Money

Meta to axe 10,000 more jobs in second round of cuts

Published

3 years ago

March 15, 2023

Meta Platforms announced Tuesday that it will axe 10,000 more jobs – its second round of mass layoffs – as the tech industry braces for a deep economic downturn.

The job cuts – which come after the company slashed 11,000 jobs in November – are part of a larger restructuring plan, as CEO Mark Zuckerberg declared last month that 2023 would be Meta’s “year of efficiency.”

The owner of Facebook and Instagram, which had been pouring billions of dollars into building the futuristic metaverse, has struggled with a slump in advertising.

“This is really Zuckerberg and Meta ripping the band-aid off, in terms of the cost structure,” Daniel Ives, Senior Equity Analyst at Wedbush Securities said.

“Clearly, they’ve seen headwinds, and it’s really a 180-degree turnaround in terms of what we saw from a year ago, where this company was spending money like 1980 rock stars.

“This metaverse strategy is really starting to reverse course as Zuckerberg is reading the room – that’s what Wall Street wants to see.”

In a message to staff, Zuckerberg called 2022 “a humbling wake-up call” and said while the latest job cuts would be announced in April and May, they could continue through the end of the year.

Worries of an economic downturn due to rising interest rates have sparked a series of mass job cuts across corporate America: from Wall Street banks such as Goldman Sachs and Morgan Stanley to fellow Big Tech firms Amazon and Microsoft.

Money

Tesla brand value plummets amid Elon Musk’s political focus

Tesla’s brand value plummeted to $27.61 billion in 2025 amid Musk’s political shift, sparking investor concern.

Published

1 day ago

January 28, 2026

Harvey Vargas

Tesla’s brand value plummeted to $27.61 billion in 2025 amid Musk’s political shift, sparking investor concern.

Tesla’s brand value plummeted by $15.4 billion in 2025, falling to $27.61 billion from $66.2 billion in early 2023. Analysts say Elon Musk’s political focus and a slowdown in new models have distracted the company’s core business.

In the U.S., Tesla’s recommendation score sank to just 4 out of 10, down from 8.2 in 2023. Despite this, loyalty among existing owners remains high at 92 per cent, showing a strong but shrinking fan base.

#TeslaNews #ElonMusk #BrandValue

Money

S&P 500 and Nasdaq rally ahead of Fed meeting and earnings

S&P 500 and Nasdaq rise for fourth session as investors await earnings and Fed meeting, marking longest gain since December.

Published

2 days ago

January 27, 2026

Harvey Vargas

S&P 500 and Nasdaq rise for fourth session as investors await earnings and Fed meeting, marking longest gain since December.

The S&P 500 and Nasdaq have climbed for the fourth consecutive session as investors brace for upcoming earnings reports and a Federal Reserve meeting.

Both indexes reached their highest levels in over a week, marking the longest series of gains since December.

#StockMarket #SP500 #Nasdaq #TechStocks

Money

U.S. and China approve TikTok sale to American investors

US and China approve TikTok’s sale to Oracle and Silver Lake amid regulatory scrutiny, with ByteDance retaining 20%.

Published

6 days ago

January 23, 2026

Harvey Vargas

US and China approve TikTok’s sale to Oracle and Silver Lake amid regulatory scrutiny, with ByteDance retaining 20%.

The United States and China have officially approved a deal for TikTok’s US operations to be sold to American investors, led by Oracle and Silver Lake.

This marks a major shift in the social media landscape as the platform navigates increasing regulatory scrutiny.

Under the new agreement, ByteDance will retain just under 20% of TikTok US, while Oracle and Silver Lake will each take 15% stakes. Other investors will also participate, forming a structure designed to satisfy both commercial and regulatory demands.

The new US-based entity will have a majority American board tasked with overseeing data protection and content moderation. Despite these safeguards, concerns remain about ByteDance’s influence and whether the deal fully complies with recent legislation.

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#TikTokSale #USChinaDeal #Oracle #SilverLake #ByteDance #TechNews #SocialMedia #DataProtection