Spotify’s revenue slow down will lead to 600 job losses, as tech giant becomes the latest to cull staff January 23, 2023 Spotify will be cutting its global workforce by nearly six per cent with around 600 people expected to lose their jobs. The music streaming platform has joined fellow tech giants including Amazon, Google, Meta and Twitter in laying off staff, with tens-of-thousands of workers being laid off in recent weeks. Last November Meta, the owner [...]
Veganuary: New £240m fake meat fund looks to disrupt and decarbonise the food industry January 23, 2023 Milltrust Ventures and Earth First Food Ventures are set to launch a new $300m (£242m) Smart Protein Fund tomorrow to back alternative proteins and decarbonise the food industry, City PM can reveal. Over $600m was invested in total in the cultivated meat sector last year, and the alternative protein market, which includes imitation meats [...]
Tech Nation ‘working round clock to secure future’ after Govt strips it of £12m contract and awards it to Barclays January 20, 2023 Start-up body Tech Nation said it is facing an existential crisis and was scrambling to secure funding for its future today, after the government stripped it of a major £12m government contract and handed it to Barclays. The Department for Culture, Media and Sport (DCMS) confirmed it had handed the new tech deal to Barclays [...]
Google: Parent firm Alphabet announces 12,000 sackings worldwide as CEO Sundar Pichai takes ‘full responsibility’ January 20, 2023 Google’s parent company Alphabet has become the latest Silicon Valley powerhouse to announce a raft of redundancies across its global workforce. The tech giant said today that it would cut six per cent of its global workforce, around 12,000 people worldwide. “I take full responsibility for the decisions that led us here,” chief executive Sundar [...]
Netflix drama: Chief executive Reed Hastings quits as big leadership shake up underway January 20, 2023 Netflix co-founder Reed Hastings has stepped down as chief executive but he is staying with the company as executive chairman. The American businessman said that Greg Peters will step up from COO to join Ted Sarandos as co-CEO of the company. Hastings said he is not ready to leave Netflix entirely but is taking more [...]
Sage’s sales climb to £517m as accountancy software giant sees boom for Cloud and subscription services January 19, 2023 Sage’s profits are on track to meet its 2023 full-year guidance after recurring revenue rose 12 per cent to £517m in the three months ended 31 December. This rise was boosted by a 31 per cent rise in Cloud sales and an 18 per cent hike in software subscription sales, £390m and £422m respectively. Jonathan [...]
A crypto scam nightmare January 19, 2023 People around the world are losing millions through a "pig butchering" scam - but it's got more to do with crypto than it does our porcine pals, writes Elena Siniscalco
Microsoft confirms it will cut 10,000 jobs January 18, 2023 Microsoft will be making 10,000 job cuts by the end of the third quarter of this year, the company said today confirming earlier reports. As incomes at Big Tech firms continue to decline, Microsoft has joined giants like Google and Twitter in laying off staff. Earlier today, Microsoft issued a statement, saying that the staff [...]
Twitter in trouble? Over 500 advertisers quit the platform after Musk takeover January 18, 2023 Over 500 advertisers have reportedly either pulled or paused their presence on Twitter following Elon Musk’s takeover of the website last autumn, according to a report by The Information. Major spenders including General Mills, Pfizer, Audi, Volkswagen and Mondelez are among some of the big names to have stopped advertising on Twitter since Musk’s took [...]
UK’s data watchdog to shift away from big fines to focus on prevention January 18, 2023 The UK’s data watchdog has vowed to shift away from simply hitting companies with big fines for breaching data privacy rules and instead will look to adopt a more preventative approach. John Edwards, head of the Information Commissioner’s Office, said today that he will focus on preventing data breaches from happening in the first place [...]
