• Many major companies are requiring employees to return to the office full or part-time.
• Business Insider compiled a running list of the companies calling employees back.
• The list includes companies like Starbucks, Amazon, and BlackRock.

In September, Amazon mandated corporate workers return to the office five days a week beginning January 2.

In December, Business Insider first reported that AT&T is following suit and expecting employees to be in the office 40 hours a week starting in the new year.

The two business giants are just one of the many companies calling their employees back to the office following the pandemic as COVID-19 restrictions have eased.

The Washington Post, which is owned by Amazon founder Jeff Bezos, told employees this week they would be required to return to the office five days a week, according to a memo obtained by Business Insider.

Other major employers, including JPMorgan and Goldman Sachs, have also abandoned the hybrid attendance policy they adopted during the pandemic and instead implemented full return-to-office mandates.

Several executives and leaders have said they believe productivity increases when workers are in the office together, while others hope to increase in-person collaboration. Even some CEOs who previously praised the flexibility of remote work have started backpedaling, pressuring workers to comply with RTO mandates with threats to track attendance or even fire employees who don't comply.

Here's a list, in alphabetical order, of major companies requiring employees to return to offices. Business Insider will update this list regularly.

Amazon

CEO Andy Jassy wrote in a September 16 memo that Amazon would be pulling the plug on remote work starting next year.

"We've decided that we're going to return to being in the office the way we were before the onset of COVID," Jassy said. "When we look back over the last five years, we continue to believe that the advantages of being together in the office are significant."

The CEO cited easier employee collaboration and connection and said in-person work would strengthen the company's culture, echoing his February 2023 memo, which mandated employees spend at least three days a week in the office.

Not everyone agrees. Some Amazon employees have taken to an internal Slack channel to criticize the new RTO policy, Business Insider's Ashley Stewart first reported, with one staffer writing that it is "significantly more strict and out of its mind" than pre-Covid operations.

"This is not 'going back' to how it was before," they wrote. "It's just going backwards."

The critical reaction is reminiscent of employees' response to last year's surprise return-to-office rule. Thousands of Amazon workers joined a Slack channel to share their thoughts, with some even organizing to file a petition against the change.

Apple

In August 2022, Apple's senior leaders told workers they had to return to the office at least three days a week after previously requiring two days a week. CEO Tim Cook said the decision was meant to restore "in-person collaboration." Some employees fought back and issued a petition shortly after the announcement, arguing that staffers can do "exceptional work" from home.

Despite the pushback, Apple's hybrid work program launched the following month and is still in place.

AT&T

AT&T confirmed to Business Insider that it's requiring all office employees to work on-site five days a week starting in January.

The change follows about a year of AT&T accommodating a hybrid schedule in its widely publicized office push.

"The majority of our employees and leaders never stopped working on location for the full work week — including during the pandemic," a spokesperson for the telecom giant told BI.

AT&T told BI it's updating its facilities amid the policy change.

"As we continue to evolve our model, we are enhancing our facilities and workspaces, adapting our benefits programs, and incorporating best practices to ensure our employees are best equipped to serve our customers," the spokesperson added.

BlackRock

Last year, BlackRock mandated employees return to the office four days a week. The investment firm, which is headquartered in New York City, intended to bring employees into its then newly leased office space — which spans 1 million square feet across 15 floors, according to Hudson Yards.

In a May 2023 memo sent by the company's COO, Rob Goldstein, and the head of human resources, Caroline Heller, the execs wrote: "Career development happens in teaching moments between team members, and it is accelerated during market-moving moments, when we step up and get into the mix. All of this requires us to be together in the office."

Additionally, the memo notified staffers that the firm is giving them the opportunity to work remotely for two weeks during a time period that is relevant in their country, in an effort to offer "seasonal flexibility."

Chipotle

The fast-food chain announced last summer that corporate workers work in the office four days a week, Bloomberg reported. Chipotle had previously required workers to show up three days a week, according to the report.

Citigroup

Citigroup asked its 600 US workers, who were previously eligible to work remotely, to return to the office full-time, Bloomberg reported. In a memo released by the investment firm in May, the majority of staff are reportedly still able to work a hybrid schedule, with up to two days a week outside the office.

HSBC Holding Plc and Barclays Plc also followed suit, mandating workers to come into the office five days a week, according to the report.

Vaccinated Citigroup employees across the US were asked to return to the office for at least two days a week in March 2022, an internal memo obtained by Reuters said.

Dell

Dell told its sales staff to return to the office five days a week starting on September 30. Previously, the company let US employees pick between working remotely or following a hybrid schedule with about three days a week in the office.

September's sales-team mandate came with just a few days' notice, sending employees with kids into a hurry to find childcare, Business Insider reported.

Disney

In a January 2023 memo obtained by Business Insider, CEO Bob Iger told workers that starting that March, any Disney staff member working "in a hybrid fashion" would need to return to Disney's offices four days a week.

In response, over 2,300 employees signed a petition asking Iger to reconsider the mandate.

"This policy will slow, or even reverse, our post-COVID recovery and growth by creating critical resource shortages and causing irreplaceable institutional knowledge loss," signees wrote, according to The Washington Post.

Goldman Sachs

In March 2022, CEO David Solomon told Fortune that the company was asking employees to return to the office five days a week. Seven months later, he told CNBC that about 65% of staffers were working in the office.

However, some staff have failed to follow the policy a year into its implementation, causing senior managers to become frustrated and Goldman Sachs to further crack down on employees to return to the office full-time.

Google

In March 2022, Google employees in the San Francisco Bay Area and "several other US locations" were told to return to the office for at least three days a week starting the following month.

Last year, however, the company tightened RTO expectations, telling staff in an email that office attendance would factor into their performance reviews.

Google's Chief People Officer Fiona Cicconi told workers in the memo that requests to work remotely full time will now be considered "by exception only."

Some employees expressed feeling "frustrated" with the new policy. One staffer previously told Business Insider, "We don't like being micromanaged like school kids."

IBM

IBM has made its feelings on in-person work strictly clear — telling managers to either come into offices or get out.

The company asked all its US managers to report to an office or client location at least three days a week, according to a January memo viewed by Bloomberg.

A source told the outlet that staff would have to live within 50 miles of an IBM office or client location. The memo reportedly told employees they had until August to complete their relocation arrangements, and those who were unable to comply with the new policy must "separate from IBM."

CEO Arvind Krishna previously told the news outlet that employees' careers could suffer if they work from home. He said that although he wasn't forcing his own staffers back to the office, he thought remote workers may struggle to get promotions.

JPMorgan

In April 2023, JPMorgan announced to employees in a memo that all managing directors must work in the office five days a week. The memo also reminded other workers of the current policy of working in-person a minimum of three days a week.

Despite some pushback from employees, CEO Jamie Dimon doubled down on the policy, saying disgruntled workers can choose to go elsewhere.

"I completely understand why someone doesn't want to commute an hour and a half every day, totally got it," he told The Economist. "Doesn't mean they have to have a job here either."

The company has also been collecting data on staff activity, including tracking attendance.

Meta

Meta updated its remote work policies in September 2023, requiring employees to head into the office three days a week.

It had also stopped offering remote work in new job listings. People familiar with the company previously told BI that hiring managers could no longer post new jobs that list the work location as "remote" or outside of an existing office.

The company doubled down on its RTO efforts in June of this year, telling workers that their attendance would be tracked daily and failure to comply could lead to termination.

However, some employees returning to the office said they were met with a lack of space and privacy, with one worker calling the mandate "a mess."

Redfin

In April last year, real estate company Redfin announced an updated return-to-office policy via a memo from CEO Glenn Kelman.

The memo noted that starting July 2023, Redfin would require "headquarters employees" who live within 20 miles of the company's Seattle, San Francisco, and Frisco offices to work from the office for a full day on Tuesdays and Wednesdays.

Those who live beyond the 20-mile radius are required to visit the office in-person once a quarter for a day or more of meetings, the company said.

In order to hold employees accountable, the memo included a "no-exceptions" section, reading that "to determine your distance from an office, we'll use Google Maps, with the distance from your home address measured in miles driven over roads by car."

Salesforce

Salesforce told employees in an internal memo seen by The San Francisco Standard that the majority of workers have to be in an office four to five days a week as of October 1.

The new policy is mandated for select staff in sales, workplace services, data center engineering, and on-site support technicians, according to the memo.

Early last year, Salesforce CEO Marc Benioff revised the company's annual strategic plan, including return-to-office mandates, according to a draft shared in an internal Slack message viewed by Business Insider.

The updated draft return-to-office policy required nonremote employees to work three days a week in the office and employees in "non-remote" and "customer-facing" roles to work four days a week. Engineers must work from the office 10 days per quarter, down from 20 in the initial draft, which was updated based on employee feedback.

Snap

Snap implemented a new mandate in September 2023, requiring employees to work in an office at least four days a week. The change represented a shift from the company's former "remote first" policy, which allowed employees to work from home or elsewhere.

Employees previously told BI that some managers told them the company is able to track workers' WiFi connections to see who is complying.

Starbucks

In a January 2023 memo to corporate staffers, then-CEO Howard Schultz said employees within commuting distance would be required to return to the office at least three days a week.

Schultz said some staff had failed to "meet their minimum promise of one day a week" and also pointed out that Starbucks baristas didn't have the "privilege" of working from home. The executive had previously said he "pleaded" with workers to come back to the office.

Starbucks employees responded by signing an open letter protesting the company's return-to-office mandate.

In September, former Chipotle CEO Brian Niccol took over as CEO of the coffee chain.

In October, the company threatened to fire staff if they did not comply with the RTO policy, Bloomberg first reported, citing an internal memo.

Beginning in January, the company plans to initiate a "standardized process" to hold workers accountable to the hybrid schedule at the team level, where consequences will cover "up to, and including, separation," according to the email obtained by Bloomberg.

Employees, however, may request exemptions due to physical or mental medical reasons.

Tesla

In June 2022, Tesla employees were notified of a mandatory return-to-office policy.

The email from Elon Musk included wording such as "If you don't show up, we will assume you have resigned," and noted that everyone at Tesla must work from the office at least 40 hours a week.

Musk, who has called remote work "morally wrong," nodded to his frequent presence at Tesla factories as the reason for the business' success. "If I had not done that, Tesla would long ago have gone bankrupt," he wrote in the email.

Ubisoft

In September, Ubisoft, the France-based maker of the popular "Assassin's Creed" and "Far Cry" video game series, ordered its staff worldwide to return to the office three days a week.

French workers at the video game maker went on strike on October 15 over the RTO mandate.

X

After buying X, formerly Twitter, in 2022, Musk told employees that not showing up to an office when they're able to was the same as a resignation.

Musk also told staffers in an email that remote work was no longer allowed and that employees were expected to be in the office for at least 40 hours a week unless given explicit approval to work elsewhere.

In 2023, X, then Twitter, National Labor Relations Board filed a formal complaint saying that X had illegally fired an employee who complained about Musk's RTO policy.

The complaint said that Yao Yue, a principal software engineer, criticized the mandate, tweeting, "don't resign, let him fire you." She also posted, "don't be fired. Seriously" in a company Slack channel.

Yue was then fired five days later and told it was due to violating an unspecified company policy.

Uber

In a memo obtained by Business Insider, CEO Dara Khosrowshahi told employees that beginning in April 2022, Uber staffers in 35 of the company's locations were required to return to the office at least half the time. He added that on other days, staffers were allowed to work remotely and that some could be entirely remote if they got clearance from their managers.

CEO Dara Khosrowshahi recently said remote work took away some of Uber's "most frequent customers," adding that "there is an audience who kind of stopped using us as frequently as they used to."

Walmart

Along with slashing hundreds of jobs, Walmart also asked previously remote employees in the US to move to offices.

Staffers located in smaller offices in Dallas, Atlanta, and Toronto are additionally being directed to the company's central hubs, including its headquarters in Arkansas or New Jersey, The Wall Street Journal reported.

The retail giant will still permit hybrid schedules as long as workers come in-person most of the time, according to the outlet.

The Washington Post

William Lewis, CEO and publisher of The Washington Post, told staffers in early November that they would be required to return to the office five days a week, according to a memo obtained by BI.

"I want that great office energy for us every day," Lewis wrote, referring to the energy in the office during election week. "I am reliably informed that is how it used to be here before Covid, and it's important we get this back."

All employees were expected to return to the office by June 2, 2025, while managers were expected to return by February 3, 2025.

After starting remote work in 2020, the Post previously required employees to return to the office three days a week in early 2022.

The announcement at the Post came shortly after Amazon's return-to-office mandate. The Post is owned by Jeff Bezos, Amazon founder and executive chairman.

Zoom

Zoom, the darling of remote work, said in 2022 that less than 2% of staffers work in person full time. However, last year, the video-calling company asked employees to return to the office.

Workers living within 50 miles of one of its offices were mandated to work there at least two days a week.

"We believe that a structured hybrid approach – meaning employees that live near an office need to be onsite two days a week to interact with their teams – is most effective for Zoom," a spokesperson previously said in a statement. "As a company, we are in a better position to use our own technologies, continue to innovate, and support our global customers."

• Computer science graduates are struggling to secure jobs and internships amid increased competition from tech layoffs.
• Recent graduates told BI they have sent hundreds of job applications with little response.
• Some are choosing to pursue a "panic master's" degree to delay their job search.

A computer science degree has become an increasingly popular choice for students seeking a six-figure job in Big Tech out of college.

However, as the tech industry took a sharp turn from the hiring sprees during the pandemic to mass layoffs, conversations with over a dozen CS majors revealed many are struggling to find full-time roles and internships despite sending out hundreds of applications — sometimes as many as 700.

Now, some are opting for a "panic master's" instead, delaying their search by getting a graduate degree in the hopes the job market will improve in a year or two.

Samhita Parvatini, who graduated from Penn State University in May, told Business Insider that she entered college during the hiring frenzies of 2021 when computer science degrees were "highly sought out."

"Every industry needed engineers," she said. "Everybody said, 'Oh, it's one of the most valuable degrees you can get. You can earn so much money, you get a lot of success and career growth.'"

After roughly 250 to 300 applications since her graduation and little success, Parvatini said that the Big Tech landscape felt like it was "becoming the opposite" of what it was five years ago.

Software developer employment largely declined between late 2019 and early 2024, according to data from ADP Research Institute, with some spikes in the second half of 2021 and winter 2022 amid the pandemic hiring spree. Data from Indeed indicates job postings in the software development sector have largely dropped back to pre-pandemic levels.

Meanwhile, videos showing swarms of candidates at job fairs have become an increasingly common sight on social media.

Yahya Bashir, a recent CS graduate from Gustavus Adolphus College, said that his job-hunting experience in the last year has become more arduous.

During his last application cycle in the summer of 2023, Bashir said he often heard back quickly from companies and was invited to several interviews. However, the majority of the roles he applied to this year, which he estimates to be around a hundred, didn't reply.

"Most of them, you don't even hear back from them," Bashir said. "You submit your application, and there's just nothing."

Competing against laid-off coders with more experience

Facing low response rates and, in some cases, "ghost job" postings, software engineers fresh out of school are also having to compete with their more experienced peers.

With companies continuing to trim their staff, the tech sector has also faced two years of brutal layoffs. In 2022, over 165,000 employees were cut from a thousand tech companies, according to Layoffs.fyi, a website tracking tech layoffs. In 2023, the number of layoffs increased to over 264,000. So far in 2024, nearly 150,000 employees have been cut from over 520 tech companies.

With hundreds of thousands of already established tech workers cut loose into the job market, new graduates are facing increased competition for fewer openings.

Emos Ker, a recent graduate from New York University, said that although sub-industries within computer science, like AI and LLMs, are booming as Big Tech invests heavily, these fields often require a higher level of training.

Although more universities like Carnegie Mellon and Columbia are starting to offer AI degrees and programs, Ker said that many institutions are not yet able to provide the specific education needed for more specialized fields like AI.

Looking through a stack of résumés, companies may choose to hire a seasoned Big Tech veteran over a CS graduate who would likely require more guidance.

