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☆ Zoom is cutting about 150 jobs, or close to 2% of its workforce
▼ + stars: | 2024-02-01 | by ( Ashley Capoot | In | ) www.cnbc.com time to read: +2 min

Zoom CEO Eric Yuan speaks at the Dropbox Work In Progress Conference in San Francisco on Sept. 25, 2019. Zoom is cutting about 150 jobs, CNBC confirmed on Thursday, the latest tech company to slash headcount this year as investors continue to push for efficiency. A Zoom spokesperson confirmed the cuts amount to less than 2% of the company's workforce. In addition to Zoom, cloud software vendor Okta announced a downsizing on Thursday, telling employees that it's laying off 400 staffers, or about 7% of its workforce. Zoom shares are down about 10% this year and have dropped almost 90% from their record high in October 2020.

Persons: Eric Yuan, Zoom Organizations: Conference, CNBC, Bloomberg, Microsoft, Google, MGM Studios, Okta Locations: San Francisco, layoffs.fyi

☆ Amazon set to report fourth-quarter earnings after the bell
▼ + stars: | 2024-02-01 | by ( Annie Palmer | In Annierpalmer | ) www.cnbc.com time to read: +4 min

Amazon is slated to report fourth-quarter earnings Thursday after the closing bell. In January, Amazon said it would let go of employees across units including Prime Video, MGM Studios, Twitch, Audible and Buy with Prime. In November, Amazon launched "Q," an AI chatbot for businesses, as well as new Trainium chips for AI applications. Discovery 's Max by introducing ads to Prime Video programming. Amazon will discuss the report on a conference call with analysts at 5:30 p.m.

Persons: Andy Jassy, Amazon, Evercore, Jassy's, Brian Olsavsky, Max Organizations: Web, Amazon, MGM Studios, Revenue, National Retail Federation, Netflix, Disney, Hulu, Warner Bros, Citi Locations: Ukraine

☆ Why was a revolting YouTube video of a purported decapitated head left online for hours?
▼ + stars: | 2024-01-31 | by ( David Goldman | ) edition.cnn.com time to read: +4 min

New York CNN —A disturbing video of a man holding what he claimed was his father’s decapitated head circulated for hours on YouTube. The incident is one of countless examples of gruesome and often horrifying content that circulates on social media with no filter. The horrifying decapitation video was published hours before major tech CEOs are headed to Capitol Hill for a hearing on child safety and social media. Our teams are closely tracking to remove any re-uploads of the video.”But online platforms are having difficulty keeping up. Advocates say that tech platforms can no longer be left to self-regulate.

Persons: Taylor Swift, Sundar Pichai, Justin Mohn’s, they’re, Elon Musk, YouTube haven’t, they’ve, ”, Josh Golin, James Steyer, Steyer Organizations: New, New York CNN, Facebook, Capitol, YouTube, Elon, Amazon, Microsoft, Big Tech Locations: New York

Tech giants are set to report quarterly earnings, starting on Tuesday with Alphabet and Microsoft. Wall Street is expecting good news, including more progress on artificial intelligence. The cuts aren’t as widespread as last year, when hundreds of thousands of jobs were eliminated. About 100 companies have cut 25,000 positions this year, according to Layoffs.fyi. By comparison, more than 1,000 companies eliminated about 260,000 last year.

Organizations: Tech, Microsoft, Activision Blizzard, Google

☆ Wall Street analysts touted 5 portfolio stocks this week. Here’s our call on each name
▼ + stars: | 2024-01-27 | by ( Morgan Chittum | ) www.cnbc.com time to read: +7 min

In turn, Wall Street analysts made a slew of bullish calls on five of our portfolio names — all of which report earnings next week SBUX YTD mountain Starbucks (SBUX) year-to-date performance Wall Street's call: Wells Fargo forecasted an improved backdrop for Starbucks. Although the stock's been a portfolio laggard, we're bullish on management's plans to progressively expand margins in the years to come. MSFT YTD mountain Microsoft (MSFT) performance year-to-date Wall Street's call: Morgan Stanley boosted Microsoft's price target to $450 per share from $415, citing the company's strength from generative artificial intelligence efforts. Analysts issued a slew of downbeat calls at the start of 2024, causing the stock to sell off. AMZN YTD mountain Amazon (AMZN) year-to-date performance Wall Street call: Jefferies said Amazon stock has even more room to run after a great 2023.

