Layoffs Still Coming in Tech

It’s hump day. I’m Emilia David, and welcome back, readers. 

I scored some sweet Maggie Rogers tickets on Tuesday, so music is on my mind. If you’ve noticed older songs start to chart again, you have TikTok to thank. Insider’s Callie Ahlgrim and Taylor Tyson analyzed Tiktok trending sound data to see how 20-year-old songs become viral sensations.  

Before we find out if love grows where Rosemary goes, let’s get started.

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1. More tech workers could lose their jobs. The tech sector has shed an estimated 330,000 jobs since last year, but my colleague Hasan Chowdhury writes that more cuts will likely come.  

• Companies like Google, Meta, and Amazon have cut several roles in the past year, but analysts believe years of overhiring and a renewed focus on profitability means more layoffs ahead.
• Analysts said there’s more room in these organizations to focus on core businesses, so cuts in non-core departments should be expected.
• Even companies that haven’t done layoffs yet will feel the pinch. It’s going to be a rough time for startups, especially as they weather a tough funding environment and the collapse of Silicon Valley Bank. 

Here’s why tech workers have to brace for more layoffs.

In other news:

2. Twitter, X, and the Everything app. A one-letter tweet from Twitter CEO Elon Musk suggests that Twitter is taking the first step to becoming a one-stop shop for all your internet needs. Learn more here.

3. Companies are raiding universities for the top AI talent. The AI arms race has pushed tech organizations to recruit AI talent from university programs aggressively. More on this story here. 

4. Google employees reportedly tried to stop Bard. Two Google employees, concerned over inaccuracies and “dangerous” results, are said to have (unsuccessfully) urged the company to hold back its AI chatbot, Bard. Read more here. 

5. More layoffs at advertising technology company Permutive. UK-based Permutive will cut 80 employees, about 40% of its workforce, in its second round of layoffs. Read Insider’s exclusive on the cuts.

6. Elizabeth Holmes is going to jail. Theranos founder Elizabeth Holmes, who tried to book a one-way ticket to Mexico after her conviction, must report to prison after a judge denied her bail request. Here’s more on Holmes.

7. Youtube TV contractors facing union fight. Employees of Cognizant, a contractor for Youtube TV, told Insider that they are forced to go to captive meetings to discourage unionizing. Read more here.

8. Mark Zuckerberg’s former security guard speaks. Brooks E. Scott used to protect tech executives like Mark Zuckerberg from crowds. Read what led him to leave Meta and start a new business.

Odds and ends:

9. Tesla rival makes a car that can jump. Chinese car maker BYD released a video of its Yangwang U9 car model with advanced control over the car body, allowing it to jump, bounce, and for some reason, dance. Learn more here.

10. You might not want Sony’s wireless headset for the PlayStation 5. Thinking of getting a new headset for better immersion while playing “God of War: Ragnarok?” Our reviewers say that  Sony’s official Pulse 3D wireless headset falls flat.

What we’re watching today:

• NFT.nyc, a Web3 conference in New York City, is starting today with speakers from Salesforce, OpenSea, and Coinbase.
• On this day in 1961, Yuri Gagarin became the first man to go to space. It’s International Day of Human Space Flight, so reach for the stars.

Curated by Emilia David in New York. (Feedback or tips? Email edavid@insider.com or tweet @miyadavid.) Edited by Matt Weinberger (tweet @gamoid) in San Francisco and Hallam Bullock (tweet @hallam_bullock) in London.