"With all the tech firings, they're looking for people who are like midlevel, senior engineers," Ker said. "And unfortunately, for people like us who want to come out and work in AI, it's not really easy to get into because you kind of need to train us from the ground up."

Punting the hunt with a 'panic' master's

Instead of risking being hung out to dry in the job market, several recent computer science graduates told BI that they or their peers have opted to return to the classroom to delay the search.

"The funny thing is, when I started my undergrad, I was very stubborn and was like, 'Oh, I don't need a master's,'" Parvatini said. "'It's a CS degree, you know, it's so valuable."

A month out from graduation and without a job lined up, Parvatini said she applied for her master's as a "last-minute decision."

"I knew that I wasn't going to go anywhere after graduation," she said. "So I thought, might as well apply, and we'll take a couple of classes, you know, do something better with my time during this period."

Professor David Garlan, the associate dean for Carnegie Mellon's computer science master's program, said that while the university hasn't seen a notable increase in CS grad enrollment, other schools with less selective and extensive programs may experience otherwise.

"It's definitely true that when the economy has a downturn, people go back to education because they're not able to find jobs so quickly," he said. "So there is definitely that trend, overall."

Enrollment in MIT's EECS Master of Engineering program increased from 241 students for the 2023-2024 academic year to 303 this academic year — a spike compared to previous years when enrollment stayed relatively consistent in the mid-200s.

A report by the Council of Graduate Schools said that computer science was the "only field to increase in first-time enrollment (5.4%) between Fall 2021 and Fall 2022."

Ian Hurrel, who is finishing his last semester at Georgia Institute of Technology, said enrolling in the university's one-year master's program was largely due to the worsening job market.

"A lot of people, including me, wanted to stay in college one more year to get an internship," Hurrel said. "It was very much a 'panic masters' sort of thing."

Although computer and information sciences often have lower numbers of graduate enrollment compared to other fields, a report by Burning Glass Institute indicated that 7% of those who earned graduate degrees in CS remained unemployed.

The extra schooling, while costly, can not only buy students time, it can potentially lead to a more employable résumé and higher salary. According to data from PayScale published last year, employees with a master of science degree make an average base salary of $112,000, compared to $72,000 for those with a bachelor's degree in computer science.

'Perseverance and a little bit of luck'

Despite lower morale among some CS majors, others believe that the tech sector is not as dire as social media portrays it.

Sydney Bishop, a senior at UC Irvine, said despite being unable to land an internship this past summer after over 180 applications, she remains optimistic about the job market.

"I haven't lost faith that I'll get a job somewhere," Bishop said. "It just might not be a cushy tech job that all of us have been raised to think about."

While tech giants like Google and Microsoft may not be handing out as many opportunities as they did during their hiring peaks, Bishop said that the technical skills of programming are still — and will continue to be — needed within companies.

Hurrel, who was able to land an internship with Amazon this past summer, said that he disagrees with the "fear-mongering" from people online saying computer science is a dying degree.

"I don't think it's oversaturated to the point where it will become extremely devalued and not be a worthwhile career anymore," he said. "I think it's just going to be harder than it was at the peak to break into it."

Hurrel added that there are "clearly still jobs" and that several of his peers have also been able to land internships and full-time roles. The US Bureau of Labor Statistics projects that employment of software developers will increase by 18% by 2033.

Samuel Onabolu is one of these newly minted engineers. After what he estimated to be over a thousand applications, he was finally able to land a full time software engineering role four months after graduating from Brock University in May.

"I'm kind of surprised I even got a job so early because there are 2023 grads, 2022 grads that are still looking," he said. "So I would say it's just a lot about perseverance and a little bit of luck."

Onabolu said that while he had been "feeling really depressed" during his unsuccessful job search, he advised other new and incoming grads to prioritize internships and networking events to hopefully get their foot in the door.

"I feel like every CS major is going through the exact process I went through," he said. "I feel like it just takes that one acceptance, that one offer, to kind of break into that career."

• More universities are offering degrees in artificial intelligence, so BI rounded them up.
• The AI major offerings have launched as Big Tech invests heavily in LLMs and AI products.
• Other institutes are offering graduate degrees in AI or degrees with AI specializations.

Universities are evolving their offerings in the age of artificial intelligence. Now, students have the option to pursue a full degree dedicated to AI.

As more colleges introduce an AI major, it means the computer science degree, long viewed as a pipeline into Big Tech, has some more competition.

The new AI majors arrive as the industry goes through change, with many tech companies investing heavily in LLMs and generative AI products while simultaneously tightening their belts and trimming staff.

The battle for top AI talent — researchers and engineers at the top of their game — is fierce, with CEOs personally trying to woo hires.

A degree in AI may prove tempting for current and future students hoping to get training and experience with LLMs and generative AI early in their careers. While computer science degrees can cover a wide array of fields, including computer programming, data science, computer systems analysis, and more, AI jobs can require more specific skills in machine learning and algorithms.

Universities are quickly looking to step in and fill that gap.

Professor David Garlan, the associate dean for Carnegie Mellon's computer science master's program, told BI that as the AI revolution continues to sweep industries, education is also adapting to keep up.

"You'll see AI sort of permeating pretty much any curriculum these days," he said. "That's here to stay."

Undergraduate degrees

Carnegie Mellon is one institute that has already created a bachelor of science in artificial intelligence, a trend that is already picking up steam across other universities.

In February, the University of Pennsylvania became the first Ivy League school to announce an undergraduate degree in AI. Beginning this academic year, students earning a BSE in Artificial Intelligence can explore courses in machine learning, computing algorithms, data analytics, and advanced robotics.

"We are training students for jobs that don't yet exist in fields that may be completely new or revolutionized by the time they graduate," said Robert Ghrist, Associate Dean of Undergraduate Education in Penn Engineering, in a statement at the time.

Universities that have begun to offer Bachelor of Sciences in Artificial Intelligence include:

• Carnegie Mellon University
• University of Pennsylvania
• California Institute of Technology
• Dakota State University
• Illinois Institute of Technology
• Keiser University
• Long Island University
• New England Institute of Technology
• Oakland University
• UC Santa Barbara
• University of Texas San Antonio

Some institutes that don't have dedicated AI degrees still offer concentrations in AI and/or machine learning.

"Something like mechanical engineering or civil engineering will typically have a version of the program with an emphasis on AI and a more traditional degree that students might take," Garlan said.

For example, Boston University students earning a BS in biomedical, computer, electrical, or mechanical engineering can pursue a concentration in machine learning. Stanford University's symbolic systems degree and Carnegie Mellon's computer science degree also offer AI concentrations. Meanwhile, Duke University's CS degree offers a concentration that covers both AI and machine learning.

Graduate Degrees

Graduate degrees in AI offer a great specialization to those who completed a CS major in undergrad or simply those looking to get into the field after earning their bachelor's degree.

Some institutes that don't have undergraduate degrees still offer graduate degree programs in AI, both online and in-person.

Schools that offer an MS, MSE, or ME in specifically artificial intelligence include:

• Carnegie Mellon
• Duke
• John Hopkins
• John Hopkins University
• UCLA
• University of Texas at Austin

Some schools that offer master's in computer science with AI or machine learning specializations include:

• Columbia University
• Cornell University
• Georgia Institute of Technology
• Rice University
• Stanford University
• USC

For students nearing college or selecting a major, there's no one perfect track, and there are plenty of factors to consider.

With the addition of these undergraduate and graduate degrees, students who know they want a career in AI now have more pathways to choose from — with more likely on the way as universities seek to stay competitive.

• A group of early 2000s PayPal employees and founders came to be known as the "PayPal Mafia."
• The members have all gone on to impact Silicon Valley by founding and developing major companies.
• The group includes Elon Musk, Peter Thiel, Reid Hoffman, and the founders of both YouTube and Yelp.

What do the founders of YouTube, Yelp, Tesla, and LinkedIn have in common?

Apart from creating some of the biggest companies in tech, they all share a common résumé line item: they've all worked at PayPal.

Many of PayPal's early employees went on to become major names in tech and the venture capital world, founding, funding, and otherwise developing successful companies. This elite group came to be known as the "PayPal Mafia," a nickname that gained popularity after Fortune used the term in a 2007 piece alongside a photo of some of the members dressed in gangster attire.

Members of the group include Elon Musk, Peter Thiel, Reid Hoffman, and over a dozen others. Here's a rundown of the most prominent members of this exclusive group and what they're up to over two decades later.

Peter Thiel: PayPal's founder and the so-called "don" of the PayPal Mafia

Peter Thiel cofounded the company that would become Paypal — called Confinity — in 1999 alongside Max Levchin and Luke Nosek. Confinity was launched as a developer of security software for hand-held devices like the PalmPilot, but it later pivoted toward digital money transfers. 

Thiel served as CEO of PayPal until October 2002, when eBay acquired the company for $1.5 billion. Thiel's 3.7% stake was worth a $55 million, according to SEC filings.

Thiel went on to cofound Founders Fund, a venture capital firm that has helped launch companies like SpaceX and Airbnb.

Thiel, now a billionaire with a net worth of $15.9 billion, according to Bloomberg, cofounded the big data analysis firm Palantir in 2003. He was the first major outside investor in Facebook and contributed early funding to Yelp and LinkedIn, along with a number of other ventures launched by his PayPal peers. Thiel's also a partner of Founders Fund, a venture capital fund based in San Francisco.

Thiel has also drawn criticism in recent years for his support of President Donald Trump and for secretly funding Hulk Hogan's lawsuit against Gawker Media, which resulted in the company shutting down Gawker and selling the company's assets.

After facilitating talks between Trump and now Sen. JD Vance, Thiel gave a record-breaking $15 million to Vance's campaign, the largest donation ever given to a single senate candidate. 

Thiel later told The Atlantic he was taking a break from politics. Business Insider later reported that he served as an FBI informant.

While his and Trump's relationship has reportedly soured, Trump's recent announcement of Vance as his vice president pick has put Thiel back to playing kingmaker.

Max Levchin: PayPal cofounder and Chief Technology Officer.

Max Levchin is sometimes called the "consigliere" of the PayPal Mafia — in "The Godfather," a consigliere is an advisor to the boss.

Levchin made significant contributions to PayPal's anti-fraud efforts. Together with PayPal technical architect David Gausebeck, he helped create the Gausebeck-Levchin test, an early version of a CAPTCHA for commercial applications.

Levchin now serves as the CEO of Affirm.

After PayPal was bought by eBay, Levchin founded a media-sharing service called Slide that was later bought by Google. He was also an early investor in Yelp — at one point he was the company's largest shareholder — and he served as chairman of Yelp from its founding in 2004 until July 2015.

He founded fintech company Affirm, which allows consumers to finance online purchases at the point of sale and pay for them over time. Affirm went public in 2021, raising $1.2 billion in its IPO. Levchin is also the chairman of Glow, a fertility-tracking app that helps users improve their odds of conceiving.

Ken Howery: PayPal cofounder and CFO from 1998 to 2002.

After eBay bought PayPal, Howery stayed on as eBay's director of corporate development until 2003. After PayPal's acquisition, he served as cofounder and partner of Founders Fund alongside Peter Thiel.

Howery recently served as US ambassador to Sweden.

He was appointed by former President Trump in January 2019 and confirmed in September of that year. He also donated $1 million earlier this year to America PAC, a pro-Trump super PAC created by fellow PayPal mafia member Elon Musk.

Howery is active in several nonprofits and serves as a founding advisor to Kiva, an organization that facilitates loans to low-income entrepreneurs. Kiva was founded in part by Premal Shah, PayPal's former product manager.

Howery is reportedly still good friends with Elon Musk. 

Elon Musk: founder of (the other) X.com, which merged with Thiel's Confinity to become PayPal

In 1999, Elon Musk founded a payments company called X.com, which merged with Thiel's Confinity in 2000. He briefly served as CEO of PayPal before he was ousted by the board in September 2000 and replaced with Thiel. But as the company's largest shareholder, he still walked away from the PayPal sale to eBay with a cool $165 million.

Musk is currently the world's richest person.

Perhaps the best-known of all the members of the PayPal mafia now, Musk's estimated net worth is $362 billion.

Since his PayPal days, Musk has moved on to oversee companies like Tesla, SpaceX, the Boring Company, and Neuralink. He also bought Twitter and renamed it X, after buying back the X.com domain name from PayPal. 

Musk, who has been a vocal supporter of Trump's 2024 presidential campaign and donated more than $200 million to Republican election efforts, will also co-lead the newly created Department of Government Efficiency alongside former Republican presidential candidate Vivek Ramaswamy, Trump announced after winning the election.

Luke Nosek: PayPal cofounder and vice president of marketing and strategy.

Nosek was also reportedly the person who clued in Peter Thiel to cryogenic preservation, which Thiel has since invested in heavily.

Nosek explored angel investing.

In 2005, Nosek joined Thiel and Howery as a partner at Founders Fund. In 2017, Nosek left Founders Fund to launch investment firm Gigafund, which helped raise money for SpaceX.

Nosek was also the first institutional investor in SpaceX and is a board member. He also joined the board of ResearchGate, a platform where scientists and researchers can ask questions, follow topics, and review one another's papers.

Roelof Botha: PayPal's director of corporate development, vice-president of finance, CFO

Botha went to school to be an actuary. He said he never planned to get into tech, but when he saw the opportunity in Silicon Valley, his intuition told him it was where he needed to be.

He started as PayPal's director of corporate development, went on to become vice-president of finance, and later served as CFO.

Botha is now a partner at venture capital firm Sequoia Capital

Botha is now considered one of the top tech investors in the world.

Sequoia Capital has funded tech giants like Apple, Google, YouTube, and Instagram. 

Botha as served on the board at more than a dozen companies, including Square, EventBrite, Weebly, Tumblr, Instagram, YouTube, as well as 23andMe, which he resigned alongside the rest of the board in September over CEO Anne Wojcicki's proposal to take the company private.

Reid Hoffman: board of directors at PayPal, COO

LinkedIn cofounder Reid Hoffman served on the board of directors when PayPal was founded.

He eventually joined the company full-time as PayPal's COO. In a New York Times interview, Peter Thiel referred to Hoffman as PayPal's "firefighter in chief," noting that there were many fires that needed putting out in the company's early days.

When PayPal was acquired by eBay, Hoffman was the company's executive vice president.

Hoffman cofounded LinkedIn and is one of Silicon Valley's most prolific angel investors.

Hoffman was an early investor in Facebook, Flickr, Care.com, and many more. In 2017 he joined the board of Microsoft.

Hoffman has coauthored several books on startups and professional development. He hosts the "Masters of Scale" podcast, on which he interviews founders about how they launched and scaled their companies, and is a partner at VC firm Greylock Partners. He was an early investor in OpenAI and used to serve on its board, and cofounded Inflection AI.

Hoffman has also recently criticized business leaders, including his fellow PayPal mafia members, for supporting Trump.

 

David Sacks: PayPal COO

Like Hoffman, Sacks also served as COO at PayPal. Previously a management consultant for McKinsey & Company, David Sacks joined PayPal in 1999.

After PayPal was bought by eBay, Sacks produced and financed the box office hit "Thank You For Smoking," which would go on to be nominated for two Golden Globes. In 2006 he founded Geni.com, an online tool for building family trees.

 

Sacks founded several companies, became an angel investor, and was named Trump's AI and crypto 'czar'

In 2016, Sacks was briefly interim CEO at Zenefits, an HR software firm that was plagued by scandal, including allowing unlicensed brokers to sell insurance to its customers. In 2017, Sacks cofounded the early-stage investment firm Craft Ventures. 

Sacks is a serial entrepreneur and investor, with angel investments in Airbnb, Postmates, Slack, and many more. 

He's also a member of Elon Musk's inner circle and, like the Tesla CEO, is an avid Trump supporter, hosting a fundraiser for the president-elect at his home. Sacks reportedly urged Trump personally to choose Vance as his running mate, whom he was introduced to by fellow Paypal mafia member Thiel.

Trump said in December that he is appointing Sacks as his White House AI and crypto czar.

 

 

 

Jawed Karim, Chad Hurley, and Steve Chen met at PayPal during its early days.

Karim and Chen were engineers, while Hurley was a web designer.

