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Amazon, Meta, Netflix: Why Big Tech Is Facing Massive Layoffs | WSJ- It was one of the hardest calls

Wall Street Journal

Updated on Jan 26,2023

Amazon, Meta, Netflix: Why Big Tech Is Facing Massive Layoffs | WSJ

- It was one of the hardest calls that I've had to make,in the 18 years of running the company.,- Company-wide announcements,from tech CEOs have all had similarities recently.,- This is a very difficult decision.,- Tough decision.,- Amazon is preparing to lay off up,to 10,000 workers.,Meta is cutting 11,000.,Netflix has made big cuts, so has Shopify, Snap, Twitter.,Well, maybe that's a unique circumstance.,(Elon chuckling),Here are the macro and micro reasons,why the tech industry is seeing massive layoffs right now.,Picture it, Silicon Valley, 2019.,These three major tech companies' revenues,were growing steadily as everything moved online.,And their number of employees was also growing.,Then, of course, the pandemic hit.,People began shopping from home, binge watching,,(Netflix starting music),and just generally being online more.,Not only did the revenues,of many of these tech companies skyrocket,,but so did their head count.,- I think Amazon is the quintessential example here.,If you're promising two-day shipping,,you have to deliver two-day shipping.,Amazon, in response,,just had to hire many, many more people.,- Not only did Amazon grow its delivery operation,but it also grew from its Web Services.,- Companies and businesses,that might not have been online before,,now had an online presence.,You have to host that data somewhere,,and so Amazon saw their cloud computing service do very well,during the pandemic.,- Revenues stayed high through 2021,and many tech CEOs thought the growth would continue,at the same rate they had seen for the last two years.,- We're gonna continue to invest aggressively,into the growth opportunities that we see.,- So they continued the hiring spree,,and not just a lot of employees,but some expensive employees,because this is also when the talent wars ramped up,where companies were vying for in-demand employees.,Facebook launching the Metaverse is a prime example.,- From now on, we're going to be Metaverse-first,,not Facebook-first.,- We saw about 100 or so people leave Microsoft for Meta,,and some of these people who left the company said,that they were being offered double their salary.,- But by 2022, consumer habits,had changed in a big way.,People were no longer stuck inside.,Netflix saw a drop in subscribers for the first time,in over a decade.,People began spending more of their money on services,and less on goods.,Revenues for many tech companies started to stall,or even decline for the first time.,- Some of these CEOs sort,of overestimated where that new middle ground is.,- Which is why they're explaining,,while apologizing that they grew too fast.,Each tech company has also faced distinct problems.,A major one, Apple's privacy change,,which required apps to ask users,if they wanted to be tracked.,It affected a key component,of many of these social media companies',digital ad-focused business models.,Add in the threat from TikTok,taking away viewership from other social media platforms.,- When you have all these things happening,at the same time, I think that's what really did it,for these companies and put them in.,- The bigger companies aren't outliers either.,Layoffs have been happening across the industry,throughout 2022 but have recently surged.,But even though these are a lot of layoffs,,the companies are not shrinking back to pre-pandemic levels.,Meta's layoffs will bring the number,of employees to about here.,Amazon's to about here.,Netflix brought the employee count here.,- To be clear, a lot of these companies are still growing.,It's just that the growth is slowing back,to sort of pre-pandemic or early pandemic levels.,- CEOs also say the timing,has to do with the threat of an economic downturn.,- Well, there certainly have been a lot,of changes very quickly in the macroeconomic environment.,- We're in a very rapidly changing economic environment.,- In some ways, these layoffs are a bit proactive.,I means, some of them have said we're doing this now,so that we never have to do this again.,- These layoffs, while concentrated,in the tech industry, are still a lot.,Tens of thousands of people.,- For a lot of people, this reversal and these layoffs,are something that they've never seen before.,- The tech industry,had the exceptionally pronounced experience,of growing during the pandemic,,and now while the rest of the labor market is growing,,they've having the exceptional experience of not.

