Morning Consult Brands: Meta to Lay Off 10,000 More Employees as Part of Zuckerberg’s ‘Year of Efficiency’




 


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Essential marketing and PR news & intel to start your day.
March 15, 2023
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Today’s Top News

  • Meta Platforms Inc. will eliminate approximately 10,000 more jobs across its human resources, technology and business teams through multiple rounds of layoffs over the coming months, the tech giant announced. In an email to staff, Chief Executive Mark Zuckerberg said the company will also cancel several internal projects and cease hiring for 5,000 open positions as part of his “year of efficiency” effort. (The Wall Street Journal)
  • Alphabet Inc.’s Google announced plans to integrate artificial intelligence technology into its suite of Workspace apps, including Gmail and Google Docs, allowing users to generate long-form text, images and video with just a few brief bullet points of input. (The Verge) Meanwhile, the company on Tuesday rolled out a multiview option for its YouTube TV product, which lets select users watch up to four streams at once. (TechCrunch
  • Apple Inc. is reportedly limiting hiring and reducing the frequency of bonuses for a portion of its corporate workforce, the latest developments in the iPhone maker’s cost-cutting effort, which formally began last July. One of the only major tech companies to avoid mass layoffs thus far, Apple is also reigning in travel budgets and scrutinizing how often employees come into the office. (Bloomberg
  • The General Motors Co. Global Chief Marketing Officer Deborah Wahl is stepping down from her post, which she assumed in 2019, at the end of this month. Wahl led the creation of the “EVerybody In” phrase to hype the brand’s electric vehicle offerings. (Ad Age)
 

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What Else You Need to Know

Advertising
 

Dow Jones Begins Agency Review for Creative, Media and More

Brian Bonilla, Ad Age

Dow Jones had previously worked with WPP’s The&Partnership and m/SIX since 2014.

 

Man Sues Buffalo Wild Wings Over ‘Boneless’ Wings

Derrick Bryson Taylor, The New York Times

The plaintiff claims the wing chain is falsely advertising its boneless wing products, which he says are more like chicken nuggets.

 

Women’s March Madness Ad Inventory Sells Out

Amanda Christovitch, Ad Age

ESPN announced that it had filled all ‘in-game sponsorship opportunities’ for the women’s tournament.

 
Media/Entertainment/Influencers
 

With Advertising And Content Revenue Down, BuzzFeed Turns To AI And Vertical Video

Anthony Vargas, AdExchanger 

In today’s harsh economic climate for digital publishers, BuzzFeed hopes its investments in trendy tech like generative AI and short-form vertical video will eventually pay dividends.

 

Sinclair’s regional sports unit files for Chapter 11 bankruptcy

Meg James, The Los Angeles Times

Sinclair Broadcast Group’s big bet on regional professional sports veered into Bankruptcy Court on Tuesday as the company’s unit that broadcasts local games filed for Chapter 11 protection.

 

Roku City Comes to Life to Highlight Expanded Best Buy Partnership at First SXSW Pop-Up

Shannon Miller, Adweek

The brand leans into the whimsy of its famed screensaver in major activation.

 
Social Media and Technology
 

Microsoft Signs Third ‘Call of Duty’ Deal as It Seeks Approval to Buy Activision Blizzard

Kim Mackrael, The Wall Street Journal 

Agreement is part of push to convince regulators that the planned $75 billion acquisition won’t harm the videogame industry.

 

OpenAI releases GPT-4, a multimodal AI that it claims is state-of-the-art

Kyle Wiggers, TechCrunch

OpenAI has released a powerful new image- and text-understanding AI model, GPT-4, that the company calls “the latest milestone in its effort in scaling up deep learning.”

 

SVB collapse was driven by ‘the first Twitter fueled bank run’

Jennifer Korn, CNN

The massive amount of customer withdrawals that led to the collapse of Silicon Valley Bank had all the hallmarks of an old-fashioned bank run, but with a new twist befitting the primary industry the bank served: much of it unfolded online.

 

Microsoft Teams will let you transform into a 3D avatar in May

Tom Warren, The Verge

Microsoft originally announced avatars for Teams in 2021 and it’s finally shipping them to all Teams users in May. No camera needed.

 

Amazon to Test Satellite Internet Service Starting Next Year

Loren Grush and Matt Day, Bloomberg

Amazon.com Inc. plans to launch its first Project Kuiper production satellites in 2024 and start beta testing its ambitious internet-from-space service with customers the same year. 

 

TikTok is adding a third feed just for science and math videos

Mia Sato, The Verge

The STEM feed, next to the Following and For You pages, will feature content on science, technology, engineering, and math topics.

 
PR/Marketing/Retail
 

After sales stumble, BodyArmor enlists J-Lo for biggest campaign in brand’s history

Kendra Clark, The Drum

The performance beverage brand aims to connect with fitness-minded adults in its new campaign, which is costing Coke a pretty penny.

 

How Silicon Valley Bank’s collapse could compound a marketing slowdown

Peter Adams, Marketing Dive

Funding prospects for martech and ad-tech startups could dry up, along with media spend that’s already been on a steady downward trajectory.

 

Amazon Prime Facilitates Self-Discovery Through Shopping in Olivia Wilde-Directed Short

Sara Century, Adweek

W+K London teams with the brand to tell the story of a trendsetting ‘Tache.’

 

H&M taps ThredUp for resale program

Tatiana Walk-Morris, Retail Dive

Indicating the continued rise of recommerce, H&M has teamed up with ThredUp to launch its first resale service, “H&M Pre-Loved,” according to a Tuesday press release. 

 

Apple launches a new way to shop online for iPhones with help from a live specialist

Sarah Perez, TechCrunch

Apple today is announcing a new way to shop for iPhones. The company is introducing a new service, “Shop with a Specialist,” that will offer customers in the U.S. a live video shopping experience directly on the apple.com website. 

 

Zara Tightens Grip on Fast-Fashion Crown, Pulling Further Ahead of H&M

Trefor Moss, The Wall Street Journal

Retailer’s pricier offering helps better differentiate from low-price rival Shein.

 
Work and Management
 

If ChatGPT Writes Your Cover Letter, Is It Cheating? Some Bosses Think So.

Anne-Marie Alcántara, The Wall Street Journal

As AI reaches the masses, workers are using it to dress up job applications and résumés.

 

Tyson Foods to lay off 1,700 workers, close two chicken plants

Amelia Lucas, CNBC

In its latest quarter, Tyson’s chicken business underperformed expectations as its operating income was halved compared with the year-ago period.

 

Mark Zuckerberg says engineers who joined Meta in-person perform better than those who joined remotely

Paul Sawers, TechCrunch

Mark Zuckerberg, co-founder and CEO of Facebook parent Meta, has pointed to internal data analysis that suggests engineers who initially joined the company in an in-person capacity performed better than those who joined remotely from the get-go.

 

How CEOs are using ChatGPT across their businesses—and what they warn are the biggest risks so far

Orianna Rose Royle, Fortune

Fortune spoke to around 70 CEOs to see how they’re actually using the productivity tool.

 

Renting Agency Employees: Behind One Shop’s Potential Staffing Solution

Brian Bonilla, Ad Age

Anchor Worldwide launches a platform for agencies to hire contractors from other agencies.

 







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