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“Robinhood slashing workforce again” Retail trading platform Robinhood Markets said Tuesday it is laying off about 23% of its employees, sending its shares down more than 3% in extended trading. The company is also changing its organizational structure to “drive greater cost discipline,” Robinhood Chief Executive Officer Vlad Tenev said in a blog post. Robinhood had already slashed 9% of its workforce…
“Netflix orders second round of layoffs, streaming giant slumps” Netflix confirmed Thursday that it is conducting a second round of layoffs as the streaming giant grapples with a slump in paid subscribers and a painful drop in its stock price. A Netflix spokesperson said the company had “sadly let go of around 300 employees.” Company…
“Stephen Ross thinks recession will drive people back to office” Billionaire real estate tycoon Stephen Ross suggested Friday that a looming US economic recession could put an end to the work-from-home craze that swept the country during the pandemic. Ross, whose firm Related Cos. owns office space in New York and across the US, suggested…
“Elon Musk talks layoffs, aliens in Q&A with Twitter employees” Elon Musk staged a town hall meeting with Twitter employees on Thursday, answering questions on everything from layoffs and remote work to politics and aliens as he appeared to double down on his $44 billion commitment to take over the company. Asked about whether he…
“Warner Bros. Discovery reveals aggressive cost-cutting plan” Warner Bros. Discovery, owner of CNN, HBO Max, TLC and Food Network, is mounting an aggressive cost-cutting plan ahead of its promise to find more than $3 billion in savings in 2023. CEO David Zaslav has wasted no time since the $43 billion merger between Discovery and WarnerMedia…
“Elon Musk reacts to cryptocurrency selloff with ‘Cryptonight’” Billionaire and cryptocurrency superfan Elon Musk broke his silence on the recent collapse in digital asset prices — and responded to a meme revealing the next sector of the economy he expects to plunge. Musk reacted to the steep selloff in bitcoin, the largest cryptocurrency by market…
“Winklevoss twins’ Gemini slashes 10% of staff during crypto crash” Crypto winter is coming. The Winklevoss twins’ cryptocurrency trading hub Gemini is slashing staff for the first time since the firm was founded in the latest sign of turmoil related to the recent plunge in crypto prices. Cameron and Tyler Winklevoss – best known for…
“companies axe workers at highest rate since 2020” Technology companies in May axed employees at the highest rate in two years, as rising interest rates and a stock market selloff squeeze startups and Big Tech firms alike. Sixty-six tech firms handed out a whopping 16,800 pink slips last month. That’s more than the 13,600 layoffs…
“Bolt lays off staff as payments startup fights lawsuit from biggest customer” Embattled checkout payments startup Bolt on Wednesday became the latest tech startup to lay off employees in an increasingly brutal market. CEO Maju Kuruvilla broke the news in a note to employees, writing that the company is “reducing the size of our workforce…
“Delivery app Getir axing 14% of employees, NYC workers outraged” Rapid delivery app Getir said Wednesday that it plans to cut 14% of its global workforce — but gave employees no detail on who’s getting the ax, leaving New York City store and delivery workers anxious and angry. Getir CEO Nazım Salur broke the news…