Job Cuts At Snap Inc, 2tm And Rain, But Experts And Crypto Funding Paint An Optimistic Picture

By Sep 05, 2022, 05:04 PM IST (Published) Mini Snap Inc, 2TM and Rain announced job cuts over the last week, joining a long list of crypto firms cutting back amid the ongoing crypto winter. Torrid times continue for the crypto industry, as Snap Inc, 2TM and Rain announced job cuts over the past … Read more

Snap cutting 20% ​​of staff as ad sales continue to dry up

SILVER SPRING, Md. (AP) — The parent company of social media platform Snapchat said Wednesday that it is letting go of 20% of its staff as it reorganizes and tries to reduce costs in the face of declining sales. In a letter to staff posted on Snap Inc.’s website, CEO Evan Spiegel said sales were … Read more

Snap confirms 20% job cuts and announces business restructuring

Snap shares rose as much as 15% after it confirmed reports it will cut 20% of its more than 6,000-person workforce and said it will scrap several projects, including its Pixy photo-taking drone and its lineup of Snap Originals premium shows. CEO Evan Spiegel announced the moves in a memo Tuesday, and told employees the … Read more

FTC looks to hammer out rules to rein in tech companies’ data collection

WASHINGTON — Whether it’s the fitness tracker on your wrist, the “smart” home appliances in your house or the latest kids’ fad going viral in online videos, they all produce a trove of personal data for big tech companies. How that data is being used and protected has led to growing public concern and officials’ … Read more

Snapchat plans to lay off employees after disappointing Q2CY22 numbers

Instant multimedia messaging app Snapchat is planning to lay off a number of its employees, after the company declared a fall in its profits in the second quarter of the current calendar year (Q2CY22), The Verge reported the development quoting people familiar with the plans. The net loss of the company widened to $422 million … Read more

Pinterest (PINS) Q2 2022 earnings

A woman walks past a sign at the headquarters of Pinterest in the South of Market neighborhood of San Francisco. Smith Collection | In the year | Archive Photos | Getty Images Pinterest shares jumped on better-than-expected user numbers even as earnings and revenue missed estimates and the company gave weak guidance for the third … Read more

Tech companies hit the brakes as slowdown looms

Tech giants that have often sailed above the economy’s turmoil can’t escape the current downturn’s pain, as this week’s earnings reports from the sector’s key companies illustrated. Why it matters: Even as other industries struggled during the pandemic, tech prospered because so much of the economy shifted online. Now they are preparing to take a … Read more

Amazon (AMZN) Q2 2022 earnings

Amazon shares climbed more than 13% in extended trading on Thursday after the company reported better-than-expected second-quarter revenue and gave an optimistic outlook. Here’s how the company did: EPS: Loss of 20 cents Revenue: $121.23 billion vs. $119.09 billion expected, according to Refinitiv Here’s how other key Amazon segments did during the quarter: Amazon Web … Read more

shares crater on ‘recessionary fears’

A video sign displays the logo for Roku Inc, a Fox-backed video streaming firm, in Times Square after the company’s IPO at the Nasdaq Market in New York, September 28, 2017. Brendan McDermid | Reuters Roku shares plummeted more than 25% in extended trading on Thursday after the company missed expectations on the top and … Read more

5 things to know before the stock market opens Thursday, July 28

A trader works on the floor of the New York Stock Exchange (NYSE) following a Fed rate announcement, in New York City, July 27, 2022. Brendan McDermid | Reuters Here are the most important news items that investors need to start their trading day: 1. Stock futures look soft US equities markets were set for … Read more