Newsletter 17102023

Newsletter 17102023: LinkedIn lays off 668 staff | Settlement Talks between Meta and Kenyan Content Moderators Collapse

Hi, We are trying a new newsletter provider - beehiiv. Mailchimp is making too expensive to share news.
Let us know what you think about it. 🙂

WORKFORCE

LinkedIn retrenches 668 staff in another round of layoffs

LinkedIn has announced another round of job cuts, stating that it is letting go of 668 people across its engineering, product, talent and finance teams. The Microsoft owned company stated that it was necessary and and a regular part of managing its business.

The company had laid off 716 jobs in May this year as it phased out its China app. This brings total job cuts this year to 1,384.……Continue reading
———————————————————————
Settlement Talks between Meta and Kenyan Content Moderators Collapse

In a recent turn of events, settlement talks have come to a halt between Meta, the parent company of Facebook, and a group of Kenyan content moderators. These moderators, numbering 184, had filed a lawsuit earlier this year, alleging unfair dismissal. The dispute emerged after they claimed to have lost their jobs at one of the subcontractors, Sama, for their involvement in union organization. Subsequently, they found themselves blacklisted from applying for similar positions at a second firm, Majorel, following Facebook’s change in contractors.

The court had proposed settlement discussions in August, with a directive that the case would proceed to court if an out-of-court resolution couldn’t be reached.……Continue reading

ACQUISITIONS

African Bank Holdings Expands Through Acquisition Ahead of 2025 IPO

African Bank Holdings Ltd. has taken a significant step in expanding its lending business by acquiring two units from a prominent South African financial services company. This strategic move comes as African Bank prepares for a proposed initial share sale in 2025. The acquisition, totaling 3.26 billion rand ($172 million), was completed through the purchase of the commercial property and capital equipment financing businesses from Sasfin Holdings Ltd.’s units, as confirmed by the company in a recent filing….Continue reading

PRODUCTS

Qatar Airways Partners with Starlink for Enhanced In-Flight Connectivity

Qatar Airways announced that it has forged an exciting partnership with Starlink, SpaceX’s innovative satellite internet service. This collaboration will make Qatar Airways the largest airline to collaborate with Starlink, setting the stage for an unrivaled in-flight connectivity experience for passengers.

As part of this venture, Qatar Airways is set to roll out a complimentary high-speed, low-latency internet service on specific aircraft and routes. This development is poised to elevate the airline’s already stellar 5-star onboard experience. Once activated, passengers can look forward to enjoying blazing-fast Wi-Fi speeds of up to 350 Megabits per second.….Continue reading

OTHER STORIES

• It seems Goldman Sachs wants out of the Apple Card Business, Report Claims. Even though some months back. Many Goldman executives are questioning whether the foray into consumer banking should have ever happened ….Gizmodo

• Bill & Melinda Gates Foundation invites proposals to advance innovations in women’s health ….Nairametrics