Pinterest Fires Employees for Tracking Layoff Data
Pinterest fired two engineers for creating a tool to track which employees were affected by recent layoffs, according to BBC Business. The company recently announced job cuts, impacting roughly 700 roles, or 15% of the workforce, as part of a move to focus on artificial intelligence (AI), according to an email from Chief Executive Bill Ready that was posted on LinkedIn.
The engineers reportedly "wrote custom scripts improperly accessing confidential company information to identify the locations and names of all dismissed employees," according to BBC Business. Pinterest had not specified which teams or workers would be affected by the layoffs.
The firings occurred as Walmart became the first traditional retailer to reach a $1 trillion market valuation, according to BBC Business. This milestone reflects the company's booming e-commerce business and success in attracting price-conscious shoppers. Wall Street has also responded positively to Walmart's investments in AI.
Meanwhile, Netflix and Warner Bros. faced scrutiny from U.S. senators regarding their proposed $82 billion merger, according to BBC Business. Members of the Senate antitrust subcommittee raised concerns about reduced competition, potential price increases, and the future of cinemas if the merger proceeds. The deal is currently under review by the Department of Justice (DoJ).
In other business news, Disney named Josh D'Amaro, the head of its amusement park business, as its new chief executive, according to BBC Business. D'Amaro, a 28-year veteran of the company, will replace current boss Bob Iger, starting on March 18. The decision ends a succession puzzle for the entertainment giant, which Iger has led for roughly two decades, except for a brief interlude that ended in 2022 when the board ousted his successor and asked Iger to return.
Additionally, an estimated one million people missed the deadline to file their tax return with HM Revenue and Customs (HMRC) and now face penalties, according to BBC Business. The UK's tax authority said 27,456 people filed in the final hour before the cut-off for 2024-25 returns at midnight at the end of Saturday.
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