Sources: to cut costs by 10%+ in a few months, Meta is nudging out a significant number of staff by reorganizing and giving a window to apply for other roles (Wall Street Journal)

Miles Kruppa / Wall Street Journal:
Activist investor TCI, which has a $6B+ stake in Alphabet, calls on the company to aggressively reduce headcount and cut costs in long-term bets such as Waymo  —  Hedge fund says company would be more efficient with fewer employees  —  Activist hedge fund TCI Fund Management called …

Ian King / Bloomberg:
Seagate misses Q1 estimates with $2.04B revenue and plans to cut around 3,000 jobs to reduce costs amid slowing demand; stock drops 9%+ and is down ~50% YTD  —  Seagate Technology Holdings Plc, the biggest maker of computer hard drives, said it’s cutting about 3,000 jobs in a restructuring plan aimed …

Bloomberg:
Sources: Indonesia’s GoTo Group is planning to cut 1,000+ jobs, more than 10% of its workforce, and curb its costs  —  Indonesia’s largest internet company GoTo Group is planning to cut more than 1,000 jobs as it seeks to trim costs and shore up its finances, according to people familiar with the matter.

TechCrunch:
BrandTotal and Unimania agreed to a permanent injunction banning them from using and scraping Facebook and Instagram, and will pay a “significant financial sum”  —  Facebook parent Meta has settled a lawsuit in the U.S. against two companies that had engaged in data scraping operations …

Mark Gurman / Bloomberg:
Sources: Apple paused hiring last month for many jobs outside of R&D, including some corporate functions and hardware and software engineering roles  —  Apple Inc. has paused hiring for many jobs outside of research and development, an escalation of an existing plan to reduce budgets heading …

Kurt Wagner / Bloomberg:
Source: Zuckerberg told staff in a weekly Q&A that Meta will freeze hiring, restructure some teams, and reduce budgets across teams, citing economic conditions  —  Meta Platforms Inc., the owner of Facebook and Instagram, said it will freeze hiring and restructure some teams in an effort to cut costs and shift priorities.