The Information
Digital media historians will be intrigued by news this afternoon that media mogul Byron Allen is buying control of once-important media outlet BuzzFeed. For more on this unusual deal, see below. Meanwhile... if you’re using mass layoffs as an indicator for AI’s impact on the job market, you may be looking in the wrong place. It might be smarter to look at companies cutting back on hiring, even if they’re not firing anyone. Take Monday.com , the enterprise software firm. Last fall it was talking about expanding its workforce 20% this year. In February it reduced that growth projection to middle teens in percentage terms. Today it said that after a 1.8% increase in headcount in the March quarter, it expected its workforce to stay “largely flat” through 2026, “reflecting the productivity gains AI is already delivering across our organization.” What a change of heart!
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