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  • Wall Street Journal: Meta is planning significant layoffs | CNN Business

    Wall Street Journal: Meta is planning significant layoffs | CNN Business

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    CNN Business
     — 

    Facebook-parent Meta is planning the first significant layoffs in its history as the company grapples with a shrinking business and fears of a looming recession, according to the Wall Street Journal.

    The job cuts are expected to impact thousands of workers and could begin as early as this week, the Journal reported over the weekend, citing unnamed people familiar with the matter. Meta has a headcount of more than 87,000, according to a September SEC filing.

    Meta declined to comment on the report.

    On a conference call last month to discuss its earnings results for the third quarter, CEO Mark Zuckerberg said that he expects the company to end 2023 “as either roughly the same size, or even a slightly smaller organization than we are today.”

    The possible cuts come as tightened advertiser budgets and Apple’s iOS privacy changes have weighed on Meta’s core business. The company last month posted its second quarterly revenue decline and reported that its profit was cut in half from the prior year. The drop in profitability is largely driven by the billions Meta is spending to build a future version of the internet called the metaverse that likely remains years away.

    Once boasting a market capitalization of more than $1 trillion last year, Meta is now valued at about $250 billion. (After reports of the job cuts, Meta’s stock opened more than 5% higher on Monday morning.)

    Meta is far from the only tech company said to be rethinking staffing. In a stunning shift for an industry sometimes thought of as untouchable, a number of tech companies have announced hiring freezes or job cuts in recent months, often after having seen rapid growth during the pandemic.

    Last week, rideshare company Lyft said it was axing 13% of employees, and payment-processing firm Stripe said it was cutting 14% of its staff. The same day, e-commerce giant Amazon said it was implementing a pause on corporate hiring.

    Facebook-rival Twitter made sweeping cuts across the company on Friday under its new owner, Elon Musk. The cuts impacted its ethical AI, marketing and communication, search and public policy team, among other departments.

    In the days since, however, Twitter

    (TWTR)
    has reportedly asked dozens of laid off employees to return, according to Bloomberg.

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  • Blinken speaks to Russian foreign minister about WSJ reporter Evan Gershkovich and Paul Whelan | CNN Politics

    Blinken speaks to Russian foreign minister about WSJ reporter Evan Gershkovich and Paul Whelan | CNN Politics

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    CNN
     — 

    US Secretary of State Antony Blinken spoke Sunday with Russian Foreign Minister Sergey Lavrov and called for the “immediate release” of detained Americans Evan Gershkovich and Paul Whelan, according to the US State Department.

    “Secretary Blinken conveyed the United States’ grave concern over Russia’s unacceptable detention of a U.S. citizen journalist,” a readout from the department said.

    “Secretary Blinken further urged the Kremlin to immediately release wrongfully detained U.S. citizen Paul Whelan,” the readout continued, adding that the secretary and Lavrov “also discussed the importance of creating an environment that permits diplomatic missions to carry out their work.”

    Gershkovich, a Wall Street Journal reporter based in Russia, was detained last week on charges of espionage – the first time an American journalist has been detained on such accusations by Moscow since the Cold War. US officials in Moscow had not yet been granted consular access to Gershkovich as of Sunday.

    The Journal’s editor-in-chief, Emma Tucker, said Sunday that the call between Blinken and Lavrov was “hugely reassuring.”

    “We know that the US government is taking the case very seriously right up to the top,” she told CBS News.

    Whelan, meanwhile, is serving out a 16-year prison sentence for the same charges, which he strongly denies. His brother David Whelan said in an email to the press Thursday that his family was sorry to hear “that another American family will have to experience the same trauma that we have had to endure for the past 1,553 days.”

    Whelan has been designated as wrongfully detained by the US State Department, and Gershkovich is expected to receive the same designation but had not yet as of Sunday morning. Tucker said she hopes the US government will act swiftly to label Gershkovich as wrongfully detained, saying it will be anofficial recognition that the charges against the reporter are “entirely bogus.”

    The Russian Foreign Ministry said in a statement that Sunday’s phone call was initiated by the US and that Lavrov told Blinken that Gershkovich’s fate would be determined by a Russian court.

    Lavrov also blamed Washington and the Western press for politicizing the arrest.

    “It was emphasized that it is unacceptable for officials in Washington and Western media to hype up [the issue] with the clear intention of giving this case a political coloring,” the statement said.

    Gershkovich is currently being held in the notorious Lefortovo pre-detention center until May 29. He faces up to 20 years in prison on espionage charges.

    Sunday’s call was only the third time that Blinken has spoken with his Russian counterpart since the war in Ukraine began, and all of those conversations have discussed detained US citizens. The two spoke in person for the first time since the war broke out on the sidelines of the G20 foreign ministers meeting in India last month, and Blinken said he raised the issues of the war, Russia’s suspension of its participation in the New START nuclear agreement, and Whelan’s ongoing detention.

    The chairman of the House Intelligence Committee on Sunday expressed support for the Biden administration’s efforts to negotiate with Russia for Gershkovich’s release.

