Business

Twitch to layoff over 400 alongside Amazon's latest cuts

Twitch announced today that it would be laying off over 400 employees alongside Amazon's layoffs of around 9,000.

Meta announces 10,000 additional layoffs in restructuring plans

The company shared restructuring plans as part of its 'Year of Efficiency' which includes additional layoffs and reduced hiring rates.

Federal Reserve, FDIC & U.S. Treasury announce plans to protect Silicon Valley Bank depositors

The joint effort in the creation of this backstop is to make depositors whole and is not a bailout for SVB or its shareholders.

Silicon Valley Bank (SIVB) closed by regulators, insured deposits to be protected by FDIC

As SVB has been closed and its deposits have been taken over, the Federal Deposit Insurance Corp. has announced that insured depositors will have access by Monday.

SVB Financial (SIVB) stock crashes another 60% as bank seeks sale following failed capital raise

Silicon Valley Bank's stock has been in a tailspin since the group announced it would be seeking to raise billions in capital to cover losses.

SVB Financial (SIVB) stock crashes 50% as tech investment bank seeks to raise more cash

The tech-focused bank announced a plan to raise over $2 billion in capital in an attempt to offset losses on bond sales.

Crypto giant Silvergate Capital is shutting down operations and liquidating its bank

Silvergate Bank will wind down operations and be voluntarily liquidated. Its Silvergate Exchange Network payment platform was already suspended.

Google CEO defends desk-sharing saying offices are 'like a ghost town'

According to Google CEO Sundar Pichai, desk-sharing is a way to be efficient and save money.

Facebook (META) allegedly planning further layoffs as early as this week

Even after a mass layoff late in 2022, thousands of further jobs at the Meta company may be on the line this week as the company continues to cut costs.