Persons: Wells Fargo, we're, Morgan Stanley, Goldman Sachs, refreshes, Jefferies, AMZN, Twitch, they're, Jim Cramer's, Jim Cramer, Jim, Brendan Mcdermid Organizations: Dow Jones, Wall Street, Club, Microsoft, Big Tech, Bank of America's, Apple, Analysts, MGM Studios, Management, Bank of America, CNBC, Traders, New York Stock Exchange Locations: Fargo, China, Tuesday's, Copilot, F1Q24E, Thursday's, New York City, U.S

☆ It’s not just Taylor Swift: AI-generated porn is targeting women and kids all over the world
▼ + stars: | 2024-01-26 | by ( Samantha Murphy Kelly | ) edition.cnn.com time to read: +8 min

It affects everybody.”But while the practice isn’t new, Swift being targeted could bring more attention to the growing issues around AI-generated imagery. Her enormous contingent of loyal “Swifties” expressed their outrage on social media this week, bringing the issue to the forefront. … It’s a reckoning moment.”‘Nefarious reasons without enough guardrails’The fake images of Taylor Swift predominantly spread on social media site X, previously known as Twitter. Although it reportedly took 17 hours for X to take down the photos, many manipulated images remain posted on social media sites. Other social media companies also have reduced their content moderations teams.

Persons: megastar Taylor Swift, “ It’s, ”, Danielle Citron, “, We’ve, Swift, “ Swifties ”, Taylor Swift, ” Citron, …, there’s, Ben Decker, Decker, Karine Jean, Pierre, Francesca Mani, Raymond González, Anita ”, David Jones, Jones, Betsy Kline Organizations: CNN, University of Virginia School of Law, Ticketmaster, Twitter, Meta, White, Westfield High School, Westfield, Communications Locations: New Jersey, Spain, unmoderated

A bunch of companies in the technology sector have been laying off some of their employees recently after quickly ramping up hiring during the COVID-19 pandemic while people spent more time and money online. Now, many of them are making job cuts to help lower costs and bolster their bottom lines. Here's some of the companies that have laid of employees of late:GoogleGoogle said it was laying off hundreds of employees working on its hardware, voice assistance and engineering teams. The company, which is owned by Chinese technology giant Tencent, said 530 jobs were being eliminated, accounting for about 11% of its headcount. AmazonTwitch, which is owned by Amazon, is cutting more than 500 jobs in a bid to save on costs.

Persons: TikTok TikTok, Dan Clancy, Bob Carrigan Organizations: Google Google, Google, Riot Games, “ League, Games, eBay, eBay Inc, Amazon, Amazon’s, MGM Studios, Spotify Locations: Los Angeles , California, Beijing

☆ eBay is laying off 1,000 employees — about 9% of its workforce. Read the memo its CEO sent to staff.
▼ + stars: | 2024-01-24 | by ( Jyoti Mann | ) www.businessinsider.com time to read: +1 min

eBay is cutting 1,000 jobs — a reduction of about 9% of its workforce. CEO Jamie Iannone told employees in a memo Tuesday that it would make the latest round of layoffs so it could be "more nimble." Iannone pointed to its expenses and headcount eclipsing the growth of its business in the memo shared on the company website. While we are making progress against our strategy, our overall headcount and expenses have outpaced the growth of our business." Read the full memo the CEO sent to employees below.

