absorbs

GM absorbs commercial EV unit BrightDrop, CEO is out

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BrightDrop, the commercial EV subsidiary of General Motors that launched in 2021, is being swallowed up by its parent company. GM said Thursday that BrightDrop — a “startup” that spun out of the automaker’s Global Innovation organization to become a wholly owned subsidiary — will become part of GM. BrightDrop CEO Travis Katz, who was … Read more

Tumblr to run on skeleton crew as parent company Automattic absorbs staff

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According to a leaked memo, Tumblr’s longterm financial woes have reached a breaking point. Aside from a skeleton crew of essential workers in departments like trust and safety, the majority of Tumblr’s 139 workers will be reassigned to other products at parent company Automattic, which employs around 1,900 people. CEO Matt Mullenweg acknowledged the memo … Read more