In 2005, the trio launched the video-sharing platform YouTube. Karim uploaded the platform's very first video, "Me at the zoo," an 18-second clip of Karim in front of the San Diego Zoo's elephant exhibit. It's been viewed over 292 million times.

Today, Karim, Hurley, and Chen remain active entrepreneurs and investors with a hand in projects from finance to music.

Karim launched venture fund YVentures in 2008, through which he invested in Palantir, Reddit, Eventbrite, and Airbnb.

Hurley stepped down as CEO of YouTube in 2010. Since then, he's backed education startup Uptime and invested in several sports teams.

Chen invested in actor Joseph Gordon-Levitt's musical collaboration platform HitRecord, which in February secured $6.4 million in Series A funding.

Andrew McCormack: assistant to Peter Thiel at PayPal

McCormack joined PayPal in 2001, working as an assistant to Peter Thiel as the company prepared for its IPO.

In 2003, McCormack started a restaurant group in San Francisco. In 2008, he joined Thiel Capital and worked there for 5 years.

McCormack went on to launch VC firm Valar Ventures

McCormack partnered up with Thiel again in 2010 to found Valar Ventures, a venture capital fund.

Valar Ventures has invested in technology startups well beyond Silicon Valley, including some in Europe and Canada. In August, Crunchbase reported the firm had closed on a $150 million funding round for a new venture capital fund, Valar Fund V.

McCormack continues to serve as a managing partner of the firm.

 

Keith Rabois: PayPal's executive vice president

Entrepreneur Keith Rabois served as PayPal's executive vice president from 2000 to 2002.

He would go on to join his PayPal colleague Reid Hoffman at LinkedIn as its vice president for business and corporate development from 2005 to 2007. He was an early investor in startups like Square, where he spent two-and-a-half years as COO. 

Rabois joined Thiel, Howery, and Nosek as a partner at Founders Fund.

Rabois is the CEO of OpenStore and has served on the board of directors for Yelp, Xoom, and Reddit.

He was a general partner at Founder's Fund, where he cofounded OpenStore, before returning to Khosla Ventures in early 2024.

Russel Simmons and Jeremy Stoppelman: worked on technology at PayPal.

Simmons was an engineer and Stoppelman was the vice president of technology after joining PayPal from X.com.

In 2004, the pair came up with the idea for a platform where users could leave recommendations about businesses in their area. They pitched the idea to Levchin, who provided an early investment of $1 million, and Yelp was born.

Simmons left his official role at Yelp in 2010, while Stoppelman continues to serve as Yelp's CEO.

Simmons served as CTO at Yelp from 2004 until he left the role in 2010. Stoppelman is still CEO of Yelp, and has publicly spoken out in support of political issues like women's reproductive rights.

Jack Selby: PayPal's vice president of corporate and international development.

After leaving PayPal, Selby partnered with Thiel to start Clarium Capital Management.

In 2017, Selby was revealed to be the generous tipper behind "Tips for Jesus."

Selby later helped manage Thiel Capital, the Thiel's family office, and started his own venture capital fund, AZ-VC, where he serves as managing partner. He still serves as managing director at Thiel Capital.

Starting in 2013, Selby began anonymously leaving tips for unsuspecting waitstaff, ranging into the thousands, and signing them "Tips for Jesus." His identity was confirmed by a New York City bartender who served him prior to receiving a $5,000 tip.

Dave McClure: PayPal's director of marketing

McClure served PayPal's director of marketing as for four years beginning in 2001.

According to McClure's LinkedIn, he began a program called the PayPal Developer Network, which consisted of about 300,000 developers that were using PayPal. 

McClure left PayPal in 2004.

He had a brief stint at Founders Fund before launching 500 Startups, an early stage venture fund. McClure stayed at 500 Startups until June 2017, when he was accused of "inappropriate behavior with women" in a New York Times report and stepped down from his role at the firm, writing an apology post titled "I'm a creep. I'm sorry."

He's since become an investor and owner in a professional sports league for ultimate frisbee and cofounded Practical Venture Capital, according to his LinkedIn.

 

Several more former PayPal employees went on to have careers both in and out of tech.

• Yishan Wong was an engineering manager who later served as CEO of Reddit from 2011 to 2014. He then founded the reforestation company Terraformation in 2020, where he now serves as CEO.
• Jason Portnoy worked in finance at PayPal, and went on to work at Clarium Capital and Palantir. He's now a partner at VC firm Oakhouse Partners. 
• Premal Shah was a product manager at PayPal beginning in 2000, then went on to work at technology nonprofit Kiva. He's now president at financial-services startup Branch. 
• David Gausebeck was a technical architect at PayPal. Now, he serves as chief scientist at 3D modeling company Matterport. He cofounded 3D modeling company Matterport, where he now serves as chief scientist.
• Joe Lonsdale started his career as a finance intern at PayPal before moving into venture capital — he's worked at VC firms Clarium Capital, Formation 8, and 8VC. Lonsdale also cofounded Palantir, and has reportedly contributed to a Trump PAC.
• Eric Jackson was director of marketing at PayPal and went on to write a book about the company called "The PayPal Wars." He's currently the CEO of CapLinked. 

• Elon Musk and Donald Trump have had a tumultuous relationship over the years.
• While the two traded barbs during Trump's first presidency, they're now political allies.

• Trump officially added Musk to join his administration to help lead his DOGE effort, and Musk calls himself "first buddy."

Elon Musk and Donald Trump are now spending lots of time together, marking a new era of their working relationship.

The world's richest person and president-elect have become close political allies, with Musk calling himself "first buddy" following Trump's most recent victory and donating more than $200 million toward pro-Trump super PACs.

Trump tasked Elon Musk with recommending cost cuts in the federal government, appointing the Tesla CEO to the new Department of Government Efficiency council.

It wasn't always this cozy between the two billionaires, however.

Here's how they reached this point.

November 2016: Musk says Trump is 'not the right guy' for the job

Just before the 2016 presidential election, Musk told CNBC he didn't think Trump should be president. 

"I feel a bit stronger that he is not the right guy. He doesn't seem to have the sort of character that reflects well on the United States," Musk said. 

The billionaire added that Hillary Clinton's economic and environmental policies were the "right ones."

December 2016: Musk appointed to Trump's advisory councils

After he won the presidency, Trump appointed Musk to two economic advisory councils, along with other business leaders like Uber CEO Travis Kalanick. 

Musk got flack for working with the controversial president, but defended his choice by saying he was using the position to lobby for better environmental and immigration policies. 

June 2017: Musk cut ties with the White House in protest of Trump's environmental policies

On June 1, 2017, after Trump announced the US would pull out of the Paris Agreement on climate change, Musk resigned from his roles on presidential advisory boards. 

"Climate change is real. Leaving Paris is not good for America or the world," Musk said in a tweet announcing his departure.

Musk's goal for Tesla is to curb dependence on fossil fuels through electric vehicles, solar power, and stationary energy storage. 

January 2020: 'One of our great geniuses'

During a January 2020 interview with CNBC, Trump praised Musk's accomplishments and intelligence. 

"You have to give him credit," the former president said, referring to Tesla becoming more valuable than Ford and General Motors. "He's also doing the rockets. He likes rockets. And he's doing good at rockets too, by the way." 

Trump went on to call Musk "one of our great geniuses" and likened him to Thomas Edison. 

May 2020: Trump backs up Musk in feud with California covid rules

As the pandemic gripped the US in early 2020, Musk clashed with California public-health officials who forced Tesla to temporarily shut down its factory there. Trump voiced his support for Musk. 

"California should let Tesla & @elonmusk open the plant, NOW," Trump tweeted in May 2020. "It can be done Fast & Safely!"

"Thank you!," Musk replied. 

May 2022: Musk said he would reinstate Trump's Twitter account

In May, Musk said he would unban Trump as the Twitter's new owner. 

Musk called the ban a "morally bad decision" and "foolish to the extreme" in an interview with the Financial Times. Twitter kicked Trump off of its platform following the January 6, 2021 attack on the US Capitol. 

The Tesla billionaire has called himself a "free speech absolutist," and one of his key goals for taking Twitter private was to loosen content moderation. 

July 2022: Trump calls Musk a 'bullshit artist'

In July, Trump took aim at Musk, claiming the businessman voted for him but later denied it. 

"You know [Musk] said the other day 'Oh, I've never voted for a Republican,'" Trump said during a Saturday rally in Anchorage, Alaska. "I said 'I didn't know that.' He told me he voted for me. So he's another bullshit artist."

On Monday, Musk tweeted that Trump's claim was "not true."

July 2022: Musk says Trump shouldn't run again

Musk stopped short of attacking Trump personally, but said he shouldn't run for president again. 

"I don't hate the man, but it's time for Trump to hang up his hat & sail into the sunset. Dems should also call off the attack – don't make it so that Trump's only way to survive is to regain the Presidency," he tweeted. 

He continued: "Do we really want a bull in a china shop situation every single day!? Also, I think the legal maximum age for start of Presidential term should be 69." Trump is 76 years old. 

July 2022: Trump lashes out

Trump then went on the offensive, posting a lengthy attack on Musk on Truth Social, the social media company he founded. 

"When Elon Musk came to the White House asking me for help on all of his many subsidized projects, whether it's electric cars that don't drive long enough, driverless cars that crash, or rocketships to nowhere, without which subsidies he'd be worthless, and telling me how he was a big Trump fan and Republican, I could have said, 'drop to your knees and beg,' and he would have done it," Trump said in a post that criticized two of Musk's ventures, Tesla and the rocket company SpaceX. 

"Lmaooo," Musk responded on Twitter.

October 2022: Trump cheers Musk's Twitter deal, but says he won't return

Following Musk's official buyout of Twitter on Thursday, Trump posted to Truth Social cheering the deal. 

"I am very happy that Twitter is now in sane hands, and will no longer be run by Radical Left Lunatics and Maniacs that truly hate our country," he said. He added that he likes Truth Social better than other platforms, echoing comments from earlier this year in which he ruled out a return to Twitter. 

On Monday, Musk joked about the potential of welcoming the former president back to his newly acquired platform.

"If I had a dollar for every time someone asked me if Trump is coming back on this platform, Twitter would be minting money!," the Tesla CEO tweeted. 

May 2023: Musks hosts Florida Gov. Ron DeSantis' glitchy debut

Musk and other right-leaning voices in Silicon Valley initially supported Florida Gov. Ron DeSantis. DeSantis ended 2022 as Trump's best-positioned primary challenger. In November 2022, as DeSantis was skyrocketing to acclaim, Musk said he would endorse him. In March 2023, after enduring Trump's attacks for months, DeSantis prepared to make history by formally announcing his campaign in an interview on Twitter.

The initial few minutes were a glitchy disaster. Trump and his allies ruthlessly mocked DeSantis' "Space" with Musk and venture capitalist David Sachs. DeSantis' interview later proceeded, but his campaign was dogged for days with negative headlines.

September 2023: A Trump-style border wall is needed, Musk says

Musk live-streamed a visit to the US-Mexico border on Twitter, which he had rebranded as "X." Musk said that one of Trump's signature policies was necessary during his visit to Eagle Pass, Texas, to get a first-person look at what local officials called a crisis at the border.

"We actually do need a wall and we need to require people to have some shred of evidence to claim asylum to enter, as everyone is doing that," Musk wrote on X. "It's a hack that you can literally Google to know exactly what to say! Will find out more when I visit Eagle Pass maybe as soon as tomorrow."

Like Trump and others on the right, Musk had criticized the broader consensus in Washington for focusing too much on Russia's unprovoked war against Ukraine in comparison to domestic issues like migration. 

March 2024: Trump tries to woo Musk, but the billionaire says he won't give him money.

Trump tried to woo Musk during a meeting at the former president's Mar-a-Lago resort. According to The New York Times, Trump met with Musk and a few other GOP megadonors when the former president's campaign was particularly cash-strapped. After The Times published its report, Musk said he would not be "donating money to either candidate for US President." 

It wasn't clear who Musk meant in terms of the second candidate. He had repeatedly criticized President Joe Biden, who looked poised to be headed toward a rematch with Trump.

July 2024: Musk endorses Trump after the former president is shot

Musk said he "fully endorsed" Trump after the former president was shot during a political rally ahead of the Republican National Convention. The billionaire's endorsement marked a major turning point in his yearslong political evolution from an Obama voter. Days later, it would come to light that Musk pressed Trump to select Ohio Sen. JD Vance as his running mate.

Trump announced Vance as his vice presidential pick at the Republican National Convention.

The ticket, Musk wrote on X, "resounds with victory."

It wasn't just his public support that Musk was offering. In July, the Wall Street Journal reported Musk had pledged roughly $45 million to support a pro-Trump super PAC. Musk later said he would donate far less, but his rebranding into a loyal member of the MAGA right was complete.

August 2024: Trump joins Musk for a highly anticipated interview

Trump, who ended the Republican National Convention primed for victory, stumbled after Biden abruptly dropped out of the 2024 race. The former president and his allies have struggled to attack Vice President Kamala Harris, now the Democratic presidential nominee.

Amid Harris' early media blitz, Trump joined Musk on a two-hour livestream on X that garnered an audience of over 1 million listeners. The conversation covered topics ranging from a retelling of Trump's assassination attempt to illegal immigration to Musk's potential role with a government efficiency commission.

In August, Trump began floating the idea that he "certainly would" consider adding Musk to his Cabinet or an advisory role. The Tesla CEO responded by tweeting an AI-generated photo of himself on a podium emblazoned with the acronym "D.O.G.E"—Department of Government Efficiency.

"I am willing to serve," he wrote above the image.

September 2024: Musk says he's ready to serve if Trump gives him an advisory role

In September, Trump softened the suggestion of Musk joining his Cabinet due to his time constraints with running his various business ventures, the Washington Post reported. However, he also said that Musk could "consult with the country" and help give "some very good ideas."

Musk then replied to a tweet about the Washington Post article expressing his enthusiasm.

"I can't wait. There is a lot of waste and needless regulation in government that needs to go," he wrote.

He later said on X that he "looked forward to serving" the country and would be willing to do with without any pay, title, or recognition.

October 2024: Musk speaks at Trump rally in Butler, Pennsylvania

Musk joined Trump onstage during the former president's rally, hosted on October 5 in the same location where Trump survived an assassination attempt in July. Musk sported an all-black "Make America Great Again" cap and briefly addressed the crowd, saying that voter turnout for Trump this year was essential or "this will be the last election." 

"President Trump must win to preserve the Constitution," Musk said. "He must win to preserve democracy in America."

The next day, Musk's America PAC announced that it would be offering $47 to each person who refers registered voters residing in swing states to sign a petition "in support for the First and Second Amendments."

By October, the PAC had reportedly already spent over $80 million on the election, with over $8.2 million spread across 18 competitive House races for the GOP. 

The Tesla CEO later told former Fox News host Tucker Carlson that he might face "vengeance" if Trump loses the election.

November 2024: Trump wins the presidency and names Musk his administration

Musk was by Trump's side on election night at Mar-a-Lago, helping celebrate his victory.

Nearly a week after his 2024 presidential election win, Trump announced that Musk and businessman Vivek Ramaswamy were chosen to lead a newly minted Department of Government Efficiency (or DOGE, as Musk likes to call it, in reference to the meme-inspired cryptocurrency Dogecoin).

"Together, these two wonderful Americans will pay the way for my Administration to dismantle the Government Bureaucracy, slash excess regulations, cut wasteful expenditures, and restructure Federal Agencies," Trump said in a statement. 

It's unclear whether the department will formally exist within the government, though Trump said the office would "provide advice and guidance from outside of Government" and work directly with the White House and Office of Management & Budget.

Musk responded in a post on X that the Department of Government Efficiency will be post all their actions online "for maximum transparency." 

"Anytime the public thinks we are cutting something important or not cutting something wasteful, just let us know!" Musk wrote. "We will also have a leaderboard for most insanely dumb spending of your dollars. This will be both extremely tragic and extremely entertaining."

Outside of administrative duties, Musk has also joined "almost every meeting and many meals that Mr. Trump has had," The New York Times reported, acting as a partial advisor and confidant. The Tesla CEO also reportedly joined Trump's calls with both Ukrainian President Volodymyr Zelenskyy and Turkish President Recep Tayyip Erdogan while both men were at the president-elect's Mar-a-Lago club, where Musk seems to have settled in.