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Neuroscientist Answers Illusion Questions From Twitter | Tech Support | WIRED
Jim Cramer breaks down shares of Amazon, Twitter, Tesla and more
Após Facebook e Twitter, Amazon anuncia demissão de 18 mil trabalhadores nos EUA | LIVE CNN
Lyft, Amazon and Twitter announce layoffs or hiring freezes amid tech slowdown
MORE bad news for the GPU Industry... when will it end?
Elon Musk defends Twitter layoffs - BBC News
Elon Musk Installing Cry Rooms For Twitter Staff As RUTHLESS New Head Of Trust & Safety Hired

Neuroscientist Answers Illusion Questions From Twitter | Tech Support | WIRED

my name is Pascal balish a professor of,psychology and data science at NYU I'm,an expert in visual perception I'm here,to answer your questions from Twitter,this is optical illusion support,and O'Malley oh nice username an anomaly,asks have you seen the optical illusion,where you stare at a spiral then look,away and things appear to be crawling,yes this is a a very striking example,it's called emotion after effect and you,take a look at this video here if you,look at the dot in the center it's 10,seconds or so and then look away I,recommend looking at your hand the hand,will appear like it is crawling and,what's going on here we actually,understand this very well there's been,thousands of studies on this over the,decades we know the neurons in your,brain that are underlying the perception,of motion once they get active for a,while they get tired they fired a lower,rate than they did before and and this,is not,um you know enter morphizing that you,can measure this with voltages in the,brain and we have user s bernian asks I,was staring at the spinning dance,illusion thing and she started spinning,backwards this goes viral on social,media every so often and let me be very,clear or early on every time this does,go viral people say oh if you see it's,spinning clockwise or counterclockwise,this will tell you whether you're like a,left brain or a right brain person and,I'm here to tell you no that has nothing,to do with that that is literally fake,news that is not true reasons you can,tell that is not true is that if you,look at this video you might notice that,Midway looking at it the dancer changes,the direction of motion so it was,clockwise before now it goes clock,counterclockwise and vice versa so,obviously nothing's changing stimulus if,you watch this again you will have a,different experience maybe the image,itself,is devoid of critical information so if,you the Contour,is just black so it's unclear if this,hand is in front or this hand is in,front so whether the dancer will spin,this way or that way will depend on your,assumption if you see the front hand or,the backhand yes and the way you can,switch this if you deliberately force,yourself to presume that one arm is the,front and one is the back this,highlights two important things one your,perception of the world is an,interpretation of the world and that,interpretation depends on the,assumptions that you make about the,world if there's not enough information,about the world this is a great one,Spiros lancos asks what is motion,induced blindness motion-induced,blindness is a great example of like how,important motion is so what you see in,the video is if you focus on the dot in,the middle and there's three yellow dots,that are always there if you keep,focusing it on the middle those dots in,the perfect start to disappear now I'm,claiming that they're always there they,never go away you can confirm that and,you can rewind the video but just by,keeping look looking at that so what's,going on here motion is very very strong,so this is not another example of how,your perception is the best guess of the,world so there's two competing models,now one is that there's three dots and,they're always there and one is a,rotating plane that's kind of occluding,those dots and in when in doubt your,brain will go to move to motion and I'm,actually now gonna ruin magic for you I,guess because most magic tricks rely on,this the idea is if I create some,distraction by you know move making a,lot of motion here I can do literally,anything else in plain sight and you,will not see it says the sea bass asks,can someone please explain the,difference between the five phenomenon,and beta motion to me and I'm happy to,help beta motion is happening right now,if you're seeing this on a on a device,and this is a video of me talking there,is no motion so you see I'm moving right,now but there's no motion you see uh,still images uh something like 30 or 60,or whatever the frame rate of your,monitor is a second your brain is,inferring the uh motion between that's,basically there's two objects first one,is object here and an object is here the,brain is filling in that something is,moving if something is here and it,disappears then something is here the,brain,concludes infers as an unconscious,inference a conclusion it's a guess it,didn't just was here and then it,disappeared that was here now it moved,that's the inference if you make this,fast enough uh 20 Hertz or 30 Hertz it,will appear like Smooth smooth motion,that's the beta motion what Phi is is,you have uh the objects static sometimes,in a ring and you have then some shadowy,thing occluding it it will appear like a,object is moving around them that's Phi,that's what Phi motion is colian asks,how do mirages happen so weird that is a,example of a genuine optical illusion,most things that are called optic,illusions are not optical illusions what,do I mean by that Optics means light,it's Greek for light so a mirage is an,example of an a

