Layoffs
VICE Exiting Online News, Axing “Several Hundred Positions”
VICE is planning to shutter its award-winning original news division in conjunction with a huge round of layoffs. The news was relayed by their CEO, Bruce Dixon in a company-wide memo.
Warner Music Initiating Layoffs To Bolster “Core Business”
Warner Music's CEO Robert Kyncl sent out an internal memo informing the staff that the company was going to layoff 600 of its employees, severing their ties with digital brands such as Uproxx and HipHopDX.
GameStop to drop crypto efforts as Q3 losses near $95M
Gaming retailer GameStop says it will no longer focus any efforts on cryptocurrencies, after amounting $94.7 million in net losses in the third quarter and laying off staff from its digital assets department. On a Dec. 7 earnings call GameStop CEO, Matt Furlong, said it “proactively minimized exposure to cryptocurrency” over the year and “does not currently hold a material balance of any token,” adding: “Although we continue to believe there is long-term potential for digital assets in the gaming world, we have not and will not risk meaningful stockholder capital in this space.” Earlier this year the company said it was looking at crypto, along with nonfungible tokens (NFTs) and Web3 applications, as avenues for growth calling these spaces “increasingly relevant for gamers of the fut...
Crypto.com gets nod in Dubai and FTX launches in Japan
Two out of the top 10 largest cryptocurrency exchanges by volume will expand into new markets, with Crypto.com obtaining a provisional crypto license in Dubai and FTX launching in Japan. Crypto.com announced on June 2 that the Dubai Virtual Assets Regulatory Authority (VARA) provided the exchange with provisional approval of its Virtual Asset License giving the company the go-ahead based on initial compliance checks. The exchange said that VARA will carry out further due diligence and other mandated requirements before its full operating license is issued which it expects to happen in the “near term” Crypto.com said in March it would create a regional office in the United Arab Emirates (UAE) largest city after it enacted new laws for crypto and created VARA with the goal of making Dubai a ...
Kano government reaffirms commitment to minimum wage, says deductions temporary
Kano state government has reaffirmed its commitment to the continuous implementation of the N30,600.00 minimum wage for civil servants. It however said, that deduction in November/December workers’ salary was a temporary measure informed by the drop in federal allocation and dwindling internally generated revenue occasioned by the COVID-19 pandemic. The state commissioner for Information, Malam Muhammad Garba who stated this in a statement, Thursday, indicated that the deduction was necessary to keep the government going in the face of the prevailing economic recession facing the country. “The state government took the measure instead of contemplating on paying half salary or in batches as obtained in other states or layoffs. “Similar temporary measure was taken, including cut in the allow...
Coronavirus vaccine eclipses US elections as economic game-changer
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