"Elon won't go home," Trump told NBC News jokingly. "I can't get rid of him." 

The two's close relationship has extended to a more personal friendship. Musk was seen attending Trump's Thanksgiving dinner and on the golf course with Trump and his grandchildren, where Kai Trump said he achieved "uncle status."

Trump reaffirms he will be the next President — not Musk

While Musk and Trump are both big personalities, the President-elect has made it clear that he'll be the one running the country. President-elect Donald Trump dismissed the notion that he has "ceded the presidency" to Musk and said that even if the billionaire wanted to be president, he couldn't because he was born in South Africa.

"No, he's not going to be president, that I can tell you," Trump said at Turning Point USA's annual "AmericaFest" on Sunday. "And I'm safe. You know why? He can't be? He wasn't born in this country."

Trump's comments came after Musk flexed his influence to help shut down a bipartisan emergency spending bill last week. Some Republicans questioned why Trump hadn't been more active in derailing the bill, and Democrats baited the President-elect on social media with posts about Musk "calling the shots" and taking on the role of a "shadow president.

Prior to Trump addressing the subject, Trump's team also looked to shut down the idea that Musk is leading the Republican Party.

"As soon as President Trump released his official stance on the CR, Republicans on Capitol Hill echoed his point of view," Karoline Leavitt, a spokesperson for the Trump-Vance transition, told BI. "President Trump is the leader of the Republican Party. Full stop."

• Hugging Face's CEO predicts the first major AI protest and market disruptions in 2025.
• Clement Delangue also said AI advancements could halve a major company's market cap.
• His other predictions include China leading the AI race, driven by open-source model developments.

While people are preparing their New Year's resolutions, one AI company CEO has a different habit: locking in his predictions for what will happen in the industry in 2025.

Clement Delangue, CEO of the $4.5 billion startup Hugging Face, laid out six predictions for AI in the new year. He also scored himself on his last batch of predictions, which you can check out on LinkedIn.

This time around, Delangue expects major public backlash over artificial intelligence, sizable orders of personal AI robots, and China overtaking the US in the AI race.

You can take a look at his six predictions below.

The first major public protest against AI

While companies may be scrambling to incorporate AI innovations, not everyone is as eager for the AI era — and Delangue predicts they will be a lot more vocal next year.

"There will be the first major public protest related to AI," Delangue said in his post.

From professors struggling to combat rising plagiarism to AI-generated art controversies, artificial intelligence has led to frustrations and the uncertainty of change, which often leads to backlash.

AI will cut a big company's value in half

Describing what would basically be a CEO's nightmare scenario, Delangue also said that a large company could "see its market cap divided by two or more because of AI."

AI advancements could cause a major company's core technology or corporate value to become defunct, like how streaming impacted the DVD market.

In a reply to Delangue's post, one LinkedIn user pointed out Teleperformance as a possible example. The call center company sank to a seven-year low in February, with shares dropping as much as 29%, due to concerns over AI disruption. A day earlier, Klarna had announced that its AI assistant could account for two-thirds of its customer service chats.

Personal AI robots

With companies including Tesla and Jeff Bezos-backed Physical Intelligence already developing AI robots, Delangue predicts that these robot assistants will soon be available in the mass market.

"At least 100,000 personal AI robots will be pre-ordered," he said.

Elon Musk, who has admitted he tends to be optimistic about timelines, has said Optimus robot has a "good chance" of some units being shipped out in 2025, he said in a Tesla earnings call. At an estimated cost of $20,000 to $30,000, the robots would likely remain a luxury item until the cost could be brought down.

In November, Agility Robotics was able to "employ" its robot Digit at GXO Logistics' Spanx womenswear factories. CEO Peggy Johnson previously told Business Insider that having robots perform tasks at home, like folding laundry, may take longer to develop.

"A household is a very chaotic environment: At any given moment, a child's ball runs across the room, and dogs run by," she said. "There's things that are in the way."

China will lead the AI race

With the US and China battling it out for AI dominance, Delangue predicts that "China will start to lead the AI race."

The Hugging Face CEO said that China's ascendance will be a "consequence of leading the open-source AI race."

Although Chinese competitors like ByteDance and Baidu have developed closed-source models, a few startups like 01.AI and Alibaba's Qwen2 have decided to make their models open-source.

In Hugging Face's June LLM Leaderboard, which compares the performance of major open-sourced LLMs, Alibaba's Qwen2 topped the ranking ahead of Meta's Llama 3 and Microsoft's Phi-3.

Breakthroughs in biology and chemistry

While AI is quickly percolating many industries, Delangue predicted biology and chemistry are two fields that will see "big breakthroughs."

In October, Google's DeepMind CEO Demis Hassabis and director John Jumper received a Nobel Prize in chemistry for their use of AI to predict protein structures with the DeepMind tool AlphaFold.

Earlier this year, Hassabis predicted AI-designed prescription drugs could enter clinical trials in the coming years.

"I would say we're a couple of years away from having the first truly AI-designed drugs for a major disease, cardiovascular, cancer," he said.

Economic and employment growth from AI

Delangue's final prediction is that the "economic and employment growth potential of AI" will begin to show itself in 2025.

For Hugging Face, in particular, he predicted that 15 million AI builders would be seen on the platform.

Despite the company failing to reach last year's prediction of 10 million, instead landing at 7 million, Delangue remains optimistic that AI builders will continue to grow.

• The STAR and PARADE methods of answering behavioral interview questions are both popular.
• They can help when you're asked about a time you faced a challenge or made a mistake at work, for example.
• Career experts shared with BI their advice for how and when to use each method.

Share an example of a challenge you've faced at work. Describe a time you had to make a difficult decision in your role. Tell me about a mistake you've made on the job.

We've all probably heard some variation of these behavioral interview questions before. Though they're pretty common, it can still be difficult to know the right way to answer them.

Two well-known methods, STAR (Situation, Task, Action, and Result) and PARADE (Problem, Anticipated consequence, Role, Action, Decision-making rationale, End result), are commonly suggested as means to craft your response.

While the two are both ultimately designed to guide candidates with their answers, which structure is more effective?

We asked career experts to break down the difference between the two, and which one may work best for you.

The STAR method

The widely used STAR framework is a personal favorite recommendation of Amri Celeste, a recruitment manager and interview coach.

"The pros are that the STAR Method structure automatically arranges an answer into a story format," she said. "And we tend to remember information in story format much easier than plain data or information, so it automatically makes answers memorable."

The straightforward format is broken down into four simple steps:

1. Situation: Set the scene by providing context on the challenge you faced.
2. Task: Explain your role in that situation.
3. Action: Describe what actions or steps you took to tackle the situation.
4. Result: End with the outcome of your actions and how you grew from the experience.

Andrew Fennell, a former corporate recruiter and founder of résumé builder website StandOut CV, said that the STAR method's structured approach is especially effective at exhibiting "measurable achievements" and "clear problem-solving skills."

"It helps candidates organize their responses by focusing on a specific scenario, their responsibilities, the actions they took, and the outcomes they achieved," he said.

However, Fennell said that the framework may sometimes feel "rigid" and responses could seem "overly rehearsed." Additionally, he said that candidates using the STAR method sometimes are not able to "highlight softer skills or adaptability in more abstract scenarios."

The PARADE method

While the STAR method can offer succinct, informative answers, the PARADE method is a more detailed structure that examines the decision-making process and its broader impact in greater depth.

"This is particularly useful for leadership or strategic roles where the reasoning behind actions is just as important as the outcomes," Fennel said.

The PARADE method is broken down into a slightly longer structure:

1. Problem: Lay out the challenge or situation you faced.
2. Anticipated consequence: Explain the potential consequences or impacts that could occur if the problem remained unsolved.
3. Role: Define the role or position you played in resolving the situation.
4. Action: Describe what specific actions you took.
5. Decision-making rationale: Explain the reasoning behind your actions and why you chose those steps as opposed to other ones.
6. End result: Finish with the outcome of the situation.

Although both the STAR and PARADE methods provide examples that illustrate how candidates can achieve jobs, Tessa White, CEO of The Job Doctor and author of "The Unspoken Truths for Career Success," said that she finds the PARADE structure "more powerful."

"It gives greater context — how big was the problem? Why was it a problem? How do I know I created impact?" said White.

However, Fennel said that candidates might find it more difficult to prepare the PARADE method due to its level of detail.

"It risks leading to lengthy or overly complex answers if not handled carefully," he said.

Which is better? It depends on the question or role

Although both structures are effective in showcasing a candidate's ability through an example, Fennel said that the STAR method is particularly useful for "standard competency-based interviews" that need "concise and focused" answers.

"Its straightforward structure works well for roles that prioritize technical expertise or clear problem-solving," he said.

Celeste recommends using the STAR method for questions that require an example, such as ones that begin with "Describe a time when" or "Give an example of." In contrast, the structure is less suitable for questions like "Tell me about yourself" or "Why should we hire you?"

However, for questions focused on problem-solving and critical thinking, Celeste suggests using the PARADE method. This includes prompts like "Can you walk me through a situation where you needed to adopt a new strategy?" or "Describe a complex problem you faced at work."

She also said the PARADE method is better suited for mid to senior-level roles because of its detailed format, which results in longer and more complex answers that "may not be needed for a first-level position."

In the end, however, what's most important is telling a compelling story that demonstrates what you've accomplished and what you can do in the new job.

"I've sat through thousands of interviews, and the person who can clearly share how they solved a problem or created impact is rare," says White. "Most individuals focus on what they can do, but not how they can do it. I'm looking for proof points, and both methods do just that."

• Daniella Glaeze documents her 3D printed home on TikTok, amassing millions of views.
• Icon and Lennar are building a community of 100 3D printed houses just north of Austin.
• The homes, made with "lavacrete" and featuring biophilic designs, offer energy efficiency.

3D printed houses may sound like they're from a future filled with hoverboards and holograms. For Daniella Glaeze, she's already living it.

Glaeze began documenting her 3D printed home on TikTok shortly after moving into it in April. Her videos showing off the futuristic concrete house have garnered several million views — and questions.

"I'm definitely excited to bring some of this content to viewers and anyone interested in seeing the process and how these homes work," Glaeze told Business Insider in an interview over the summer.

"Homes," plural, because it's not just their house — it's a whole neighborhood. 3D printing construction startup Icon teamed up with home construction giant Lennar to build a community of 100 3D printed houses, called the Wolf Ranch, just north of Austin.

According to Icon, 95 of the homes already had their wall systems printed as of July and all 100 are expected to be complete by 2025. However, residents like Glaeze have already begun to move in.

First-time homeowners Glaeze and her husband, who are both software engineers, became interested after seeing some of these houses on TikTok.

"We're both in tech, so we know the type of engineering and innovation that goes into creating something like this, so we were really intrigued," Glaeze said.

The homes are built using a massive gantry-style printer, called the Vulcan Construction System, which spans 45.5 feet wide and 15.5 feet tall.

In one TikTok with over 4 million views, Glaeze toured her home, which has four bedrooms, three bathrooms, and a garage. Several commenters were worried about the potential of grime settling in the ribbed wall ridges, one writing, "I can't stop thinking about all the dust that would collect on the walls."

However, Glaeze reassured that despite the unmistakable grooves, she had yet to encounter any dust build-up. She said that a wipe or handheld vacuum has gotten the job done.

"The ridges on the wall are not like little shelves, they're very thin," she said. "Even if dust were to collect, I don't think it'd be very noticeable, and the walls are very easy to clean, honestly."

The simple solution seemed to be mirrored in most of her responses to other questions people brought up. Yes, you can hang things on the wall using a concrete bit. Yes, you can paint the walls with an airbrush. And yes, you can make the walls flat by sanding or using plaster.

"The walls are the only thing that are concrete and printed in the foundation," Glaeze said. "Everything else, like the electricity, the roof, the doors — they're all like a traditional home."

In fact, the only issue she has come across has been a spotty WiFi connection due to the thick concrete material, which she has combated with a WiFi booster.

So why print your home?

"My favorite thing about living in a 3D printed house is really the aesthetic," Glaeze said. "I think it's really cool; it's something new that's also different and innovative. "

Icon, which codesigned the homes with architecture firm Bjarke Ingels Group, told Business Insider that aside from added structural support, 3D printing offers architectural freedom that would be far more expensive with traditional construction. They particularly lean into biophilic designs that include more organic forms with rounded edges and curves, the company said.

Glaze said she loves how the curved walls make "the whole house feel very seamless and clean" and has been experimenting with different light fixtures that "reflect really cool with the layers."

"It's really cool to see how people get creative with decorating the home," she said. "I have a neighbor who's playing with different light and textures and abstract art that pops off the walls."

Glaeze also said the thick concrete material, dubbed "lavacrete" by Icon, is not only well-insulated to keep temperatures cool against the Texas heat, but has also been "really sturdy" against rainstorms and outside noise.

"They have a lot of drills and heavy machinery outside, and I don't hear anything," she said. "I am sensitive to super loud sounds so being in this house is so quiet and so peaceful."

Icon said its wall systems had been tested against hurricane standard winds and also announced in March a new formulation of lavacrete called CarbonX, a lower carbon emission cement material that will be used for the remaining wall systems.

3D printing promises to be cheaper — soon

While one of Glaeze's biggest incentives for moving in was the house's "really good interest rate," the actual price is pretty on par with other properties in the area.

Since the homes in this neighborhood are being sold by Lennar, their pricing is dictated by the current market, Icon said. According to the company's website, the homes currently available range from just over $489,000 to $508,890 — with more homes on the way.

However, Icon said that homeowners have reported lower lifecycle costs and utility bills due to higher energy efficiencies. It also said 3D printing offers lower construction costs and faster development.

According to the company, its robotic system typically requires two people to operate, and each wall system in Wolf Ranch took, on average, two weeks to complete.

"One thing that Icon told me is they do want to combat the housing crisis," Glaeze said. "They want to have more affordable and efficient homes."

In a follow-up interview with BI in November, Glaeze said the neighborhood "is growing rapidly."

While cell service continues to be a struggle, she said she "wouldn't trade it for anything."

"All in all, it's the best decision we've made!"

Update November 30, 2024 — Added recent quotes from Glaeze.

• CEOs are often known for their unique morning routines for optimizing productivity.
• These routines include activities like meditation and early wake-up times.
• One CEO said he likes to spend two hours reading newspapers after he wakes up.

When your daily work schedule involves running a company, starting off your morning right is crucial for many leaders.

From hour-long meditations to 4 a.m. waking times, we examined the morning routines of the CEOs of some of the world's biggest businesses.

Mark Zuckerberg

Like his fitness routine, there's a good chance Mark Zuckerberg's morning habits have evolved over time. But in an old Facebook Live Q&A, the Meta CEO said he wakes up at 8 a.m. and immediately checks Facebook, Facebook Messenger, and WhatsApp on his phone.

His social media browsing usually lasts only a few minutes, he said at the time, though it sometimes stretches out longer depending on the day.

"It's a pretty sad situation, to be honest," he said. "I have contacts, and I can't see very well. And before I put my contacts in, I often look to see what is going on Facebook."

Zuckerberg then usually follows up his screen time with gym time. Although he used to work out at least three times a week, usually running, he told Joe Rogan in 2022 that he didn't like how running gave him time to "think a lot."

Instead, he wanted to find something "that's both super engaging physically but also intellectually" where he is unable to focus on anything else.

"MMA is the perfect thing because if you stop paying attention for one second, you're going to end up on the bottom," Zuckerberg said.

The Facebook founder said on Lex Fridman's podcast in 2023 that he did three to four jiu-jitsu and MMA sessions weekly, along with strength and conditioning work and mobility training.

Tim Cook

The Apple CEO likes to start his morning as early as 4 a.m. to 5 a.m. and spends his first waking hour on emails.

Cook is "pretty religious" about reading a lot of emails from customers and employees, he said in a 2023 episode of "Dua Lipa: At Your Service."

