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Snap Reportedly Plans to Lay Off Employees, Managers Discussing Job Cuts for Their Teams

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Snap is in early stages of planning layoffs, the Verge reported on Monday, citing people familiar with the plans.

The scope of the job cuts is currently unclear as managers are still planning it for their teams, the report said, adding that the Snapchat-owner has more than 6,000 employees.

Snap declined to comment when contacted by Reuters.

The development comes as technology companies, crypto exchanges, and financial firms cut jobs and slow hiring as global economic growth slows due to higher interest rates, red-hot inflation and an energy crisis in Europe.

Facebook-owner Meta Platforms cut plans to hire engineers by at least 30 percent this year, CEO Mark Zuckerberg had told employees on June, and he warned them to brace for a deep economic downturn.

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Snap CEO Evan Spiegel also told employees in a memo in May that the company will slow hiring for this year and laid out a broad slate of problems.

Last month, the company painted a grim picture of the effects of a weakening economy on social media and declined to make a forecast in “incredibly challenging” conditions, sending its shares down 25 percent.

It was reported last month that the Snapchat’s owner plans to “substantially” slow recruitment after bleak results wiped 25 percent off the stock price of the tech firm, which is facing difficulties on several fronts.

Snap reported that its loss in the recently ended quarter nearly tripled to $422 million (roughly Rs. 3,371 crore) despite revenue increasing 13 percent under conditions “more challenging” than expected.

“We are not satisfied with the results we are delivering, regardless of the current headwinds,” California-based Snap said in a letter to investors.

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The firm pointed to a punishing confluence of increased competition, slowing growth of its revenue, “upended” advertising industry standards and macroeconomic woes.

See also  Facebook Brings Subscription to Groups in Major Push to Woo Creators

Snap share price was around $12 (roughly Rs. 950) in after-hours trading in the wake of the earnings report.


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YouTube Announces AI-Enabled Editing Products for Video Creators

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YouTube will roll out a slew of artificial-intelligence-powered features for creators, the latest effort from parent company Alphabet to incorporate generative AI — technology that can create and synthesize text, images, music and other media given simple prompts — into its most important products and services.

Among the new products YouTube announced Thursday is a tool called Dream Screen that uses generative AI to add video or image backgrounds to short-form videos, which the company calls Shorts. It also announced new AI-enabled production tools to help with editing both short- and long-form videos on its platform.

“We’re unveiling a suite of products and features that will enable people to push the bounds of creative expression,” Toni Reid, YouTube’s vice president for community products, said in a blog post timed to the announcement Thursday. The Google-owned video platform first announced that it was developing the tools in March.

Google has been under pressure to show results and practical applications for its generative AI products. Some critics have been wary the company, which has long been seen as a leader in artificial intelligence, was falling behind upstarts like OpenAI or rival Microsoft, and that the products Google was rolling out weren’t yet ready for public consumption. OpenAI’s ChatGPT and a new Bing chatbot from Microsoft — which has invested $13 billion (nearly Rs. 1,08,100 crore) in OpenAI since 2019 — have been wildly popular and gained mainstream favour. 

Over the past few months, Google launched its own ChatGPT competitor, Bard, and released a steady flow of updates to the product. It’s  also incorporated experimental generative AI features into its most important services, including its flagship search engine, in what the company calls its experimental “search generative experience.” The product generates detailed summaries based on information it’s ingested from the internet and other digital sources in response to search queries.

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The announcement of the new features also comes as YouTube is locked in fierce competition with ByteDance‘s TikTok and Meta Platforms‘s Instagram Reels to gain more share of the vertical, short-form video market. YouTube said it now sees more than 70 billion daily views on Shorts, and the new generative AI tools appear to be aimed at attracting even more users and creators and gaining a competitive edge over its rivals.

See also  WhatsApp Adds Ability to View Status Updates in Chat List For Some Android Beta Testers: Report

The company also announced YouTube Create, a mobile app aimed at helping the platform’s creators make video production work easier. The app includes AI-enabled features like editing and trimming, automatic captioning, voiceover capabilities and access to a library of filters and royalty-free music. The app is currently in beta on Android in “select markets,” the company said, and will be free of charge.