Persons: Jamie Iannone, Iannone Organizations: Service, eBay, Google, Amazon, Prime, MGM Studios

☆ TECH'S JOB-CUTS JANUARY
▼ + stars: | 2024-01-24 | by ( Sarah Jackson | ) www.businessinsider.com time to read: +3 min

download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . But by the third week of the month, layoffs had become a reality for many in tech. More than 70 tech companies have swung the ax so far this year, affecting more than 13,000 workers, according to tracker Layoffs.fyi. January is historically a common month for layoffs as companies adjust budgets and plans for a new year. In January 2023, more than 270 tech companies laid off nearly 90,000 employees, according to Layoffs.fyi.

Persons: —, Sundar Pichai, Dan Clancy, it's, Jason Citron Organizations: Industry, Google, Service, Tech, Workers, Prime, Amazon MGM Studios, YouTube, eBay Locations: TikTok, overhiring

LONDON (AP) — Online retailer eBay Inc. will cut about 1,000 jobs, or an estimated 9% of its full-time workforce, saying its number of employees and costs have exceeded how much the business is growing in a slowing economy. It marks the latest layoffs in the tech industry. Political Cartoons View All 253 ImagesSan Jose, California-based eBay is the latest tech company to roll out a series of layoffs after quickly ramping up hiring during the COVID-19 pandemic while people spent more time and money online. Meanwhile, Amazon said this month that it is cutting several hundred jobs in its Prime Video and MGM Studios unit. Other tech companies, including Spotify, Microsoft, Meta and IBM, also have recently cut jobs.

Persons: Jamie Iannone, Iannone, ”, TikTok, Amazon, ” Iannone Organizations: —, eBay Inc, eBay, Google, Riot Games, “ League, MGM Studios, Spotify, Microsoft, Meta, IBM, Justice Department Locations: Jose , California, Massachusetts

☆ eBay is laying off 1,000 employees, about 9% of its staff
▼ + stars: | 2024-01-23 | by ( Ramishah Maruf | ) edition.cnn.com time to read: +2 min

New York CNN —eBay is cutting 1,000 roles, about 9% of its full-time employees, the company’s CEO announced online Tuesday. CEO Jamie Iannone cited the “challenging macroeconomic environment” as an external pressure but added that there are factors the company can control. “We’re committed to treating everyone with respect and empathy through this transition and providing impacted employees with support and resources,” Iannone said. The eBay action is the latest round of layoffs to hit the tech industry in the first month of 2024, after an already difficult 2023 for the sector. Almost 11,000 tech employees have been laid off at 63 companies so far in 2024, according to data from layoffs.fyi.

Persons: Jamie Iannone, Iannone, ”, “ We’re, ” Iannone, Sundar Pichai, ” Duolingo, Brian Fung, Jennifer Korn, Clare Duffy, Catherine Thorbecke Organizations: New, New York CNN, eBay, Google Locations: New York, layoffs.fyi

☆ Tencent’s Riot Games lays off 11% of staff globally, adding to job cuts in US tech sector
▼ + stars: | 2024-01-23 | by ( Michelle Toh | ) edition.cnn.com time to read: +3 min

Hong Kong CNN —Riot Games, the developer of hit video games like “League of Legends” and “Valorant,” is cutting 11% of staff around the world, becoming the latest tech company to downsize. In the first two weeks of 2024 alone, more than 5,500 layoffs were announced at Google, Amazon and other prominent tech employers. Riot relied on the game’s massive success for about a decade, leading to calls for the company to diversify its business. On Tuesday, China’s gaming regulator made headlines by removing draft rules from its website that had aimed to rein in spending in online video games. Shares of Tencent and Chinese rival NetEase each rose 4.6% and 6.5% in Hong Kong, respectively, on Tuesday following the news.

