Snap, the parent company of Snapchat, is laying off 10 percent of its workforce, according to an SEC filing and confirmed by a company spokesperson. The company reported a total number of 5,367 employees at the end of 2023’s third quarter, so the layoffs should impact around 540 people.
Bad actors keep using deepfakes for everything from impersonating celebrities to scamming people out of money. The latest instance is out of Hong Kong, where a finance worker for an undisclosed multinational company was tricked into remitting $200 million Hong Kong dollars ($25.6 million).
Reality Labs, Meta’s division for AR, VR and the metaverse, just had its best quarter yet despite continuing its multibillion-dollar losing streak.
After four consecutive quarters of revenue decline, Apple broke the trend and reported its first period of revenue growth today.
Samsung has failed to recover from the sharp decline in profit it experienced in 2022. In its latest earnings report, the Korean company has reported KRW 258.94 trillion ($194 billion) in annual revenue and KRW 6.57 trillion ($4.9 billion) in operating profit for the fiscal year of 2023.
PayPal is laying off nine percent of its workforce, the company’s CEO Alex Chriss told staff in a letter on Tuesday that PayPal made public hours later.
Amazon and iRobot, maker of the Roomba vacuum line, just announced that they would be dropping their proposed merger. The potential acquisition was announced back in August of 2022 and was immediately the target of antitrust watchdogs, particularly in the EU.
As mortgage lender LoanDepot continues recovery efforts from a ransomware attack, it revealed on Monday that hackers stole data from more than 16 million customers. A Securities and Exchange Commission filing from the mortgage lender did not detail what kind of information the hackers breached, only that "an unauthorized third party gained access to sensitive personal information."
Major apparel supplier VF Corp followed up on its December cyberattack disclosure, with its latest Securities and Exchange Commission form admitting to a data breach impacting up to 35.5 million customers.