"The customers are telling me things that they love about us or things that they want changed about us. Employees are giving me ideas," he said. "But it's a way to stay grounded in terms of what the community is feeling, and I love it."

Cook then said that he spends an hour at the gym, usually doing strength training.

"I've got somebody to really push me to do things I don't want to do, and I do no work during that period of time at all," he said. "I never check my phone."

Although it's unclear if he eats breakfast daily, he reportedly "dug into scrambled egg whites, sugar-free cereal, unsweetened almond milk, and bacon" during a 2017 interview with Andrew Ross Sorkin, a columnist at The New York Times.

Sam Altman

OpenAI's chief executive wrote in a 2018 blog post that the first few hours of the morning are his "most productive time of the day," so he makes sure to keep those periods free of meetings.

Altman said in the blog post that he rarely eats breakfast, instead opting for a big shot of espresso after waking up. As a result, he said he gets around 15 hours of fasting.

Evan Spiegel

Another early riser, the Snap CEO wakes up at 5 a.m. for some alone time, Spiegel said in a 2018 interview that appeared in the Entrepreneurship Handbook.

"I get up really early, because that's the only time that's 'Evan Time' for me, when people aren't really awake yet," he said. "I get a couple hours between 5 a.m. and 7 a.m. to do whatever I wanna do."

Earlier this year, Snap told Business Insider that Spiegel likes to check the app and his email after waking up and then drinks a double espresso. Then, he goes to the gym for 45 minutes or meditates.

Spiegel told Vogue Australia in 2022 that his wife, Australian model Miranda Kerr, got him "hooked on Kriya meditation," which he called "life-changing."

Kerr, founder of Kora Organics, has also reportedly put Spiegel on the brand's brand's turmeric brightening and exfoliating mask.

"He doesn't use it as an actual mask; he keeps it in the shower and uses it as an exfoliant," Kerr told New Beauty in 2019.

She added, "What he loves about it is that it has peppermint oil in it, so it's so invigorating. He says he can't be without it because it's his little boost of aromatherapy in the morning! It gives him energy!"

Jeff Bezos

The former Amazon CEO seems to have a slightly more relaxed start to his day and said he likes to "putter in the morning," Axios reported in 2018.

"So I like to read the newspaper," he said. "I like to have coffee. I like have breakfast with my kids before they go to school."

He and his fiancé, Lauren Sánchez, have a no-phone rule during the mornings and share a "magic moment" before the kids wake up, Sánchez told People.

The two also try to journal together, she said in 2023 interview with Vogue, though admits that they're "not quite there" yet and do it three times a week. They also enjoy coffee together, with Bezos drinking his morning brew in a self-heating Ember mug.

The billionaire then likes to get in some gym time almost every day. On a good day, Bezos said in a Lex Fridman podcast that he does 30 minutes of cardio and 45 minutes of weightlifting or some kind of resistance training.

"I have a trainer who you know I love who pushes me," Bezos said in the podcast. "Which is really helpful."

Bezos then sets his first meeting at 10 a.m. and said he likes to do his "high-IQ meetings" before noon, according to Axios.

"Like anything that's going to be really mentally challenging, that's a 10 o'clock meeting," he said. "And by 5 p.m., I'm like, 'I can't think about that today. Let's try this again tomorrow at 10 a.m.'"

Peter Warwick

The Scholastic CEO previously told BI that he wakes up between 5:30 a.m. and 6 a.m., drinks coffee, checks emails, and scans the news to start his day.

For world, political, and business news, Warwick turns to The New York Times, Wall Street Journal, and Financial Times. He also likes to keep up with the English Premier League as an Arsenal fan, so he'll check up on The Guardian, The London Times, and the Daily Telegraph to keep up with his team.

At 7 a.m., Warwick and his wife will do some "vigorous" walking or jobbing along The High Line or Hudson River Park — a ritual that the two have done nearly every morning for over a decade.

Warwick then leaves for work at 8:30 a.m., opting to walk 25 minutes to and from his office in SoHo, barring bad weather or late nights. By around 9 a.m., he gets an avocado toast and skinny latte from Cliffords, Scholastic HQ's rooftop café and coffee bar, to enjoy at his desk while going through emails.

Marc Benioff

The Salesforce CEO likes to start his day by meditating for 30 to 60 minutes to manage his stress.

A big fan of the wellness practice, Benioff has worked with monks and nuns from Plum Village in France, even hosting them at his home in 2015.

"I am very interested in keeping a clear head," he said in a 2005 interview with SFGate. "So I enjoy meditation, which I've been doing for over a decade — probably to help relieve the stress I was going through when I was working at Oracle."

He has extended his love of the practice to his employees by having meditation rooms on every floor at a Salesforce building in San Francisco, an idea he said was inspired by the Plum Village monks.

Peter Beck

CEO of space company Rocket Lab, Peter Beck, previously told BI that he starts his day between 4:30 and 5 a.m. in New Zealand by immediately going through emails.

He also completely forgoes breakfast and coffee.

"I can't drink coffee," Beck said. "It completely knocks me out and puts me to sleep."

But sometimes, his mornings can start hours before his already early schedule depending on his company's projects — which can have sporadic timing as a rocket business.

"The rocket launches when the rocket needs to launch," Beck said. "So if that's 2 a.m. in the morning, it's 2 a.m. in the morning."

Bob Iger

When the Disney CEO gets up at 4:15 a.m., he tries to avoid looking at his phone until after his morning exercise routine.

Iger said at a summit hosted by Vanity Fair in 2018 that he tries to exercise and think before he reads.

"Because if I read, it throws me off, it's distracting," he said. "I'm immediately thinking about usually someone else's thoughts instead of my own."

Iger added that he likes being alone with his own thoughts and said that it gives him "an opportunity to not just replenish but to organize, and it's important."

To further protect from distractions, Iger said he works out in a darkened room with the TV on mute, which he watches while his own music plays.

Jack Dorsey

Jack Dorsey, the cofounder of Block and X, formerly Twitter, used to wake up at around 5 a.m. and start his day with 30 minutes of meditation and then a series of seven-minute workouts, he said in a 2015 live chat.

Although he had built a very consistent routine during his time running Twitter, Dorsey said in a 2018 podcast interview with Ben Greenfield that he now wakes up at 6:15 a.m. and begins with an hour of meditation and then a cup of coffee.

"I'll say that my routine today is completely different than my routine three years ago but I feel like I have a lot of it dialed in based on what I'm currently experiencing in terms of stress and just what I have to do every day," Dorsey told Greenfield.

Jaimie Dimon

The JPMorgan CEO starts his morning at 5 a.m. and spends two hours reading five newspapers, analyst and internal bank reports, and even speech transcripts, The Wall Street Journal reported.

He then exercises for 45 minutes, doing aerobics, light weights, or stretches. Despite his voracious appetite for reading, Dimon said he tends not to be hungry in the morning.

• Nvidia CEO Jensen Huang uses AI chatbots for learning by questioning their reasoning.
• Huang's method involves asking AI to explain answers and apply reasoning to new contexts.
• Companies like Google and Khan Academy are developing AI tools for educational purposes.

Jensen Huang's method of learning from AI probably sounds more like an interrogation.

During an interview at Hong Kong University, the Nvidia CEO encouraged people to "get an AI as a tutor," revealing that he often talks to his chatbot in order to learn more.

"I use my AI," he said, "and I torture my AI to teach me."

Huang's form of "torture" involves asking the AI a question and then five follow-up queries. First, he asks why it gave its answer. Then, he prompts the AI to break it down to him "step by step." Next, he has it explain its reasoning in different ways.

He then asks the chatbot to "apply this reasoning to something else" and finally requests some analogies.

While Huang's preferred learning process is drilling chatbots with questions, companies are developing more specialized tools for teaching users. In November, Google launched "Learn About," a new AI tool that acts as a conversational learning guide for users exploring educational topics.

In March, education platform Khan Academy introduced its chatbot, Khamingo, designed to help students with various subjects such as math, writing, and programming. Powered by OpenAI's GPT-4, the chatbot doesn't provide answers outright but guides users on how to solve problems.

Founder Sal Khan said in a TED Talk that he predicts each student will eventually have an "artificially intelligent, but amazing, personal tutor." Some teachers are already incorporating AI into their curriculum for more personalized teaching assistance with each student.

• Several companies have pulled back DEI programs amid backlash from a conservative activist.
• Robby Starbuck has led social media campaigns against companies for their DEI practices.
• Companies that have withdrawn or toned down their DEI initiatives include Walmart, Lowe's, and Ford.

Nissan and Walmart are some of the latest companies to roll back their diversity, equity, and inclusion initiatives amid backlash following a pressure campaign from a conservative activist.

Many of these campaigns have been led by Robby Starbuck, a prominent conservative activist with a sizable social media following. He argues that these initiatives don't align with the values of companies' largely conservative consumer bases.

The move away from DEI policies is part of an ongoing wave of backlash against diversity programs at American companies. Tech companies such as Microsoft, Meta, and Zoom cut DEI programs this year, Business Insider reported in July, and law firms, including Winston & Strawn, faced lawsuits for affirmative action.

While activists like Starbuck are loudly criticizing companies and other groups, 61% of Americans support DEI practices, according to a Washington Post-Ipsos poll in April.

The Human Rights Campaign slammed companies' DEI rollbacks in an August statement to BI.

"Decisions to cut DEI initiatives send a clear signal to employees that their employers simply don't care about equality in the workplace. Putting politics ahead of workers and consumers only hurts the same folks that these businesses rely on," wrote Eric Bloem, the nonprofit group's vice president of programs and corporate advocacy.

Here are how some companies have cut their DEI programs.

Harley-Davidson

In August, Harley-Davidson said on X that it would drop diversity-based spending goals from suppliers, halt socially motivated employee training, and withdraw from an annual LGBTQ acceptance rating by the Human Rights Campaign, Bloomberg reported.

Harley told Bloomberg that the company was "saddened by the negativity on social media over the last few weeks, designed to divide the Harley-Davidson community," following Starbuck's calls on X for the company to apologize and change its policies.

Bloem, from the Human Rights Campaign, said in the statement to BI that retreating from DEI hurts employees and customers.

"Harley-Davidson's choice to back away from the Corporate Equality Index is an impulsive decision fueled by fringe right-wing actors and MAGA extremists who believe they can bully their way into dismantling initiatives that help everyone thrive in the workplace," Bloem wrote.

John Deere

John Deere has pulled back on its DEI commitments, including no longer participating in cultural awareness events and abolishing the company's pronoun policy, BI reported in July.

While John Deere did not publicly announce the reason for its decision, the shift came following online criticism from Starbuck in a video from X, which garnered over 5 million views in July.

Tractor Supply Company

Tractor Supply significantly scaled back its DEI programs, including eliminating diversity roles and withdrawing from Pride event sponsorship. The company also announced that it would no longer provide data to the Human Rights Campaign, and it would end its carbon emission goals. This came after Starbuck's criticized the company for promoting what he labeled as "woke" policies, NPR reported in June.

Polaris

While Starbuck did not specifically target Polaris, the Harley competitor has reduced its DEI efforts, including removing any mention of the term from its web pages. In a statement to Bloomberg, the company emphasized its intention to abstain from political discussion.

Lowe's

Home improvement retailer Lowe's said that it would scale back its DEI programs in an internal note viewed by Bloomberg.

Per the memo, the company will stop participating in surveys run by the Human Rights Campaign, and it will merge resource groups for minority employees into one umbrella organization, Bloomberg reported on August 27.

Starbuck said on X that he caused Lowe's policy shift. However, a Lowe's spokesperson told Bloomberg that they had already begun making changes prior to Starbuck's involvement.

Lowe's has a consumer base largely consisting of rural baby boomers, according to data from the consumer analytics firm Numerator.. The company was labeled "best place to work for LGBTQ equality" by the Human Rights Campaign in Lowe's 2021 culture, diversity, and inclusion report.

Orlando Gonzales, the senior vice president of programs of research and training at the Human Rights Campaign, told BI in a statement that scaling back from DEI policies would have negative consequences for companies in the long run.

"Companies should not cower to a random guy with zero business experience," Gonzales said, citing Starbuck's removal from the Tennessee GOP ballot in 2022.

Ford

In an internal email shared with Bloomberg by Starbuck, the carmaker said that it would pull out of certain diversity rankings, such as the Human Rights Campaign's Corporate Equality Index.

The company also said that it would reorient its employee resource groups to make them accessible to all staff. Ford also pledged to be less involved in political matters and changed some corporate sponsorships.

Ford faced backlash last month after it saw quality issues and vehicle recalls.

Starbuck wrote in a post on X that Ford's withdrawal from DEI initiatives came just as he was investigating Ford's "woke policies."

Meanwhile, the HRC said that Ford "cowered" to Starbuck and that the company had "decades of commitment to inclusion and top ratings on the HRC Corporate Equality Index."

"The Human Rights Campaign could not be more disappointed to see the company shirking its responsibility to its employees, consumers, and shareholders," said HRC president Kelley Robinson in a statement.

Molson Coors

Beverage company Molson Coors is scrapping many of its DEI policies and initiatives, CNBC reported Wednesday.

In an internal memo obtained by BI, Molson Coors said it would remove quotas for supplier diversity. These quotas, which encourage sourcing supplies from minority or women-owned businesses, can be "complicated and influenced by factors outside" the company's control.

Additionally, the brewer stated that it will shift company training away from DEI-based programs to focus more on key business objectives.

The company said the decision to scale back, which was in the works since March, was made to ensure that executive compensation is solely based on business performance and does not include "aspirational representation goals," according to the memo.

Molson Coors will also no longer participate in the HRC Equality Index or any other third-party company rankings, reported CNBC. The company has previously received a perfect 100-point score for 19 consecutive years.

The memo added that the driving force behind the change was "the understanding that when all our people know they are welcome, they are more engaged, motivated, and committed to our company's collective success."

Survey results by the HRC published on Tuesday found that more than 75% of adults from the LGBTQ+ community unfavorably view companies that rolled back DEI initiatives.

The HRC's Gonzales said that the LGBTQ+ community holds over $1.4 trillion in spending power in the US and wants to "work for and support companies who support us."

None of the companies responded to BI's requests for comment.

Walmart

Walmart will end some of its DEI initiatives, including winding down its nonprofit Center for Racial Equity, which Walmart funded with $100 million in 2020 for five years, and discontinuing programs that assist minority-owned suppliers.

The company will also stop using the phrase DEI in company documents, stop sharing the details of its LGBTQ+ corporate policies with the Human Rights Campaign and stop allowing third-party sellers to list items marketed toward the LGBTQ+ community.

"We are willing to change alongside our associates and customers who represent all of America. We've been on a journey and know we aren't perfect," Walmart said in a statement to BI.

In a post on the social media platform X, conservative activist Robby Starbuck claimed credit for Walmart's policy change, calling it "the biggest win yet for our movement to end wokeness in corporate America."

Nissan

Nissan is rolling back some of its diversity initiatives, Starbuck announced on social media Wednesday.

In a statement provided to BI when asked about Starbuck's post, Nissan said, "Whether with employees, customers, business partners, or the communities we serve, we believe that Nissan is a company for everyone. For nearly four decades, our commitment to respect and inclusion has been rooted in our values, shaped an environment where each of our team members can contribute at work, and ultimately contributed to the success of our business."

Starbuck said when he reached out to Nissan about their "woke policies" the company was receptive. He shared a letter that he said was sent to Nissan employees on Wednesday from Jeremie Papin, the current chairman of Nissan Americas who has been tapped to become the next CFO of the company.

The letter said the company would stop participating in third-party surveys with organizations "heavily focused on political activism." Starbuck said that meant the company would not participate in the Corporate Equality Index from the Human Rights Campaign, an LGBTQ advocacy group.

The letter also said the company would align employee training with "core business objectives" that support "personal job performance and career advancement."

Nissan told BI it was already working on its communications with employees due to questions received internally but acknowledged it had also spoken with Starbuck ahead of the announcement.

• Databricks CEO Ali Ghodsi isn't the biggest fan of interviews and "gotcha questions."
• Ghodsi prefers to analyze candidates by testing them with a real challenge within the company.
• He also talks to multiple "back-door" references to try to gain more insight.