Persons: “, hadn’t, Dylan Jadeja, Twitch, ”, Marc Merrill, Jadeja, ” Tencent Organizations: Hong Kong CNN — Riot, “, Google, Amazon, Tencent, CNN, “ League, National Press, Reuters Locations: Hong Kong, Los Angeles, Shenzhen, China, we’re

☆ Amazon's latest layoffs hit its Buy with Prime unit
▼ + stars: | 2024-01-18 | by ( Annie Palmer | In Annierpalmer | ) www.cnbc.com time to read: +2 min

Amazon is laying off about 30 employees in its Buy with Prime unit, CNBC has learned, as it continues to look for ways to trim costs. The cuts affect fewer than 5% of staff in the Buy with Prime division, Amazon said. Buy with Prime is a service that lets online stores offer the same two-day shipping benefits available to Prime subscribers. Amazon said it's assisting Buy with Prime employees who were laid off in finding new roles elsewhere within the company. WATCH: Amazon lays off hundreds of roles across Twitch, Prime Video and MGM Studios

Persons: we've, Santos, Peter Larsen, Amazon Organizations: CNBC, Amazon, Prime, MGM, Google, Xerox, Unity, Employees, MGM Studios

☆ YouTube shorts won influencer marketers' attention in 2023 with a 700% spending boost as investment in short-form content climbed
▼ + stars: | 2024-01-17 | by ( Marta Biino | ) www.businessinsider.com time to read: +4 min

Short-form video dominated . Brands are investing more in short-form content on YouTube, and creators are starting to see returns. A variety of brands have invested in creator partnerships on YouTube shorts, CreatorIQ data showed. Categories like beauty and fashion — brands like Milani, E.l.f., Nyx, Shein, and Aritzia — also spent more on YouTube shorts. "While long-form beauty and fashion tutorials remain a YouTube staple, their popularity is waning as Gen Z prioritizes short-form video content."

Persons: —, Red Bull, Instagram, I've, Jade Beason, Beason, she's, Alasdair Mann, Logan Paul, Aritzia —, Alexander Rawitz, Z, Mann Organizations: Service, YouTube, Business, Unilever, Brands, NFL Locations: Red

☆ Top streamer Amouranth warns women not to start an OnlyFans: 'It's not good for you'
▼ + stars: | 2024-01-16 | by ( Lindsay Dodgson | ) www.businessinsider.com time to read: +3 min

Read previewAmouranth, one of the top streamers in the world, said she did not recommend women start doing OnlyFans in a recent stream. This story is available exclusively to Business Insider subscribers. One former OnlyFans creator told Business Insider in an interview that she was left traumatized after starting her page at age 18. Optimus said it was "tempting" to start an OnlyFans page. "I would never recommend girls to start an OnlyFans.

Persons: —, OnlyFans, Kaitlyn Siragusa, Optimus, Siragusa, they're, it's, She's, Twitch Organizations: Service, Business

☆ Google staff sound off about 'corporate overlords,' impersonal layoffs, and a changing company culture, report says
▼ + stars: | 2024-01-15 | by ( Beatrice Nolan | ) www.businessinsider.com time to read: +2 min

Read previewIt's just days since Google employees were hit by another round of layoffs. This story is available exclusively to Business Insider subscribers. However, CEO Sundar Pichai has yet to address the new round of layoffs internally, a report by The Verge's Command Line said. The poorly explained job cuts have left some employees disgruntled and lashing out against management. The popular post, which referenced Google's last round of job cuts, read: "Thank you, our corporate overlords, for our new annual tradition."

Persons: —, Sundar Pichai, we've Organizations: Service, Google, Business, Verge's, Amazon

☆ After big tech layoffs, Silicon Valley may have lost its monopoly on workers
▼ + stars: | 2024-01-14 | by ( Rachel Curry | ) www.cnbc.com time to read: +6 min

According to Dice's 2023 Tech Sentiment Report, 60% of tech workers in general are interested in leaving their jobs in 2024, which is up from 52% the year prior. According to Art Zeile, CEO of tech careers marketplace Dice, tech workers are most in demand in the aerospace, consulting, health care, financial services and education industries. Zeile says it's in spaces like these — non-tech enterprises with major tech branches — that tech workers can find better work-life balance and more stability than the tech leaders can provide. In corporate America outside of big tech, he said, "There is more of a dedication to making sure that the project gets fulfilled." Tech job growth geographicallyUltimately, Zeile says recent layoffs have induced a jarring disruption in two decades of growth in big tech.

