Facebook parent company Meta is reportedly considering another round of layoffs after cutting 11,000 positions, or 13 percent of its global workforce, in November. Meta made those cuts in a bid to lower costs and increase efficiency as it struggles with financial headwinds along with the rest of the tech sector. The company's much-hyped pivot to the metaverse has yet to pay dividends, and traditional forms of revenue such as advertising spending have fallen due to widespread economic uncertainty. Employees have reported being demoralized by the situation.
TWITTER CHARGING FOR TOOL
Twitter is getting pushback for charging $100 a month for a tool that cash-strapped nonprofits and researchers have come to rely on. Known as the API, or Application Programming Interface, the tool allows organizations to scan the platform for calls for help. Some users are sharing their API keys with do-gooder organizations, but activists are urging Twitter to remove the fee.
AMAZON ROBOTAXI
Zoox, an Amazon-owned startup, is now testing autonomous robotaxis with passengers in California. The company started the tests after getting approval from the state's Department of Motor Vehicles last week. The robotaxis are completely autonomous and have no steering wheels or pedals. They also have bi-directional driving capabilities, meaning they can move forward or backwards with ease. Right now, the permits only apply to a one-mile stretch of road between the Zoox offices and Foster City, California and will only be shuttling employees.
REMOTE WORK COST $12B IN NYC
A Bloomberg News analysis of exclusive data from Stanford University economist Nicholas Bloom found that remote work is costing New York City more than $12 billion a year. Work-from-home reduced the number of days in the office by 30 percent, which meant fewer commutes and fewer workers spending time in the city during the day. The analysis showed that the average worker is spending $4,661 less annually on things like shopping and food.
It's a tough time for the job market. Amid wider economic uncertainty, some analysts have said that businesses are at a “no-hire, no fire” standstill. At the same time, some sizeable layoffs have continued to pile up — raising worker anxieties across sectors. Some companies have pointed to rising operational costs due to U.S.'s new tariffs, while others have redirected money to artificial intelligence investments. Workers in the public sector have also been hit hard. Federal jobs were cut by the thousands earlier this year. And many workers are now going without pay as the U.S. government shutdown has now dragged on for more than a month.
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