When WHEN -0.26% Platforms Inc. will begin laying off employees Wednesday morning, CEO Mark Zuckerberg told hundreds of executives Tuesday. Mr. Zuckerberg appeared dejected at Tuesday’s meeting, saying he was responsible for the company’s missteps and that his overoptimism about growth had led to overstaffing, according to people familiar with the meeting. Meta’s chief human … Read more
When WHEN -0.26% Platforms Inc. will begin laying off employees Wednesday morning, CEO Mark Zuckerberg told hundreds of executives Tuesday. The upcoming layoffs are expected to amount to many thousands of employees and are likely to be the largest of the year so far in the tech sector, The Wall Street Journal previously reported. Mr. … Read more
Time, the publisher of Time magazine, has named Jessica Sibley as chief executive of the media company. Ms. Sibley is taking over Time’s business operations from current chief executive Edward Felsenthal, who will retain his role as editor in chief of the publication, the company said Monday. Mr. Felsenthal will also become executive chairman of … Read more
SINGAPORE — Chinese leaders are considering steps toward reopening after nearly three years of tough pandemic restrictions, but they are proceeding slowly and have not set a timeline, according to people familiar with the discussions. Chinese officials have grown concerned about the cost of their zero-tolerance approach to quelling Covid-19 outbreaks, which have resulted in … Read more
A unit of Walgreens Boots Alliance Inc. WBA 3.72% is nearing a deal to combine with a major owner of medical practices and urgent care centers in a transaction valued at about $9 billion including debt, according to people familiar with the matter, the latest in a series of acquisitions by large consumer-focused companies that … Read more
Some advertisers are concerned that Mr. Musk may scale back content moderation, which they worry will lead to an increase in objectionable content on the platform. Others are temporarily halting their ads because of the uncertainty in the company as top executives leave and Mr. Musk is considering a number of changes, some of the … Read more
Some advertisers are concerned that Mr. Musk may scale back content moderation, which they worry will lead to an increase in objectionable content on the platform. Others are temporarily halting their ads because of the uncertainty in the company as top executives leave and Mr. Musk is considering a number of changes, some of the … Read more
Longtime Chinese investor Tiger Global Management has paused investing in Chinese stocks, people familiar with the matter said, as the firm reevaluates its exposure to the world’s second-largest economy after President Xi Jinping cemented his control over the country. Tiger leaders, including founder Charles “Chase” Coleman, have told others that Mr Xi’s re-election and his … Read more
Lyft has more than 4,000 employees, not including drivers. Photo: Sebastian Hidalgo for The Wall Street Journal Updated November 3, 2022 at 12:05 PM ET Lyft Inc. LIFT -0.25% said it is cutting 13% of staff, or nearly 700 jobs, the latest technology company to say it needed to cut costs ahead of choppy economic … Read more
Wall Street’s top watchdog warns that a market selloff and fears of a recession could prompt more companies to cook their books, putting pressure on accountants to catch them. “The current economic environment is subject to significant uncertainties and, historically, often leads to increased risk of fraud,” Paul Munter, acting chief accounting officer at the … Read more