Persons: Justin Sullivan, Jeff Spector, Spector, I'm, CBRE, Art Zeile, Zeile Organizations: Google, Tech, Meta, Microsoft, MGM Studios Locations: Mountain View , California, Silicon Valley, Seattle, America, India

☆ Amazon employees fear increased 'quiet firing' tactics and a 'brain drain'
▼ + stars: | 2024-01-13 | by ( Eugene Kim | Ashley Stewart | ) www.businessinsider.com time to read: +9 min

Silent sacking, Garrison told BI, "is how Amazon is going to reduce operational costs without negatively affecting the stock price. Some Amazon employees recently took to Slack to announce their resignations specifically over the return-to-hub policy. Another AWS employee told BI they feel like they are "doing the job of three people." Any suggestion to the contrary is untrue," the Amazon spokesperson said. Are you an Amazon employee or do you have insight to share?

Persons: they're, Justin Garrison, Garrison, wasn't, URA, hasn't, that's, Slack, RTO, we'd, They've Organizations: Service, Amazon, Business, BI, Amazon Web Services

☆ As Amazon, Citigroup and Google open 2024 with layoffs, experts say unemployed workers should take these steps
▼ + stars: | 2024-01-12 | by ( Lorie Konish | ) www.cnbc.com time to read: +4 min

Jackyenjoyphotography | Moment | Getty ImagesThe start of 2024 has not been kind to workers in industries that opened the year with layoffs. Recent U.S. Department of Labor data shows layoffs have been hovering near historic lows — and experts say getting laid off no longer has the same stigma it once did. The following steps can help you shore up your finances and kick-start your job search. Calculate severance pay, unused time offYou may receive a severance package from your employer or get paid for unused time off. If you're able to find a new job quickly, you may be able to bank the severance pay, he noted.

Persons: Twitch, Scott Dobroski, Ted Jenkin, Atlanta . Jenkin, Vicki Salemi, Salemi, Jenkin, Dobroski, We've Organizations: Google, MGM Studios, Tech, Citigroup, U.S . Department of Labor, CNBC, Finance Locations: Atlanta .

☆ Leaked email shows Amazon is slashing jobs in its Audible division, following job cuts at other teams
▼ + stars: | 2024-01-11 | by ( Eugene Kim | ) www.businessinsider.com time to read: +5 min

Amazon is cutting 5% of the workforce at its Audible division, according to an internal email obtained by Business Insider. On Thursday, Audible's CEO Bob Carrigan wrote an email to his team notifying the "tough decision to reduce roles within our organization," the email said. The job cuts follow broader layoffs at other parts of Amazon this week. Internal messages suggest more job cuts in Amazon Pay and marketing roles, as BI previously reported . Amazon acquired Audible, which provides audiobooks and podcasts, for roughly $300 million in 2008.

Persons: Bob Carrigan, Carrigan, we've, It's, Eugene Kim Organizations: Service, Business, Amazon, MGM Studios, Pay, Global

☆ Google is laying off staff who work on some of its most recognizable products
▼ + stars: | 2024-01-11 | by ( Brian Fung | ) edition.cnn.com time to read: +2 min

The layoffs include hundreds of employees who work on some of the company’s most recognizable products, including Google Assistant, the voice-activated software that helps users check the weather, set timers and quickly look up facts. The Google Assistant layoffs are at least partly driven by a shift in focus toward artificial intelligence, Google said, amid plans to more deeply integrate the company’s latest AI models into its products. Google is working to find other roles for some of the affected employees amid the restructuring, the company said. “We’re responsibly investing in our company’s biggest priorities and the significant opportunities ahead,” a Google spokesperson said in a statement. The layoffs were earlier reported by Semafor and 9to5 Google, which also reported that Fitbit co-founders James Park and Eric Friedman are departing Google as part of this week’s changes.

