February 7, 2024
Snap, Okta, and DocuSign Slash Tech Jobs as Cuts Continue
Just weeks into 2024, layoffs are already significantly impacting the tech and media industries. Overall, job cuts have been particularly severe across all industries, with the second-highest layoff total for the month of January recently recorded. However, cuts were 20% lower than the same time last year. A recent survey of top executives indicates that retaining and engaging employees is a top priority and challenge for CEOs in 2024.
Tech cuts have been consistent. Okta, a U.S.-based access and identity management company, is laying off about 400 employees, or 7% of its global workforce. Snap is reducing its workforce by 10%, roughly 500 employees. The social media company has struggled to generate income amid losses in ad revenue. Online signature provider company DocuSign announced it would eliminate 440 jobs, about 6% of its workforce.
The New York Times Explores AI While Apple Prepares New Efforts
While The New York Times has taken legal action to prevent chatbots like OpenAI from training on its content, the newspaper is leaning into AI in other areas. The Times hired new Editorial Director of AI Initiatives Zach Seward, who will develop the paper’s policies around generative AI. The team will employ a machine learning engineer, in addition to new roles exploring AI in the newsroom.
Apple announced it will reveal more about its generative AI efforts later this year, as the tech giant looks to compete with Microsoft and Google. A recent report of nearly 3,000 senior leaders in tech and business show that vast majorities of C-suite leaders expect generative AI to transform their organizations, but only one-third believe they have high-quality AI expertise.
Social Media CEOs Grilled by Lawmakers
CEOs of major social media companies were on the congressional hot seat as legislators grilled tech executives on children’s health and safety and the impact of their platforms. Meta CEO Mark Zuckerberg apologized to families who had been invited by lawmakers. The Senate Judiciary Committee’s hearing was a rare display of bipartisan support for an issue that has rapidly risen among regulators.
TikTok continues to be the most popular social media app among children age 4-18—new data show kids are spending nearly two hours on the platform per day. According to Pew Research, most U.S. adults use Facebook (68%) and nearly 50% use Instagram. Bluesky, initially an invite-only app funded by Twitter co-founder Jack Dorsey, is now publicly accessible.
Sequence Summaries: Constant Cuts, AI Evolution, and Social Sessions
Tweet
Sequence Summaries is a weekly series summarizing the top news and takeaways in PR and strategic communications. Sign-up for direct delivery to your inbox.
