IDD

Nearly half of Meta job cuts were in tech, reorg underway – execs say

OAKLAND, Calif., November 11 (Reuters) – Meta Platforms, owner of Facebook (META.O) told employees on Friday it would stop developing smart displays and smartwatches and that nearly half of the 11,000 jobs it cut this week as part of unprecedented cost-cutting were in tech roles . Speaking at a public employee meeting heard by Reuters, …

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Twitter restores ‘official’ label; $8 blue check mark option vanishes

November 11 (Reuters) – Elon Musk’s Twitter Inc brought back the “official” badge to some accounts on Friday, just days after removing it, while several users reported that the new subscription option for the tick mark of blue check was gone. The move follows a rise in fake accounts on the platform after new boss …

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Musk warns of Twitter bankruptcy as more senior executives quit

November 10 (Reuters) – New owner of Twitter Inc, Elon Musk, on Thursday raised the possibility of the social media platform going bankrupt, capping a chaotic day that included a warning from a U.S. privacy regulator and the exit from the leader in enterprise trust and security. The billionaire in his first mass call with …

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Exclusive: Behind FTX’s fall, battling billionaires and a failed bid to save crypto

November 10 (Reuters) – (This story contains language that some readers may find offensive in paragraph 2) On Tuesday morning, Sam Bankman-Fried, owner of cryptocurrency exchange FTX, caught his employees off guard with a grim message. “I’m sorry,” he told them. “I screwed up.” The reason for the mea culpa: its announcement half an hour …

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Twitter lays off staff as Musk blames activists for ‘massive’ ad revenue drop

Musk seeks to lay off about half of Twitter’s workforce Employees file class action lawsuit against Twitter Staff lose access to systems Volkswagen removes ads Nov 4 (Reuters) – Twitter Inc began a major round of layoffs on Friday, alerting employees to their status via email after barring entry to offices and cutting off workers’ …

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Chinese cities brace for wave of Foxconn workers from COVID-hit Zhengzhou

BEIJING, Oct 30 (Reuters) – Cities in central China have hastily drawn up plans to isolate migrant workers fleeing to their hometown from a sprawling assembly plant at iPhone maker Foxconn (2317.TW) in COVID-hit Zhengzhou, fearing they could trigger coronavirus outbreaks. Zhengzhou, capital of central Henan province, reported 167 locally transmitted COVID-19 cases in the …

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Musk fired Twitter execs in attempt to avoid payouts, layoffs planned – reports

October 29 (Reuters) – Twitter (TWTR.N) new owner Elon Musk has laid off senior executives in a bid to avoid hefty severance packages, while lining up other layoffs as early as Saturday to avoid stock awards due Nov. 1, media reported Saturday. Musk has fired Twitter chief executive Parag Agrawal, chief financial officer Ned Segal …

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Musk begins his Twitter ownership with firings, declares the ‘bird is freed’

Musk says ‘the bird is free’ after $44 billion deal Musk fires Twitter CEO, CFO and chief policy officer Some Twitter users are signaling their willingness to walk away Survey shows employee concerns at work EU warns: ‘This bird will fly by our rules’ Oct 28 (Reuters) – Elon Musk has taken ownership of Twitter …

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Exclusive: Twitter is losing its most active users, internal documents show

Oct. 25 (Reuters) – “Is Twitter dying?” billionaire Elon Musk pondered in April, five days before offering to buy the social media platform. The reality, according to internal Twitter (TWTR.N) research seen by Reuters, goes well beyond the handful of examples of celebrities ghosting their own accounts. Twitter is struggling to keep its most active …

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