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Technology

Spotify will reduce its workforce by 6 percent

In an effort to prepare for a possible recession, music streaming company Spotify Technology announced on Monday that it is planning to lay off 6% of its employees. This is approximately 600 jobs, adding to the glut of layoffs in the…

40 percent revenue drop at Twitter amid ad squeeze

According to reports, Twitter continues to be in the midst of an advertising squeeze. This is because the social media platform has seen a 40% reduction in revenue after over 500 clients ceased spending on the platform. Twitter’s daily…

Satellite launch by Britain ends in failure

After Virgin Orbit reported an anomaly that prevented its rocket from reaching orbit early on Tuesday, Britain's attempt to become the first European nation to launch satellites into space ended in bitter disappointment. The "horizontal…

Microsoft in talks to invest $10 billion in ChatGPT

In a report published on Monday, Semafor quoted people familiar with the matter as saying Microsoft Corporation is discussing investing $10 billion in OpenAI, the owner of ChatGPT. This would value the San Francisco-based company at $29…

Profits at Samsung plunge as gadget demand slows

For the last three months of 2022, Samsung expects its profits to decline by 69% to the lowest level in eight years. The world's largest manufacturer of memory chips, smartphones and TVs predicted that its operating profit for the period…