Top Tech News Today: Twitter Plans to Close Its Co-Working … – Analytics Insight

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What’s New Today: In the Midst of Tech Layoffs and WFH Demands, Meta and Microsoft are Closing Their Offices in The United States.
Fast-Track Insights: SHIBA INU Launches Shibarium Beta L2 Blockchain Platform Using $Bone as Native Token.
Twitter India is reportedly closing their co-working facilities in India as the company continues to explore for ways to cut costs in the face of uncertain macroeconomic conditions. According to Moneycontrol, which cited sources, Twitter is in talks to quit its co-working spaces in Delhi and Mumbai. According to the article, the corporation has also closed its Bengaluru office. Twitter employees in Mumbai worked from a WeWork location, while those in Delhi worked from The Executive Centre (TEC) in Delhi’s Qutub region. There were “few co-working chairs” in Bengaluru, but the facility is no longer being used as the corporation looks for ways to save costs. WeWork and TEC have yet to corroborate these reports.
Meta (Formerly Facebook) and Microsoft are closing their offices in Seattle and Bellevue, Washington. The decision comes only days after Twitter made a similar step to slash costs in the face of uncertain macroeconomic conditions. According to the Seattle Times, Facebook’s parent company, Meta, has confirmed plans to sublease offices in downtown Seattle and Bellevue. Facebook’s headquarters are in Menlo Park, California. According to the source, Microsoft will not extend its lease at the 26-story City Center Plaza in Bellevue. The lease will expire in June 2024. Microsoft’s headquarters are in Redmond, Washington.
Another round of layoffs has impacted Amazon employees throughout the world, as the corporation aims to eliminate nearly 18,000 positions. Over 1,000 individuals will apparently be laid off in India, and LinkedIn is full with anecdotes of people dealing with the news. One of those affected by the layoffs was an IIT Mandi graduate working at Amazon’s Bengaluru branch, who published his tale on LinkedIn. The software development engineer joined the tech giant only six months ago, originally as an intern for three months, and his position with Amazon began in July 2022 and ended recently.
Shaktikanta Das, the governor of the Reserve Bank of India, is still sceptical of cryptocurrencies. The Reserve Bank of India (RBI) has issued a strong warning about using Bitcoin and other digital currencies. Citing the crash of FTX, RBI governor Shaktikanta Das said that these unstable instruments ‘are nothing but gambling’ and their apparent value is based solely on “make-believe”. Speaking at a Business Today event, Das launched a barrage of criticism at cryptocurrency, claiming that any asset or financial instrument must have some underlying worth. According to Das, cryptocurrencies, like tulip manias in the early twentieth century, have no actual value. He highlighted that cryptocurrency is “nothing but pure speculation.”
Shibarium, a new blockchain platform from the Shiba Inu team, is slated to launch as a remedy for high gas fees on the Ethereum network. Shibarium was created to address a common hurdle for consumers wishing to make minor transactions in their daily lives, with fees of $50-$100 placed on top of a fractional $15 purchase, making it impossible and unrealistic for many to use these digital assets in their daily activities. Shibarium, the much-anticipated Layer 2 blockchain platform, has also stated that its native currency, $BONE, would be used to pay for gas transactions as well as to reward protocol validators and delegators.
Disclaimer: The information provided in this article is solely the author’s opinion and not investment advice – it is provided for educational purposes only. By using this, you agree that the information does not constitute any investment or financial instructions. Do conduct your own research and reach out to financial advisors before making any investment decisions.
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