Amazon Plans to Close Some Grocery and Convenience Stores
Amazon recorded a $720 million charge from costs including breaking leases and closing stores, Olsavsky said.
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Recent Editions
Amazon Sees AWS Slowdown Lasting For Several Quarters
Amazon’s chief financial officer Brian Olsavsky said the company expects to “to see some slower growth rates for the next few quarters.”
Investor Paul Wachter Becomes New Board Chairman of United Talent Agency
Wachter, CEO of Main Street Advisors, is a prominent investor in media, entertainment and sports. He joins UTA as the firm expands its business through investments and acquisitions.
Three Top Twitter Engineers Depart Company
The departures add what was already a revolving door among Twitter’s engineering leadership.
Salesforce Reveals More Layoffs, App Marketplace Chief Steps Down
Salesforce appears to have laid off thousands more employees as part of the 10% workforce reduction it revealed in early January.
Chainalysis Lays Off 5% of Workforce
Chainalysis was last valued at $8.6 billion after raising $170 million in a round led by Singapore’s sovereign wealth fund GIC.
Pressure Mounts on TikTok as Prominent Democrat Calls for Ban
TikTok CEO Shou Zi Chew is set to testify before Congress in March.
TikTok Meets Republican Lawmaker to Discuss Data Security Plans
The meeting, however, didn't change Republican congressman Mike Gallagher's mind about seeking a ban on TikTok in the U.S.
Coatue General Partner David Cahn Departs for Sequoia Capital
Cahn spent five years at Coatue, where he was involved with artificial intelligence investments including Stability AI.
Tiger Global Reportedly Lowers Fundraising Target
The new target indicates weakening demand to back one of the tech boom’s most prolific investors.
Meta Platforms’ Revenue and Profit Fall in Q4
The company’s stock climbed after the announcement, buoyed by the news of a $40 billion stock buyback.
Checkout.com Shuffles Executives to Double Down on U.S. Expansion
Céline Dufétel will take on the new role of president to lead the company’s growth in the U.S.
Judge Tells Sam Bankman-Fried to Stop Texting Former FTX Colleagues
Bankman-Fried has reached out to current and former FTX employees since his arrest in December.
Judge Rejects FTC’s Bid To Block Meta VR Deal
The decision marks a setback for FTC Chair Lina Khan.
Peloton Shares Jump on Subscription Growth and Narrower Loss
The fitness products and content company ended the latest quarter with more people subscribed to its all-access membership, but total members dropped slightly.
Bustle Lays Off 8% of Staff, Shuts Down Gawker
The slowdown in ad spending continues to roil digital media firms. BDG is facing a "surprisingly difficult" Q1, its CEO said in a memo to staff.
Peacock Drops Free Tier For New Users
The cheapest option for new customers is now the $5 a month ad-supported tier.
Intel Cuts Salaries Amid Grim Outlook
While numerous tech companies have conducted layoffs amid concerns about a global recession, Intel is one of the first to implement broad pay cuts.
AMD Forecasts Sales Slowdown Due to Weak PC Demand
AMD's business did better than that of rival Intel in its December quarter but it expects weakening demand for PCs to have an impact this quarter.
Snap Warns Revenue Could Fall 10% This Quarter
Results from Snap don’t bode well for Meta Platforms and other ad-supported networks due to report later this week.
Weekday mornings
The Information AM by The Information Staff
Start your morning with the important global tech news of the day, covered by The Information team across five time zones.
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