with the power to prevent a device from connecting to sensitive internal systems if it is running outdated software, Twitter added.
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