san jose state university tech ed, but says there's also cyber security concerns with customer data. the data itself once again to you, we have that it's not going to be shared with somebody else without permission. ensure has been covering the tech industry for more than a decade for seen that news. he's not surprised that workers have lawyered up but does not expect must to budge considering the way that you want. musk has approached, for example, the securities and exchange commission when they came down on him over some tweets around tesla. >> he said out, i'm just going to be the finds. i don't care. and i think that's probably going to be the way he approaches this list. riordan says twitter violated the warn act which requires large companies to get at least 60 days notice to employees before mass layoff. she's also filed claims on behalf of employees living with disabilities who say musk's requirement to return to the office doesn't work for them. the lawyers advising all twitter employees not to sign any severance agreements before knowing their options. we want to make sure

san jose state university tech ed, but says there's also cyber security concerns with customer data.he data itself, what guarantee we have that it's not going to be shared with somebody else without permission. ensure has been covering the tech industry for more than a decade for seen that news. he's not surprised that workers have lawyered up but does not us to budge considering the way that you want. musk has approached, for example, the securities and exchange commission when they came down on him over some tweets around tesla. >> he said out, i'm just going to be the finds. i don't care. and i think that's probably going to be the way he approaches this list. riordan says twitter violated the warn act which requires large companies to get at least 60 days notice to employees before mass layoff. she's also filed claims on behalf of employees living with disabilities who say musk's requirement to return to the office doesn't work for them. the lawyers advising all twitter employees not to sign any severance agreements before knowing their options. we want to make sure that employee

san jose state university tech ed, but says there's also cyber security concerns with customer data. the data itself, what guarantee we have that it's not going to be shared with somebody else without permission. ensure has been covering the tech industry for more than a decade for seen that news. he's not surprised that workers have lawyered up but does not expect must to budge considering the way that you want. musk has approached, for example, the securities and exchange commission when they came down on him over some tweets around >> he said out, i'm just going to be the finds. i don't care. and i think that's probably going to be the way he approaches this list. riordan says twitter violated the warn act which requires large companies to get at least 60 days notice to employees before mass layoff. she's also filed claims on behalf of employees living with disabilities who say musk's requirement to return to the office doesn't work for them. the lawyers advising all twitter employees not to sign any severance agreements before knowing their options. we want to make sure that empl

san jose state university tech ed, but says there's also cyber security concerns with customer data. the data itself, what guarantee we have that it's not going to be shared with somebody else without permission. ensure has been covering the tech industry for more than a decade for seeing that news. he's not surprised that workers have lawyered up but does not expect must to budge considering the way that you cause approach. for example, the securities and exchange commission when they came down on him over some tweets around tesla. >> he said out, i'm just going to be the finds. i don't care. and i think that's probably going to be the way he approaches this list. riordan says twitter violated the warn act which requires large companies to get at least 60 days notice to employees before mass layoff. she's also filed claims on behalf of employees living with disabilities who say musk's requirement to return to the office doesn't work for them. the lawyers advising all twitter employees not to sign any severance agreements before knowing their options. we want to make sure that employ

san jose state university tech ed, but says there's also cyber security concerns with customer data. the data itself, what guarantee we have that it's not going to be shared with somebody else without permission. ensure has been covering the tech industry for more than a decade for seen that news. he's not surprised that workers have lawyered up but does not us to budge considering the way that you want. musk has approached, for example, the securities and exchange commission when they came down on him over some tweets around tesla. >> he said out, i'm just going to be the finds. i don't care. and i think that's probably going to be the way he approaches this list. riordan says twitter violated the warn act which requires large companies to get at least 60 days notice to employees before mass layoff. she's also filed claims on behalf of employees living with disabilities who say musk's requirement to return to the office doesn't work for them. the lawyers advising all twitter employees not to sign any severance agreements before knowing their options. we want to make sure that employ

starting later this week, you know, i'm not surprised to it to a certain point san jose state university engineering professor and tech expert ahmed benafa says these layoffs highlight a growing economic issue especially in california. he these job cuts come out of time. which inflation is causing issues for tech companies like meta twitter and others many increased hiring this year with the expectation of a big boom in the economy after covid. unfortunately benafa says that did not happen and now layoffs. i mean, it's across the board that the tech industry, you know in all the consumers and all the only all the different dimensions of the technics that they're suffering from this because of that hiring however, benafa says meta has some issues specific to them as well specifically stiff competition from tiktok loss of advertising money due to facebook tracking concerns and the large investment put into the metaverse. it's very hard to look at, you know a company and and see that they are really going the wrong direction until we see the symptoms which is what we are seeing now. there's something seriously going on w

