marketcrash
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Big Tech
04/07/2023
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By Ramon Tomey
Google tightens belt, implements cost-cutting measures like removing snack bars and staplers
Search engine giant Google has begun implementing cost-cutting measures, as confirmed by the company’s chief financial officer. Google CFO Ruth Porat broke the news in a March 31 email sent to all employees of the Mountain View, California-based technology firm. Her email said the cost-cutting measures aimed to “deliver durable savings through improved velocity and […]
04/06/2023
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By Cassie B.
Elon Musk asks judge to toss $258 billion racketeering lawsuit against him over Dogecoin support
Elon Musk has asked a judge to toss out a $258 billion racketeering lawsuit stemming from his support for the meme cryptocurrency dogecoin. The suit was filed by a group of investors who accused Musk of intentionally driving up the price of Dogecoin by more than 36,000 percent across a period of two years before […]
03/29/2023
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By News Editors
Get woke, go broke: Twitch streaming service to sack 36% of employees
The collapse of the woke tech industry continues to accelerate this month with numerous companies announcing major layoffs and some of them on the verge of bankruptcy. (Article by Tyler Durden republished from ZeroHedge.com) The culture of ESG status, which is rooted in far-left identity politics, climate change hysteria and the World Economic Forum’s concept of […]
03/27/2023
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By News Editors
Cashless society: Panera Bread debuts “frictionless” palm payment system
Amazon’s palm-reading payment technology was first introduced at numerous Whole Foods locations in California, enabling customers to pay for their groceries by scanning their palms at checkout terminals rather than using cash or a card. Now Panera Bread is experimenting with Amazon’s cashless payment system as the war on cash marches on. (Article by Tyler […]
03/23/2023
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By News Editors
Many companies are already on their second round of mass layoffs
We haven’t seen a tsunami of layoffs like this since the Great Recession. According to Challenger, Gray & Christmas, the number of job cuts announced in January and February was 427 percent higher than during the same period in 2022. Unfortunately, the mass layoffs have just continued to roll on here in March. If corporate executives believed […]
03/17/2023
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By Oliver Young
Mark Zuckerberg announces plan to cut 10,000 Meta employees in the next 2 months
Meta CEO Mark Zuckerberg has touted 2023 as the company’s “year of efficiency.” That means more employees are on the chopping block. On Tuesday, March 14, Zuckerberg announced the company’s plan to cut 10,000 employees in the next two months – just short of the 11,000 it laid off in November, which equated to roughly […]
03/15/2023
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By News Editors
EXCLUSIVE: Senator Mark Kelly called for social media censorship to prevent bank runs
During a conference call about the Silicon Valley Bank bailout yesterday, Senator Mark Kelly (D-AZ) asked representatives from the Federal Reserve, Treasury Department, and the Federal Deposit and Insurance Corporation (FDIC) if they had a way to censor information on social media to prevent a run on the banks, according to Republican members of the […]
02/23/2023
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By Ramon Tomey
Kyocera president: Business model of producing in China and exporting abroad no longer viable
Hideo Tanimoto, president of Japanese chip manufacturer Kyocera, believes the tandem of Chinese production and global exports is “no longer viable.” Tanimoto made the remark during an interview with the Financial Times (FT). “It works as long as [products are] made in China and sold in China. But the business model of producing in China […]
02/23/2023
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By Kevin Hughes
PAY UP! Elon Musk-led Twitter now facing more than $14M in unpaid bills
Social media giant Twitter – now led by Elon Musk – is now barraged by lawsuits demanding that it pay its bills amounting to more than $14 million plus interest. At least nine lawsuits were filed by landlords, consultants and vendors who, in the past months, have demanded payments. The suits came amid the company […]
02/22/2023
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By Belle Carter
Internal sources: Apple secretly firing contractors to cut costs despite job security assurances by CEO
Sources from within tech giant Apple disclosed that the company has been quietly axing contractors to cut costs. The revelation came amid previous assurances from Apple CEO Tim Cook that layoffs would be a “last resort.” The Cupertino, California-based company resorted to this move to avoid mass retrenchment of direct hires. Other companies such as Amazon, […]
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