More Job Cuts at Meta and Big Equity Firms Circle SVB Assets
Bloomberg Tech
Bloomberg
4.4 • 70 Ratings
🗓️ 14 March 2023
⏱️ 41 minutes
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Summary
Bloomberg's Caroline Hyde and Ed Ludlow break down Meta's restructuring plans to slash 10,000 roles and 5,000 vacant positions, and why the likes of Apollo and Blackstone are eyeing SVB's assets. Plus, a conversation with Founders Fund's Trae Stephens and former IBM CEO Ginni Rometty.
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| 0:00.0 | Join global business leaders and investors at the Bloomberg Sustainable Business Summit, returning to Singapore on July 31st. |
| 0:09.0 | Take part in solutions driven discussions on how to drive business value and unlock opportunity |
| 0:14.8 | while remaining nimble in times of change and greater ESG accountability. |
| 0:19.5 | Learn more at Bloomberg Live.com slash sustainablebiz Singapore. That's Bloomberg Live.com slash Sustainable Biz Singapore. |
| 0:24.0 | That's Bloomberg Live.com slash sustainable Biz Singapore. |
| 0:28.0 | From the heart of where innovation, money and power collie in Silicon Valley and beyond, |
| 0:37.0 | this is Bloomberg Technology with Caroline Hyde and Ed Ludlow. in Edla Loa. I'm Caroline Haida Bloomberg's world headquarters in New York. |
| 0:58.0 | And I'm Elleudlow in San Francisco. |
| 1:00.0 | This is Bloomberg technology and a banking crisis to layoffs keeps the tech sector in focus |
| 1:04.2 | Caroline. |
| 1:05.2 | Yeah from crisis to fundamentals we talk jobs we talk inflation coming up let's talk exactly |
| 1:09.7 | that more job cuts at Meta in particular the The company planning to slash 10,000 |
| 1:14.1 | rolls ed and 5,000 vacant positions. More than the companies will be |
| 1:17.5 | structuring ahead. And we'll have the latest on the collapse of Silicon Valley Bank |
| 1:21.8 | and the big three private equity firms looking to |
| 1:24.4 | snap up the bank's assets. |
| 1:26.6 | And sticking with S. V. We'll take a deeper dive into the state of venture capital |
| 1:31.3 | and talk executive leadership. The Trey Stevens of founders fund and former IBM CEO Ginny Rometi. |
| 1:37.0 | But again, day two of our new time of this show and we look at the market repercussions. |
| 1:42.4 | What a difference today makes as we drive |
| 1:44.4 | higher on the NASDAQ but this time we see Bonnields actually rising after we saw yesterday |
| 1:48.6 | the collapse in borrowing costs as we anticipated the Federal Reserve that just had to |
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