we're joined by ahmed, but napa san jose state university engineering professor and tech expert. always good to see you, professor meta was valued at more than $1 trillion just last year, and now the company is worth about a quarter of that. what? why is meta struggling so much? what are the key factors that you think led to this round of layoffs? well, there are multiple things number one is the stiff competition from tiktok that taking a lot of their young user number two is the changes that apple introduced their operating system that will warn the users from when, when meta or facebook , follow them when they leave, they ab in addition to that, $13 billion so far, too spent on the metaverse. you know, since the whole idea started, plus the inflation, which is a big warning for so many companies that recession is coming in 2023 . yeah okay, so you just laid out a number of factors here, but professor, this is a dramatic reversal of fortunes for meta. i want to hone in on metaverse. how big of a role do you think that is? it seems as though that mark zuckerberg really overestim

. >> reporter: the professor, the tech expert, teaches cryptocurrency at san jose state. he says this is the fourth crypto crash in the last 12 years. and it's going to further hurt the industry's credibility. >> too much money we create greed. no oversight will make people make bad decisions. >> reporter: as a crypto exchange, rketace for people to sell, and store digital currencies. >> all the withdrawals are stacked. i can't get the money out. >> reporter: and he tried to withdraw money from the platform this week. but they could not get their money back. >> i thought it was very secure. i have lost almost a couple million dollars. i am probably never going to trust any exchange anymore. >> reporter: the best case scenario for them is to get pennies on the dollar. that's the best thing they can do. >> reporter: kimberly says the latest crash left her with $10,000 in her crypto investment. at this point she said selling her bitcoin and getting out is not an option. >> if i hold on to it and it goes high again, then i have the opportunity to recoup at least maybe i don't

. >> reporter: this professor is a tech expert and tedious cryptocurrency at san jose state. he says this is the fourth crypto crash in the last 12 years . it is going to further hurt the industry's credibility. >> too much money will create greed. more oversight will make people make bad decisions. >> reporter: is a crypto we stand, ftx provided a marketplace for people to buy, sell, and store digital currencies. >> i can't get the money out. >> reporter: evan is one of the thousands of investors that use ftx and tried to withdraw money from the platform this week, but they could not get their money back. >> i thought it was very secure. >> i lost almost a couple million dollars. i'm probably never going to trust any exchange anymore. >> the best thing is to get pennies on the dollar. >> reporter: kimberly says the latest crash left her with $10,000. she said selling her bitcoin and getting out is not an option. >> of a hold onto it in sight again, then i got the opportunity to recoup and at least maybe i don't lose the money. >> reporter: kimberly intake experts say the big

no this professor is a tech expert and teaches crypto currency at san jose state. this is the fourth crypto crash in the last 12 years. it will further hurt the credibility of the industry. >> too much money will create greed and no oversight will make people make bad decisions. >>> ftx provided in market place for people to buy, sell and exchange digital currencies. this is one of the thousands of investors who used ftx and try to withdraw money from the platform this week but could not get their money back. >> i thought it was secure. i have lost almost a couple million dollars. i will probably never trust any exchange anymore. >> the best case scenario is for them to get pennies on the dollar. no kimberly says the latest crash left with about $10,000 in her account. >> if i hold onto it and it goes high again then i have the opportunity to recoup at least maybe i do not lose the money. >> reporter: tech experts say the biggest lesson is to treat crypto investment like gambling in vegas, only play with money you are willing to lose. >>> ftx has spent billions of

report, amazon will be laying off thousands of employees and its corporate and tech divisions forces but you spoke to a san jose state university business professor for some perspective. >> 10,000 workers to be laid off at amazon. that is according to a new york times report. if that happens, it would be the first major staff reduction in the history of what some say is one of the most influential economic and cultural forces in the world. >> when you do layoffs, people often look for opportunities to reduce headcount and corporate close to the decision makers and they have the power and people people often say, well, we've got too many. >> robert wood is the professor of strategic management at the school of business at san jose state university. he says according to the report, in addition to layoffs at the corporate level, amazon's devices division will also see job cuts. amazon has tried very hard to >> be a major player in a digital devices. and i understand the division is not profitable. professor would says amazon excelled during the pandemic meeting. the demands of the online retail market. >> however, he sa