What's your greatest weakness? Don't expect Databricks' CEO to ask that during an interview with his company.

Instead, expect to be put to work on a real problem the company is working on — maybe coupled with a morning or evening phone call to talk through it.

That's because Databricks CEO Ali Ghodsi doesn't think interviews have "that much value," he said in an episode of "The Logan Bartlett Show."

"I don't believe in interviews because I think some people interview well, and they might not be good at all," he said. "And some people interview really poorly, but they might be excellent."

Instead of trying to catch applicants with "gotcha questions" that they've likely already researched or practiced, Ghodsi said that he prefers to "actually have them do the job."

Assessments and coding tests are usually part of the hiring process for programmers and engineers, but the Databricks cofounder said applicants for other roles could also be tested by asking them to tackle issues the company is actually experiencing.

"If you're hiring someone for head of marketing, work with them to fix something that's broken in marketing right now," he said. Call them up in the morning or evening and talk through the issue, he said, and "if they could fix those things, they're clearly a good hire."

By having them do basically the job "as if they were already an employee," Ghodsi said that he's able to gauge the candidate's ability and whether they are on "the same wavelength."

Ghodsi isn't the only executive who finds standard interview questions a poor litmus test for potential hires.

Nvidia CEO Jensen Huang said that he likes asking candidates "one in-depth question" to see how they reason through it, as opposed to technical questions that are often shared online. The other questions Huang likes to ask are not directed at applicants at all. The Nvidia founder said in a recent podcast interview that he likes to "go back to reference checks" with questions he would ask candidates.

"You could always make for a great moment, but it's hard for you to run away from your past," the Nvidia CEO said.

Ghodsi similarly looks for five to 10 "back-door references," or former bosses or coworkers that candidates do not provide themselves, in order to understand the candidates, sometimes "better than they know themselves."

"Because you know all the things they went through, and you know the perspective of three, four people that saw that happen to them in the previous job," he said. "They might not actually fully comprehend what everybody thought about that situation."

And while Ghodsi may not view the standard interview approach as the best way to analyze a candidate, that doesn't mean he thinks the process should be scrapped. He said he believes executives should be heavily involved in the interview process — especially newer leaders.

For example, new founders looking for a great chief financial officer, chief revenue officer, or VP of engineering should immerse themselves by interviewing candidates and "doing back doors on everyone," Ghodsi said on an episode of the "A16z Podcast."

Although references can often default to generic positive reviews, Ghodsi said that if he finds one that really "opens up," he asks them to rank how good the candidate is.

"Then you want to go really deep," he said. "Who's No. 1, who's No. 2 on your list — by the way, you go after those as well, of course."

Ghodsi said he likes to "grill" them with follow-up questions on specific situations, almost to the point that "they become uncomfortable," to get a fuller picture of the candidate.

"Like, what did they do well? Tell me something that went wrong; give me a scenario; what was that scenario," Ghodsi said. "Really push the boundary."

• Apple's Find My feature started from an intern's idea to track lost devices.
• It began with the Find My iPhone app, announced at the 2009 Worldwide Developers Conference.
• The feature evolved to include Find My Friends and AirTags for all Apple devices.

If you've ever done the dreaded pat-down of your pockets when you realized your phone is missing, Apple's Find My feature has probably been a lifesaver.

And, according to Apple's senior vice president of services, Eddy Cue, the company's idea for the feature was found through surprisingly humble origins.

Cue, in an interview earlier this year with tech YouTuber Safwan AhmedMia (better known by his moniker SuperSaf), said that the company's Find My ecosystem was actually started by an intern.

The now ubiquitous tool for more forgetful users "started with the idea of somebody losing their phone on the couch," Cue said. After an intern recognized the universal panic of misplacing your phone, the company worked to develop a solution.

"I remember one of the first things was if you have your phone in silent mode, it better override silent mode, or you're not going to see it," he said.

The original Find My iPhone app was first announced in 2009 during Apple's 26th Worldwide Developers Conference. It was released the following year alongside the iPhone OS 3, initially only available to members of Apple's now-defunct paid MobileMe service.

With the introduction of iCloud in 2011, it became free for all users. Later that year, the feature was extended to Macs with "Find My Mac" and has since become preinstalled on all iPhones, iPads, Macs, and Apple Watches.

And now it's not just for lost devices but people and, say, misplaced luggage.

"Look at where it's led to," Cue said. "It went to Find My Friends to now AirTags because you're finding your suitcase somewhere in the airport."

Find My Friends, which allows users to share their locations with each other, was announced in 2011 on the day before Steve Jobs' death.

Ten years later, the AirTag was released, allowing people to trace personal items with the physical tracking device that's now popular for luggage, keys, and other accessories.

Apple has since announced further integrations with airports, allowing customers to share their AirTag location with airlines like Delta to help track down lost luggage. The feature, Share Item Location, is expected to launch in December with iOS 18.2.

Other companies have introduced similar tech to Apple's Find My features, including Google, which announced earlier this April that its own Find My Device feature would now be available for Android phones and tablets.

But when it comes to Apple, "this is a great example of one where you go, 'Well sure, that's pretty easy. It didn't take a genius to think that,'" Cue said. "But nobody thought of it until we did it."

• Last year's job cuts weren't the end of layoffs. Further reductions continue in 2024.
• Companies like Flagstar Bank, Meta, PwC, Tesla, Google, Microsoft, and Nike have all announced cuts.
• See the list of companies reducing their worker numbers in 2024.

After a brutal year of layoffs in 2023, companies this year have continued to cut jobs across tech, media, finance, manufacturing, and retail.

Tech titans like Meta, IBM, Google, and Microsoft; finance leaders like Goldman Sachs, Citi, and BlackRock; accounting firms like PwC; entertainment behemoths like Pixar and Paramount; and corporate giants like Tesla, Dow, and Nike have all announced layoffs.

A survey in late December said nearly 40% of business leaders had expected layoffs this year, ResumeBuilder said. ResumeBuilder talked to about 900 leaders at organizations with more than 10 employees.

One major factor survey respondents cited was artificial intelligence. Around four in 10 leaders said they would conduct layoffs as they replace workers with AI. Last year, Dropbox, Google, and IBM announced job cuts related to AI.

Here are the dozens of companies with job cuts planned or already underway in 2024.

The US' biggest privately-owned company, Cargill, is cutting thousands of jobs

Cargill, the largest privately owned company in the US, is slashing 5% of its workforce.

The company, which is the world's largest agricultural commodities trader, will lay off thousands of workers from its 164,000-strong workforce, Bloomberg reported on Monday, citing an internal memo it had seen.

"To strengthen Cargill's impact, we must realign our talent and resources to align with our strategy," a Cargill spokesperson told BI.

The cuts would impact workers across all professional levels from countries in Asia, Latin America, North America, Europe, the Middle East, and Africa.

The layoffs will not touch its executive team but will impact its "next level senior leaders," Bloomberg reported, citing people familiar with the matter.

"The majority of these reductions will take place this year," Chief Executive Officer Brian Sikes said in the memo, seen by Bloomberg. "They'll focus on streamlining our organizational structure by removing layers, expanding the scope and responsibilities of our managers, and reducing duplication of work."

Microchip Tech is closing an Arizona factory

Microchip Technology, a chipmaker for a variety of consumer products, on Monday said it was closing a facility in Tempe, Arizona, as it deals with slower-than-anticipated orders.

The closure is expected to affect about 500 jobs from the company's total of 22,300, Microchip said. The closure will progress in stages and end in September 2025.

"While the company has taken steps to right size inventory and reduce expenses— including temporary pay reductions and company-wide and factory shutdowns—these measures have not been enough," a spokesperson for Microchip said in a statement on Tuesday.

Microchip also updated its revenue guidance for the quarter ending in December quarter to $1.025 billion, which is at the lower end of its earlier forecast.

The company's stock fell about 3% in after-hours trading and is down 22% year-to-date.

Publishing giant Hearst Magazines trims staff.

The owner of publications including Esquire and Cosmopolitan is conducting a round of layoffs, The Hollywood Reporter said in a November 21 report.

The exact number of positions impacted is not clear.

"After a thorough review of our business, we've decided to reallocate resources to better support our goals and continue our focus on digital innovation while strengthening our best in class print products," Hearst Magazines president Debi Chirichella told staff in a memo obtained by THR. "We will scale back in areas that do not support our core strategy and will eliminate certain positions as we reimagine our team structures to drive long-term growth."

Boeing starts issuing layoff notices to 400 workers amid plans for 10% global cut

In October, Boeing said that it would cut 10% of its 170,000-strong global workforce. The reduction plan will include 2,199 employees in Washington and another 50 in Oregon, according to the company's filings.

As part of the cuts, Boeing is laying off more than 400 workers who are part of its professional aerospace labor union. The Seattle Times reported that 438 members of the Society of Professional Engineering Employees in Aerospace (SPEEA) received pink slips.

These included engineers, scientists, analysts, technicians, and other jobs, the outlet reported.

In a note to employees on October 11, CEO Kelly Ortberg said Boeing was in a "difficult position" and that "restoring our company requires tough decisions."

The layoffs come at a difficult time for Boeing. Its share price has fallen more than 40% since the start of the year as it grapples with the fallout from a seven-week strike and technical faults like a door plug coming off an Alaska Airlines 737 Max midflight in January.

Representatives of Boeing and the SPEEA didn't immediately respond to a request for comment from Business Insider.

Exxon is cutting nearly 400 jobs after Pioneer merger

ExxonMobil is cutting about 400 employees from Pioneer Natural Resources, the oil and gas company it acquired earlier this year.

The cuts will come in seven stages and will be completed in May 2026, Exxon said in a notice to the Texas Workforce Commission.

The cuts represent almost 20% of Pioneer's pre-merger workforce and will mostly affect employees in Pioneer's suburban Dallas offices, the notice said.

AMD is laying off roughly 4% of its workforce.

AMD confirmed it would be reducing its global staff, which numbered around 26,000 total employees as of December 2023.

″As a part of aligning our resources with our largest growth opportunities, we are taking a number of targeted steps that will unfortunately result in reducing our global workforce by approximately 4%," an AMD representative said in a statement to Business Insider. "We are committed to treating impacted employees with respect and helping them through this transition."

The cuts are reportedly targeting sales and marketing roles in areas like consumer PC and gaming PC, according to Bloomberg.

The computer chipmaker is focusing efforts on the artificial intelligence industry as it chases rival Nvidia in the GPU market. In October, AMD raised its 2024 GPU sales estimates from its initial $4.5 billion to over $5 billion.

Chegg is cutting 21% of its employees as AI search destroys its business

Online education site Chegg is laying off staff for the second time this year as generative AI platforms obliterate its business model.

Chegg said it is cutting 319 employees, or 21% of its staff, as it faces strong competition from platforms like ChatGPT. The company slashed global headcount by 23% in June.

"The speed and scale of Google's AIO rollout and student adoption of generative AI products have negatively impacted our industry and our business," Nathan Schultz, Chegg's CEO, said in an earnings release. The company reported a loss of $212.6 million for the third quarter.

Chegg's stock has fallen nearly 85% since the start of this year.

23andMe is cutting 40% of its staff

Genetic testing company 23andMe is cutting 200 employees, or 40% of its workforce, to reduce costs and refocus its business.

The Bay Area-based company is also discontinuing further development of all its therapeutics programs, it said in a mid-November statement.

Anne Wojcicki, 23andMe's CEO and cofounder, has been trying to take the struggling company private since April.

23andMe debuted on the stock market in 2021 but fallen from its peak valuation of $6 billion — its market cap is now north of $100 million. Financial and strategic missteps, as well as high-profile user data hacks, have dragged the company down.

Beyond Inc. plans to cut 20% of its workforce

The parent company of Bed Bath & Beyond, Overstock, Zulily, and other brands revealed its decision to slash a fifth of its staff in an October SEC filing.

The workplace reduction was taken to create a more "variable, leverageable cost structure" and to help align the company with its "asset-light business that supports an affinity and data monetization model with a strong technology focus," Beyond Inc. said in the filing.

The cuts are estimated to save roughly $20 million annually in fixed costs and are expected to be "substantially implemented" in the fourth quarter of 2024.

The news came shortly after Beyond Inc. and Kirkland announced a partnership that means physical Bed Bath & Beyond stores will return in smaller-format "neighborhood" locations.

Meta added to the 20,000+ people it's laid off since 2022

Meta is eliminating some roles on units including Instagram, WhatsApp, and its VR and AR division Reality Labs.

"A few teams at Meta are making changes to ensure resources are aligned with their long-term strategic goals and location strategy," a Meta spokesperson told BI on October 17. "This includes moving some teams to different locations, and moving some employees to different roles."

It's unclear how many roles will be affected, but Meta has trimmed its staff significantly in the year and a half, with more than 20,000 job cuts since 2022. CEO Mark Zuckerberg proclaimed 2023 a "year of efficiency" at the company, and continued cost-cutting measures this year as the tech giant gets flatter in structure.

TikTok is laying off employees as part of content moderation changes.

TikTok is cutting employees in various locations as part of changes to its content-moderation strategy.

A spokesperson for the China-owned company told Reuters in October that 80% of content that violates its policy is now removed through automated technology.

The company did not provide details on the exact number of positions that it eliminated but told Reuters the cuts would affect "several hundred" employees.

PwC is cutting 1,800 employees.

Big Four accounting firm PwC is cutting 1,800 workers, which is about 2.5% of its staff. The cuts will impact staffers ranging from associates to managing directors — half of them offshore. Those affected by the cuts will be informed in October.

In an emailed statement to Business Insider, Tim Grady, PwC's US chief operating officer, said, "To remain competitive and position our business for the future, we are continuing to transform
areas of our firm and are aligning our workforce to better support our strategy, including attracting and moving the right talent and skill sets to the areas where we need them most. Right now, we are focused on running our business well and adapting to meet the needs of our clients and the rapidly changing market."

Nike's up-to-$2 billion cost-cutting plan will involve severances

Nike announced its cost-cutting plans in a December 2023 earnings call, discussing a slow growth in sales. The call subsequently resulted in Nike's stock plunging.

"We are seeing indications of more cautious consumer behavior around the world," Nike Chief Financial Officer Matt Friend said in December.

Google laid off hundreds more workers in 2024

On January 10, Google laid off hundreds of workers in its central engineering division and members of its hardware teams — including those working on its voice-activated assistant.

In an email to some affected employees, the company encouraged them to consider applying for open positions at Google if they want to remain employed. April 9 was the last day for those unable to secure a new position, the email said.

The tech giant laid off thousands throughout 2023, beginning with a 6% reduction of its global workforce — about 12,000 people — last January.

Discord laid off 170 employees.

Discord employees learned about the layoffs in an all-hands meeting and a memo sent by CEO Jason Citron in early January.

"We grew quickly and expanded our workforce even faster, increasing by 5x since 2020," Citron said in the memo. "As a result, we took on more projects and became less efficient in how we operated."

In August 2023, Discord reduced its headcount by 4%. According to CNBC, the company was valued at $15 billion in 2021.

Citi will cut 20,000 from its staff as part of its corporate overhaul.

The layoffs announced in January are part of a larger Citigroup initiative to restructure the business and could leave the company with a remaining head count of 180,000 — excluding its Mexico operations.

In an earnings call that month, the bank said that layoffs could save the company up to $2.5 billion after it suffered a "very disappointing" final quarter last year.

Amazon-owned Twitch also announced job cuts.

Twitch announced on January 10 that it would cut 500 jobs, affecting over a third of the employees at the live-streaming company.

CEO Dan Clancy announced the layoffs in a memo, telling staff that while the company has tried to cut costs, the operation is "meaningfully" bigger than necessary.

"As you all know, we have worked hard over the last year to run our business as sustainably as possible," Clancy wrote. "Unfortunately, we still have work to do to rightsize our company and I regret having to share that we are taking the painful step to reduce our headcount by just over 500 people across Twitch."

BlackRock is planning to cut 3% of its staff.

Larry Fink, BlackRock's chief executive, and Rob Kapito, the firm's president, announced in January that the layoffs would affect around 600 people from its workforce of about 20,000.