Persons: “, ”, Semafor, Fitbit, James Park, Eric Friedman Organizations: Washington CNN, Google, CNN

☆ Amazon's Audible unit lays off about 5% of staff
▼ + stars: | 2024-01-11 | by ( Annie Palmer | In Annierpalmer | ) www.cnbc.com time to read: +3 min

The Audible application is displayed on a smartphone in an arranged photograph taken in Arlington, Virginia, on May 21, 2020. Amazon 's Audible division is cutting approximately 5% of its staff in an effort to position the unit "for continued success," the executive overseeing the division told employees Thursday. The announced cuts follow the layoffs on Wednesday of hundreds of employees in Amazon's Prime Video, MGM Studios and Twitch livestreaming units. The unit has remained largely independent since the deal but is not immune to broader cuts underway at its parent. We are well positioned to continue our momentum and sustain the global growth that will keep us the leader in audio storytelling.

Persons: Bob Carrigan, we've, It's Organizations: Amazon's, MGM Studios, CNBC, Amazon, Global Locations: Arlington , Virginia

☆ Amazon is laying off 'several hundred' employees across Prime Video and Amazon MGM Studios — read the memo
▼ + stars: | 2024-01-10 | by ( Lucia Moses | Kylie Kirschner | ) www.businessinsider.com time to read: +5 min

The company is laying off "several hundred" employees across Prime Video and Amazon MGM studios. "As a result of these decisions, we will be eliminating several hundred roles across the Prime Video and Amazon MGM Studios organization." In April 2023, Amazon Studios (now Amazon MGM Studios) and Prime Video teams cut about 100 people — a tiny fraction of Amazon's 27,000 layoffs last year. As a result of these decisions, we will be eliminating several hundred roles across the Prime Video and Amazon MGM Studios organization. Prime Video is one of the most popular benefits for Prime members, and one of most widely used entertainment destinations in the world.

Persons: Mike Hopkins, Hopkins, Amazon's, Jen Salke, Freevee, We've, we've, Amazonians who've, Mike Organizations: Service, Prime, MGM, Amazon MGM Studios, Business, Hollywood Reporter, Bloomberg, Hollywood, Amazon Studios Locations: Americas, Hollywood

☆ Amazon will cut hundreds of jobs, including at game streaming firm Twitch
▼ + stars: | 2024-01-10 | by ( Clare Duffy | Ramishah Maruf | ) edition.cnn.com time to read: +3 min

New York CNN —Amazon on Wednesday cut hundreds of jobs across two different business units: streaming platform Twitch and its film and television studios division. Amazon is cutting “several hundred” roles across Prime Video and Amazon MGM Studios, according to an internal note shared with CNN. In addition, video game streaming company Twitch, which is owned by the tech giant, said Wednesday it is laying off 500 workers as part of ongoing cost-cutting efforts. Wednesday’s announcement comes after Twitch laid off 400 workers in March of last year as part of broader cuts at parent company Amazon. The layoffs point to ongoing challenges at Twitch, although Amazon does not break out specific results for the unit.

Persons: Mike Hopkins, “, ”, Hopkins, Dan Clancy, Twitch, we’ve, ” Clancy, Clancy, Dataminr Organizations: New, New York CNN, Amazon, Amazon MGM Studios, CNN, MGM, Amazon Prime, Bloomberg, Google, Spotify Locations: New York

☆ Amazon lays off more than 500 employees in its Twitch unit
▼ + stars: | 2024-01-10 | by ( Annie Palmer | In Annierpalmer | ) www.cnbc.com time to read: +5 min

Last March, Twitch let go of roughly 400 staffers, and it cut some employees in its customer experience division last October. Amazon has undergone the largest layoffs in its history, cutting 27,000 employees since 2022. The cuts have been ongoing, with Amazon announcing layoffs in its Prime Video and MGM Studios units on Wednesday. So while the Twitch business remains strong, for some time now the organization has been sized based upon where we optimistically expect our business to be in 3 or more years, not where we're at today. If your role is affected by this decision and you live in the US, Canada, Brazil, Mexico, or Singapore.

Persons: Twitch, Emmett Shear, Clancy, Doug Scott, Laura Lee, we've, you've, Lauren Nunes, Dan Organizations: Amazon, MGM Studios, Clancy, Team Locations: Canada, Brazil, Mexico, Singapore, Twitch

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