Tag: investor?
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The Wall Street Journal: Investor sues Sequoia, other financial firms that did business with FTX
The Wall Street Journal: Anti-‘woke’ investor Vivek Ramaswamy joins GOP presidential race
Spotify’s new activist investor is keeping a close eye on podcast spending
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I hope you all had a great weekend. Today, we have the final lineup for Hot Pod Summit next week, including a new headliner. Plus, Spotify’s new activist investor and Rihanna’s post-Super Bowl streaming spike. Let’s get into it!
Activist investor takes stake in Spotify, and it is all for company cuts
There is even more pressure for Spotify to be lean now. Last week, it was reported that activist investor ValueAct had purchased a stake in the streamer. Mason Morfit, who leads the firm, disclosed the new position at a private conference at Columbia University and indicated that he was on board with the cuts Spotify has been making.
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Spotify has a new activist investor seemingly focused on cost efficiencies
Activist investor Starboard said to build stake in Rogers Corp. – report
Google Institutional Investor Calls For 30K Jobs Cut
Whether Google listened to TCI Fund or not is a moot point, but Sundar Pichai last week confirmed that 12,000 of its employees were to be booted because it hired heavily during the pandemic for a “different economic reality to the one we face today.” Yesterday, he told a town hall meeting of Googlers that not hiring risked losing business. Google’s workforce went from 120,000 in 2020 to nearly 187,000 at the end of September, and it is now under pressure due to slowing sales and shrinking profits. Hohn at TCI now wants to see even more dramatic action taken by senior management. “Over the last five years, [Google parent] Alphabet has more than doubled its headcount, adding over 100,000 employees, of which over 30,000 were added in the first nine months of 2022 alone,” he said in the latest letter to Pichai. Hohn adds, “The decision to cut 12,000 jobs is a step in the right direction, but it does not even reverse the very strong headcount growth of 2022. Ultimately management will need to go further. […] Importantly, management should also take the opporunity to address excessive employee compensation. The media salary at Alphabet in 2021 amounted to nearly $300,000, and the average salary is much higher. “
Read more of this story at Slashdot.