Mass Layoff at Meta: Parent Company Facebook and Whatsapp Cut 11,000 Jobs
Meta, the parent company of Facebook, Whatsapp and Instagram, among others, announced on Wednesday that it would lay off 13 percent of its staff. That equates to about 11,000 employees. In a post on the website, Zuckerberg talks about “some of the toughest changes in Meta’s history.”
Chip Shortage Will Slow German Car Production At Least Until 2024
The global shortage of semiconductors will limit car production in Germany “at least until 2024”. This is apparent from an analysis by the consultancy Alix Partners. The analysis shows that it takes six months to order and deliver chips. That is still twice as long as normal. Meanwhile, demand for
Google Stops Separate Street View App
The standalone application for iOS and Android lets you virtually visit places and add your own images, but it wasn’t viral. Google is discontinuing Street View, or its standalone app, on mobile devices. That lesser-known app has the same functionalities as Google Maps with Street View but without the map
European Companies are Frantically Searching for New Emergency Loans
Companies struggling with high inflation and rising operating costs desperately seek new short-term liquidity. The extent to which companies are now looking is comparable to the situation during the heyday of the corona crisis in 2020, the financial news agency Bloomberg analyzed. European companies are taking facilities that expire in
Boeing Loses Billions Due to Contracts Without Inflation Adjustment
Boeing plunged deep into the red last quarter due to setbacks in its defence branch. This is because, partly due to the high inflation, Boeing had to incur many more costs for various military contracts than it was reimbursed. In addition, no inflation adjustment had been agreed upon in those
Wall Street Mixed Ahead of Microsoft and Alphabet Figures
Stock markets in New York showed a mixed picture after the opening bell on Tuesday after the strong recovery in the past two trading days. Many large American companies came up with results, such as General Motors (GM), Coca-Cola, UPS and General Electric (GE). The figures were received mixed. Investors
Apple Presents Next Generation iPads
As expected, Apple has unveiled a new generation of iPads before the end of the month, the tenth already. It concerns successors of the entry-level model and of the iPad Pro, which comes in two screen sizes. The tenth incarnation of the ‘classic’ iPad comes in several striking colours, including
UK Chancellor of the Exchequer Reverses Tax Cuts
New British Chancellor of the Exchequer, Jeremy Hunt, is reversing almost all of his predecessor’s tax cuts. According to Hunt, borrowing money to pay for tax cuts is irresponsible. New British Prime Minister Liz Truss announced those cuts designed to boost economic growth three weeks ago. The British pound reacted
iPhone Refurbisher Swappie Reaches One Million Customers
Swappie, the specialist in purchasing and selling refurbished iPhones, has just given the millionth device a second life. However, the Finnish company still sees a lot of growth potential. According to data from the European Union, only 15% of old telephones are currently recycled or repaired. Swappie was founded in
Billions Loss for Parent Company TikTok
TikTok’s parent company, ByteDance, suffered a billion-dollar loss last year. The Chinese tech group behind the popular movie app grew rapidly but also spent a lot on marketing and developing new features. The Wall Street Journal reports this based on an internal report from the company. The operating loss in