However, the company has plans to expand in other areas to support growth in its overseas markets.

"As we prepare for 2024 and this very exciting but distinctly different landscape, businesses across the firm have developed plans to reallocate resources," the company leaders said in a memo.

Rent the Runway is slashing 10% of its corporate jobs as part of a restructuring.

In the fashion company's January announcement, COO and president Anushka Salinas said she will also be leaving the firm, Fast Company reported.

Unity Software is eliminating 25% of its workforce.

Around 1,800 jobs at the video game software company will be affected by the layoffs announced, Reuters reported in January.

eBay cut 1,000 jobs

In a January 23 memo, CEO Jamie Iannone told employees that the eBay layoffs will affect about 9% of the company's workforce.

Iannone told employees that layoffs were necessary as the company's "overall headcount and expenses have outpaced the growth of our business."

The company also plans to scale back on contractors.

Microsoft is reportedly cutting 650 more jobs from its Xbox division

Microsoft will be laying off hundreds of employees in its Xbox gaming division, Bloomberg first reported in September.

The job cuts will mainly affect workers in corporate and support functions, the outlet reported, citing a memo sent by Microsoft Gaming chief Phil Spencer.

However, he reportedly added that the company is not planning to close any studios or remove any games or devices.

This comes after the company also slashed 1,900 workers at Activision, Xbox, and ZeniMax in late January.

Nearly three months after Microsoft acquired video game firm Activision Blizzard, the company announced layoffs in its gaming divisions. The layoffs mostly affect employees at Activision Blizzard.

Xbox in May also reportedly offered some employees voluntary severance packages after shutting three units and absorbing a fourth earlier in the month.

Salesforce is cutting 700 employees across the company, The Wall Street Journal reported

Salesforce announced a round of layoffs that the company says will affect 1% of its global workforce, The Journal reported in late January.

The cuts followed a wave of cuts at the cloud giant last year. In 2023, Marc Benioff's company laid off about 10% of its total workforce — or roughly 7,000 jobs. The CEO said the company over-hired during the pandemic.

iRobot is laying off around 350 employees and founder Colin Angle will step down as chairman and CEO

The company behind the Roomba Vacuum announced layoffs in late January around the same time Amazon decided not to go through with its proposed acquisition of the company, the Associated Press reported.

UPS will cut 12,000 jobs in 2024.

The UPS layoffs will affect 14% of the company's 85,000 managers and could save the company $1 billion in 2024, UPS CEO Carol Tomé said during a January earnings call.

Paypal CEO Alex Chriss announced the company would lay off 9% of its workforce.

Announced in late January, this round of layoffs will affect about 2,500 employees at the payment processing company.

"We are doing this to right-size our business, allowing us to move with the speed needed to deliver for our customers and drive profitable growth," CEO Alex Chriss wrote in a January memo. "At the same time, we will continue to invest in areas of the business we believe will create and accelerate growth."

Okta is cutting roughly 7% of its workforce.

The digital-access-management company announced its plans for a "restructuring plan intended to improve operating efficiencies and strengthen the Company's commitment to profitable growth" in an SEC filing in February.

The cuts will impact roughly 400 employees.

Okta CEO Todd McKinnon told staff in a memo that "costs are still too high," CNBC reported.

Snap has announced more layoffs.

The company behind Snapchat announced in February that it's reducing its global workforce by 10%, according to an SEC filing.

Estée Lauder said it will eliminate up to 3,100 positions.

The cosmetics company announced in February that it would be cutting 3% to 5% of its roles as part of a restructuring plan.

Estee Lauder reportedly employed about 62,000 employees around the world as of June 30, 2023.

DocuSign is eliminating roughly 6% of its workforce as part of a restructuring plan.

The electronic signature company said in an SEC filing in February that most of the cuts will be in its sales and marketing divisions.

Zoom is slashing 150 jobs

Zoom announced 150 job losses in February, which amounted to about 2% of its workforce. It had announced it was laying off 1,300 people the previous February.

Paramount Global is laying off 800 employees days after record-breaking Super Bowl

In February, Paramount Global CEO Bob Bakish sent a memo to employees announcing that 800 jobs — about 3% of its workforce — were being cut.

Deadline obtained the memo less than a month after reporting plans for layoffs at Paramount. The announcement comes on the heels of Super Bowl LVIII reaching record-high viewership across CBS, Paramount+, and Nickelodeon, and Univision.

Morgan Stanley is trimming its wealth management division by hundreds of staffers

Morgan Stanley is laying off several hundred employees in its wealth-management division, the Wall Street Journal reported in February, representing roughly 1% of the team.

The wealth-management division has seen some slowdown at the start of 2024, with net new assets down by about 8% from a year ago. The layoffs mark the first major move by newly-installed CEO Ted Pick, who took the reins from James Gorman on January 1.

Expedia Group is cutting more than 8% of its workforce

An Expedia spokesperson told BI that it was implementing cutbacks, as part of an operational review, that were expected to impact 1,500 roles this year.

The company's product and technology division is set to be the worst hit, a report from GeekWire said, citing an internal memo CEO Peter Kern sent to employees in late February.

"While this review will result in the elimination of some roles, it also allows the company to invest in core strategic areas for growth," the spokesperson said.

"Consultation with local employee representatives, where applicable, will occur before making any final decisions," they added.

Sony is laying off 900 workers

The cuts at Sony Interactive Entertainment swept through its game-making teams at PlayStation Studios.

Insomniac Games, which developed the hit Spider-Man video game series, as well as Naughty Dog, the developers behind Sony's flagship 'The Last of Us' video games' were hit by the cuts, the company announced on February 27.

All of PlayStation's London studio will be shuttered, according to the proposal.

"Delivering and sustaining social, online experiences – allowing PlayStation gamers to explore our worlds in different ways – as well as launching games on additional devices such as PC and Mobile, requires a different approach and different resources," PlayStation Studios boss Hermen Hulst wrote.

Hulst added that some games in development will be shut down, though he didn't say which ones.

In early February, Sony said it missed its target for selling PlayStation 5 consoles. The earnings report sent shares tumbling and the company's stock lost about $10 billion in value.

Bumble slashed 30% of its workforce

On February 27, the dating app company announced that it would be reducing its staff due to "future strategic priorities" for its business, per a statement.

The cuts will impact about 30% of its about 1,200 person workforce or about 350 roles, a representative for Bumble told BI by email.

"We are taking significant and decisive actions that ensure our customers remain at the center of everything we do as we relaunch Bumble App, transform our organization and accelerate our product roadmap," Bumble Inc CEO Lidiane Jones said in a statement.

Electronic Arts reduced its workforce by 5%

Electronic Arts is laying off about 670 workers, equating to 5% of its workforce, Bloomberg reported in late February.

The gaming firm axed two mobile games earlier in February, which it described as a difficult decision in a statement issued to GamesIndustry.biz.

CEO Andrew Wilson reportedly told employees in a memo that it would be "moving away from development of future licensed IP that we do not believe will be successful in our changing industry."

Wilson also said in the memo that the cuts came as a result of shifting customer needs and a refocusing of the company, Bloomberg reported.

IBM cut staff in marketing and communications

IBM's chief communications officer Jonathan Adashek told employees on March 12 that it would be cutting staff, CNBC reported, citing a source familiar with the matter.

An IBM spokesperson told Business Insider in a statement that the cuts follow a broader workforce action the company announced during its earnings call in January.

"In 4Q earnings earlier this year, IBM disclosed a workforce rebalancing charge that would represent a very low single-digit percentage of IBM's global workforce, and we expect to exit 2024 at roughly the same level of employment as we entered with," they said.

IBM has also been clear about the impact of AI on its workforce. In May 2023, IBM's CEO Arvind Krishna said the company expected to pause hiring on roles that could be replaced by AI, especially in areas like human resources and other non-consumer-facing departments.

"I could easily see 30% of that getting replaced by AI and automation over a five-year period," Krishna told Bloomberg at the time.

Amazon is laying off hundreds in its cloud division in yet another round of cuts this year

Amazon is cutting hundreds of jobs from its cloud division known as Amazon Web Services, Bloomberg reported on April 3.

The reduction will impact employees on the sales and marketing team and those working on tech for its retail stores, Bloomberg reported.

"We've identified a few targeted areas of the organization we need to streamline in order to continue focusing our efforts on the key strategic areas that we believe will deliver maximum impact," an Amazon spokesperson told Bloomberg.

On March 26, Amazon announced another round of job cuts after the company said it was slashing 'several hundred' jobs at its Prime Video and MGM Studios divisions earlier this year to refocus on more profitable products.

"We've identified opportunities to reduce or discontinue investments in certain areas while increasing our investment and focus on content and product initiatives that deliver the most impact," Mike Hopkins, SVP of Prime Video and Amazon MGM Studios, told employees in January.

This year's cuts follow the largest staff layoff in the company's history. In 2023, the tech giant laid off 18,000 workers.

Apple has cut over 700 employees across its self-driving car, displays, and services groups

Apple slashed its California workforce by more than 600 employees in April.

The cuts came after Apple decided to withdraw from its car and smartwatch display projects.

The tech giant filed a series of notices to comply with the Worker Adjustment and Retraining Notification program. One of the addresses was linked to a new display development office, while the others were for the company's EV effort, Bloomberg reported.

Apple officially shut down its decadelong EV project in February. At the time, Bloomberg reported that some employees would move to generative AI, but others would be laid off.

Bloomberg noted that the layoffs were likely an undercount of the full scope of staff cuts, as Apple had staff working on these projects in other locations.

In late August, Bloomberg reported that Apple was slashing 100 jobs in its services group, citing people familiar with the matter.

The layoffs mainly involved people working on the Apple Books app and the Apple Bookstore, Bloomberg reported. Cuts were also made to other service teams like Apple News, the outlet added.

Representatives for Apple did not respond to a request for comment from Business Insider sent outside normal business hours.

Tesla laid off over 10% of its workforce

Tesla CEO Elon Musk sent a memo to employees on April 14, at nearly midnight in California, informing them of the company's plan to cut over 10% of its global workforce.

In his companywide memo, Musk cited "duplication of roles and job functions in certain areas" as the reason behind the reductions.

An email sent to terminated employees, obtained by BI, read: "Effective now, you will not need to perform any further work and therefore will no longer have access to Tesla systems and physical locations."

On April 29, Musk reportedly sent an email stating the need for more layoffs at Tesla. He also announced the departure of two executives and said that their reports would also be let go. Six known Tesla executives have left the company since layoffs began in April.

Grand Theft Auto 6 publisher Take-Two Interactive is reducing its workforce by 5%

Take-Two Interactive, the parent company of Rockstar Games, said on April 16 that it would be "eliminating several projects" and reducing its workforce by about 5%.

The move — a part of its larger "cost reduction program" — will cost the video game publisher up to $200 million. It's expected to be completed by December 31.

As of March 2023, the company said it employed approximately 11,580 full-time workers.

Peloton announced it was reducing its staff by 15% as the CEO stepped down

Peloton CEO Barry McCarthy is stepping down, the company announced May 2. Along with his departure, the fitness company is also laying off about 400 workers.

McCarthy is leaving his role just two years after replacing John Foley as CEO and president in 2022. Peloton said the changes are expected to reduce annual expenses by over $200 million by the end of fiscal 2025 as part of a larger restructuring plan.

Indeed is cutting 1,000 workers after laying off 2,200 in 2023

Careers site Indeed says it will lay off roughly 1,000 employees, or 8% of its workforce, as it looks to simplify its organization.

CEO Chris Hyams took responsibility for "how we got here" in a memo in May but said the company is not yet set up for growth after last year's global hiring slowdown caused multiple quarters of declining sales.

Hyams said the latest cuts will be more concentrated in the US and primarily affect R&D and Go-to-Market teams. It comes after last year's across-the-board reduction of 2,200 workers.

Walmart is axing hundreds of corporate jobs

Retail giant Walmart is cutting hundreds of corporate jobs and asking remote employees to come to work, The Wall Street Journal reported in May, citing people familiar with the matter.

Workers in smaller offices, such as those in Dallas, Atlanta, and Toronto, are also being asked to move to central locations like Walmart's corporate headquarters in Arkansas or those in New Jersey or California, the Journal reported.

Under Armour is slashing an unspecified number of jobs, incurring $22 million in severance costs

Under Armour confirmed it was conducting layoffs in its quarterly earnings report, which was released May 16.

The company said it will pay out employee severance and benefits expenses of roughly $15 million in cash-related and $7 million in non-cash charges this year related to a restructuring plan, with close to half of that occurring in the current fiscal quarter.

"This is not where I envisaged Under Armour playing at this point in our journey," CEO Kevin Plank told investors on the company's full-year earnings call. "That said, we'll use this turbulence to reconstitute our brand and business, giving athletes, retail customers and shareholders bigger and better reasons to care about and believe in Under Armour's potential."

Pixar cuts about 175 people in pivot back to feature films

Disney's Pixar Animation Studios is cutting 175 people, about 14% of its staff, Reuters reported.

The cuts started on May 21 as the studio returns to its focus on feature-length movies. Former Disney CEO Bob Chapek, who was axed in 2022, had increased staff across studios to create more content for the company's streaming service, Disney+.

Pixar cut 75 jobs last year, Reuters previously reported, part of a larger restructuring across Disney.

Lucid Motors is slashing around 400 jobs

In a regulatory filing, Lucid Motors said it would lay off about 400 employees as part of a restructuring plan that should be complete by the end of the third quarter.

"I'm confident Lucid will deliver the world's best SUV and dramatically expand our total addressable market, but we aren't generating revenue from the program yet," CEO Peter Rawlinson said in an email to employees obtained by TechCrunch.

The cuts come ahead of Lucid's launch of its first electric SUV later this year. It comes over a year after the California-based company laid off 1,300 employees, TechCrunch previously reported.

John Deere is laying off over 600 employees

John Deere, maker of the iconic green-and-yellow tractors, is laying off over 600 employees at factories in Illinois and Iowa, the AP reported July 1.

In May, John Deere said sales fell for the third consecutive quarter and projected that the declines would continue in the second half of its fiscal year.

Burberry is expected to cut 100s of jobs

London-based luxury retailer Burberry is expected to cut hundreds of jobs in the coming weeks, the Telegraph reported July 6.

Employees learned about the cuts in late June when they were told in a Zoom meeting that their roles could be eliminated or that they would need to apply for other jobs, according to the Telegraph.

Intuit announced cuts on July 10

Intuit announced on July 10 that it's cutting its workforce by 10%. The layoffs will affect 1,800 employees nationwide, but the company plans to hire 1,800 new employees in "key areas" like engineering, InvestorPlace reports.

The refocus on other areas is following a shift in focus on AI within the company, according to the outlet.

Intuit's stock dropped by 4.01% on July 10 after the company announced the layoffs.

Tinder parent Match group plans to cut 6% of jobs

Match Group, the parent company of Tinder and Hinge, said on July 30 that it would reduce its global workforce by about 6%, or about 156 employees because it is exiting the livestreaming business.

Match said it would remove the livestreaming service from its app Plenty of Fish and sunset the Hakuna app, which focuses on Korea and Japan.

The reduction in workforce is expected to save the company $13 million in annual costs.

Disney cuts 140 jobs across its TV division

Deadline and Bloomberg reported in July that Disney was making cuts across its TV division, to the tune of roughly 140 jobs — or 2% of the staff at Disney Entertainment Television (DET).

Layoffs will impact National Geographic, owned television stations, the marketing and publicity departments, and Freeform, per a source close to the matter, which notes no teams have been eliminated.

While Disney's cable TV business generates billions, it's on the decline, Bloomberg reports, and the company is seeking to cut costs.

Last year, Disney slashed 7,000 jobs across multiple rounds of layoffs as part of a strategy implemented by returning CEO Bob Iger.

Intel plans to eliminate thousands of jobs

Intel plans to cut thousands of jobs in response to a second-quarter earnings slump, Bloomberg reported earlier this week, citing unnamed people familiar with the move.

It was officially announced on August 1, as it posted Q2 earnings. The company intends to reduce its workforce by 15% by the end of 2024.

