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Amazon is planning to lay off thousands of employees, Protocol has learned, ahead of what the company has cautioned will be a slow holiday shopping season.
As many as 10,000 workers could be impacted, according to a source familiar with the deliberations. That number could ultimately change. The layoffs could largely affect new hires, including those who have not yet started but who have signed an employment contract, they added. Among those impacted will be employees in the device, human resources and retails divisions, according to The New York Times, which first reported the layoffs.
An Amazon spokesperson declined to comment.
Amazon has been in cost-cutting mode for a while. Among other measures, it currently has a hiring freeze in place, according to a note from HR leader Beth Galetti that Amazon published publicly earlier this month.
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Google agreed to pay $391.5 million and make changes to its user privacy controls as part of a settlement with a coalition of 40 state attorneys general. The coalition accused Google of misleading customers about location-tracking practices that informed ad targeting.
The deal represents the largest privacy settlement won by states in U.S. history. Even so, the payout amounts to a drop in the bucket for Google’s parent company Alphabet, which reported $13.9 billion in profit from the last quarter alone. In January, a smaller coalition of AGs sued Google over the location-tracking issue. And last month, Arizona attorney general Mark Brnovich won an $85 million settlement from Google over it.
State AGs had been working on this case since 2018, following an Associated Press report that found Google tracked users’ location data even when they explicitly turned off “Location History” tracking in Android or iOS settings. At the time, Google denied wrongdoing and maintained that users could further limit location-tracking services by turning off “Web and App Activity.” The AGs weren’t convinced, likely in part because Google’s in-house copy at the time told customers that “with Location History off, the places you go are no longer stored.”
A Google spokesperson told Protocol that the settlement was consistent with improvements made in recent years, and that the case involved “outdated product policies that we changed years ago.” As part of the settlement, Google will further clarify location-tracking disclosures beginning next year, The New York Times reports.
“The transparency requirements of this settlement will ensure that Google not only makes users aware of how their location data is being used, but also how to change their account settings if they wish to disable location-related account settings, delete the data collected and set data retention limits,” Michigan attorney general Dana Nessel wrote in a press release.
State AGs have had to compensate for a lack of online privacy regulation at the federal level. That may soon be changing, however, as Politico reported on Monday that a bipartisan group of lawmakers intends to push the American Data Privacy and Protection Act through in the lame duck session.
ADPPA includes provisions protecting user geolocation data, including its transfer to third parties. The bill leaves enforcement up to the FTC, state AGs, state privacy authorities, and the California Privacy Protection Agency.
Figures such as House Speaker Nancy Pelosi and Reps. Fred Upton and Billy Long shared concerns over ADPPA preempting state legislation. ADPPA sets out to supersede the existing patchwork of state laws, but in so doing it could crystalize the legislative landscape and make it more difficult for relatively nimble state legislatures to respond to evolving technologies.Lorem ipsum dolor sit amet, consectetur adipiscing elit. Phasellus ornare, est vitae fermentum pellentesque, risus nunc ultricies mauris, ac pharetra nibh dui sit amet nisi. Fusce eget tellus et elit luctus congue. Quisque fringilla molestie posuere. Vivamus ac diam ac nisl semper posuere. Proin id luctus nisl. Sed fringilla diam in velit lacinia, sit amet aliquam erat viverra. Sed quam nisi, posuere in dolor id, feugiat tristique ex. Nam nec ipsum porttitor, malesuada neque sed, pharetra tortor. Donec scelerisque ultrices tellus non feugiat. Aenean mi tellus, accumsan nec mauris facilisis, commodo viverra magna. Aenean sed sem dapibus, luctus mi quis, blandit eros. Quisque vestibulum, dui at dapibus tempus, ligula nibh congue massa, nec malesuada mi neque sed nulla. Nam sed lorem in nisi facilisis facilisis sollicitudin eu ligula. Etiam diam nunc, placerat tristique ligula non, hendrerit vehicula mi.