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Jim Cramer breaks down shares of Amazon, Twitter, Tesla and more

by the way the Elon meeting yesterday,was a very kind the Twitter you mean the,Twitter meeting tell us what you heard,okay so it was run really you know by by,that terrific CMO okay by Leslie Berlin,I don't know if you've met Leslie she's,Sensational it was a great there was,comedy c-o-m-i-t-y kind yes where she,would ask the questions when when Elon,would be feel you know when he would,Veer too much towards say aliens she'd,bring him back got it um a lot of people,came back and were impressed at how much,work he had done and how kind he was and,that they were kind of surprised and he,wasn't arrogant at all and that he had a,great relationship with Leslie he was,important to CMO and people came back,and said you know what this is very for,real and he's a respectful man,do you believe a billion users is,feasible,I think that he look I've never I've,never doubted this man's abilities I was,very glad to hear that he was both,humble no condescension yesterday,nobody's ever questioned his rigor I,mean no I mean I think he could do it he,can get on the assembly line anywhere,and spot anything that is potentially,needs to be dealt with he can walk into,the no into SpaceX as well and do the,same thing I mean so I say yes I think,musk is unique I was so thrilled that he,was and by the way he was even fun and,funny all right all of which adds up to,absolutely nothing in terms of whether,he's actually going to follow through,and buy this company at 54. who is that,Insight I've worked on little that,Insight that's great I think it's very,interesting no I said that it's not,necessarily connected to the fact that,he's going to follow through and buy,this company for 44. okay that's most of,which is in his act most of which is in,cash coming from him that's by the way,for a guy whose net worth is still one,of the highest on the planet but is,obviously down from when and uh Tesla,was a trillion dollar company by the way,uh Adam Jonas Morgan Stanley has a note,today about the auto business in a,recession he writes apart from Elon no,other Auto CEO has rung the bell with a,warning on recession in our view this,could change prior to Q2 earnings season,he mentions Ford noting the rising,delinquencies we expect a chorus from,here it's interesting because the,frequency in this Market's very,different because they reclaim it it's,actually worth more than what they,bought it for so it'd actually be,positive uh Ford did Ford have another,recall today or was that just yesterday,I don't know but did you see that Tesla,is potentially going to raise price,significantly the website reflects yeah,I mean perhaps as much as 6 000 I mean,heading into a recession that's not,exactly a grabber no but he does have,incredible which it's not clear that we,are but it's possible that we are and,certainly he even intimated you'd think,that he would try you know that's not,easy but maybe the demand will still be,there no I mean the command could be,there um I think there will be because,you can't you look if you don't have,she's just selling out that's pretty,amazing by the way Ford should sell its,rivian because why would Amazon need all,these trucks vans if they're trying to,cut back so unfortunately Amazon is,going to need them it's not as though,their demand eventually I mean,eventually yeah so what I do is Park,them well let's just park them and giant,Amazon parking lot you think rivian's,gonna be able to make enough of them in,the short enough amount of time that,it's going to really matter I mean,before they but do you think they might,have problems no I'm just saying I mean,Amazon wants a hundred thousand of them,eventually right that may be that was,not gonna get them this year I think,that was Bezos that wanted those not,Jazzy that's interesting how that split,is uh is sharpening isn't that the how,it fooled even even Bezos one of the,great innovators at scale the pull,forward in covid was such a wild card,the Algos nothing could understand what,was coming at us Amazon can't understand,it now subletting warehouses why would,they need all these rivians they're,subletting warehouses,well they still are delivering,millions and millions a lot of the,animals they're delivering they're,executive fulfilling millions and I mean,and there's still tons of millions,they're still Prime yeah it's not like,Amazon is not doing what it does look,they still want to go because they're,making fun of it same day delivery,significantly no but I just thought that,article was you know I'm just praising,that article because boy that was,eye-opening Bezos was just hiring like,mad jassy goes over to from Amazon web,services to the regular part and says,that's not how we do it can you imagine,that every day that's not how we do it,David that's not how we do it David mean,while it is worth recalling that Amazon,web services is still the profit engine,of this company the huge thirty three,quarters yeah only a seventh of the,revenue but the bulk of profitability,and adv

