2026-02-27
Case in point: @eBay announced today it's cutting 800 jobs, or 6% of its full-time employees. HQ San Jose, CA If you're one of one of them, do you collect UE benefits from CA or get paid 114% more to drive @Uber cc @AnnaEconomist [image]
CNBC
Block says it is laying off 4,000+ of its 10,000+ employees, saying AI tools have changed “what it means to build and run a company”; XYZ jumps 15%+
Block said Thursday it's laying off more than 4,000 employees, or about half of its headcount.
Case in point: @eBay announced today it's cutting 800 jobs, or 6% of its full-time employees. HQ San Jose, CA If you're one of one of them, do you collect UE benefits from CA or get paid 114% more to drive @Uber cc @AnnaEconomist [image]
Bloomberg
eBay says it plans to cut ~800 jobs, or ~6% of its full-time employees, after laying off ~500 people in early 2023 and ~1,000 staff in early 2024
2024-03-16
Difference between 2023 & 2024? White-collar layoffs have been augmented by mass retail closures. Now we arrive at plain vanilla recession. “It's a continuation of predominant theme of 2023, when >260k workers across ~1.2k tech companies lost their jobs.” https://www.cnbc.com/...
CNBC
Layoffs.fyi: 50,000+ workers have been laid off from over 200 tech companies since the start of 2024; some recently laid-off employees recall their experiences
Alex Koller / CNBC : X: @dimartinobooth and @grady_booch Forums: r/technews , r/Layoffs , r/technology , r/singularity , and r/business X: Danielle DiMartino Booth / @dimartinoboo...
2024-01-09
In the upcoming earnings season, we'll witness hand-to-hand combat on the part of C-Suite executives to win the competition to maximize cost-cutting to shore up bottom lines in the face of impaired top-line growth. https://www.nbcbayarea.com/...
Reuters
Filing and memo: Unity Software plans to lay off ~25% of its workforce, or 1,800 jobs, by the end of March 2024, its largest layoff ever and affecting all teams
Videogame software provider Unity Software (U.N) will target laying off approximately 25% of its workforce, or 1,800 jobs …
2023-12-29
Expect “ABRUPT” Retail liquidations early on in 2024 “After rounds of layoffs & CEO departure, online retailer Zulily says ‘financial instability’ has forced it to shut down, surprising customers & laying off hundreds of workers after efforts to salvage the business failed” @AP
The Seattle Times
Seattle-based online retailer Zulily, which had a ~$7B market cap in 2014, winds down; in a December 11 lawsuit, Zulily accused Amazon of stifling its business
Weeks after laying off 800+ employees and suing Amazon … TechRadar : Former ecommerce giant Zulily shuts down PYMNTS.com : Zulily's Last Checkout: The Retail Road to Its Online Clo...
2023-12-28
Expect “ABRUPT” Retail liquidations early on in 2024 “After rounds of layoffs & CEO departure, online retailer Zulily says ‘financial instability’ has forced it to shut down, surprising customers & laying off hundreds of workers after efforts to salvage the business failed” @AP
The Seattle Times
Seattle-based online retailer Zulily, which had a ~$7B market cap in 2014, winds down; in a December 11 lawsuit, Zulily accused Amazon of stifling its business
Once an e-commerce star, online retailer Zulily will liquidate its inventory to pay its creditors as it winds down.
2023-04-12
That lightbulb light goes the distance... “Then a lightbulb went off,” said Mr. Taylor, the association's CEO. Instead of having the employee work in another state, he outsourced her job to India, where his organization is saving ~40% in labor costs. https://www.wsj.com/...
Wall Street Journal
Labor consultants say US companies, responding to labor shortages and rising wages, are outsourcing jobs overseas, expanding on pandemic remote work policies
Companies respond to labor shortages and rising wages by moving some positions abroad, labor consultants say
2023-02-01
“...where real wage growth is going to continue to be negative for a period of time, where discretionary spend will be under pressure.” THIS IS A LAYOFF REFLECTING A WEAKENING U.S. CONSUMER & HAS NOTHING TO DO W/SILICON VALLEY TECH WRECK. https://www.cnbc.com/...
CNBC
PayPal plans to lay off ~2,000 employees, or ~7% of its workforce, “over the coming weeks”, as the company addresses the “challenging macroeconomic environment”
- PayPal on Tuesday announced plans to lay off 2,000 employees, or around 7% of its workforce.
A rare thread prompted by idle reporting. Per @CNBC we should view @PayPal layoffs as “the latest round of job cuts in the tech industry” SQUARE that w/CEO comments: “We're operating in an environment where we think we're going to continue to have inflationary pressures...” 1/2
CNBC
PayPal plans to lay off ~2,000 employees, or ~7% of its workforce, “over the coming weeks”, as the company addresses the “challenging macroeconomic environment”
- PayPal on Tuesday announced plans to lay off 2,000 employees, or around 7% of its workforce.
