PayPal has begun company-wide layoffs, according to multiple reports, including an article published by The Information.It is not yet clear how many people will be affected by the job cuts but one source told TechCrunch it was expected to be in the “thousands.”TechCrunch has reached out to PayPal and will update this story if and when it responds.Nearly one year ago today, the company had announced plans to lay off 2,000 employees, or about 7% of its workforce.Over the past few months, PayPal has made a num ...

Group 1 - Arrival is being removed from the Nasdaq stock exchange as it approaches dissolution, with trading suspension effective January 30 [1] - The company failed to post financial results on time and did not file a remediation plan with Nasdaq [1] - Arrival had previously secured a $50 million lifeline to explore asset sales but is now in talks with EY for an administration process similar to bankruptcy [1] Group 2 - Arrival aimed to revolutionize electric vehicle production through microfactories, achieving a valuation of $13 billion after going public in 2021 [2] - The company has struggled to operationalize its business model, leading to multiple layoffs and a failed merger attempt with another SPAC [2] - Arrival's current valuation is approximately $20 million, and it has not delivered a fully operational vehicle to customers like UPS or Uber [2]

Amazon’s $1.4B iRobot deal is dead. Now what? Is the future of the home robot in jeopardy as iRobot lays off nearly one-third of its staff?A year and a half after announcing its intention to acquire iRobot, Amazon’s deal is officially dead. All parties involved anticipated some level of regulatory scrutiny, but after a few decades of tech company consolidation, few expected this  much friction. The deal had already passed through select international regulatory bodies, including the U.K. Ultimately, however ...

Amazon has ended its bid to acquire iRobot, the maker of robotic vacuums, after running up against stiff headwinds with European regulators.In a press release, the companies said that they saw “no path to regulatory approval in the European Union,” preventing them from moving forward. Amazon and iRobot mutually agreed to terminate their previously-announced acquisition agreement, under which Amazon would’ve purchased iRobot for ~$1.7 billion in cash (or slightly lower).“We’re disappointed that Amazon’s acqu ...

Tesla will spend $500 million to build one of its so-called “Dojo” supercomputers at its Buffalo, New York factory, the state’s governor Kathy Hochul said Friday during a news conference just days after CEO Elon Musk called the project a “long shot.”Tesla’s decision was “informed by New York’s reliable power supply, strong talent pipeline and availability of usable space for the project,” according to Hochul’s office.Dojo, which was first announced at Tesla’s “AI Day” event in 2021, is a supercomputer meant ...

Apple is on a roll when it comes to having its hand forced by state entities and governing bodies: Alternative payment methods, stripping features from existing hardware, allowing alternate app stores and genuine browser default competition – everywhere you turn it seems to be satisfying some reversal, owing either to trial judgements not going its way or to lawmakers regulating its preferred way of doing business out of existence.Apple does not enjoy this, which should surprise exactly no one. What should ...

Epic Games CEO Tim Sweeney is none too pleased with Apple’s new App Store rules, dubbing them once again a case of “malicious compliance” and filled with “junk fees.” As reported earlier this week, Apple decided it will charge fees on “sideloaded” apps in the EU — that is, apps and games downloaded from outside its own App Store, like those Epic desires to offer. Apple’s new rules, which go into effect in the EU as part of the tech giant’s compliance with the bloc’s Digital Markets Act (DMA), target larger ...

Tesla’s once-leading solar business is in decline, according to the latest figures from its fourth-quarter 2023 earnings report. The automaker revealed on Wednesday that its solar deployments cratered by 36% to a total of 223 megawatts (MW) last year, down from 348 MW in 2022. Although high interest rates slowed solar growth in some markets, Tesla’s shrinkage came as the United States notched a record year overall; the U.S. added 33 gigawatts of solar capacity in 2023, per estimates from SEIA, a solar indus ...

Amazon today announced that it is end-of-lifing Request for Assistance (RFA), a controversial tool that allowed police and fire departments to request doorbell video through Ring’s Neighbors app.“Public safety agencies like fire and police departments can still use the Neighbors app to share helpful safety tips, updates, and community events,” Neighbors app head, Eric Kuhn, noted in a blog post. “They will no longer be able to use the RFA tool to request and receive video in the app. Public safety agency po ...

Apple is determined to take a slice of in-app purchases, no matter how users access apps or make their payments, it seems. After dropping commissions to 27% following a court ruling that said Apple had to allow app developers the ability to point to their own payment options via the web, the company is now floating the idea that it could take a similar course of action for apps that are downloaded outside its App Store.In the EU, Apple will be subject to a new law that will for the first time allow users to ...