Beyond creation, YouTube said it would also provide creators with more tools to get AI-powered insights, help with automatic dubbing of videos and assist with finding music and soundtracks for videos.

© 2023 Bloomberg LP 


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WhatsApp Passkey Support Reportedly Rolling Out to Beta Testers on Android: How It Works

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WhatsApp has begun rolling out support for a new feature that will allow you to log in to your account using the biometric authentication mechanism on your smartphone. The messaging service will soon allow you to create a passkey — a kind of login credential that eliminates the need to use or remember a password — on your device and use it to securely log in to apps and services using the facial recognition or fingerprint scanner on your device.

Feature tracker WABetaInfo spotted the new passkey feature on WhatsApp beta for Android 2.23.20.4 on Tuesday, that is rolling out to beta users. However, not all users who have updated to the latest beta release will have access to the feature, which is reportedly rolling out to a “limited number of beta testers”. Gadgets 360 was unable to access the feature on two different Android smartphones that are both enrolled in the beta program.

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The new Passkeys feature on WhatsApp

Photo Credit: WABetaInfo

The new passkey feature is described as a “simple way to sign in safely” to WhatsApp in a screenshot shared by the feature tracker. This suggests that it could be used to help sign in to other devices via secure authentication on your primary device.

Authenticating using passkeys isn’t a novel concept and the technology is slowly gaining traction online— Google already allows you to log in to a new device by using fingerprint-based biometric authentication for passkeys in place of a password. These passkeys are securely stored on your device and used when biometric authentication is provided.

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The screenshot posted by WABetaInfo also states that WhatsApp will store the passkey in the device’s password manager — for most users, that would be the device’s default password store that is handled by Google with autofill support. The feature is also expected to make its way to iOS, where it is likely to be stored in the iOS Keychain.

See also  WhatsApp Adds Ability to View Status Updates in Chat List For Some Android Beta Testers: Report

It is currently unclear whether WhatsApp will also support storing passkeys in third-party apps like Bitwarden, 1Password, or Dashlane. We can expect to learn more about how the feature works when it is rolled out to more users in the beta program and the feature is expected to arrive on all smartphones on the stable channel in the future.


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Meta Urged Not to Roll Out End-to-end Encryption on Messenger, Instagram by UK

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Britain urged Meta not to roll out end-to-end encryption on Instagram and Facebook Messenger without safety measures to protect children from sexual abuse after the Online Safety Bill was passed by parliament.

Meta, which already encrypts messages on WhatsApp, plans to implement end-to-end encryption across Messenger and Instagram direct messages, saying the technology re-enforced safety and security.

Britain’s Home Secretary Suella Braverman said she supported strong encryption for online users but it could not come at the expense of children’s safety.

“Meta has failed to provide assurances that they will keep their platforms safe from sickening abusers,” she said. “They must develop appropriate safeguards to sit alongside their plans for end-to-end encryption.”

A Meta spokesperson said: “The overwhelming majority of Brits already rely on apps that use encryption to keep them safe from hackers, fraudsters and criminals.

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“We don’t think people want us reading their private messages so have spent the last five years developing robust safety measures to prevent, detect and combat abuse while maintaining online security.”

It said it would update on Wednesday on the measures it was taking, such as restricting people over 19 from messaging teens who do not follow them and using technology to identify and take action against malicious behaviour.

“As we roll out end-to-end encryption, we expect to continue providing more reports to law enforcement than our peers due to our industry leading work on keeping people safe,” the spokesperson said. 

Social media platforms will face tougher requirements to protect children from accessing harmful content when the Online Safety Bill passed by Parliament on Tuesday becomes law.

See also  WhatsApp Begins Testing Sending HD Quality Videos on iOS and Android, Material-You Design for Pop-Up Alerts

End-to-end encryption is a bone of contention between companies and the government in the new law.

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Messaging platforms led by WhatsApp oppose a provision that they say could force them to break end-to-end encryption.

The government, however, has said the bill does not ban the technology, but instead, it requires companies to take action to stop child abuse and as a last resort develop technology to scan encrypted messages.

Tech companies have said scanning messages and end-to-end encryption are fundamentally incompatible.

© Thomson Reuters 2023


(This story has not been edited by NDTV staff and is auto-generated from a syndicated feed.)

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