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The fintech segment, which saw massive growth during the pandemic and immediately after, had a fairly rough 2024, ending with the abrupt shutdown — and then unexpected acquisition — of accounting startup Bench. Though the rapid pace of funding has slowed, some fintechs are continuing to see growth and expand their teams. In an effort…
The tech layoff wave is still going strong in 2024. Following significant workforce reductions in 2022 and 2023, this year has more than 130,000 job cuts across 457 companies, according to independent layoffs tracker Layoffs.fyi. Companies like Tesla, Amazon, Google, TikTok, Snap and Microsoft have conducted sizable layoffs in the first months of 2024. Smaller-sized…
Struggling EV startup Canoo says it has furloughed 82 employees and is idling its factory in Oklahoma while it grasps for the capital needed to survive. The company claims it is in “advanced discussions with various capital sources” to raise emergency funding. The announcement comes just a few days after board member James Chen resigned,…
The Mozilla Foundation, the non-profit arm of the Firefox browser maker Mozilla, has laid off 30% of its employees as the organization says it faces a “relentless onslaught of change.” When reached by TechCrunch, Mozilla Foundation’s communications chief Brandon Borrman confirmed the layoffs in an email. “The Mozilla Foundation is reorganizing teams to increase agility…
Welcome back to Week in Review. This week, we’re diving into the recent layoffs at Meta; the fallout from the battle between WordPress and WP Engine; and whether Cybertrucks are simply too big to exist in Europe. Let’s get into it. Multiple teams at Meta were hit by layoffs this week. The company confirmed the…
Qualcomm, which makes chips for smartphones, said it will lay off 226 workers in San Diego later this year, according to a California WARN notice published this week. The layoffs, which were first reported by the San Diego Union-Tribune, will take effect the week of November 12. The layoffs affect employees at 16 facilities across…
The Hill’s Morning Report — Debt-limit jockeying to intensify this week Editor’s note: The Hill’s Morning Report is our daily newsletter that dives deep into Washington’s agenda. To subscribe, click here or fill out the box below. Close Thank you for signing up! Subscribe to more newsletters here The latest in politics and policy. Direct…
“How Goldman Sachs laid off 3,000 workers in a day” Laid-off bankers are griping that Goldman Sachs used chilling, underhanded tactics as it mounted this week’s bloodbath that claimed more than 3,000 employees, The Post has learned. Insiders claim the Wall Street giant — whose Wednesday layoffs were dubbed “David’s Demolition Day” after CEO David…
“Coinbase CEO Brian Armstrong blames ‘unscrupulous actors’ for latest layoffs” Coinbase CEO Brian Armstrong appeared to blame disgraced FTX founder Sam Bankman-Fried after his struggling company announced another round of sweeping layoffs on Tuesday. Armstrong, an outspoken critic of Bankman-Fried, referenced recent upheaval in the cryptocurrency industry stemming from FTX’s collapse while confirming Coinbase has…
“Twitter content moderation employees are latest to face cuts” Cuts at Twitter under Elon Musk’s ownership aren’t over just yet, with employees responsible for global content moderation as well as those in the hate speech and harassment units among the latest layoffs, Bloomberg reported. At least a dozen cuts were made Friday night, affecting employees…