Monthly Archives: September 2022

Snap’s ‘messy’ mass layoff happened so fast some employees were locked out of work tools before, and during, meetings in which they were to be let go

Kevin Dietsch/Getty Images; Snap Inc.; Insider Snap let go more than 1,200 people in a mass layoff last week. The process of actually laying off workers turned out to be “messy, at best,” workers said.  Snap has referred to what workers experienced as “IT issues.” CEO Evan Spiegel offered an apology.  Snap’s mass layoff last…

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Bill Ackman says his firm is holding onto its stock picks as it anticipates Fed rate hikes cutting inflation to more than half current levels

Bill Ackman, CEO and founder of Pershing Square Capital. AP Photo/Richard Drew Pershing Square founder Bill Ackman said he sees inflation being halved a year from now in response to the Federal Reserve’s interest rate hikes.  “Our biggest fear was inflation,” the hedge fund boss said in supporting the Fed raising rates quickly and soon. …

Walmart is facing a class action suit for allegedly violating an Illinois privacy law by using surveillance cameras and Clearview AI’s facial recognition database

The Walmart logo is seen outside a Walmart store in Burbank, California on August 15, 2022 ROBYN BECK/AFP via Getty Images A lawsuit filed Thursday in Illinois alleges that Walmart violated Illinois’ Biometric Privacy Act. Facebook, now Meta, was hit with a $550 million fine in 2020 per settlement agreement after being sued under the…

The Los Angeles Unified School District is dealing with a ransomware attack

The Los Angeles Unified School District is navigating a ransomware attack on its information technology systems. The cyberattack originated over Labor Day weekend, starting on September 3rd, though it hasn’t disrupted school operations and classes are scheduled as usual. The district says in-school safety and emergency systems weren’t affected by the attack, nor were employee…