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Após Facebook e Twitter, Amazon anuncia demissão de 18 mil trabalhadores nos EUA | LIVE CNN

gente a gente segue com outras notícias,por aqui para falar dos Estados Unidos,porque por lá a crise chegou na gigantes,de tecnologia viu a gente tem mostrado,em outros lugares por exemplo no Twitter,várias demissões pois agora a Amazon,anunciou que vai demitir sim mais de 18,mil funcionários e outras empresas,também devem fazer cortes Como já,aparece aqui ao vivo direto de Nova York,para trazer os detalhes sobre mais esse,layoff gigantesco que acontece agora com,a Amazon Mari muito bem-vinda boa tarde,para você,Oi Muri muito obrigada boa tarde boa,tarde a todos Olha os cortes da Amazon,devem começar no dia 18 de janeiro e,devem atingir vários setores da empresa,Como por exemplo o setor de RH também as,armas uns torces que são as lojas,físicas da Amazon o CEO da empresa,emitiu um comunicado dizendo que essa,foi uma decisão difícil mas necessária,para garantir que a Amazon tenha uma,estrutura forte de custos Ele também,disse que empresas que duram muitos anos,que duram muito tempo passam por,diferentes fases e nem sempre estão em,fase de expansão contratando muita gente,o que acontece Muri aqui nos Estados,Unidos a Amazon teve um bom durante o,auge da pandemia com muita gente,comprando online aqui em Nova York mesmo,naquela época que as ruas estavam vazias,a gente só via os entregadores com os,carrinhos cheios de caixas da Amazon,entregando ali nos prédios e aí conforme,a vida foi voltando ao normal essa,demanda caiu e foi isso que aconteceu,com muitas empresas dos setores de,tecnologia sei força anunciou também,agora essa semana seus Force que a,distribui desenvolve softwares para,empresas que vai cortar 10% dos,funcionários a meta dona do Facebook do,Instagram também anunciou 11 mil cortes,recentemente o Twitter né claro mesmo,polêmicas De low musk mas também acabou,na prática cortando mais da metade dos,funcionários e o que acontece é isso,essas empresas contrataram muito no auge,da pandemia e agora o ritmo começa a,diminuir e o tanto que o que dizem né os,Estados Unidos continuam os economistas,continuam dizendo que os Estados Unidos,ainda estão em fase de plano emprego a,taxa de desemprego por aqui é de,3,7%, Então é assim considerado uma,situação de pleno emprego e por isso os,analistas dizem que na verdade essas,demissões nos setores de tecnologia são,uma readequação das empresas as empresas,se adequando ao que seria o tamanho,certo depois de ter encontrado muito com,a demanda mais alta durante o áudio da,pandemia e é importante também a gente,lembrar Muri que é claro né a gente fala,sobre esse assunto Isso muda mexe com a,vida das pessoas muda completamente a,vida das pessoas a gente está falando de,muitos empregos sim mas os setores de,tecnologia representa pouco menos de 10%,de toda a força de trabalho dos Estados,Unidos então o mercado de trabalho aqui,continua assim aquecido Apesar dessa,crise no setor tanto que os juros,continuam elevados por aqui a gente teve,ontem a divulgação data da última,reunião do Banco Central americano,dizendo que os juros devem continuar,elevados justamente para tentar,esfriar um pouco a economia muda Então,esse é o panorama né 2023 começando com,esses indícios aqui de uma economia que,continua aquecida mas com a crise nesse,setor que acaba sendo prejudicado agora,com essa volta né a vida normal com essa,mudança no ritmo de vida dos americanos,muito preocupante a gente acompanha,sempre falar que tecnologia é o futuro,mas a gente vê essas crises acontecendo,justamente empresas de tecnologia né,Vamos seguir acompanhando um bom,trabalho para você por aí Mari

