BuzzFeed News to be shuttered in corporate cost cutting move – Business News
Photo: The Canadian Press
FILE – The entrance to BuzzFeed in New York was seen on Nov. 19, 2020. Pulitzer prize winning digital media company BuzzFeed is cutting about 15% of its staff, according to multiple media reports. In a memo sent to staff, co-founder and CEO Jonah Peretti said that the New York company was going to start the process of shutting down its news division, and that cuts would also occur across its business, content, tech and administrative teams. (AP Photo/Ted Shaffrey, File)
Pulitzer Prize winning digital media outlet BuzzFeed News is being shut down as part of…
Amazon to lay off 9,000 more workers
Amazon will lay off 9,000 more employees, CEO Andy Jassy said in a memo to staff on Monday.
The cuts are on top of the previous layoffs that commenced last November and extended into January. That round affected more than 18,000 employees.
Amazon made the decision to lay off more employees as it looks to streamline costs and take into account the uncertain economy, as well as the “uncertainty that exists in the near future,” Jassy said. The company just wrapped up the second phase of its annual budgeting process, referred to internally as “OP2.”
“The overriding tenet of our…
Judge denies Elizabeth Holmes’ request to stay out of prison while she appeals fraud conviction
A US District Court judge has ruled that Elizabeth Holmes, founder and CEO of the disgraced blood-testing company Theranos, cannot remain free on bail while she appeals her fraud conviction.
According to court documents filed Monday, Judge Edward Davila ruled that the portion of the conviction that Holmes is appealing is not likely to be overturned. A jury found Holmes guilty in January 2022 of four counts of fraud in connection with her leadership at Theranos. In November, she was sentenced to more than 11 years in prison.
In his latest decision, Davila noted Holmes is challenging her conviction based…
Police: Crypto firm founder Do Kwon arrested in Montenegro – Business News
Crypto founders arrested
The Associated Press – March 23, 2023 / 9:05 am | Stories: 417550
Photo: Terraform Labs
Police in Montenegro have arrested Terraform Labs founder Do Kwon, who is wanted in South Korea in connection with a $40 billion crash of the firm’s cryptocurrency that devastated retail investors around the world, the European country’s interior minister said Thursday.
“Montenegrin police arrested an individual who is believed to be one of the most wanted fugitives, South Korean citizen Do Kwon,” Interior Minister Filip Adzic said on Twitter.
Montenegrin authorities were awaiting official confirmation of the identity of a man…
