ByteDance’s gaming ambition has been an expensive, short-lived pursuit. In late 2021, the TikTok parent’s plans for video games came into the spotlight after it became one of the firm’s six core business units, posing a new threat to incumbents such as Tencent and NetEase and rising star MiHoYo. Nonetheless, after two years of tepid … Read more
Jane Fraser, CEO of Citigroup Inc., during an interview for an episode of “The David Rubenstein Show: Peer-to-Peer Conversations” at the Economic Club of Washington in Washington, D.C., March 22, 2023. Valerie Plesch | Bloomberg | Getty Images Citigroup will soon begin layoffs in CEO Jane Fraser’s corporate overhaul, CNBC has learned. Employees affected by … Read more
Jakub Porzycki | Nurphoto | Getty Images Amazon on Monday announced it will cut more than 180 jobs in its Amazon Games division as it refocuses its efforts on Prime Gaming, according to an internal company memo viewed by CNBC. The company will close its Game Growth and Crown Channel initiatives as part of the … Read more
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In its Q3 earnings report published Thursday, game development software company Unity announced that it will “likely” be implementing layoffs as part of broader cost saving measures. In the report, the company says it is assessing its product portfolio “to focus on those products that are most valuable to our customers” and is “evaluating the … Read more
Co-founder and CEO of Snap Inc. Evan Spiegel holds up a Pixy drone while speaking during the Viva Technology conference dedicated to innovation and startups, at the Porte de Versailles exhibition center in Paris, France June 17, 2022. Benoit Tessier | Reuters Snap has conducted a round of layoffs as part of a reorganization intended … Read more
CEO of Citigroup Jane Fraser testifies during a hearing before the House Committee on Financial Services at Rayburn House Office Building on Capitol Hill on September 21, 2022 in Washington, DC. Alex Wong | Getty Images When Citigroup CEO Jane Fraser announced in September that her sweeping corporate overhaul would result in an undisclosed number … Read more
Hey, folks, welcome to Week in Review (WiR), TechCrunch’s regular newsletter covering the past week in happenings around the tech sphere. Winter’s finally arrived, judging by the NYC weather outside my window — and a winter of a sort might be descending on the tech industry, too, as it unfortunately turns out. This edition of … Read more
Nio’s ET5 stands on display at the Central China International Auto Show on May 25, 2023, in Wuhan, China. Getty Images | Getty Images News | Getty Images Chinese electric carmaker Nio plans to cut 10% of its workforce amid “fierce competition,” CEO William Li said Friday. The job cuts will be completed by November. … Read more
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“Today is a sad day at Bungie as we say goodbye to colleagues who have all made a significant impact on our studio,” Bungie CEO Pete Parsons wrote on X, formerly Twitter. According to Bloomberg’s Jason Schreier, the layoffs come several weeks after a meeting in which execs said that Bungie’s revenue was 45 percent … Read more
Volkswagen’s software unit Cariad will delay the launch of its new software architecture yet again as it deals with a large round of layoffs. Just three years after VW created Cariad, and only six months after an executive shakeup, the unit has planned to cut 2,000 jobs, German publication Manager Magazin reported over the weekend. … Read more