tech industry – News Stories About tech industry - Page 1

Report: Cash App Founder Bob Lee Stabbed to Death in SF

DA Condemns 'Horrific'
Killing of Cash App Founder

UPDATED

Apr 5, 2023 4:43 PM CDT

DA Condemns 'Horrific' Killing of Cash App Founder

Bob Lee was fatally stabbed in San Francisco

(Newser) - This story has been updated with new developments. San Francisco Mayor London Breed has condemned the killing of a tech luminary who was reportedly stabbed to death in the city early Tuesday. Breed described the death of Bob Lee, founder of Cash App and chief product officer of crypto startup...

Largest Bank Collapse
Since 2008 Just Went Down

Mar 10, 2023 11:40 AM CST

Largest Bank Collapse Since 2008 Just Went Down

FDIC shutters Silicon Valley Bank, seizes its assets

(Newser) - The Federal Deposit Insurance Corporation seized the assets of Silicon Valley Bank on Friday, marking the largest bank failure since Washington Mutual during the height of the 2008 financial crisis. The FDIC ordered the closure of SVB and immediately took possession of all deposits at the bank. The bank had...

Spotify Plans Layoffs, After
Boss Concedes Miscalculation

Jan 23, 2023 5:55 PM CST

Spotify Plans Layoffs, After Boss Concedes Miscalculation

Streaming platform will cut about 600 employees

(Newser) - Chief executive Daniel Ek told employees Monday that Spotify has been cutting costs for months. "It simply hasn't been enough," the staff memo said. So about 600 employees, 6% of the workforce, will lose their jobs, the New York Times reports. Government filings show the audio streaming...

Microsoft Added 40K Jobs
in 2022. Now, an About-Face

Jan 18, 2023 9:05 AM CST

Microsoft Added 40K Jobs in 2022. Now, an About-Face

Company on Wednesday announced 10K jobs would be cut

(Newser) - Add Microsoft to the ever-growing list of tech companies announcing 4- and 5-figure layoffs. The company on Wednesday said it would lay off 10,000 employees, or roughly 5% of its 221,000-person workforce, by the quarter ending March 31, with layoffs beginning this week, reports CNBC . CEO Satya Nadella...

DoorDash Becomes Next Tech Player to Shed Jobs

The Bloodletting
Comes to DoorDash

Nov 30, 2022 2:25 PM CST

The Bloodletting Comes to DoorDash

More than 1K corporate employees were laid off Wednesday

(Newser) - DoorDash shares are down more than 60% for the year but saw a bump on Wednesday after the company announced it was axing 1,250 corporate employees as a cost-cutting measure. CNBC reports it had 8,600 such employees at the end of last year; the AP reports the cuts...

Beware of Chinese Spying,
Heads of FBI, MI5 Warn

Jul 6, 2022 7:05 PM CDT

Beware of Chinese Spying, Heads of FBI, MI5 Warn

Tech is most at risk, directors tell business, education leaders in London

(Newser) - Seeking maximum impact, the heads of the FBI and Britain's MI5 stood together Wednesday to warn of the danger of Chinese espionage. Western technology companies are especially at risk of losing intellectual property, the two told chief executives at Thames House, headquarters of the British domestic security agency, in...

Workers in One Sector Are
Seeing Lots of Layoffs

Workers in One Sector Are Seeing Lots of Layoffs

The post-pandemic economy isn't turning out the way some investors hoped

(Newser) - Overall, the US job market remains strong, according to the Labor Department’s latest jobs report, which shows US employers added 428,000 jobs in May amid record-high job openings. Meanwhile, per Reuters, layoffs and unemployment claims remain far below levels that might signal an economic downturn. "A low...

Is the Tech
Bubble
Bursting?

May 10, 2022 6:30 AM CDT

Is the Tech Bubble Bursting?

Leading companies have lost $1T in value in just 3 days, reports CNBC

(Newser) - Soaring tech stocks hit all kinds of milestones as they led a market resurgence. Now comes a milestone of the opposite variety: CNBC reports that the biggest companies in the sector have lost a combined $1 trillion in value in just the last three days of trading. Apple has fared...

What Happens When Engineers
Are Told to Make Deliveries?

Dec 28, 2021 4:13 PM CST

What Happens When Engineers Are Told to Make Deliveries?

At least one six-figure employee had some salty language about DoorDash program

(Newser) - Asking an engineer making a six-figure salary to do a basic job is not the craziest idea—plenty of companies expect senior and management-level employees to work entry-level positions. It’s not an old-fashioned idea, or one alien to tech, either. Zappos has its engineers and execs work customer service...

Apple Flips on Right to Repair,
Will Sell Parts to Consumers

Nov 17, 2021 7:10 PM CST

Apple Flips on Right to Repair, Will Sell Parts to Consumers

Program to start with iPhone 12 and 13 next year, then add Macs

(Newser) - In a victory for the right-to-repair movement, as well as owners of Apple products, the company soon will permit DIY repairs. Apple announced Wednesday that it will provide instructions on home repairs, as well as start selling more than 200 parts and the necessary tools, the Verge reports. Until now,...

