HJBC Amazon (NASDAQ:AMZN) is reducing its headcount by more than 17K employees, according to the Wall Street Journal. Citing people familiar with the matter, the outlet reported that the tech giant is due to concentrate staff cuts on its devices business, recruiting and retail operations. The company was previously projected to cut about 10K roles, … Read more
Former FTX CEO Sam Bankman-Fried personally received $300 million from a $420 million funding round for the company in October 2021, according to a Wall Street Journal report that cited FTX financial records it had reviewed, as well as people familiar with the transaction. The arrangement was previously undisclosed, with Bankman-Fried telling investors at the … Read more
narkorn/iStock via Getty Images Prices for diesel fuel have soared by ~50% this year to $5.35/gallon, a record premium over gasoline and crude oil, in another example of how disruptions to globalized energy markets are producing price shocks and potential shortages. The spread between diesel and gasoline has widened to an all-time high of $1.61/gallon … Read more
Right-wing billionaire Rupert Murdoch’s media outlets are pleading for the Republican Party to move on from former President Donald Trump after a disappointing midterm showing by the GOP. Murdoch’s outlets — which include Fox News, The New York Post and The Wall Street Journal — have blasted Trump with a barrage of negative headlines while … Read more
US officials are reportedly concerned that Gray Eagle MQ-1C deliveries may add fuel to the conflict The administration of US President Joe Biden has rebuffed Kiev’s requests to provide it with state-of-the-art drones over concerns that doing so could escalate the Ukraine conflict, the Wall Street Journal reported on Wednesday, citing sources. According to US … Read more
Sam Bankman-Fried has reportedly asked investors for $8 billion in emergency funding to cover a shortfall caused by the flood of withdrawal requests to his crypto exchange in recent days. According to a report in the Wall Street Journal (WSJ) citing “people familiar with the matter,” the CEO reportedly made the request to investors in … Read more
The company is expected to dismiss thousands of employees due to post-pandemic losses and a rise in spending Meta Platforms, the parent company of the social networks Facebook and Instagram, plans to dismiss “many thousands” of its employees, the Wall Street Journal (WSJ) reported on Sunday, citing sources. The first major layoffs in the firm’s … Read more
(Bloomberg) — Meta Platforms Inc. is planning to begin layoffs that will affect thousands of workers from this week, Wall Street Journal reported, citing people with knowledge of the matter. Most Read from Bloomberg The job cuts could come as early as Wednesday, the newspaper said. The company has already told employees to cancel non-essential … Read more
Derick Hudson Meta Platforms (NASDAQ:META) is planning to implement large-scale job cuts this week that could affect thousands of employees, The Wall Street Journal reported Sunday. “Many thousands” of employees could be in the firing line in what may be the largest number of Big Tech layoffs seen of late, the Journal said, citing people … Read more
Zillow’s decision last year to jump out of this burning house is suddenly looking kind of smart. Opendoor Technologies said Thursday that its automated home-flipping business sold 33% more homes than it had guided to in the third quarter but that the company made 20% less than it had forecast on the basis of adjusted … Read more