Today's Technology News Summary
Spotify to lay off 17% of workforce
Spotify will axe almost a fifth of its workforce after warning that economic growth had slowed dramatically and it needed to cut costs as the music streaming giant seeks to turn subscriber growth into consistent profitability.
In a memo to staff on Monday, chief executive Daniel Ek said Spotify would cut about 17 percent of its global workforce, about 1,500 people. Spotify employs more than 9,000 people worldwide.
"I recognize this will impact a number of individuals who have made valuable contributions," Ek said. "To be blunt, many smart, talented, and hard-working people will be departing us."
TikTok's C.E.O. Uses Personal Touch to Address Antisemitism Concerns
The company in recent weeks organized several in-person meetings between its top executive and Jewish groups and business leaders.
Verizon's new Netflix and Max bundle costs $10 / month with ads
Verizon will soon offer customers a cheaper way to subscribe to Netflix and Max. Starting December 7th, myPlan customers can get a bundled subscription to both services for just $10 per month.
The bundle includes the ad-supported plans for Netflix and Max, each of which are priced at $6.99 and $9.99 per month, respectively. That means Verizon's bundle costs about $7 less than what you would pay for the two separate subscriptions. Read more
Documents: OpenAI signed a letter of intent in 2019 to spend $51M on brain-inspired chips developed by startup Rain AI, in which Sam Altman had invested $1M+
Documents show that OpenAI signed a letter of intent to spend $51 million on brain-inspired chips developed by startup Rain.
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