Genesis, a major institutional digital asset market and a full-service digital currency prime brokerage based in New York, on Wednesday announced several leadership changes amid the company’s efforts ...
Tag: Cuts
Genesis Cuts 20% of Staff, CEO Steps Down
Crypto broker Genesis has announced that it is cutting back staff by 20% and chief executive officer Michael Moro steps down. According to reports by Bloomberg, the New York-based cryptocurrency broke...
Genesis CEO Steps Down as Firm Cuts 20% of Staff
Key Takeaways Genesis Trading has announced the replacement of its CEO Michael Moro. It will also cut 20% of its workforce. The company has recently made a slew of new executive hires, however. Genesi...
U.S. Announces Major Colorado River Water Cuts Amid Historic Western Drought
Topline The Biden administration announced unprecedented cuts Tuesday to the amount of water that can be taken from the Colorado River by Arizona, Nevada and Mexico as climate change drives a drought ...
Buffett’s Berkshire Cuts Verizon, Keeps Other Equity Stakes Mostly Unchanged
(Bloomberg) — Berkshire Hathaway Inc. eliminated a Verizon Communications Inc. stake in the second quarter as the conglomerate run by billionaire Warren Buffett made tweaks to its portfolio and ...
HBO Max cuts 14% of staff mainly in casting, acquisitions and reality TV
David Zaslav, President and CEO of Warner Bros. Discovery talks to the media as he arrives at the Sun Valley Resort for the Allen & Company Sun Valley Conference on July 05, 2022 in Sun Valley, Id...
Axie Infinity cuts rewards from classic game, subtly forcing P2E players to new mode
Play-to-earn (P2E) blockchain game Axie Infinity (AXS) has completely removed the token rewards from its classic game mode to attract its users to a new game mode called Axie Infinity Origin. The Axi...
Best Buy cuts jobs across the country, after warning of slower sales
Black Friday shoppers leave a Best Buy store in Washington, DC, on November 26, 20221. Nicholas Kamm | AFP | Getty Images Best Buy said on Friday that it is cutting jobs across the country about two w...
Microsoft makes further cuts focused on consumer R&D group
After pulling open roles across its Office and Windows divisions and letting go of a portion of its 180,000-person workforce in July, Microsoft made additional cuts this week. This layoff round was co...
Novavax cuts 2022 revenue guidance in half, stock tanks in after-hours trading
In this photo illustration a silhouette of a man holding a medical syringe and a vial seen displayed in front of the Novavax logo on a screen. Cezary Kowalski | Lightrocket | Getty Images Novavax deep...
SoftBank CEO plans widespread cost cuts as tech investments suffer, leading to a $23 billion loss
Japanese conglomerate and tech investing powerhouse SoftBank revealed on Monday that it lost $23 billion between April and June, the most significant quarterly loss in the company’s history. CEO Masay...
Hong Kong cuts hotel quarantine for travelers to 3 days
Hong Kong is reducing the amount of time travelers will need to serve hotel quarantine, from seven days down to three starting Friday. “The seven-day quarantine hotel arrangement will be changed...
Core Scientific mined 10.4% more bitcoin in July despite power cuts
Core Scientific self-mined 1,221 BTC in July — up by 10.4% compared with June, despite having to curtail power due to extreme temperatures in Texas. Curtailment periods totaled 8,157 megawatt-hours in...
Core Scientific increased Bitcoin production by 10% in July amid Texas power cuts
Crypto mining firm Core Scientific reported its operations produced 1,221 Bitcoin (BTC) in July even as the company powered down several times in response to demand on the Texas power grid. In a Frida...
Robinhood, Carvana And More—These Stocks Are Surging After Announcing Cost Cuts
Topline Shares of Carvana and Beyond Meat surged Friday, making them the latest companies to be rewarded by investors after announcing layoffs or cost cuts in recent weeks amid a challenging economic ...
Robinhood April Cuts ‘Did Not Go Far Enough’ Says CEO Amid New Layoffs
Robinhood, the beleaguered stock-trading app whose gamified user interface brought crypto and “meme-stock” trading into the mainstream last year, is laying off 23 percent of its staff, the company ann...
Job cuts, smaller bonuses loom for Wall Street bankers
People walk by the New York Stock Exchange on May 12, 2022 in New York City. Spencer Platt | Getty Images News | Getty Images Investment bankers hit with a collapse in equity and debt issuance this ye...
Lucid stock plunges after electric-vehicle maker cuts production guidance for the year
Shares of Lucid Group Inc. LCID, +4.21% fell more than 10% in after-hours trading Wednesday after the electric-vehicle maker announced a reduction in its production forecast. Lucid said it now expects...
Crypto trading platform Robinhood cuts staff…
The so-called “crypto winter” continues to bite deep into the sector, as crypto trading platform Robinhood becomes the latest to divest itself of staff as its revenues plummet. Robinhood, the one time...
Robinhood cuts a further 23% of its workforce citing “Broad Crypto Market Crash”
Robinhood Markets Inc. (NASDAQ: HOOD), on Tuesday, announced that it will have to lay off a further 23% of its workforce after laying off 9% at the beginning of this year. The online brokerage firm bl...
CoinFLEX announces staff cuts as part of measures to reduce costs by up to 60%
Cryptocurrency exchange CoinFLEX said it had downsized a “significant number” of team members in an effort to cut operating costs. According to a Friday blog post, CoinFLEX said it had cut some staff ...
CoinFLEX Cuts Down on Staff Strength Amid Stability Woes
Updating its users on the latest for the week, cryptocurrency exchange CoinFLEX has announced that it is cutting down on its staff strength. The retrenchment process will run across its various depart...
CoinFlex cuts staff amid plans to reduce costs 1
CoinFlex has announced that it is cutting its workers to eliminate excess costs amid the dwindling crypto market. In a blog post that was culled off the exchange’s official website, the exchange annou...
CoinFLEX Makes “Significant” Staff Cuts Due to Recovery Costs
Key Takeaways CoinFLEX says that it will layoff a portion of its workforce due to the costs of distributing its composite asset. By next week, the company expects to have data on how much of the CoinF...
Japan Crypto Advocates Propose Tax Cuts to Stem Talent Exodus
Japanese cryptocurrency advocacy groups will petition the government to relax corporate tax regulations, allowing the growth of the country’s digital asset industry. According to Bloomberg, the Virtua...
Japan’s Crypto Lobby Group Push For Tax Cuts; Here’s Why!
Japan’s Crypto Lobby Group Push For Tax Cuts; Here’s Why! | Bitcoinist.com FSA has been in contemplation about the need for a corporate tax a...
Tether Cuts Down On Commercial Paper, Reveals No Chinese Links – crypto.news
The world’s leading stablecoin issuer, Tether, has for the first time debunked claims that it is still using Chinese commercial paper. For a long time, according to the stablecoin issuer, Tether has c...
Twilio Stock Tumbles After Guidance Falls Short. Analyst Cuts Rating.
Text size Twilio stock has performed far worse than the Nasdaq Composite this year. Dreamstime Twilio reported better-than-expected earnings, but the company forecast less revenue than expected for it...