    “Certainly the Biden administration should continue its efforts to negotiate and to try to get the release of this journalist, but overall, people should be very cautious about staying in Russia,” Republican Rep. Mike Turner of Ohio told CNN’s Dana Bash on “State of the Union.”

    Turner noted that the US government “gave people notice that they should get out of Russia” and said he would continued to encourage people to do so. The Biden administration has echoed those assessments. While the Kremlin has asserted that Russia is safe for accredited journalists, White House press secretary Karine Jean-Pierre told CNN on Friday, “Russia is not safe for Americans.”

    Turner appeared on “State of the Union” on Sunday from southern Poland, where he said he is “meeting with those who are active in intelligence and meeting with our servicemembers who are active in the support of Ukraine.”

    Pressed by Bash on remarks by Chairman of the Joint Chiefs of Staff Gen. Mark Milley that the war in Ukraine will likely not be won this year, the Ohio lawmaker appeared to agree.

    “One thing I can tell you is that Russia is not going to win either,” he said. “This is a war that Russia is not winning, and they’re not winning it because Ukraine realizes that they’re standing up for democracy, they’re fighting for their country. And as they continue to do so, the United States’ assistance and certainly the assistance of our NATO allies and partners are making a huge turnout for the battlefield.”

    This story has been updated with additional reaction.

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  • US designates Wall Street Journal reporter Evan Gershkovich as wrongfully detained by Russia | CNN Politics

    US designates Wall Street Journal reporter Evan Gershkovich as wrongfully detained by Russia | CNN Politics

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    Washington
    CNN
     — 

    The US State Department on Monday officially designated Wall Street Journal reporter Evan Gershkovich as wrongfully detained by Russia.

    “Today, Secretary Blinken made a determination that Evan Gershkovich is wrongfully detained by Russia,” State Department principal deputy spokesperson Vedant Patel said in a statement.

    The designation gives further backing to the assertions by the US government and the Wall Street Journal that the espionage charges against the reporter are baseless. It will empower the Biden administration to explore avenues such as a prisoner swap to try to secure Gershkovich’s release.

    His case will now be handled at the State Department through the Office of the Special Presidential Envoy for Hostage Affairs, which has played a key role in the release of US citizens held hostage and wrongfully detained around the world.

    Both of the Americans who have been recently brought home from Russia – Trevor Reed and Brittney Griner – had been designated as wrongfully detained and were freed in prisoner swaps.

    Paul Whelan, who has been imprisoned in Russia for more than four years on espionage charges that he and the US government deny, has also been declared wrongfully detained.

    In his statement, Patel said the “U.S. government will provide all appropriate support to Mr. Gershkovich and his family.”

    “We call for the Russian Federation to immediately release Mr. Gershkovich,” he said. “We also call on Russia to release wrongfully detained U.S. citizen Paul Whelan.”

    The editor in chief and publisher of the Wall Street Journal on Monday said they “are doing everything in our power to support Evan and his family and will continue working with the State Department and other relevant U.S. officials to push for his release.”

    “He is a distinguished journalist and his arrest is an attack on a free press and it should spur outrage in all free people and governments around the world,” the statement from Emma Tucker and Almar Latour said.

    Gershkovich was detained in late March and formally charged with espionage last Friday. As of Monday, officials at the US Embassy in Moscow had not been granted consular access to Gershkovich.

    “It is a violation of Russia’s obligations under our consular convention and a violation against international law,” Patel said at a State Department briefing Monday. “We have stressed the need for the Russian government to provide this access as soon as possible.”

    The official determination that Gershkovich is wrongfully detained comes after a bureaucratic process played out within the US government.

    US Secretary of State Antony Blinken said last week they were “very deliberately but expeditiously” carrying out that process, but “in (his) own mind, there’s no doubt that he’s being wrongfully detained by Russia.”

    The arrest of the journalist – the first of its kind in Russia since the Cold War – prompted the top US diplomat to make a rare call to his Russian counterpart.

    “Secretary Blinken conveyed the United States’ grave concern over Russia’s unacceptable detention of a U.S. citizen journalist,” a State Department readout of the April 2 call said.

    That call was only the third time that Blinken has spoken with Russian Foreign Minister Sergey Lavrov since the war in Ukraine began, and all of those conversations have discussed detained US citizens. The two spoke in person for the first time since the war broke out on the sidelines of the G20 foreign ministers meeting in India last month, and Blinken said he raised the issues of the war, Russia’s suspension of its participation in the New START nuclear agreement, and Whelan’s ongoing detention.

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  • The Voice of General Counsels a Game-Changing Influence at Ethisphere’s 10th Annual Global Ethics Summit

    The Voice of General Counsels a Game-Changing Influence at Ethisphere’s 10th Annual Global Ethics Summit

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    Top company legal minds assemble in New York City to discuss integrity as a performance accelerator.

