TIKTOK JOB CUT
American Eagle Outfitters (AEO) stuns Wall Street with 25% stock surge after Sydney Sweeney’s ‘great jeans’ ad — is this retail’s boldest power play?
American Eagle stunned Wall Street after its stock soared 25% in a single session, powered not by a product overhaul but by a viral ad campaign fronted by actor Sydney Sweeney. The cheeky “great jeans” promotion turned into a cultural flashpoint, pulling in record customer engagement and boosting earnings well above expectations.
ByteDance's TikTok puts up job openings for Gurgaon office on LinkedIn
TikTok, the popular ByteDance-owned short video app banned in India, has posted two job openings at its Gurgaon-based office on LinkedIn. It’s looking for a content moderator (Bengali speaker) and wellbeing partnership and operations lead.
Who is Jay Carey? Army veteran who burnt US flag outside White House sparks shockwave after Trump's order
An Army veteran was detained after burning an American flag outside the White House on the same day that President Donald Trump signed an executive order seeking new consequences for doing so. A decorated Army veteran, Jay Carey served in the war of Iraq. He claimed his actions were protected under the First Amendment and intended to challenge perceived government overreach.
Hyperlocal deliveries fuel 300% stock rise for Shopee owner
Shopee, owned by Sea Ltd., has experienced a remarkable resurgence in Southeast Asia's e-commerce market, with its stock soaring. This comeback is largely attributed to SPX Express, Shopee's in-house logistics network powered by local community members. By investing heavily in its own delivery infrastructure, Shopee has successfully navigated the region's logistical challenges, driving growth and investor confidence.
Troubles deepen at TCS; Honasa’s beauty-tech plan
Happy Tuesday! After announcing over 12,000 layoffs, TCS now plans to pause senior hiring and annual appraisals. This and more in today’s ETtech Morning Dispatch.
Tech layoffs: Amazon, Intel to cut more jobs amid AI push, cost control
Amazon has cut hundreds of AWS jobs amid wider tech layoffs, with Intel, Microsoft, and TikTok also reducing staff to curb costs and prioritize AI. Amazon’s CEO warned AI will impact office roles. Intel plans 5,500 U.S. cuts, Microsoft trims 4% of staff, and TikTok restructures its ecommerce division.
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This Quebec Tourism ad has Americans crying, and booking flights without thinking twice
Quebec tourism ad is winning American hearts with its emotional campaign, “Let Go. In Quebec.” This stunning video gently invites people to slow down, breathe, and escape daily chaos. It’s not just about snow-covered streets or winter festivals—it’s about how Quebec makes you feel. Going viral on TikTok with over 30 million views, the ad has sparked a wave of travel searches and real bookings. As Americans crave peace and emotional relief, this campaign delivers exactly that. Quebec isn't just a destination—it's become a feeling people want to experience. And now, they’re booking it fast.
AI will boost recruitment of developers, not replace them: GitHub CEO
According to Dohmke, AI acts as a force multiplier for engineering talent, enhancing individual output rather than replacing workers. He sees recent layoffs and hiring slowdowns across the tech industry as a short-term correction while companies assess how to fully integrate AI into their operations.
Microsoft’s H-1B hiring spree draws criticism amid US job cuts
US labour department filings show that Microsoft has put in 14,181 visa applications in the second quarter of FY2025. Microsoft has consistently said that the US does not issue enough H-1B visas to meet labour market demands.
Bizongo under criminal lens; Meesho files IPO papers
Invoice discounting platform TradeCred has filed a criminal complaint against Bizongo for alleged misappropriation of funds. This and more in today’s ETtech Top 5.
Tech layoffs: Microsoft, TikTok lead latest round of job cuts
Tech companies Microsoft and TikTok have recently announced job cuts. This reflects the broader trend of layoffs in tech sector affecting employees.
TikTok layoffs: Employees of TikTok’s ecommerce business face layoffs
TikTok job cut: TikTok and its parent company ByteDance are reportedly planning layoffs, with potential impact on TikTok Shop staff. The move comes amid internal restructuring and ongoing challenges in the US market, according to media reports. Uncertainty continues to cloud TikTok’s future in the country due to regulatory and political pressures.
Terrified of a recession, Gen Z in U.S turns to fast food deals, dumpster diving, and ChatGPT to cope without breaking the bank
Young adults in the United States are changing how they spend money. Many are worried about the economy and their debts. They are using new ways to save, like talking to chatbots instead of therapists. Some are sharing tips on social media. They are also cutting back on things like clothes and salon visits.
