NexOptic Technology Corp (TSXV: NXO)
You’ll Never See The World The Same Way Again
Airbnb (AIRB) will cut about 1,900 employees around the world, according to an email CEO Brian Chesky sent to staff today.
The employees’ last day will be May 11.
Key quote: “We are collectively living through the most harrowing crisis of our lifetime, and as it began to unfold, global travel came to a standstill. Airbnb’s business has been hit hard, with revenue this year forecasted to be less than half of what we earned in 2019.”
The company will also narrow its business strategy, scaling back investments in hotels and luxury travel, and pausing its transportation effort.
Earlier today, The Information reported that Airbnb would cut up to 33% of the workforce and trim operations down to the core business.
Uber’s (UBER +2.2%) Dara Khosrowshahi has told staff that a layoff decision will come in the next two weeks, according to The Information sources.
Key quote: “Hope is not a strategy. We’re not going to avoid hard decisions.”
Last week, The Information reported that Khosrowshahi was considering cutting 20% or about 5,000 employees.
Yesterday, Uber’s Middle Eastern subsidiary Careem laid off 31% of its workforce as the coronavirus pandemic takes its toll on core ride-share businesses. Uber Eats also announced exiting several smaller global markets representing 4% of the segment’s EBITDA losses.
Accenture (NYSE:ACN) acquires the Canadian digital manufacturing services provider for undisclosed terms.
Callisto Integration helps design and implement manufacturing execution systems, industrial IoT systems, and shop-floor control systems.
The 160 Callisto employees will join Accenture’s Industry X.0 practice.
Callisto is Accenture’s third recent digital manufacturing advisory and services acquisition, following Silveo in France and Enterprise System Partners in Ireland.
Verizon (VZ +0.9%) has a deal to bundle ad-supported video-on-demand network Pluto TV (VIAC -3.1%, VIACA -4.1%) for its U.S. customers.
The companies are calling it the first comprehensive distribution deal spanning pay TV, connected TV and mobile. Verizon last month announced a comprehensive linear carriage deal with ViacomCBS.
The new deal brings Pluto TV to Verizon’s audience of almost 116M wireless subscribers, 6M FiOS broadband customers, and 4M FiOS video subscribers.
NetEase (NTES +4.1%) has confidentially filed for its second listing in Hong Kong, Sina reports.
Size and other details haven’t been finalized, according to the report. But the listing is now expected in the second half of the year.
The company currently lists on Nasdaq and has a market cap of just over $42B.