"Our Q2 financial performance was disappointing, even as we hit key product and process technology milestones," Intel CEO Pat Gelsinger said in a statement. "Second-half trends are more challenging than we previously expected, and we are leveraging our new operating model to take decisive actions that will improve operating and capital efficiencies while accelerating our IDM 2.0 transformation."

Intel's stock was down following the lackluster earnings.

The layoffs come after the chip maker laid off about 5% of its workforce last year, bringing its head count down to around 124,000, Bloomberg reported.

During the last round of layoffs, announced in October 2022, Intel faced a drop in demand for processors for personal computers and estimated the layoffs would save $10 billion in costs by 2025, per Bloomberg.

Intel did not immediately respond to a request for comment.

WW International is cutting jobs in corporate

Diet program creator WW International, formerly WeightWatchers, plans to lay off employees, it said in an earnings call on August 1.

The company did not specify the number of jobs it will cut. But the layoffs will largely focus on corporate positions, including a 40% cut in roles above and at the vice president level.

The cuts are expected to save the company $60 million, the company's chief financial officer said.

Dell is cutting sales jobs in new focus on AI products

Dell is cutting jobs on its sales team, Bloomberg reported. It wasn't immediately clear how many jobs Dell planned to eliminate.

In a memo announcing the cuts, company executives said that the choice was part of a restructuring to focus more on selling AI products and data center services, Bloomberg reported.

Dell did not immediately respond to a request for comment from BI, but a spokesman told Bloomberg: "Through a reorganization of our go-to-market teams and an ongoing series of actions, we are becoming a leaner company."

Paramount Global announced it plans to slash 15% of its US workforce

Paramount Global is planning to cut about 2,000 jobs ahead of its merger with Skydance Media, CNBC reported.

The company identified $500 million in cost savings as it prepared to join forces with Skydance, totalling about 15% of its US workforce, according to the outlet.

The cuts will begin in a few weeks and will mostly be finished by the end of 2024. Paramount employees in marketing and communications, finance, legal, technology, and other support functions have been targeted, the company said on an earnings call.

The cuts come about a month after Paramount agreed to merge with Skydance. Paramount shares jumped more than 5% after hours.

Stellantis is slashing white-collar and factory jobs

In August, the owner of Jeep and Dodge announced it is cutting 2,450 factory workers from its Warren Truck assembly plant outside Detroit.

The layoffs come because the company is ending production of the Ram 1500 Classic truck, Stellantis said. These factory cuts came after white-collar jobs were axed earlier this year.

On March 22, the company said it would lay off employees on its engineering, technology, and software teams in an effort to cut costs, CNBC reported.

Stellantis announced plans for another round of layoffs on July 30, according to Bloomberg. The company is offering voluntary buyouts to non-unionized US employees to "assist those interested in pursuing other career options or retirement," Stellantis said in a message seen by Bloomberg.

The job cuts, the total number of which remains unknown, come after a difficult first half of the year, with unit sales sinking by 16% in the US.

Sonos laid off about 6% of its workforce

The audio equipment company said it slashed roughly 100 jobs in August. The layoffs significantly targeted its marketing division, The Verge reported.

CEO Patrick Spence said in a statement to BI that the company is now focusing on departing employees and "ensuring they have the support they need."

"This action was a difficult, but necessary, measure to ensure continued, meaningful investment in Sonos' product roadmap while setting Sonos up for long term success," Spence said.

Sonos is also reducing some of its customer support offices and will close one in Amsterdam later this year, according to The Verge.

The company previously cut around 7% of its workforce in June 2023, a month after it announced a 24% revenue drop in the second quarter compared to the previous year.

Cisco announced two rounds of layoffs this year

In February, networking company Cisco announced it was slashing 5% of its workforce, upward of 4,000 jobs, Bloomberg reported.

The company said it was restructuring after an industry-wide pullback in corporate tech spending — which execs said they expect to continue through the first half of the year.

On August 14, in a filing, Cisco said it would further reduce its global workforce by 7% amid sales and revenue declines. Reuters reported earlier that the company was slashing around 4,000 jobs as it shifted attention to cybersecurity and artificial intelligence.

Per its latest annual filing, Cisco had about 85,000 employees as of July 2023.

GoPro is laying off nearly 140 employees

Long-troubled GoPro is laying off 15% of its 925 current employees, the company said in a filing.

The action sports camera maker reported a net loss of nearly $48 million in the quarter that ended in June, adding to a streak of consecutive losses.

The company laid off 4% of its staff in March.

Shell is reportedly planning for major cuts in its oil exploration division

Oil giant Shell will slash its workforce in oil and gas exploration and development by 20%, according to an August 29 report from Reuters. Company sources reportedly cited intentions to cut costs in the highly profitable segments due to "deep cuts in renewables and low-carbon businesses."

Exploration, wells development, and subsurface units will face hundreds of layoffs globally, with offices in Houston, The Hauge, and Britain expected to take the biggest hit, the sources told Reuters.

A Shell spokesperson would not comment directly on the layoffs but told Business Insider that, "Shell aims to create more value with less emissions by focusing on performance, discipline and simplification across the business."

"That includes delivering structural operating cost reductions of $2-3 billion by the end of 2025, as announced at our Capital Markets Day event in June 2023," the spokesperson added.

Goldman Sachs plans to lay off more than 1,300 workers, The Wall Street Journal reported

The global investment bank is set to cut hundreds of employees during annual reviews this year, The Wall Street Journal reported, citing people familiar with the situation.

Goldman Sachs is targeting low performers with the intention of laying off between 3% and 4% of its global workforce, equaling somewhere between 1,300 and 1,800 people, according to the outlet.

The cuts are already underway and will continue in the coming months, one person told the outlet. Goldman typically tries to cut anywhere from 2% to 7% of employees each year, per The Journal.

Gwyneth Paltrow's Goop is cutting 18% of staff

Goop is cutting 18% of its 216-person staff, citing a change to its organization, WWD wrote in September. It will now focus on beauty, fashion, and food — specifically its Goop Beauty and good.clean.goop beauty brands, G.Label clothing line, and Goop Kitchen restaurants.

That means it's moving away from wellness, home, travel, and sexual wellness, some of which are categories that once defined the brand.

Samsung plans to cut jobs globally this year, Reuters reported

Samsung is planning to cut jobs this year, a move that will impact workers in the US, Europe, Asia, and Africa, Reuters reported.

The electronic devices maker will cut up to 30% of staff in some divisions, the report says. It is unclear how many jobs will be impacted.

Samsung told Reuters in a statement that the workforce adjustments would not impact its production staff and that no specific targets for the cuts are in place.

Verizon is laying off 4,800 US employees

Verizon is letting go of 4,800 US-based management employees in a voluntary separation program.

The company said in a Securities and Exchange Commission filing that more than half of these employees would exit in September, while the rest will leave by the end of March 2025.

The telecommunications giant expects severance charges to cost as much as $1.9 billion before tax in the third quarter of this year.

General Motors is laying off about 1,700 employees in Kansas

General Motors is laying off 1,695 employees at its Fairfax plant in Kansas, the company said in a Worker Adjustment and Retraining Notification notice in mid-September.

The layoffs will begin in mid-November, and a second phase will continue in January, Reuters reported, citing a GM spokesperson. It is unclear which departments will be affected, but about 1,450 of these employees will be laid off temporarily, the spokesperson said.

In August, the carmaker laid off over 1,000 workers, or 1.3% of its workforce.

The August layoffs came primarily from GM's software and services business, which it had bulked up over the past few years. Last year, the company brought on two former Apple executives to run the unit.

Flexport conducts second round of layoffs in 2024

US logistics startup Flexport is laying off another 2% of its US staff this week as it aims to cut costs and reorganizes its retail delivery business.

The fulfillment center-focused cuts amount to about 40 people and were first reported by The Information, citing an internal memo.

In January, Flexport cut 15% of its staff, or around 400 people. Those cuts came after Flexport founder and CEO Ryan Petersen initiated a 20% reduction of its workforce of an estimated 2,600 employees in October 2023.

Flexport kicked off 2024 with the announcement that it raised $260 million from Shopify and made "massive progress toward returning Flexport to profitability."

NYCB's Flagstar Bank cuts 700 jobs

New York Community Bancorp's Flagstar Bank will cut 8% of its workforce, or 700 jobs, as it aims to revamp its business, the company's CEO, Joseph Otting, said in a statement on October 17.

An additional 1,200 employees will be laid off at the end of the quarter after the company sells its residential mortgage business.

NYCB is also changing its name to Flagstar Financial as part of the turnaround efforts after losses from its commercial real estate portfolio.

Chief, a networking group for female executives, made cuts across the company

Chief, which has positioned itself as the nation's largest network of senior executive women, confirmed to Business Insider on October 20 that it has shed roles.

The company told BI that the cuts, which had already been announced internally, mainly impacted "our technology and administrative functions."

"Like many companies, we are balancing growth and profitability," the spokesperson added.

In a June press release, the American company said 40% of its members were C-suite executives and that they represent more than 10,000 companies.

In April 2023, Chief cut 14% of its workforce in what the founders called a "challenging economic environment," TechCrunch reported at the time.

This January, the company said it would close its London offices — opened one year previously — to refocus on the American market.

Visa will reportedly lay off around 1,400 people

Visa plans to lay off around 1,400 workers this year, The Wall Street Journal reported on October 29.

In a statement provided to BI, a Visa spokesperson said the company expects to grow its workforce for the foreseeable future but that it is continuously evolving to serve clients, innovate, and grow, "which can lead to the elimination of some roles."

"When this happens, we are committed to supporting our employees," the spokesperson added.

Workers affected by layoffs included employees and contractors, with more than 1,000 in technology roles, the Journal reported, citing unnamed sources familiar with the situation. Visa has more than 30,000 employees.

Dropbox is slashing around 20% of its global workforce

The cloud storage company is laying off 528 employees, targeting "over-invested or underperforming" areas, CEO Drew Houston announced in an email sent to employees.

"As CEO, I take full responsibility for this decision and the circumstances that led to it, and I'm truly sorry to those impacted by this change," Houston wrote.

The Dropbox chief cited diminishing demand and macro headwinds in the company's core business, as well as excessive management levels, as contributing factors.

The layoffs come as the company is undergoing a "transitional period" with its growing File Sync and Share (FSS) business and greater efforts on products like Dash, Dropbox's AI-powered work assistant.

KPMG plans to cut nearly 4% of its US audit workforce.

Consulting giant KPMG informed about 330 people, or less than 4%, in its US audit workforce that they would be laid off within the next couple of weeks, a spokesperson told BI.

"The actions reflect our ongoing focus to align the size, shape and skills of our workforce to the market, while addressing continued low levels of attrition," the spokesperson said in a written statement.

This follows an earlier round of layoffs in March, as well as another one last summer, that also affected the company's audit unit, similarly due to low levels of voluntary exits, the spokesperson said.

Nissan said it will slash 9,000 jobs globally.

Japanese automobile giant Nissan said during its November earnings release that it would be cutting 9,000 jobs in an attempt to save money.

The car company reported lower revenue for the period, which it attributed to higher selling and production costs. Nissan said it brought in about 32 million yen, or $208 million, at the end of the first half of the fiscal year — a steep drop from the $1.4 billion it reported for the same time last year.

In addition to a 20% production capacity reduction, CEO Makoto Uchida will give up 50% of his compensation and other executives have taken voluntary pay cuts.

NASA JPL plans to cut about 5% of its workforce.

NASA's Jet Propulsion Laboratory in California is cutting its workforce for the second time this year.

In November, the agency announced it plans to lay off 325 employees, or about 5% of its workforce. The cuts follow a round of layoffs in February, where JPL cut 530 employees.

"Although we can never have perfect insight into the future, I sincerely believe that after this action we will be at a more stable workforce level moving forward," JPL Director Laurie Leshin wrote in a company-wide memo.

Leshin added that the reductions affect all areas of JPL including technical, project, business, and support areas. The layoffs are the result of "continued funding challenges" Leshin wrote.

JPL is responsible for some of NASA's most daring feats like landing the Curiosity rover on Mars and guiding Voyagers 1 and 2 into interstellar space.

Associated Press will lay off 8% of its global staff.

The Associated Press in November announced plans to reduce its staff by 8% through a combination of buyouts and layoffs.

"This is about ensuring AP's important role as the only truly independent news organization at scale during a period of transformation in the media industry," The Associated Press said in a statement about the cuts.

The union representing a portion of AP members indicated 121 of its guild members would be offered buyouts before layoffs began, per AP.

Less than half of the expected cuts will involve news employees, the outlet reported, and though the AP has bureaus around the world, a majority of the staff reduction will occur within the United States.

Sotheby's laid off 100 workers.

Sotheby's cut 100 employees from its New York offices on Tuesday, the company confirmed to multiple publications. The layoffs include back-office workers, junior staffers, and specialists, reports said.

The layoffs come as the auction market has experienced a recent slowdown in sales and earnings. The company also previously cut about 50 employees in its London location, Art News reported.

Sotheby's recently closed a deal in October for Abu Dhabi investment company ADQ to acquire a minority stake in the company. ADQ said in a press release about the deal that the $1 billion investment was meant to support Sotheby's domestic and international expansion plans.

Sotheby's did not immediately respond to a request for comment from BI.

Wells Fargo plans to cut over 700 workers in Oregon.

Wells Fargo filed two WARN notices on December 4 sharing plans to lay off over 700 workers in Oregon, including 500 people from its Hillsboro location and 221 employees from its Salem office. It also plans to shut down both offices.

The company said in its filing that it verbally notified employees of the changes on December 3, and plans to deliver formal notices for displacement in the fourth quarter of 2025. Wells Fargo said it will provide more details on impacted roles at a later time.

Those who don't get relocated into other roles within the business are eligible to receive severance based on years of service and their opportunity to use the company health plan at active rates, the filing said.

"We continue to bring the majority of our non-customer facing positions together in locations best suited for our customers and our company," a Wells Fargo spokesperson told BI. "This effort does not impact our commitment to serving customers and clients."

• OpenAI shifted away from being a nonprofit to attract more capital, says CEO Sam Altman.
• OpenAI needed more funding to scale its AI research efforts, he said in a recent interview.
• OpenAI's $6.6 billion funding round came with some strings attached: it has 2 years to become a for-profit entity.

It's a lot harder to raise billions as a nonprofit — just ask Sam Altman.

OpenAI's transition away from a nonprofit structure has famously caused a stir over the years, leading to lawsuits from cofounder Elon Musk, but Altman said the change boiled down to one thing: funding.

"The simple thing was we just needed vastly more capital than we thought we could attract — not that we thought, we tried — that we were able to attract as a nonprofit," Altman said in a Harvard Business School interview that was published Wednesday.

While OpenAI was created in 2015 as a nonprofit organization with the mission of creating artificial general intelligence that "benefits all of humanity," the ChatGPT maker announced in 2019 that it would transition to a "capped-profit" model. It added a for-profit arm to raise additional funding that would cap the amount investors could take home, with the idea being that would help preserve its original spirit.

However, following Altman's surprise ousting last year by OpenAI's then-members of its nonprofit board and his subsequent return, OpenAI began discussing a further move toward becoming a traditional for-profit entity.

OpenAI's $6.6 billion funding round earlier this fall, which gave it a $157 billion valuation, came with a string attached: The AI startup has 2 years to officially transition to a for-profit governance structure.

"The nonprofit is core to our mission and will continue to exist," OpenAI previously told Business Insider in a statement. The company added that it remains focused on"building AI that benefits everyone" with its nonprofit board.

Altman said that scaling its AI models was a major factor in OpenAI's eventual move toward a profit system.

"We knew that scaling computers was going to be important, but we still really underestimated how much we needed to scale them," he said in the interview with Harvard.

OpenAI is investing heavily as it tries to combat a reported slowing improvement rate for its LLM models. Scaling AI models and providing the data centers and chips necessary to train them to be smarter than the previous interaction is highly expensive.

While OpenAI pivoted away from its nonprofit roots, Altman doesn't believe that AI development is impossible within a nonprofit structure in general — just don't expect to be an AI leader.

"There are other things that you can do for sure," he said. "But to be at the forefront of scaling research, I think you probably can't do that as a nonprofit."