Tag: corporate
Finally, a free game about skateboard witches fighting corporate evil
First Trust Limited Duration Investment Grade Corporate ETF declares monthly distribution of $0.0550
Ad agencies are recommending that big corporate clients pause Twitter ads
Amid the chaos of the Twitter Blue verification rollout, another major advertising agency has recommended a spending pause on Twitter ad campaigns for its clients.
According to an internal memo obtained by The Verge, Omnicom Media Group cited “potential serious implications” for brands following recent events in regard to safety concerns present on Twitter. Omnicom Media is a major advertiser, representing brands such as Apple, Mercedes-Benz, and McDonald’s.
The safety concerns Omnicom Media has warned clients about are related to Twitter’s new verification system, which allows anyone to gain a blue check on their account as long as they pay the $8 per month fee. After a rushed launch, the new feature has seen many high-profile figures and brands impersonated on the app. As of this writing, the social media platform has disabled its Twitter Blue subscription service for new customers.
“There is evidence that the risk to our client’s brand safety has risen sharply to a level most would find unacceptable,” the memo reads, according to The Verge. “We recommend pausing activity on Twitter in the short term until the platform can prove it has reintroduced safeguards to an acceptable level and has regained control of its environment.”
The memo from Omnicom follows a similar move by Interpublic Group from earlier this month. As reported by CNBC, the ad giant also advised its clients to pause ad spending on Twitter until there was “clarity on the social network’s plans for trust and safety.” Other major brands in recent weeks have also suspended ad spending on the platform including Volkswagen, General Motors, and General Mills. Some brands like Playbill are leaving the app entirely.
Twitter has gone through a tumultuous month since new CEO Elon Musk took over back in October. The social media giant has seen mass layoffs, resignations, impending wrongful termination lawsuits, and massive revenue drops. Along with an increase in hate speech on the platform and rampant impersonations, Twitter has become the “free-for-all hellscape” Musk promised would not happen under his watch.
According to Omnicom’s internal memo, the company has “formally requested that Twitter assure us that these issues will not impact compliant processes, operations, products, brand safety, and client investment on the platform in any way. It continues by saying that “seemingly due to the lack of senior leadership now in these areas, Twitter has not been able to give those assurances.”
As of this writing, Musk and Twitter are at risk for heavy FTC fines after the resignation of key privacy and security executives. The company was fined $150 million in May after it was caught using personal user info to target ads. More fines may come in the future if more business and content moderation headaches on the app continue.
Why watch a movie when you can watch your corporate all-hands meeting?
Movie theater attendance is down, largely thanks to the pandemic, but chains like AMC still need to make money. If meme stocks aren’t a reliable business plan, why not find another use for a giant room with a huge screen and lots of seats? In partnership with Zoom, AMC Theatres will launch a product called […]
Why watch a movie when you can watch your corporate all-hands meeting? by Amanda Silberling originally published on TechCrunch
Amazon exec confirms corporate hiring freeze through end of year
Given the ongoing economic headwinds and the company’s expensive belt-tightening under CEO Andy Jassy, it ought not come as a surprise that Amazon has instituted a corporate hiring freeze. The retail giant’s senior vice president of People Experience and Technology, Beth Galetti, confirmed the move in a staff memo that has since been published on […]
Amazon exec confirms corporate hiring freeze through end of year by Brian Heater originally published on TechCrunch
Amazon freezes hiring at its corporate offices
Amazon is joining the ranks of tech companies freezing their recruitment plans. Engadget has obtained a memo from Senior VP Beth Galetti (since published) revealing that the company will “pause” hiring at its corporate offices for a few months. The internet giant will still replace departing employees and hire new people in “targeted places,” Galetti wrote but there won’t be any significant expansion in the near future.
As with other companies, Amazon attributed its freeze decision to an “unusual macro-economic environment.” The firm doesn’t want to spend too much money growing its workforce in difficult financial conditions, to put it another way. Galetti added that Amazon still wants to hire a “meaningful number” of corporate workers in 2023, but that the online shopping giant will track the economy and adjust as it “makes sense.”
Amazon had no further comment. It hired aggressively during the height of the pandemic to keep up with a spike in online sales, but ran into trouble this year due to both a return to in-person shopping and mounting costs. The company posted a $2 billion loss during its second quarter (April through June) and cut 99,000 jobs, many of them warehouse workers. It also cancelled the launch of some facilities. In early October, it temporarily halted corporate hires for its retail business.
The pause comes weeks after Meta reportedly suspended all hiring, and months after big names like Apple, Google and NVIDIA have slowed their pursuits. Some companies are making additional cuts — Lyft just confirmed that it’s laying off 700 workers, or about 13 percent of its workforce, after cutting 60 positions in July.
Biden Tells Oil Companies to ‘Stop War Profiteering’ and Threatens New Corporate Taxes Amid Record Petroleum Profits
President Joe Biden is apparently sick of watching oil companies rake in record profits while consumers pay big bucks at the pump. He threatened new windfall profit taxes against fossil fuel giants, and cautioned corporations to cease cashing in the war in Ukraine, in a Monday speech.
Emburse Launches Integrated Corporate Cards and Expense Management to Eliminate Need for Employee Out-of-pocket Spend
Emburse, the global leader in spend optimisation, announces the availability of Emburse Cards for UK-based SMBs through to enterprise organisations. Emburse Cards…
The post Emburse Launches Integrated Corporate Cards and Expense Management to Eliminate Need for Employee Out-of-pocket Spend appeared first on TechRound.
Varo’s bank charter milestone, more corporate cards and BNPL under a microscope
Welcome to The Interchange! If you received this in your inbox, thank you for signing up and your vote of confidence. If you’re reading this as a post on our site, sign up here so you can receive it directly in the future. Every week, I’ll take a look at the hottest fintech news of […]
Varo’s bank charter milestone, more corporate cards and BNPL under a microscope by Mary Ann Azevedo originally published on TechCrunch