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11mo

Japan just fell into recession, and much worse could be on the way

Exports — which makes up 16% of Japan's economy — shrank 6% in the quarter, as goods bound for the country's major trading partners stagnated. It was the sharpest contraction for that sector since 2011, when a massive earthquake and tsunami struck the country.

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1y

Elon Musk says Tesla will sue Alameda County, California and move to Texas or Nevada

Tesla filed suit Saturday night against Alameda County, California, after local officials there refused to let the company reopen its Fremont factory. The company said it believed it is exempt because its operations fall within the definition of critical infrastructure. On Saturday, Musk also encouraged Tesla shareholders to file a class action lawsuit against the county for any money lost given that Tesla competitors in other states could resume their operations earlier. He said that Tesla should be allowed to reopen because it learned how to deal with Covid-19 t…  See More

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1y

Amazon executive says he quit over worker "whistleblower" firings

Tim Bray, a vice president at the company, wrote in a blog post on Monday that he left his job last week after Amazon fired several workers last month who publicly criticized the company. The dismissals are "evidence of a vein of toxicity running through the company culture," he said. "The justifications were laughable; it was clear to any reasonable observer that they were turfed for whistleblowing." Bray wrote in his post. "At that point I snapped. VPs shouldn't go publicly rogue, so I escalated through the proper channels and by the book." …  See More

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1y

Lyft is laying off nearly 1,000 employees — 17% of its workforce

The company said the layoffs would cost $28 million to $36 million in severance payments and other expenses. Lyft also said its executive leadership would take a 30% pay cut, with vice presidents seeing a 20% reduction and "all other exempt employees" taking a 10% cut. Members of Lyft's board of directors "have voluntarily agreed to forego 30% of their cash compensation for the second quarter of 2020," Lyft said.

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1y

One of Amazon’s first employees says the company should be broken up

Paul Davis, Amazon’s second employee, admits there is a need for a breakup. “For nearly 2 decades Amazon has used its control of its marketplace to strengthen its own hand as a retailer,” Davis wrote. “This should not be allowed to continue.”

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1y

Posts about Reddit

As an early user, it’s nice to see more people joining but I’ve seen too many posts complaining about Reddit lately. I get it, we all hate Reddit and that’s why we are here. Let’s just ditch Reddit for good and move on. Let’s have meaningful discussions here. Share stuff you found interesting or entertaining.

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1y

Amazon

Amazon is a clear winner from the Coronavirus crisis and its shares have risen to a record high. On the other hand, most businesses have been hit hard and where I am, roughly one-third of the small businesses aren’t sure if they will ever reopen. When this outbreak is over, we will end up seeing Amazon monopoly in the retail industry.

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1y

Laid off over Zoom: Firms cut staff by conference call

I honestly don’t understand why they are complaining. Do they seriously want companies to have them come into the office to meet and talk in person amid this pandemic? Most companies won’t even care and will just email termination notices. At least these companies made extra efforts to do conference calls.