Frances Haugen's Fight
Has a Billionaire Backer

Oct 21, 2021 6:37 AM CDT

Frances Haugen's Fight Has a Billionaire Backer

EBay founder Pierre Omidyar's organizations are giving financial support to Facebook whistleblower

(Newser) - Frances Haugen's fight against Facebook is receiving funding from a billionaire: tech critic and eBay founder Pierre Omidyar. Omidyar's global philanthropic organization Luminate gave $150,000 last year to nonprofit Whistleblower Aid, which is handling Haugen's legal representation , Politico reports. However, Whistleblower Aid is also seeking donations...

Calls for a New 'Moonshot,'
This Time for an Earthly Worry

the rundown

Apr 13, 2021 8:57 AM CDT

Calls for a New 'Moonshot,' This Time for an Earthly Worry

Intel CEO says the US needs to reclaim its leadership on semiconductors

(Newser) - The world is facing a shortage of semiconductor chips, and the ramifications can be seen in the temporary closing of several US auto plants around the country, reports NPR . The chips are crucial to more than automobiles, however, and the supply crunch threatens to slow economic recovery from the pandemic....

Bumble's Debut
Makes CEO
a Billionaire

Feb 11, 2021 5:55 PM CST

Bumble's Debut Makes CEO a Billionaire

Few self-made women have achieved such wealth

(Newser) - Shares of Bumble reached $72 on Thursday afternoon in the company's market debut, making its chief executive not only wealthy but a rarity. That price meant that Whitney Wolfe Herd's shares were worth $1.5 billion. Few tech entrepreuners bursting into such territory are women, Bloomberg reports; 559...

Founder of
Electronics
Dynasty
Has Died

Oct 25, 2020 12:00 PM CDT

Founder of Electronics Dynasty Has Died

Lee Kun-hee transformed Samsung

(Newser) - The man who turned Samsung into a tech powerhouse—and nearly lost it all amid white-collar crime convictions—died Sunday in Seoul, the Washington Post reports. Lee Kun-hee was 78. "Chairman Lee was a true visionary who transformed Samsung into the world-leading innovator and industrial powerhouse from a local...

Guy Accused
of Beheading
His Boss Had
'Mystery' Date

the rundown

Jul 19, 2020 3:40 PM CDT

Guy Accused of Beheading His Boss Had 'Mystery' Date

Tyrese Haspil's attorneys ask the public to 'keep an open mind'

(Newser) - The executive assistant who allegedly dismembered his boss this week has pleaded not guilty to second-degree murder, CNN reports. Tyrese Haspil, 21, who apparently has no criminal record, is accused of decapitating and cutting up tech entrepreneur Fahim Saleh at the CEO's Manhattan condo. "We are in the...

Vine Founder
Texted 'Candyshop'
Before OD Death

Oct 3, 2019 7:40 AM CDT

Vine Founder Texted 'Candyshop' Before OD Death

6 charged with conspiring to distribute drugs in NYC

(Newser) - Six people who allegedly operated a drug delivery service called Mike's Candyshop have been arrested in connection with the overdose death of Vine founder Colin Kroll. The suspects, ages 25 to 38, each face a mandatory minimum sentence of 10 years in prison on a charge of conspiring to...

Job Ad: 'Preferably Caucasian'

Apr 30, 2019 8:51 AM CDT

Job Ad: 'Preferably Caucasian'

Cynet Systems is in hot water, apologizing profusely over employment ad posted online

(Newser) - A tech company counting "inclusivity & equality" among its core values is apologizing after one of its job listings requested a "preferably Caucasian" candidate. "How could you POSSIBLY think that's okay?" Florida coder Helena McCabe tweeted to Virginia-based tech recruiting firm Cynet Systems on Saturday, though...

Warren Ads Calling for
Facebook Breakup
Yanked by Facebook

Mar 12, 2019 7:32 AM CDT

Warren Ads Calling for Facebook Breakup Yanked by Facebook

Citing modified logo, company will restore ads to allow 'robust debate'

(Newser) - Facebook may have inadvertently illustrated Elizabeth Warren's point about the consolidation of power by tech giants like itself. The social media company removed numerous ads calling for the breakup of Facebook, Amazon, and Google, published Friday by Warren's presidential campaign. "They've bulldozed competition, used our private...

Microsoft Puts Its Money Where
Seattle's Housing Crisis Is

Jan 17, 2019 7:41 AM CST

Microsoft Puts Its Money Where Seattle's Housing Crisis Is

$500M to go to affordable housing, homeless services within 3 years

(Newser) - Microsoft is looking to ensure a roof over employees' heads, putting up $500 million to assist with affordable housing in the Seattle area. The funds will help create homes for Microsoft's cafeteria workers and shuttle drivers, as well as other middle- and low-income residents, reports the New York Times...

Vine Founder Dead at 35

Dec 16, 2018 3:53 PM CST

Vine Founder Dead at 35

Colin Kroll was discovered in his New York apartment

(Newser) - Colin Kroll, a tech executive who co-founded the HQ Trivia app, has died. He was 35, the AP reports. The New York Police Department says officers went to Kroll's Manhattan apartment early Sunday after getting a call asking for a wellness check on him. They found him unconscious and...