Layoffs continue to occur throughout the tech industry. Oracle is one of the latest firms to start cutting staff, with sources confirming that it has begun laying off more US workers. And as of July, at least 30,000 tech workers lost their jobs so far in 2022.
I know you’ve read the reports of these layoffs. Today, however, we’re taking a look at another side of the process: what happens next. I’m Jordan Parker Erb, and I’m going to walk you through it.
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1. So you got fired. Now what? In recent weeks, we’ve seen layoffs at companies from Netflix and Twitter to Coinbase and Tesla. We spoke to career coaches and experts who shared what to do if you’ve been laid off.
Plus, check out some of the tech companies that are still hiring.
In other news:
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2. Twitter Blue is about to get more expensive. Starting in October, existing users will see the cost of Twitter’s subscription service increase from $2.99 per month to $4.99 per month. In other Twitter news, the company is investigating Elon Musk’s associates — including investors Chamath Palihapitiya and David Sacks — in broad legal claims over its $44 billion buyout deal.
3. What it was like to be fired by Amazon aggregator Thrasio. An employee who was fired by Thrasio in May said the experience was a panic — but it ended up being “the best thing that could have happened.”
4. Cross-chain token bridge Nomad has been drained of nearly $200 million in funding for a security exploit. On Monday, hundreds of would-be hackers systematically removed nearly all of the $190 million in bridge funds in just a few hours. According to Cointelegraph, only $651.54 remains in the wallet.
5. The CEO of digital health startup Calibrate announced layoffs on a Zoom call. Minutes after the call ended, roughly 156 company laptops of the laid-off workers automatically restarted and were wiped. Insiders point to the layoffs, which some called “heartless” and “cruel.”
6. Elon Musk’s father says he is not only proud of Elon. On an Australian radio show, Elon Musk’s father said the entire Musk family has done “a lot of things for a long time,” but added that Elon “really overstepped the mark.” Read more comments from Musk’s father.
7. Rapid delivery startups flourished in Europe. Why didn’t they make it in the US? Analysts and industry experts said that while the ultra-fast delivery model was a hit in Europe, it neglected to take into account Americans’ shopping habits — such as buying in bulk. Why “ultrafasts” would never stay in the US.
8. Leaked documents show Oracle has reorganized its all-important cloud unit. The top executive who ran the operations and support organization has also left, according to internal emails seen by Insider.
Odds and Ends:
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9. How to identify fake text messages that may be scams. We found out seven ways to spot a scam – like checking for grammar and spelling mistakes – and five ways to stop spam or bot texts.
10. Ford wants to let customers buy electric vehicles online. CEO Jim Farley hopes that allowing customers to order electric vehicles online can help the automaker compete with rivals like Tesla. More on Ford’s vision to sell electric vehicles to customers “in their rabbit’s shoes.”
What we’re looking at today:
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Curated by Jordan Parker Erb in New York. (Answers or advice? Email [email protected] or tweet @jordanparkererb.) Edited by Hallam Bullock (tweet @hallam_bullock) in London.
