Execs

Coinbase is laying off almost a fifth of its workforce amid a collapse in its stock and crypto prices.The cryptocurrency exchange will cut 18% of full-time jobs, according to an email sent to employees Tuesday morning. Coinbase has roughly 5,000 full-time workers, translating to a head count reduction of around 1,100 people.Shares of Coinbase closed down .83%.CEO Brian Armstrong pointed to a possible recession, and a need to manage Coinbase's burn rate and increase efficiency. He also said the company grew "too quickly"…

Elon Musk emailed Tesla executives on Thursday, Reuters reports, telling them the company needs to pause hiring worldwide and cut its workforce by about 10 percent. At the end of 2021, Tesla said in a filing that it had 99,290 employees worldwide. In the email seen by Reuters, Musk cites his “super bad feeling” about the economy. One thing to note is that widespread layoffs aren’t an unusual practice for Musk and Tesla. It cut hundreds of workers in October 2017, nine percent of staff in June 2018, and about seven…

Elon Musk has said he won't move forward with his $44 billion Twitter acquisition until he has more details about fake accounts on the platform, but he met with the company's top brass for three days to discuss its business before he publicly announced his bid, according to a new securities filing.The filing with the Securities and Exchange Commission doesn't specify what was discussed or if Musk brought up his concerns about the bots during the meetings.In late March and early April, Musk held discussions with Twitter…

A person in a mask approaches the New York Twitter offices after they announced they will close their re-opened offices effective immediately in response to updated CDC guidelines during the outbreak of the coronavirus disease (COVID-19) in Manhattan, New York City, U.S., July 29, 2021.Andrew Kelly | ReutersTwitter is pausing most hiring and two executives are leaving the company, a spokesperson confirmed on Thursday.The news comes as billionaire Elon Musk seeks to complete his $44 billion deal to buy the company and take…

On Thursday, Twitter CEO Parag Agrawal announced a number of big shakeups within the company in an email to staff, including firing consumer product leader Kayvon Beykpour and head of revenue product Bruce Falck. The company is pausing most hiring and pulling back on spending in most areas, though it’s not currently planning any layoffs. It’s a strange, uneasy moment inside Twitter, as the company prepares for Elon Musk’s $44 billion acquisition to close later this fall. It’s not entirely clear why Agrawal made these…

Twitter is shaking up its top leadership. The first move came as consumer product leader Kayvon Beykpour announced on Twitter that current CEO Parag Agrawal “asked me to leave after letting me know that he wants to take the team in a different direction.” The New York Times reports that in an email to employees, Agrawal announced Bruce Falck, the general manager of revenue and head of product for its business side, is leaving. In the email he said the company is pausing most hiring and pulling back on spending, but is…

Corsair, the pirate-themed RGB manufacturer from California, predicts a 'surge' of new PCs will be built as the GPU market returns to normality. This act of technomancy comes as the firm's gamer and creator peripherals segment increased its revenue 23.7% year-on-year to contribute to a 23.4% increase in net revenue, according to figures released as part of its first-quarter 2022 financial results.(Image credit: Corsair)"We expect that with GPU and CPU products becoming available and reasonably priced, we will see a surge…