Pinterest Fires Engineers for Tracking Layoff Data
Pinterest recently fired two engineers for improperly accessing confidential company information to track which employees were affected by recent layoffs, according to BBC Technology and BBC Business reports. The company, led by Chief Executive Bill Ready, recently announced job cuts impacting approximately 15% of its workforce, or about 700 roles, as part of a shift towards an "AI-forward approach," according to an employee's LinkedIn post of Ready's internal memo.
The engineers reportedly wrote custom scripts to identify the locations and names of dismissed employees. Pinterest had not publicly disclosed which teams or workers would be affected by the restructuring.
The company's decision to reduce its workforce comes as other tech companies are also making significant changes. In related news, Elon Musk's SpaceX is acquiring his artificial intelligence start-up, xAI, in a deal that would value xAI at $125 billion and SpaceX at $1 trillion, potentially making it the most valuable private company ever, according to BBC Technology. Musk stated in a memo posted on SpaceX's website that the combination would form an "innovation engine" bringing AI, rockets, space-based internet, and media under one roof.
Meanwhile, in China, new regulations are impacting the electric vehicle (EV) market. China has banned hidden door handles on EVs, becoming the first country to prohibit the design popularized by Tesla, according to BBC Technology. The new rules, set to take effect on January 1, 2027, require cars to have a mechanical release both inside and outside the doors. This decision follows safety concerns and deadly incidents involving EVs, including fatal crashes in China involving Xiaomi EVs where power failures were suspected of preventing doors from opening.
In the pharmaceutical sector, Novo Nordisk, the maker of Ozempic and Wegovy, is facing financial pressures. Shares in the Danish company plunged 18% after its chief executive, Maziar Mike Doustdar, warned that price cuts would be "painful" for the firm, according to BBC Business. The company expects profits and sales to fall by as much as 13%. Doustdar described the pricing pressures as "unprecedented." The situation has been "amplified" by a deal Novo Nordisk and Eli Lilly made with former US President Donald Trump to lower the cost of weight-loss drugs for Americans. The company has also announced thousands of job cuts amid increasing competition.
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