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Lyft, Amazon and Twitter announce layoffs or hiring freezes amid tech slowdown

fresh signs of weakness in the tech,industry more rounds of sweeping job,cuts and hiring freezes Amazon shares,lower as it pauses corporate hiring and,in anticipation of an economic slowdown,in the ride hailing space Also lift,cutting 13 of employees which amounts to,roughly 680 workers now it's the second,round of cuts this year and comes after,a hiring freeze was announced back in,September and payment processor stripe,says it's getting ready for quote leaner,times cutting more than 1 000 jobs it,all makes for Grim reading Yahoo,finances down Howley has the latest here,so Dan break this down for us yeah it,really is kind of this all-around push,that we're seeing in the tech industry,for some kind of cost cutting measures,and it seems like right now they're,going for employees so as you said we,had stripe they're basically announcing,uh the CEO saying they're going to lay,off 14 of their Workforce they said that,they over hired for the world that,they're in and it pains them to be,unable to deliver the experience that,they had hoped uh lift saying they're,laying off those 683 employees that's,about 13 percent of the workforce there,we also had uh Amazon announcing that,they're having a hiring freeze this is,new incremental hires that they're going,to be freezing they had previously said,that they were freezing corporate hiring,for its retail business so another kind,of uh freeze there and then we've had,some reports that obviously Twitter is,going to be doing some layoffs this,isn't necessarily related in the same,way to the kind of spending cuts that,other companies are doing but in a way,it is uh they're looking at potentially,50 percent of the workforce being cut as,Elon Musk assumes control of the company,so you know you can only imagine the,other kinds of moves we're going to see,from companies as far as hiring freezes,or straight up layoffs right now a,number of them have said that they will,do hiring freezes we had Intel,previously saying that there were going,to be cutting positions but they haven't,come out with anything concrete yet but,you know it seems like this is going to,be something that we'll have to continue,to follow as we did during the summer,when the same thing was happening yeah,Dan I guess compare what we're hearing,now to what we did here in the summer is,there anything different just in terms,of the rhetoric that's coming from some,of these larger companies and I guess,the biggest headwinds facing the tech,industry we talked about the slowing,advertising business obviously that's,having a direct impact also Rising,competition just to name a few of the,challenges out there in front of these,larger companies yeah I think the the,rhetoric is that they're trying to,ensure that people recognize that it's a,short-term issue not a long-term issue,with these companies so you know,Amazon's saying that while they're,freezing hiring for now they're still,going to be hiring in 2023 a lot of,companies saying that they're going to,be backfilling positions so they're not,going to just you know stop hiring,wholesale but they are cutting back and,I think you know what what this really,is is their reaction to the macro,environment now right recognizing that,there will be improvements in the coming,months or quarters it's just not,happening right this second and they,have to do something right this second,and so what they're doing is they're,going for these types of job cuts and,you know they've recognized obviously,that they're going to have to pay for,some of these especially in the case of,you know companies like Lyft but you,know as far as the freezes Go I mean,look I'd rather my company be freezing,hiring than laying off yeah certainly if,you're a current employee that's a much,better scenario and obviously these Tech,names have been under pressure since the,start of the year and more headwinds as,the FED continues to raise rates so we,will stay on that story right Dan Halley,thanks so much

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MORE bad news for the GPU Industry... when will it end?

