According to a blog post shared on the company's website, Zoom announced plans to lay off around 1,300 employees on Tuesday, which accounts for 15% of its total workforce.
CEO Yuan Zheng wrote in the blog post that as the world continues to adapt to life after the pandemic, the company needs to adapt to the "global economic uncertainty".
Yuan also stated that he plans to reduce his own salary by 98% in the next fiscal year and has also waived the 2023 corporate bonus.
$Zoom Video Communications (ZM.US)$
CEO Eric Yuan wrote in a blog post that as the world continues to adapt to post-pandemic life, the company needs to adapt to the "global economic uncertainty" and its impact on our customers.
Zoom experienced tremendous growth during the pandemic, as people were forced to work from home and turned to video chat software to stay connected with colleagues, friends, and family.
"We have been working tirelessly to make Zoom better serve our customers and users. But we have also made mistakes," said Yuan. "We have not spent enough time thoroughly analyzing our team or evaluating whether we are moving towards the highest priorities sustainably."
Yuan stated that the layoffs will impact every organization at Zoom, and the dismissed employees will receive up to 16 weeks of wages and medical insurance. The CEO also mentioned that he...

$AMC Entertainment (AMC.US)$ Despite all the furor, AMC remains under significant pressure. AMC stock is down 76% over the past 12 months. Despite moviegoers returning to cinemas in large numbers and a strong backlog of blockbusters such as Top Gun, Marvel, and Jurassic Park movies, the balance sheet debt levels remain a significant headwind. In order to survive, AMC renegotiated rent payments and took on increased debt levels. With a rising yield environment, both rents and...

$GameStop (GME.US)$ $AMC Entertainment (AMC.US)$ Kenny’s friends gotta be like WTH happened to you 🤣

$AMC Entertainment (AMC.US)$ $GameStop (GME.US)$ I'm struggling to understand why the infinite liquidity is needed specifically for meme stocks when the inflow is so high.....I'm there is not 1000 shares available then just like crypto supply and demand comes into effect .....we have just seen pure evidence the market is a ponzi scheme ....fundamentals mean nothing.....ta means nothing.....and most importantly supply and demand means NOTHING what a fucking scam

$NVIDIA (NVDA.US)$ is coming off two years of soaring profits and revenue, much of it spurred by the rise in online activity during the COVID-19 pandemic. The shift to online entertainment and remote work during the pandemic helped fuel demand for both Nvidia's gaming and data center products.
Now, Nvidia says it is focusing on building on that growth by investing in new products, including on chips aimed at expanding its lead in arti...

$GameStop (GME.US)$ GameStop stock is reacting very little to management's unveiling on Monday of its first branded cryptocurrency wallet. In fact, shares are down 1.2% in the premarket on Tuesday to $95.
GameStop's new crypto wallet, called the GameStop Wallet simply enough, allows gamers to use it directly in their browser extensions. The wallet is GameStop's first foray into being a technology company, according to su...

$GameStop (GME.US)$
On Monday, video game and electronics retailer GameStop announced the launch of a new wallet that allows gamers to store, send, and receive cryptocurrencies and non-fungible tokens (NFTs) on different dApps.
GameStop Launches Non-Custodial Wallet, announced the launch of its all-new, browser-based wallet in preparation for the release of its online NFT marketplace.
The new non-custodial wallet fr...

$Palantir (PLTR.US)$ $Teras Resources Inc (TRA.CA)$ , one of the world’s largest physical commodity trading companies, and PLTR, announced the development of a technology services platform for carbon emissions calculation, reporting, and collaboration across commodity supply chains.
A consortium approach enables participants across global energy and commodities supply chains to model lifecycle c...