Tech layoffs: Google, Microsoft, Meta among companies leading 2025 layoffs
Tech giants are pressing ahead with job cuts in early 2025, with thousands of roles impacted globally. Companies like Google, Microsoft, Meta, and TikTok are restructuring to cut costs and refocus on priorities such as AI. Layoffs are continuing at pace, echoing similar trends seen throughout 2024.
Infosys layoffs escalate; Nvidia’s profit soars
The union labour ministry has urged Karnataka’s state labour commissioner to investigate the controversial Infosys layoffs. This and more in today’s ETtech Top 5.
Instagram courts TikTok stars during turbulent times
After officially increasing the allowed length of videos and adding a new editing tool, Meta recently began letting TikTok creators earn as much as $5,000 over three months for posting "Reels" to Facebook and Instagram. The "Breakthrough Bonus" program for eligible TikTok creators is intended to "help jumpstart their growth on our apps," a Meta spokesperson told AFP.
Instagram debuts new video-editing app Edits, as TikTok deals with a ban
On the day a new federal law banning TikTok took effect in the US, Instagram announced Edits, a video-editing app similar to CapCut. As TikTok faced uncertainty, Instagram aimed to provide creators with robust tools to edit and post videos to various platforms. Influencers and advertisers showed significant interest in Instagram Reels as a potential alternative.
TikTok stars and marketers brace for app's disappearance this month
TikTok ban: Marketers are shifting dollars to Instagram and amending their contracts with social media stars so they aren't stuck paying for sponsored TikTok posts in the app's absence.
TikTok slashes hundreds of jobs in AI shift
"We expect to invest $2 billion globally in trust and safety in 2024 alone and are continuing to improve the efficacy of our efforts, with 80% of violative content now removed by automated technologies," the spokesperson said in a brief statement.
ByteDance cuts over 700 jobs in Malaysia in shift towards AI moderation, sources say
The employees, most of whom were involved in the firm's content moderation operations, were informed of their dismissal by email late Wednesday, the sources said, requesting anonymity as they were not authorized to speak to media.
Tech layoffs in 2024: TikTok, Google and Amazon among companies undertaking job cuts
The new year brings more job cuts to the tech industry as layoffs continue in 2024. Thousands of tech and startup employees have been laid off, with 48 tech companies sacking 7,528 employees so far. Big Tech giants like Google and Amazon are planning to cut more jobs to reduce costs. Riot Games, Google, Amazon Audible, Amazon Prime Video, Twitch, Discord, Unity Software, Xerox, and Frontdesk are among the tech companies that have announced layoffs in 2024.
TikTok lays off employees to reduce costs: report
Chinese short-video app TikTok has announced layoffs, asking a certain number of employees to go to reduce costs. The job cuts mostly affected the sales and advertising division in Los Angeles, New York, Austin, and global locations. Reports vary on the number of employees laid off, with some mentioning 60 and others mentioning at least 100.
Spotify considering full-length music videos on app
Spotify, which did not immediately respond to a Reuters request for comment, already allows artists to upload looping GIFs, which plays when a music track is playing.
News junkies turn to TikTok to chart new paths in media
Since the surge in popularity of the short-form video app at the start of the pandemic, people have flocked to the platform to discuss, document and share what's happening in the world.
Gap grows between TikTok users, lawmakers on potential ban
The disconnect illustrates the uphill battle that lawmakers from both sides of the aisle face in trying to convince the public that China could use TikTok as a weapon against the American people.
TikTok-owner ByteDance cuts hundreds of jobs in China
The job cuts have been implemented at Douyin, the Chinese equivalent of TikTok with about 600 million daily users, as well as the company's gaming and real estate operations
Twitter drops flagship developer event as CEO Elon Musk trims workforce
Twitter on Thursday announced to cancel its flagship Chirp developer conference, as it goes through massive churning at the top echelons under the new CEO Elon Musk.
TikTok parent Bytedance starts layoffs in India after permanent ban
India was TikTok’s largest international market before it was initially barred, along with others, in the wake of border tension with China in June.
Trump threatens to cut off TikTok if Walmart, Oracle deal doesn't go through
Trump has for weeks threatened to ban TikTok, which is owned by China's ByteDance, on national security grounds unless an American company takes control of its US operations. TikTok has roughly 100 million users in the US, and Trump says the app gives China access to the personal data of Americans.
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