hey what's up everybody js2sense here,and today we're going to talk about some,of the news you've probably heard,already regarding MSI afterburners uh,development in Jeopardy the the future,of the project being in Jeopardy some,things to talk about here there's been,some updates from some responses from,MSI and stuff we're going to talk about,what this means to you how this,potentially affects you in the future,and we're going to try looking at it,through some different Optics,shut up,the Lee and Lee unifan slv2 refreshes,one of the most Innovative fan designs,we've ever seen the completely,redesigned interlocking key provides,improved radiator clearance while the 28,millimeter frame provides 10 percent,better airflow compared to V1,interlocking fan frames allow for,clutter-free daisy chain providing the,cleanest Cable Management possible,available in black or white the unifan,slv2 can be purchased either,individually or a three fan starter pack,including everything you need to get,started to learn more about the unifan,slv2 follow the sponsored Link in the,description below,all right now that the 40s have fully,set in I'm I'm wearing my glasses full,time now so um you can believe what I,say because I just look smarter now I,guess so anyway if you guys haven't,heard the MSI afterburner project is,actually a one-person project the guy is,actually located in Russia he's a,Russian private developer that basically,years and years ago kind of reached out,to MSI and was like Hey I developed this,thing we're talking about Riva tuner and,some some other analytic software the,MSI after or MSI uh ended up kind of,funding and sort of hiring him to sort,of develop the project now the Project's,always belonged to him and his his name,and I'm going to mutilate this I'm sorry,I don't know how to pronounce Russian,names very well but his name is uh Alexi,nicolicit,Alexi Nicola Chuck I so I'm sorry if I'm,saying that wrong as you guys are,probably aware over the last 11 months,there has been this uh kind of a thing,happening in the Ukraine slash Russian,and Eastern Europe area right now with,him being based in Russia he made a post,on Guru 3D now Guru 3d.com if you guys,have never been there that's like the,old school these are the Die Hard 3D,modifying slash bios customizing slash,gurus hence in the name of anything,accelerated Graphics these this website,goes back a long time now he would do,most of his project updates there if you,wanted to know what was coming what was,in the pipeline like some of the,features being worked on bugs and all,that it was all kind of just handled,there and in Guru 3D is where he made a,post basically saying that um he hadn't,received any payment from MSI for the,last 11 months basically if you if you,overlay that timeline about being paid,it lines up perfectly with a lot of the,sanctions and stuff that have been,taking place regarding the conflict out,out in that area he posted that he,believes this is the death of the,project,because he hasn't been receiving any,sort of of payment or full disclosure,here I have no idea what their agreement,is he hasn't really said what the,agreement was was this is this a,contractor based is he officially a,contractor of MSI is it something that,he was just officially unofficially,doing where there's no contract in place,um were there agreements on how long,this would be supported,and there's a lot of questions that I,still have here because since this news,initially broke I wasn't planning on,really making a video about this until I,started to realize like what kind of,implications this has towards the,Enthusiast uh consumer slash just GPU,enthusiasts out there likes to Tinker or,play around with their stuff which is,obviously how we view graphics cards and,CPUs and and stuff like that here we,like to Tinker with it and MSI afterburn,has always been the easiest free stable,Reliable Software to use because the,irony is that these graphics card,companies aside from MSI because the,funny part is you know it's MSI,afterburner believe it or not it doesn't,fully integrate with MSI graphics cards,it just has their name in it but it's a,completely Standalone product you can't,control the RGB or bios updates or any,of that stuff that MSI afterburner as,the name might actually imply pretty,sure all of these run on the rtss engine,which is actually developed by this guy,it's a separate product that's usually,bundled within so you probably have seen,rtss,um updates and stuff built into MSI,afterburner now rtss is what gives you,the overlay of like when we show you on,screen of like what the FPS is what the,temperatures are what the CPU temps and,stuff are that's all rtss and then,you've got the tuning side of it which,basically just bakes into the driver and,allows you to be able to move sliders,that are tied into the GPU firmware or,bios so you can see how if you're liking,to mess around with your Hardware,specifically gpus it would be a big deal,if this project stop