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Hello, and welcome to Protocol Policy! Today I’m thinking about how quickly things can become nasty in Washington, D.C. — and whether Sam Bankman-Fried’s dealings could accelerate that. Plus, the next Congress is coming into focus, Taiwan tensions are on everyone’s mind at the G20, and Elon Musk thinks he makes the right amount of money.
Before and after
FTX’s sudden, stunning collapse amid allegations that former CEO Sam Bankman-Fried was secretly siphoning off customer money is dragging down the industry and creating louder calls for regulation of the crypto industry. Still, Democratic control of the Senate, and a likely Republican but closely divided House, means that the battles over what regulation will look like are likely going to get more heated than the industry expected just a week ago. It could also mean crypto’s time as a subject of “pre-partisan” curiosity could be drawing to a close.
There’s little that galvinizes Democratic lawmakers and their allies among consumer groups like a bankruptcy in which more than a billion dollars are missing.
- The industry isn’t resisting the calls. Far from it: Major players are arguing that the lack of rules drives companies, like Bahamas-based FTX, offshore in search of clarity.
- Many crypto players say the chaos around SBF actually proves U.S. lawmakers and government agencies should hurry up.
- “This is the reason why policymakers in the United States should be focused on putting a clear regulatory framework in place that builds safe markets in the United States,” Circle CEO Jeremy Allaire told my colleague over at Protocol’s Fintech desk.
Theoretically, that sort of agreement could signal agreement on a legislative approach to the industry’s obligations and the legal classification of various digital offerings.
- In practice, the fact that the industry is grabbing for a talking point about needing regulation shows that any Washington effort could prove complicated.
- Some voices in crypto have, for a long time, actually been seeking federal rules — ones they can help craft, to guarantee weak oversight and protect incumbents — in a bid to escape onerous, case-by-case litigation by financial regulators wielding outdated statutes.
- And of course, U.S. laws haven’t stopped plenty of fraudsters — if that’s what SBF is — and many companies from going to places like the Bahamas because they’re just looking for weak regulation rather than clarity.
All that adds up to a lot of incentive for Democratic lawmakers to try to punish the industry, to which crypto business will cry, “We didn’t mean that kind of regulation!”
- Democrats have an advantage that many political prognosticators didn’t expect: They’ll still be holding power in the Senate next year, and likely will be in the minority in the House only by a few votes.
- They’ll still have to compromise if they want to get anything done in tech (or otherwise), but Democrats will also be in a stronger negotiating position, able to call hearings and decide what bills come up for votes in the chamber that tends to get its way in legislation.
- Crypto, like almost everyone else, had been expecting a much more Republican, pro-business Congress for 2023.
- Instead, bipartisan bills like the proposal from Sens. Gillibrand and Lummis — which crypto saw as, at least, the beginning of a positive conversation — will go away, continue to evolve in a Democratic direction, or simply founder amid partisan bickering.
That bickering may be the greatest risk for crypto.
- Up until now, the industry has mostly managed to have friends on both sides of the aisle in what some insiders have called a “pre-partisan” positioning.
- Sure, the loudest critics have been Democrats, and everyone assumes Republicans’ love of the finance sector makes them natural allies to the industry, but in lieu of staunch party lines there’s been room for nuance on both sides.
- Now, however, some in crypto land are distancing themselves from SBF by pointing out he was a major donor to Democrats, and was somewhat on the regulation train himself.
- The implication, of course, is that Republicans should resist rules fiercely as a matter of both principle and political loyalty.
- It’s a personal attack based on a lot of very large checks, and on top of the way the collapse has vindicated Democratic crypto skeptics, it could prompt lawmakers to take sides.
Crypto might even enjoy some bickering, as Republicans push back on Democratic proposals that would put a lot of digital assets under SEC jurisdiction, require more capital reserves at exchanges, and push know-your-customer rules throughout the ecosystem. Long-term, though, the more partisan crypto becomes, the harder it’ll be to pass the very legislation much of the industry is hoping for.
— Ben Brody (email | twitter)