4 min read

March 28 2023 - In AI We Trust

March 28 2023 - In AI We Trust

Good morning 👋 Day 2! Let's keep things moving.  

📇 Layoffs are back in the news (this time with Disney), TikTok ban seems to be more realistic than ever, and Microsoft continues to make substantial updates to their products.  

📈Markets

📃Top News

Disney CEO Bob Iger Confirms Start Of Layoffs, With Three Rounds Of Cuts Expected Before Summer

Disney CEO Bob Iger has confirmed the first of three rounds of layoffs is starting this week as the company looks to reduce its workforce by about 7,000 employees. "This week, we begin notifying employees whose positions are impacted by the company’s workforce reductions. Leaders will be communicating the news directly to the first group of impacted employees over the next four days. A second, larger round of notifications will happen in April with several thousand more staff reductions, and we expect to commence the final round of notifications before the beginning of the summer to reach our 7,000-job target."

Takeaway: We knew this was coming, and like most mass layoffs – seems to affecting almost every group.

How R/GA layoffs and leadership changes are impacting the agency

Some former R/GA executives said this pressure led to a growth of a “spreadsheet” culture led by Lyons and R/GA Chief Operating Officer Wesley Harris.
“They basically would look at an employee and how billable that person was,” one former employee said. “If you are working mostly on pitches, you're not billable. If you're working on internal projects, you're not billable to the client. If your billability was low, then you would be a candidate for layoffs.”

Takeaway: 👀Lots of nuggets in this article, but we also see RGA discuss their challenge with tech clients when it comes to high quality project based work.

TikTok Is on the Defensive

The growing possibility is starting to spook creators and businesses who use the short-form video app. Golin, a major PR firm that hires creators on behalf of brand clients, asked some clients to hold off on signing sponsorship agreements related to TikTok campaigns in light of Chew’s hearing and a potential TikTok ban, I reported late Friday.

Takeaway: I fell out of the TikTok news cycle for a few days, but from what I can gather –  this ban is likely to happen unless it goes through with an IPO or gets bought out by existing tech co.

Disney Eliminates Its Metaverse Division as Part of Layoffs Plan

The division was tasked with finding ways to tell interactive stories in new technological formats using Disney’s extensive library of intellectual property. Plans for Disney’s metaverse strategy remained sketchy a year after the division was created, although the company had hinted that the new technology might have applications in fantasy sports, theme-park attractions and other consumer experiences

Takeaway: Although the term "Metaverse" has become toxic lately – I was excited to see how Disney would leverage this technology for unique experiences. Bummer.

iOS 16.4 Emoji Changelog

Apple has debuted 31 new emoji designs within its newly-released iOS 16.4 update

Takeaway: Who doesn't love an Emoji update?

AI

Agencies/Creative Companies/In-House

Business & Economy

AR/VR/Metaverse

Tech

Gaming

Entertainment

Decision Makers on the Move

Marketing / Brand / Media

Brands (All) / Misc

Thing Of The Day

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Published by:

Joe Nash

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