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Elon Musk defends Twitter layoffs - BBC News

Elon Musk has defended his decision to,sack thousands of staff at Twitter,without warning the world's richest man,bought the social media platform last,week he tweeted to say that he was,forced to make the cuts because Twitter,was losing nearly 4 million dollars a,day Mr musk also attempted to allay,concerns about the spread of hate speech,saying Twitter's commitment to content,moderation remained unchanged but,President Biden has said the Tycoon has,bought an outfit that spews lies across,the world many big firms have paused,their advertising on Twitter while,uncertainty about its content controls,remain here's our technology editor Zoe,Kleinman,Elon Musk didn't speak to any of the,thousands of Twitter employees laid off,today instead he was a surprise guest at,this investor conference in New York,meanwhile many Twitter staff woke up,locked out of their work laptops they,were later told via an email to their,personal accounts that it was their last,working day at the firm some have been,told they'll be paid until February next,year getting some sort of certainty,after months of speculation a mixed,range of emotions,um certainly upset certainly frustration,certainly some anger but you know what,also in some cases some relief right,because this was a a thing that played,out over the course of the majority of,this year there were understandably lots,of emotional tweets this isn't looking,promising can't log into emails so,grateful this is happening at 3am,another said the official and very,dehumanizing layoff email has been,received for others it was simply by,literally everyone Elon Musk made it,clear when he bought Twitter last Friday,that big changes were coming Twitter's,regarded as influential but it hasn't,made a profit in years and it's also,failed to attract new users,Twitter makes its money from adverts and,businesses are spending Less on that as,the financial crisis bites they've also,been calls for Brands to boycott Twitter,in protest against Mr musk's leadership,something he addressed today a number of,major advertisers have stopped spending,on work,so this is but this is this doesn't seem,right because,um we've made no change in our,operations at all Elon Musk is planning,to charge a monthly fee for verification,currently given out for free to high,profile accounts as a badge of,authenticity he's also looking at,setting up a moderation board to oversee,decisions about banned accounts for,those staff Who Remain Twitter under,Elon Musk who says he expects an extreme,work ethic will be a very different,environment and the platform itself,might also start to fill like a new,experience Mr musk is the world's,richest man he knows how to do business,he may well be able to turn Twitter,around but it'll be done on his terms,Zoe Clement BBC News,well earlier I asked Aaron Wu from the,information about how Twitter employees,past and present are feeling about the,situation,people are shocked at the speed that,this is happening at and they're also,they're angry that there hasn't been,more communication from Elon Musk and,his team they're also worried about,what's going to happen to the future of,the platform well what specifically are,there concerns which direction do they,see the platform heading in,so what's important to remember is that,this is all happening just days ahead of,the midterm elections in the United,States and so days ahead of the midterms,half of the staff have has been fired,and said they're worried that there,won't be enough content moderation staff,and they're also concerned about what,could happen if Elon Musk goes ahead,with his plan to start charging for,verification on Monday just one day,before the midterm elections Elon Musk,tweeted earlier he said at Twitter's,strong commitment to content moderation,remains absolutely unchanged and he says,in fact we've actually seen hateful,speech decline below our prior Norms,contrary to what you may read in the,Press does that tally with what you're,seeing,sure I can't forever deny what he's,saying about the amount of hateful,speech on the platform changing but what,I can say is that for example the,curation team which was responsible for,essentially deter helping determine what,people saw through trending topics that,team has just been absolutely decimated,by these cuts and so people are,concerned that those changes in others,may lead to more misinformation on the,platform ahead of Tuesday's elections uh,thinking longer term about the platform,how does Twitter Look to You kind of,short medium and long term under Elon,Musk,I think all we can say at this point is,it's going to be incredibly difficult,it's going to be incredibly different,like we've seen a few of the changes,already he's planning on changing,verification there's talks of bringing,back buying the short form video product,product there's also been some,indication of what he's planning on,shuttering and so that's reviewed and,notes the longer firm content so there's,definitely a lot o

