Restructuring at Meta, Ugly Day For Apple
Bloomberg Tech
Bloomberg
4.4 • 70 Ratings
🗓️ 29 September 2022
⏱️ 43 minutes
🧾️ Download transcript
Summary
Bloomberg's Ed Ludlow, in for Emily Chang, breaks down Meta's sweeping restructuring plan and how the company will reduce headcount for the first time ever. Plus, a look at Apple's rare analyst downgrade, and why a top executive is leaving the company after 22 years.
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Transcript
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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 collide, |
| 0:35.0 | in Silicon Valley and beyond, |
| 0:38.0 | this is Bloomberg Technology with Emily Chang. Jang. I'm a lot. |
| 0:43.0 | I'm a lot. in New York in for Emily Chang. This is Bloomberg Technology. |
| 0:58.6 | Coming up in the next hour, Mark Zuckerberg warns meta employees that are restructuring is on the horizon. |
| 1:04.4 | The company is implementing a hiring freeze and will shrink teams to quote shift energy |
| 1:10.0 | to other areas. |
| 1:11.0 | We'll share more of the transcript obtained by Bloomberg. |
| 1:14.4 | Plus, Apple gets downgraded following Bloomberg's report about iPhone production. |
| 1:19.1 | And now we're learning of a high profile executive leaving the company after a crude |
| 1:24.0 | tick-top of him went viral. And we've got to talk about the sell-off |
| 1:28.0 | across financial markets. The S&P 500 drops to a 22-month low as the Fed Hawks circle. |
| 1:34.2 | Big Tech takes a beating. |
| 1:36.2 | I want to get straight to that Micron conversation |
| 1:38.5 | and bring in Joanne Feeney, |
| 1:40.3 | advisors capital management partner and portfolio manager. Joanne, give me a second while I bring. Advisors Capital Management, Partner and Portfolio Manager. |
| 1:43.2 | Joanne, give me a second while I bring you some of the headlines. |
... |
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