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Snapchat Parent Cutting 20% of Workforce

Snapchat’s parent company is slashing staff and scaling back investments in straggling businesses, an attempt to rein in costs following a slowdown in ad revenue growth. Snap Inc. is cutting about 20% of its workforce, Chief Executive Officer Evan Spiegel said in an internal memo sent to staff Tuesday. The news sending the stock tumbling in the premarket. Abigail Doolittle reports…

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Snapchat’s parent company is slashing staff and scaling back investments in straggling businesses, an attempt to rein in costs following a slowdown in ad revenue growth. Snap Inc. is cutting about 20% of its workforce, Chief Executive Officer Evan Spiegel said in an internal memo sent to staff Tuesday. The news sending the stock tumbling in the premarket. Abigail Doolittle reports on “Bloomberg the Open.”

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4 Comments

4 Comments

  1. G. Jets

    August 31, 2022 at 2:36 pm

    this is only the beginning, PREPARE…

  2. Ace

    August 31, 2022 at 5:27 pm

    They should of pulled a Tik Tok before TikTok

  3. Shahar Rozenbloom

    August 31, 2022 at 11:01 pm

    Apple Could Add Google and AWS and Ajure Cloud to Apps Easy in killer idea even with Code in new Service in killer idea Tim for Tens of Billions in Patent even add Lower Price by Large Amounts.

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Science & Technology

Why So Many Companies Are Now Chasing Neoclouds

While OpenAI is busy building its own chips, Groq, SpaceX, and even companies that used to make shoes are racing to lease out compute. The Equity Podcast crew asks: Are neoclouds the new oil? And how long will the demand last?

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While OpenAI is busy building its own chips, Groq, SpaceX, and even companies that used to make shoes are racing to lease out compute.

The Equity Podcast crew asks: Are neoclouds the new oil? And how long will the demand last?

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Bloomberg Technology

iPhone Price Hikes Will Come, Says IDC

Apple announced price hikes across its hardware products, citing unprecedented price gains in memory chips. Missing from that price hike list, for now, is the iPhone. Nabila Popal, Senior Research Director at IDC, joins Ed Ludlow on “Bloomberg Tech.” ——– Like this video? Subscribe to Bloomberg Technology on YouTube:   Watch the latest full episodes…

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Apple announced price hikes across its hardware products, citing unprecedented price gains in memory chips. Missing from that price hike list, for now, is the iPhone. Nabila Popal, Senior Research Director at IDC, joins Ed Ludlow on “Bloomberg Tech.”
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Bloomberg Technology

OpenAI Weighs IPO in 2027 | Bloomberg Tech 6/26/2026

Bloomberg’s Ed Ludlow breaks down OpenAI’s decision to potentially hold off on an IPO until next year – sending shares of SoftBank falling. Plus, global tech stocks drop after Apple hikes hardware price due to a memory crunch, and SpaceX’s $25 billion bond sale is off to a rocky start. ——– Like this video? Subscribe…

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Bloomberg’s Ed Ludlow breaks down OpenAI’s decision to potentially hold off on an IPO until next year – sending shares of SoftBank falling. Plus, global tech stocks drop after Apple hikes hardware price due to a memory crunch, and SpaceX’s $25 billion bond sale is off to a rocky start.
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Watch the latest full episodes of “Bloomberg Technology” with Caroline Hyde and Ed Ludlow here:

 
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