Pinterest Fires Employees for Tracking Layoffs; Musk Merges SpaceX and xAI; Law Firm Shuts Down; China's Comac Challenges Boeing and Airbus
Pinterest terminated two engineers for developing a tool to track which employees were affected by recent layoffs, the BBC reported. The company, which recently announced job cuts impacting approximately 700 roles or 15% of its workforce, said the engineers "improperly access[ed] confidential company information" to identify the names and locations of dismissed employees. CEO Bill Ready had previously stated in an email that the company was "doubling down on an AI-forward approach," according to an employee who posted the memo on LinkedIn.
In other technology news, Elon Musk's SpaceX is acquiring his artificial intelligence start-up, xAI, in a merger that would value SpaceX at $1 trillion and xAI at $125 billion, according to a source familiar with the deal. SpaceX confirmed the acquisition by posting a memo from Musk on its website. Musk stated the combination would form an "innovation engine" bringing AI, rockets, space-based internet, and media under one roof. xAI is known for its Grok chatbot.
Meanwhile, in the business sector, Sheffield-based law firm PM Law abruptly closed its doors on Monday, leaving staff and clients in limbo. The firm, which operates across Yorkshire, Cumbria, Berkshire, Derbyshire, and Kent, specializes in personal injury, wills, and conveyancing. The Solicitors Regulation Authority (SRA) stated that PM Law had "not closed in the manner we would expect." One customer reported being unable to complete a flat sale, while an employee expressed feeling "devastated" by the closure.
Finally, Chinese state-owned planemaker Comac is aiming to compete with Airbus and Boeing, showcasing its C919 passenger jet at the Singapore Airshow. This marks the aircraft's first trip outside of Chinese territory in two years. Comac is targeting the Southeast Asian aviation market with the C919, which is designed to rival the Airbus A320neo and Boeing 737 MAX. The company stated that the airshow is a chance to position itself in the Southeast Asian aviation market.
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