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+1 +1
Finbook| Digital Wallets and Beyond: Finance's Tech Revolutionsss
An entrepreneurial path entails effort, energy, investment, hard work, and challenges; these elements together can transform your business concept into a delightful reality to treasure. With the correct strategy, planning, and attitude, you may not only establish your firm but also give it a distinct start.
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+33 +1
Amazon’s Ring doorbell was used to spy on customers, FTC says in privacy case
In the agency’s latest effort to hold big tech accountable, the company agreed to settle the privacy violations for $5.8m
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+26 +1
Meta's Record-Breaking Fine: A Deep Dive into the $1.3 Billion EU Privacy Violation
In a landmark ruling, Meta, the parent company of Facebook, was slapped with a record-breaking fine of €1.2 billion (approximately $1.3 billion) by the European Union for violating its stringent privacy policies. This fine is the largest ever imposed under the General Data Protection Regulations (GDPR), a set of rules designed to protect customer privacy in the European Union.
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+30 +1
CEO Tim Cook says layoffs are a 'last resort' and not something Apple is considering right now
Apple doesn't have plans for big layoffs, CEO Tim Cook told CNBC while discussing the company's earnings on Thursday.
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+12 +1
IBM chief says employees' careers could suffer and promotions may be harder to achieve if they work from home
IBM's CEO, Arvind Krishna, says employees' careers could suffer if they work from home. Krishna told Bloomberg during a Monday interview that although he wasn't forcing his own staffers back to the office, he thought remote workers may struggle to get promotions.
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+29 +1
Shopify to reduce workforce by 20%, sells logistics business to Flexport for 13% equity
Shopify is laying off 20% of its workforce, impacting some 2,000 people, and is selling its logistics business to Flexport for 13% in stock.
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+29 +1
Some Apple staff are sounding off about Tim Cook's back-to-office drive and say it's 'silly, and very un-Apple'
Some Apple staff are not happy about CEO Tim Cook's back-to-the-office drive, which he's previously said was essential for the company. The iPhone maker emailed employees in March threatening to take action against those not going in at least three days a week.
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+27 +1
Ex-Apple employee owes $19 million for elaborate fraud scheme
A former Apple employee will go to prison for a scheme that defrauded the Bay Area-based tech giant of more than $17 million, and he has been ordered to pay for what he stole. Dhirendra Prasad received the three-year prison sentence Wednesday in federal court after pleading guilty to charges of conspiracy to commit mail and wire fraud, as well as a charge of conspiracy to defraud the United States. The San Jose judge also ordered Prasad to forfeit millions of dollars’ worth of assets and pay restitution: $17,398,104 to Apple and $1,872,579 to the Internal Revenue Service.
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+3 +1
Meta is one of the most brutal tech job-choppers so far, axing about a quarter of employees
Meta has laid off nearly a quarter of all employees since November. This ranks it second in a list of major tech firms who cut the most jobs
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+24 +1
Big Tech Companies Are Testing How Far They Can Slash Staff
Even as Elon Musk has upended Twitter, the site, with thousands-fewer employees, is still functioning. Meta, Google, and Amazon are operating with dramatically scaled-back workforces. With AI on the rise, the industry may not be getting these jobs back.
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+18 +1
Some laid-off staff at Google's Irish office could be given severance packages worth $320,000, report says
Google staffers in Ireland made redundant as part of the company's 12,000 global cuts could be offered severance packages worth more than €300,000 ($320,000), British newspaper the Sunday Times reported this week. The tech giant announced plans to lay off over 12,000 workers globally in January, in a major cost-cutting drive. Some 240 workers at its Irish offices were affected including 85 in sales, 80 in technology, and 75 in support services, according to the Sunday Times.
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+4 +1
Government and Bank of England facilitate sale of Silicon Valley Bank UK
Silicon Valley Bank (UK) Ltd has today been sold to HSBC. HSBC is headquartered in London, is the largest bank in Europe and is one of the world’s largest banking and financial services institutions, serving 39 million customers globally. Customers of SVB UK will be able to access their deposits and banking services as normal from today.
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+14 +1
California Proposes Bill to Protect Contract Workers from Sudden Layoffs
Assembly Member Matt Haney, D-San Francisco, has proposed a bill that would extend the Worker Adjustment and Retraining Notification Act (WARN) to cover contract workers, increase the required notice period for layoffs to 90 days, and ban companies from requiring terminated workers to sign non-disclosure or non-disparagement agreements as a condition of receiving WARN Act notice or pay.
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+22 +1
Amazon's corporate employees will be paid up to 50% less in 2023 because of its falling stock price, report says
Some Amazon corporate employees will be be paid as much as 50% less than previously expected in 2023 because of the company's falling stock price, the Wall Street Journal reported on Monday. Salaries this year are likely 15% to 50% lower than the estimations given to Amazon staff, people familiar with the matter told the Journal. Employees' annual salaries are generally made up of cash compensation and awards of restricted stock units, but because of the 35% decline in Amazon's stock this year, total compensation is set to drop sharply.
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CEOs need to be experts in social psychology and motivation
As a CEO, there are many things you need to be an expert in, but you can’t be an expert in everything. You must rely on the expertise in the organization to create the right strategy and make the right decisions. But one area where it pays for you to have greater expertise is social psychology – to understand just what it is that makes people tick.
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+23 +1
Reddit reportedly revives plans to go public, but it's likely to be worth way less than the $15 billion it once hoped for
Reddit, the birthplace of the meme stock craze, is reviving its plan to go public, The Information reported — but the social media platform is likely to be worth way less than its once hoped-for $15 billion valuation. The company is planning to list on the stock exchange in the second half of 2023 through an initial public offering, The Information reported Tuesday, citing people familiar with the matter.
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+18 +1
Salesforce CEO says he took a 10-day 'digital detox' trip to French Polynesia in the wake of company layoffs
Salesforce CEO Marc Benioff told NYT he went to French Polynesia for a device-free trip after layoffs, and said the "digital detox" was "freeing."
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+19 +1
Laid-off Google workers say the impersonal way the company let them go shows it's 'just as cutthroat corporate as anybody else'
"It feels very much like they are just as cutthroat corporate as anybody else," one laid-off employee said. "The crown has fallen here."
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+17 +1
What Big Tech CEOs are saying about their companies' layoffs
Online payments company Paypal recently announced it would be laying off 2,000 employees, or about 7 percent of the its workforce. In a press release, PayPal CEO Dan Schulman said the slumping economy was mostly to blame for the job cuts, while simultaneously praising the company's ongoing restructuring efforts.
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+24 +1
Tech layoffs shrink ‘trust and safety’ teams, raising fears of backsliding efforts to curb online abuse
“Fewer people means less work is being done in a lot of different spaces,” said one of Twitter’s remaining content moderation staffers.
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