Top Business and Tech News for May 26, 2023
Meta Platforms to lay off 3% of its workforce.
Apple to release new MacBook Air with M2 chip on July 15.
Amazon to acquire Grubhub for $9.5 billion.
Tesla to recall 820,000 vehicles due to safety concerns.
Netflix to lose subscribers for the first time in 10 years.
Meta Platforms to Lay Off 3% of Workforce
Meta Platforms, the parent company of Facebook, Instagram, and WhatsApp, is planning to lay off 3% of its workforce, or about 2,000 employees. The layoffs are part of a broader effort by Meta to reduce costs and focus on its most profitable businesses.
The layoffs come as Meta is facing increasing competition from other social media platforms, such as TikTok. Meta is also facing scrutiny from regulators around the world. In the United States, Meta is facing a lawsuit from the Federal Trade Commission that alleges that the company violated antitrust laws.
Apple to Release New MacBook Air with M2 Chip on July 15
Apple is expected to release a new MacBook Air with the M2 chip on July 15. The new MacBook Air will be thinner and lighter than the current model, and it will feature a new design with a larger display and a notch at the top of the screen.
The M2 chip is the successor to the M1 chip, and it is expected to offer significant performance improvements. The new MacBook Air will also support MagSafe charging, which was a popular feature on older MacBook models.
Amazon to Acquire Grubhub for $9.5 Billion
Amazon is in talks to acquire Grubhub, the food delivery company, for $9.5 billion. The acquisition would give Amazon a major foothold in the food delivery market, which is growing rapidly.
Grubhub is one of the leading food delivery companies in the United States. The company has over 11 million active users, and it delivers food from over 100,000 restaurants.
The acquisition of Grubhub would give Amazon a way to compete with other food delivery companies, such as DoorDash and Uber Eats. Amazon could also use Grubhub to expand its Prime membership program.
Tesla to Recall 820,000 Vehicles due to Safety Concerns
Tesla is recalling 820,000 vehicles due to a safety concern. The recall affects Model S and Model X vehicles that were built between 2012 and 2018. The vehicles may have a faulty software update that could cause the airbags to deploy unexpectedly.
Tesla is the world's leading electric car maker, and the recall is a major setback for the company. The recall could also damage Tesla's reputation for safety.
Netflix to Lose Subscribers for the First Time in 10 Years
Netflix is expected to lose subscribers for the first time in 10 years. The company is facing increasing competition from other streaming services, such as Disney+ and HBO Max. Netflix is also raising prices, which is likely to deter some subscribers.
The loss of subscribers is a major blow to Netflix. The company has been growing rapidly for the past decade, and it has become one of the most popular streaming services in the world. However, the company is now facing a number of challenges, and it will need to make some changes if it wants to continue to grow.