Twitter said Friday that its second-quarter revenue, free cash flow and earnings dramatically worsened from the same period a year ago amid an advertising pull-back and looming recession. For Twitter, the year-over-year revenue drop of less than 1%, to $1.18 billion, was the first such decline since the beginning of the pandemic. Just as concerning: Twitter burned $125 million in cash in the...
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Amazon Takes Its Time Delivering Second Round of Job Cuts
Amazon is in the lead! The e-commerce behemoth has moved ahead of Alphabet in the contest to win this year’s IBM Cup, awarded occasionally to the most bureaucratic and slow-moving big tech company around. That’s one takeaway from Amazon CEO Andy Jassy’s explanation today for cutting another 9,000 jobs, on top of the 18,000 layoffs already announced. Jassy said in November the job cuts flowed...
FTX Sues Liquidators of Bahamas Unit
Flagstar Acquires Most of Signature Bank, Excluding Crypto Business
Amazon Laying Off 9,000 More Employees, Including in AWS, Ads, Twitch
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