Omar Marques | SOPA Images | Lightrocket | Getty Images Snap‘s shares jumped on Wednesday after the company announced plans to slash up to 16% of its global workforce, citing AI-driven efficiencies. CEO Evan Spiegel said in a letter to staff that the reduction would affect around 1,000 members of staff and that at least…
People gather at the Magic Kingdom theme park before the “Festival of Fantasy” parade at Walt Disney World in Orlando, Florida, U.S. July 30, 2022. Octavio Jones | Reuters Disney is planning to begin its next phase of cost cutting, which will include as many as 1,000 layoffs, according to a person familiar with the…
Oracle Corp. signage on the floor of the New York Stock Exchange (NYSE) in New York, US, on Wednesday, Dec. 31, 2025. Michael Nagle | Bloomberg | Getty Images Oracle stock traded flat on Wednesday as the multinational tech conglomerate looked to cut thousands of jobs to free up cash to build artificial intelligence data…
Software maker Oracle has started telling employees that it’s conducting a round of layoffs, two people familiar with the move told CNBC. The layoffs were in the thousands, said the people, who asked not to be identified to discuss a confidential matter. As of May 2025, the company employed 162,000 people. Oracle declined to comment….
The AI era is massively reshaping the workforce. As companies deal with a tight labor market, they’re looking to enhance productivity with technology. At the same time, workers are looking to boost their skills so that they too can evolve alongside their companies, not only ensuring they keep their jobs but advance in their careers….
Demand for new AI data centers is surging, but they can’t build themselves. Big Tech is funneling billions into building out these specialized facilities, with the four hyperscalers, Alphabet, Microsoft, Meta, and Amazon, committing nearly $700 billion in combined capex spending this year to fund these developments. Amazon said last month that it’s committing $12…
Omar Marques | Lightrocket | Getty Images Cryptocurrency trading platform Crypto.com announced Thursday that it is laying off 12% of its staff as the company integrates artificial intelligence. “We are joining the list of companies integrating enterprise-wide AI. Companies that do not make this pivot immediately will fail,” CEO Kris Marszalek posted on X. “As…
Block CEO Jack Dorsey’s move to cut nearly half the company’s workforce is shining a spotlight on a growing question for corporate America: whether advances in artificial intelligence will ultimately mean fewer workers. In an earnings call Thursday, Dorsey said Block will cut about 4,000 jobs. Dorsey framed the move as more than a cost-cutting…
Block said Thursday it’s laying off more than 4,000 employees, or about half of its head count. The stock skyrocketed more than 24% in extended trading. “Today we shared a difficult decision with our team,” Jack Dorsey, Block’s co-founder and CEO, wrote in a letter to shareholders. “We’re reducing Block by nearly half, from over…
Last spring, Chantel Williams’ position in the federal government was in limbo. Williams, once a General Services Administration employee on its hiring and recruitment team, found herself in a state of confusion and anxiety. The agency she worked for was in a holding pattern as Elon Musk’s so-called Department of Government Efficiency began its work…