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Elon Musk Installing Cry Rooms For Twitter Staff As RUTHLESS New Head Of Trust & Safety Hired

what's going on everyone Jeremy here,from the quartering and uh some new,interesting bits of information coming,out of including up some perhaps some,impending cry rooms for Twitter staff on,top of new layoffs and,former Twitter staff whining that they,weren't paid enough in their Severance,packages now maybe they are owed more,contractually and you know it would be,to me it seems odd that you would pay,less than what you said you would pay,but you know especially given being Elon,in the Press but uh it's been an,interesting Little Wave mini wave of,news Twitter employee laid off after,Elon Musk takeover,received Severance payments today that,fall short of expectations,well we don't want we don't want that I,mean we don't want people to not get,paid uh for doing nothing even more,following following further delays this,week some Twitter employees finally,received their official Severance,agreements on Saturday after months of,anticipation according to multiple,sources by the way for the past several,months they've been getting paid in full,to not show up for work,um however the compensation is much less,than what they may have X many expected,and the emails are landing in Spam,folders,after Elon Musk assume control the,social media Giant in late October,about three-fourths of the company staff,of 7 500 were let go on a series of cuts,musk tweeted that those effective would,see it would receive three months,Severance compensation previous Twitter,leadership pledge to offer at least two,worth of severance as well as prorated,performance business extended Visa,support money for Health Care,continuation which is usually like Cobra,and the cash value of equity that would,vest within three months however,the agreement sent out today uh provide,laid off employees in the United States,with one month of base pay of severance,those that go in November have been kept,on the payroll and have been paid their,regular salaries for the previous 60,days,so I want to be clear,these people have already received two,months full pay,two months of pay for it and have not,had to show up for work paid in full,for the last two months then they get a,severance,for a additional 30 days so that would,be 90 days severance uh,now,due to requirements of the federal,warrant act which meant its companies to,give a 60-day notice before Mass laughs,although those workers have been barred,from the company's internal System since,November they were formerly let go,January 4th in accordance with the law,what's more employees will not be,receiving their pro-rated performance,bonuses according to Twitter's Severance,material viewed by Fortune some,employees received Cobra which is money,for Health Care continuation a source,said it's not Cobra is not money Cobra,is the program and it's very expensive,I mean I expected him to F us he did an,impacted employee wrote to Fortune this,is about one-third of what he,contractually owes us based on the,purchase agreement I always love when uh,the the but this person spends a lot of,time on Reddit,although employees were given two months,pay during non-working period to comply,with the federal warrant act a lawyer,for two class action lawsuits against,Twitter claimed that such money could,not be included in the actual Severance,paid to employees that's ridiculous of,course it would be,not all impacted employees receive their,agreements multiple sources whole,Fortune the Agreements are being sent,out by a third party provider called the,CPT group and Louisville HR Services,it's not yet clear as to why some have,received their agreements well they sent,out these emails that of course went to,Spam folders,you know like of course,the website has you know an FAQ page,stating that the impacted employees can,anticipate payment within 45 days of,their signed agreement a downloadable an,additional faq's documents confirms that,employees will not be receiving,performance-based payouts or their,bonuses which were set to be paid out in,March and they will be no negotiation of,the agreement or the severance amount,listed,ice cold,now many of these people by the way were,people that willingly walked off the job,right remember they all posted those,Tick Tock videos about how stunning and,brave they were to to be getting to to,be self-selecting to not work there,anymore,well,on top of that Twitter makes more cuts,to Online safety teams,tour has made more cuts through stress,and safety team in charge of,international content moderation as well,as a unit overseeing hate speech and,harassment,well good I mean you know,I don't I don't really understand why,there's good,with musk of the helm Twitter has,suffered a public relations crisis,featuring firings resignations tumbling,revenues you don't know anything how,they know anything about their revenue,reluctant advertisers and lawsuits over,unpaid bills,the latest rental Cuts affected a dozen,people at Twitter's Dublin and Singapore,offices who requested anonymity uh among,them

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