Employees at Twitter are reeling following revelations that the workforce may face massive cuts in the year ahead regardless of who owns the company. According to documents obtained by The Washington Post, Twitter’s current management plans to trim the payroll by about $800 million, representing nearly 25 percent of the company’s staff. However, Twitter denies that report. Meanwhile, Elon Musk, who is being sued to force consummation of his $44 billion Twitter purchase, is said to be contemplating elimination of three times as many jobs. Read more

Snap Inc. reported its slowest-ever quarterly growth, with revenue up 6 percent to $1.13 billion year-over-year in Q3. Due in part to a 25 percent spending increase, Snapchat’s parent logged a net loss of $359 million, far exceeding the $72 million loss a year prior. Interestingly, Snap increased daily active users by 19 percent, to 363 million (surpassing analyst predictions of 358 million). Snap, like virtually every social media platform, has struggled to maintain revenue growth since Apple’s 2021 privacy changes made it harder to target ads. Read more

The Biden administration is implementing a cybersecurity labeling program designed to protect consumers using Internet of Things devices from “significant national security risks.” Beginning in the spring of 2023, IoT smart hardware will begin carrying a “label for products that meet U.S. government standards and are tested by vetted and approved entities,” according to the White House. The program will start with high-risk devices like routers and cameras. To jump-start the initiative, the White House hosted an IoT Cybersecurity Summit attended by national security officials, hardware manufacturers and representatives from consumer product associations. Read more

Live-stream shopping has been slow to take off in the U.S., but some feel the sector is at a tipping point. U.S. revenue from the format is projected to reach $20 billion this year and grow to $57 billion in 2025 says Coresight Research. However, that’s a drop in the bucket compared to the activity in Asia. McKinsey Digital says outlets like Alibaba can rack up more than $7 billion in 30 minutes. Estimates place the Asia-Pacific market at about $180 billion in live-streamed shopping for 2021. Now big players like Walmart, Target, YouTube and TikTok are getting serious about cracking open the U.S. market, too. Read more

Apple has unveiled two new iPads — the M2-powered iPad Pro starting at $799, and a reimagining of the flagship iPad that packs an A14 Bionic chip and comes in four colors (pink, yellow, silver or blue), starting at $449. Both ship on October 26, equipped with iPadOS 16, which Apple is making available October 24. The new operating system supports many new features including, on the Pro, a multitasking feature called Stage Manager. Later this year, Apple says the Pro OS will be updated to support external display resolutions of up to 6K. Read more