    Press Release



    updated: Mar 1, 2018

    The Ethisphere Institute, a global leader in defining and advancing the standards of ethical business practices, announced today a roster of company legal practitioners anchoring a diverse faculty at Ethisphere’s 10th Annual Global Ethics Summit, March 14-15 at the Grand Hyatt in New York City.

    A special selection of current and former General Counsels (GC) and Deputy GCs will offer candid insights through interactive sessions with peers and other company officers highlighting some of the unique angles on corporate behavior today. Each leader will speak on a distinct range of topics impacting corporate integrity and performance in a global business environment rife with both opportunities and pitfalls.

    Among those topics are the emerging impact of artificial intelligence, global compliance team management, influence at the executive level, board-level relationship building, career-shaping, key insights into anti-bribery and corruption, careful execution through times of crisis, progressing the “speak up” culture and more.

    First-time members of the faculty leadership include:

    • Trish Walsh, Chief Legal Officer, Voya Financial, Inc.
    • Rich Rothberg, Senior Vice President and General Counsel, Dell
    • Ann D. Davidson, Senior Vice President, General Counsel and Corporate Secretary, L3 Technologies
    • Guillermo Bichara, Vice President, General Counsel and Corporate Secretary, Praxair, Inc.
    • Gregory L. Riggs, Former Senior Vice President – General Counsel and Chief Corporate Affairs Officer, Delta Air Lines, Inc.
    • David Pitofsky, General Counsel and Chief Compliance Officer, News Corp.
    • David Deitchman, Deputy General Counsel, Global Functions, Ethics & Compliance, HP Inc.
    • Michele M. Brown, SVP, Chief Ethics & Compliance Officer and Deputy General Counsel, Leidos
    • Callie Pappas, Vice President, Chief Compliance Officer & Deputy General Counsel, Schnitzer Steel Industries, Inc.
    • Tushar Chawla, General Counsel, India, JLL
    • Glenn Leon, SVP & Deputy General Counsel, Chief Ethics & Compliance Officer, Hewlett Packard Enterprise

    Among those returning to the Global Ethics Summit to offer new insights and advancements are:

    • David Howard, Corporate VP and Deputy GC, Litigation, Competition Law and Compliance, Microsoft Corporation
    • Lucy Fato, Executive Vice President & General Counsel, AIG
    • Edward A. Ryan, Former Executive Vice President and Global General Counsel, Marriott International, Inc.
    • Richard Buchband, Senior Vice President, General Counsel and Secretary, ManpowerGroup
    • Lynn Haaland, SVP, Deputy General Counsel, Global Chief Compliance & Ethics Officer and Chief Counsel, Cybersecurity, PepsiCo, Inc.
    • Kathryn Ditmars, Global Litigation Director and General Counsel, Americas, JLL

    Drawing from Ethisphere’s Business Ethics Leadership Alliance (BELA) community and further enriched from a broad selection of additional multinational companies, the Global Ethics Summit is the premier annual event connecting some of the most respected and diverse company leaders. Senior representatives come together to share forward-thinking practices and amplify the need for greater application of values ethical culture, and responsible practices. CEOs, board members, GCs/CLOs, corporate secretaries, chief compliance officers, law firm partners, and other influencers participate in the Summit to examine together the ways in which companies can make a difference in doing good.

    “Throughout the Summit, there will be more than 70 speakers each contributing unique perspectives and meaningful advice, but the voices of General Counsels continue to be transcendent as these are roles that are make-or-break for the executive team and the company itself,” said Kevin McCormack, Vice President of Global Thought Leadership & Programs at Ethisphere. “You simply cannot have the proper calibration of many of the issues addressed at the Summit without GCs in the mix. They are a universal connector when it comes to balancing risk, integrity, culture, and strategy within the organization. From the GCs involved each year, we see that while they may represent very different organizations and industries, there is a shared purpose and commitment to continuous improvement enabling companies to perform better while keeping their values intact.”

    Join these leaders and other influencers among over 400 delegates as the Global Ethics Summit celebrates its 10th Anniversary March 14-15, 2018 at the Grand Hyatt New York City. Registration remains open but is closing soon: https://www.globalethicssummit2018.com.

    About Ethisphere 

    The Ethisphere® Institute is the global leader in defining and advancing the standards of ethical business practices that fuel corporate character, marketplace trust, and business success. Ethisphere has deep expertise in measuring and defining core ethics standards using data-driven insights that help companies enhance corporate character. Ethisphere honors superior achievement through its World’s Most Ethical Companies® recognition program provides a community of industry experts with the Business Ethics Leadership Alliance (BELA), and showcases trends and best practices in ethics with Ethisphere Magazine. Ethisphere is also the leading provider of independent verification of corporate ethics and compliance programs, including Ethics Inside® Certification and Compliance Leader Verification™. More information about Ethisphere can be found at http://www.ethisphere.com

    Media Contact

    Aarti Maharaj

    Director of Communications

    646-480-9715

    aarti.maharaj@ethisphere.com 

    Twitter: @Ethisphere

    Source: The Ethisphere Institute

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