Andreessen Horowitz Merges Fintech and Consumer Teams After Some Bets FizzleRead more

Data Point
media/telecom

Tech and Media Layoffs Surge in May, Taper in June

The volume of layoffs announced by technology and media companies surged in May, driven by a large round of cuts at IT services firm DXC Technology, before slowing in June. So far this year, tech and media companies have laid off far more employees than at this point in 2018, according to state regulatory filings, news reports and data collected by staffing firm Challenger, Gray & Christmas.

Layoffs in the two industries, including telecommunications, totaled 35,284 from January to the end of June 2019, compared with 14,315 over the same period last year, data from Challenger, Gray show. 

Get access to exclusive coverage
Read deeply reported stories from the largest newsroom in tech.
Latest Articles
 
Exclusive microsoft ai
Oracle’s Answer to the Microsoft-OpenAI Alliance: Cozying Up to Cohere
By Anissa Gardizy · June 9, 2023 2:08 PM PDT
Oracle co-founder talks to Elon Musk in Miami in May. Photo by Getty
Oracle has invested in Cohere, an artificial intelligence startup that competes with OpenAI, the startup said on Thursday. What Cohere didn’t say: Oracle plans to make the startup a centerpiece of its strategy to catch up to bigger cloud rivals that sell services powered by large-language models. Steve Miranda, a senior Oracle executive, has told employees the company plans to sell access...
Latest Briefs
 
Oracle Preps Cloud AI Pact with OpenAI Rival
By Amir Efrati · June 9, 2023
Andreessen Horowitz Restructures Investment Teams in AI Push
By Kate Clark and Erin Woo · June 9, 2023
Reddit CEO Cites Profit Push in Response to Backlash
By Isabelle Sarraf · June 9, 2023
Stay in the know
Receive a summary of the day's top tech news—distilled into one email.
Access on the go
View stories on our mobile app and tune into our weekly podcast.
Join live video Q&A’s
Deep-dive into topics like startups and autonomous vehicles with our top reporters and other executives.
Enjoy a clutter-free experience
Read without any banner ads.
CareRev co-founder Will Patterson stepped down as CEO last week. Art by Clark Miller
Exclusive startups venture capital
A Long, Strange Trip for the ‘Uber for Nurses’
By Paris Martineau
Will Patterson was on a hot streak. As the co-founder and CEO of CareRev—a gig-work platform sometimes described as an “Uber for nurses”—he saw his company’s business surge during the pandemic as hospitals and clinics scrambled to find healthcare workers.
Photo via Shutterstock.
Exclusive startups Finance
Inside the Culture Clash at JPMorgan and WePay
By Michael Roddan
When JPMorgan Chase struck a $400 million deal to buy WePay in late 2017, it pledged that the Bay Area fintech would become “Chase’s payments innovation incubator in Silicon Valley,” helping the country’s biggest bank compete with surging startups Stripe and Square and payments companies like PayPal.
Art by Clark Miller.
The Big Read space venture capital
The Overlapping Galaxies of Delian Asparouhov
By Margaux MacColl
Delian Asparouhov, newly minted Founders Fund partner and co-founder of Varda Space Industries, is obsessed with speed.
Marc Andreessen. Photo: Bloomberg.
Exclusive startups venture capital
Andreessen Horowitz Merges Fintech and Consumer Teams After Some Bets Fizzle
By Kate Clark and Erin Woo
Andreessen Horowitz has combined its finance and consumer investment teams into one, merging what were two of the hottest pandemic-era investment categories that have since cooled.
Peng Zhao, CEO of Citadel Securities. Photo by Bloomberg.
Exclusive ai venture capital
Wall Street Firm Citadel Securities Courts AI Startups for Trading Edge
By Jon Victor and Cory Weinberg
Citadel Securities, a prominent high-frequency trading firm, has told startup founders and investors it is looking to license software from artificial intelligence startups working on large-language models or to buy stakes in them, according to two people with knowledge of the conversations.
Adam D'Angelo photograph by Ko Sasaki. Art by Clark Miller
The 1:1 ai
Adam D’Angelo’s Endless Quest to Answer Everything
By Arielle Pardes
Adam D’Angelo is basking in an “ endless summer ” of artificial intelligence. A few weeks before he and 350 industry peers released a bizarre, one-line statement warning that AI could herald a nuclear-level extinction event, the 38-year-old co-founder of Quora told me he actually sees more upside in AI than downside.