- Waivly
- Posts
- 💼 Peloton Lays Off 15% Of Workforce
💼 Peloton Lays Off 15% Of Workforce
As CEO Barry McCarthy steps down
Hey Waivly Crew! 🌊 Peloton CEO Barry McCarthy is stepping down as the company lays off about 15% of its staff. Microsoft has committed to investing $2.2 billion in cloud computing and AI services in Malaysia.
🎉 Get 50% Off Waivly+ By Joining Today | Offer Ends May 31st 🎉
Want more from us at Waivly? Join Waivly+, the premium Waivly membership that gives you access to exclusive Web3, AI, and tech content, insights, news, a members-only weekly newsletter edition, and more, all blended into one super low-cost and quick to join membership 🙌 Click here to get onboard and to become a Waivly+ Crew member!
X is changing how the block button works
Elon Musk's dislike of the block button is no secret, and now, X is adjusting how blocks function on its platform. While it's not eliminating the feature entirely, X is altering the visibility of replies within the context of blocking.
Previously, users could block someone and still reply to their posts without the blocked person seeing it. Now, direct replies will be visible to the blocked user, aligning with X's commitment to transparency. X's engineering team hinted at further changes to the block feature, emphasizing the aim to empower users while maintaining public post visibility.
This aligns with Musk's previous remarks advocating for the removal of the public-facing block feature. Though the current adjustments may be welcomed by some users seeking more insight into platform interactions, they hint at broader modifications ahead.
Grab this high success rate CV template
Your CV is your first impression to employers, make it count 💯 We've got a perfect CV template for you to use in your job search which has one of the highest success rates out of any format.
It includes all the information employers need to see in a clear and straightforward way. Get it now at Work.Waivly.com and supercharge your application efforts now! 🙌
Peloton slashes 15% of its staff as CEO steps down
Peloton announced Thursday that CEO Barry McCarthy will step down, and the company will cut 15% of its staff to align spending with revenue. McCarthy, a former executive at Spotify and Netflix, will become a strategic advisor, while Karen Boone and Chris Bruzzo will serve as interim co-CEOs. Peloton seeks a permanent CEO.
The company's restructuring plan includes reducing global headcount by 15%, closing retail showrooms, and revising international sales. It aims to realign costs with its current business size, expecting over $200 million in annual expense reduction by fiscal 2025. Half of these savings will come from payroll cuts, with the remainder from reduced marketing, retail footprint, and IT spending.
The restructuring primarily affects Peloton's research, marketing, and international teams, according to finance chief Liz Coddington. Peloton anticipates improved cash flow, enabling continued investment in innovation, member support, and marketing to scale the business.
The Waves
💼 Arkansas legislature passes two bills to regulate crypto mining
🤖 OpenAI CEO Sam Altman calls GPT-4 “the dumbest model”
✏️ Snapchat now lets you edit your messages after sending
🎮 LinkedIn brings games onto its platform
Discover more Waves in the Waivly Community. Click here to get onboard! 🌊
Meco - The Best New App for Newsletter Reading
Meco is a distraction-free space for reading newsletters outside the inbox 📰 The app is completely free and packed with features designed to supercharge your learnings from your favourite writers.
Become a more productive reader and cut out the noise with Meco - try the app today by clicking the button below!
AI Special
Microsoft is diving into Malaysia's digital transformation with a hefty $2.2 billion investment in AI and cloud infrastructure. This move, announced by Microsoft CEO Satya Nadella, follows similar initiatives in Indonesia and Thailand.
Nadella's announcement on Thursday outlined plans to establish an AI Centre of Excellence and provide education and training to 200,000 individuals in Malaysia. During his visit to Kuala Lumpur, the final leg of a tour across Southeast Asia, Nadella emphasized Microsoft's commitment to supporting Malaysia's AI evolution for the benefit of all Malaysians.
According to Zafrul Abdul Aziz, Malaysia's minister of investment, trade, and industry, this investment signifies a strong partnership built on trust. He highlighted Malaysia's growing reputation as a tech investment hub, attributing it to the country's well-established semiconductor ecosystem.
Anthropic has launched a mobile app for its Claude AI on iOS, allowing users to seamlessly transition between devices while retaining their chat history. The app supports file uploads and real-time image processing from the iPhone gallery. Accessible on all plans, including the free tier, users can now engage with Claude effortlessly.
Introducing a new subscription option, the Team plan offers expanded usage and access to the Claude 3 model family, including Opus, Sonnet, and Haiku. Priced at $30 per user per month with a minimum team size of five, it accommodates longer document processing with a 200,000 context window.
In March, Anthropic touted Claude 3's superiority over competitors in various benchmarks, particularly in graduate-level reasoning and multilingual math. The Opus model demonstrated near-human capabilities, making it suitable for intricate and time-sensitive tasks.
Waivly Work Highlights
👩💻 Business Development Representative at Cority
👩💻 VP Business Operations & Strategy at OP Labs
👩💻 SR PHP Backend Development at ília
👩💻 Insurance Admin Assistant at OutSta
That wraps up today’s newsletter
We hope you enjoyed today’s newsletter. Let us know what you thought of it by sharing your opinion on the poll below. Want to share feedback or suggestions? Respond to this email - We read every reply! Make sure to follow us on X, TikTok, YouTube, Instagram, and LinkedIn for even more content throughout the day - We’re @Waivly everywhere!
Want more from us at Waivly? Join Waivly+, the premium Waivly membership that gives you exclusive Web3, AI, and tech content, insights, and news, a weekly members-only newsletter edition, and so much more, all blended together into one super low-cost and quick to join membership 🎉 Click here to get onboard and to become a Waivly+ Crew member! Enjoy a huge 50% off saving on your membership by joining today.
*Waivly+ is the premium Waivly membership. Join at anytime by clicking “Subscribe” on the Waivly website, and cancel anytime by heading to your account on Waivly.
*Meco is an advertiser working with Waivly. The Meco section of this newsletter is an advertisement.
*Want to advertise with Waivly? Click here to see our Advertisement packages.
Reply