2022-11-17
“Cisco Announces Restructuring Plan Including Talent Movement Options And Restructuring” “Talent Movement Options”? Since when have publicly traded companies been so CAREFUL with how they describe cost cutting moves?
CNBC
Cisco reports Q1 revenue up 6% YoY to $13.6B, vs. $13.3B est., including Secure, Agile Networks up 12% YoY to $6.68B, and increases its FY 2023 revenue guidance
Ashley Capoot / CNBC :
2022-07-19
The latest in a long stream of Silicon Valley cost cutters: @Apple “plans to slow hiring and spending growth next year in some divisions to cope with a potential economic downturn, according to people with knowledge of the matter.” @business
Bloomberg
Sources: Apple plans to slow hiring and spending growth in 2023 in some divisions to cope with a potential economic downturn; the changes won't affect all teams
2022-06-14
“Binance is the world's largest crypto exchange. The company handles spot trading volumes of more than $14 billion and nearly $50 billion in derivatives volume in a single day.” ht @GoldTelegraph_ https://www.cnbc.com/...
CoinDesk
Binance paused bitcoin withdrawals for a few hours on Monday “due to a stuck transaction causing a backlog”; the company says BTC withdrawals have since resumed
CEO Changpeng Zhao attributed the issue to a “stuck transaction,” and promised a quick fix. Source: @cz_binance , @binance , and @cz_binance .
2021-12-17
This has been the year of M&A. Big deals. Buy the top line. Hope for cost cuts to create sufficient synergies to pump up the bottom line. https://www.wsj.com/...
Wall Street Journal
Sources: Oracle is in talks to acquire electronic medical records company Cerner, in a deal that could be worth ~$30B, which would make it Oracle's biggest yet
An agreement, which could potentially be worth $30 billion, would rank as biggest ever for software giant
2021-07-04
Trickle down ransomware attack from criminals to medium and small businesses. Will U.S. authorities ever get the memo? There's a rumor we've got the best IT minds in the world. Perhaps give the best of the best a ring? https://www.bloomberg.com/...
BleepingComputer
REvil is pushing ransomware via an update for Kaseya's IT management software, hitting hundreds of managed service providers with thousands of customers
A massive REvil ransomware attack affects multiple managed service providers and their clients through a reported Kaseya supply-chain attack.
2021-04-08
NOT retweeting to share political bent of individuals present at this function (that's me asking to please not reply w/any political commentary) but rather to highlight the risk I continue to repeat about China & its rapid adoption of decentralized finance vs US ostrich approach. https://twitter.com/...
Bloomberg
Peter Thiel says he is a “pro-Bitcoin maximalist”, but BTC threatens fiat money and might be used by China to undercut the US dollar's reserve currency status
Peter Thiel, the venture capitalist and conservative political donor, urged the U.S. government to consider tighter regulations …
2020-11-04
I sincerely hope US government sets its priorities straight. Soybeans not a matter of national security. Semiconductors are It's pretty simple And yet farm subsidies handed out like candy. At last check, only China subsidizes its chip industry Wake Up! https://www.wsj.com/... https://twitter.com/...
Wall Street Journal
Semiconductor manufacturing has further shifted to Asia in recent years from US and EU, with many US chip companies contracting out to Asian producers like TSMC
Presumably Taiwan intervenes to keep the TWD weak for a reason (Korea has been less active in recent years, but it also has a history of hefty intervention) https://www.wsj.com/......
2020-09-16
“In a recent poll on Blind, a professional network where users can remain anonymous, 49% of 5,900 respondents said a relocation shouldn't prompt a pay cut...About 44% said they were willing to make that trade, w/the remainder saying they were indifferent.” https://www.bloomberg.com/...
Bloomberg
Source: Stripe plans to make one-time payments of $20K to staff who opt to move out of San Francisco, NYC, or Seattle but will cut their base salaries up to 10%
Anders Melin / Bloomberg : Tweets: @karljtaylor , @lazaruslng , @dimartinobooth , @chicagosean , and @haileylennonbtc Tweets: @karljtaylor : @Techmeme @MelinAnders this is an expe...
2020-07-22
An “invitation” you don't want to receive. “LinkedIn said employees affected by its job cuts will be informed this week and they will start receiving invitations in the next few hours to meetings to learn more about next steps.” ht @chigrl https://www.reuters.com/...
Reuters
LinkedIn says it will cut ~960 jobs, or 6% of its global workforce, as the pandemic is having a sustained impact on demand for its recruitment products
Supantha Mukherjee / Reuters :