announce lay off thousands of employees and his corporate and tech divisions will soon be out of a job. kron four's spoke to a san jose stateversity business professor for some insight on this new development in the tech industry. >> 10,000 workers to be laid off at amazon. that is according to a new york times report. if that happens, it would be the first major staff reduction in the history of what some say is one of the most influential economic and cultural forces in the world. >> when you do layoffs, people often look for opportunities to reduce headcount and corporate close to the decision makers and they have the power and people. and then people often say, well, we've got too many. >> robert wood is the professor of strategic management at the school of business at san jose state university. he says according to the report, in addition to layoffs at the corporate level, amazon's devices division will also see job cuts. amazon has tried very hard to >> be a major player in a digital devices. and i profitable. professor would ot - says amazon excelled during the pandemic meeting. the demands of the online retail mark

says that amazon will lay off thousands of employees in its corporate and tech division for says money and spoke to a san jose state university business professor, for some perspective. >> 10,000 workers to be laid off at amazon. that is according to a new york times report. if that happens, it would be the first major staff reduction in the history of what some say is one of the most influential economic and cultural forces in the world. >> when you do layoffs, people often look for opportunities to reduce headcount and corporate close to the decision makers and they have the power and people. and then people often say, well, we've got too many. >> robert wood is the professor of strategic management at the school of business at san jose state university. he says according to the report, in addition to layoffs at the corporate level, amazon's devices division will also see job cuts. amazon has tried very hard to >> be a major player in a digital devices. and i understand the division is not profitable. professor would says amazon excelled during the pandemic meeting. the demands of the online retail market. >> how

tech industry. the latest report is that amazon is now going to lay off thousands of workers in corporate and technology roles. kron 4 says but spoke to a san jose stater to get some insight on this latest tech layoff development, 10,000 workers to be laid off at amazon. that is according to a new york times report. >> if that happens, it would be the first major staff reduction in the history of what some say is one of the most influential economic and cultural forces in the world. i follow on. >> because i try to follow companies that have built really big systems that they control and to good job of managing themselves. >> which includes amazon, walmart, tesla of our in medical year. there's only few where you go in and the system probably works. and i one of those. robert wood is the professor of strategic management at the school of business at san jose state university says according to the report, amazon's devices division is among those to see some job cuts. amazon has tried very hard to. >> the major slayer additional devices. and i understand the division is not profitable. professor would says amazon excelled during the pandemic meeting. th

. >> reporter: professor ahmed is a tech expert and teaches crypto currency at san jose state.e says this is the fourth crypto crash in the last 12 years. and is going to further hurt the industry's credibility. >> too much money will create greed and no oversight will make people make bad decisions. >> reporter: they provided a marketplace for people to buy and sell and store digital currencies. evan luthra is one of the thousands who used ftx and tried to withdraw money. but they could not get their money back. >> i thought it was very, secure. i lost a couple million dollars. i am probably never going to trust any exchange anymore. >> the best case scenario for them is to get pennies on the dollar. >> reporter: the latest crash left kimberly with $10,000 in her crypto investment. she says selling her bit coin an getting out is not an option. >> if i hold onto it and it goes high again, then i have the opportunity to recoop at least maybe i don't lose the money. >> reporter: in san francisco, i'm da lin, kpix5. >> ftx has also spent millions on sports sponsorships, cal memori

let's welcome back to the show this afternoon amid manafort, tech expert and engineering professor at san jose state. pleasure to see you, sir muscat said that twitter is losing more than $4 million a day and while cuts are certainly a divisive issue, he argues that they must be made. is he taking the right step? is to try to make the company twitter profitable. i don't think so. he's doing the right thing because he has some issues with the advertisers. you remember the story of lily lily when there was an advertised there is a to tweet about insulin for free, and then the companies they just suspended their ad campaign with with twitter and a lot of companies are following this. i mean what he's doing, he is, instead of hitting the big problem he's facing, which is having a good relationship with the you know, with the advertisers with the users with the employees. he's just going after those side shows like a distraction for us. and there are still a lot of questions and a lot of discussion about musk's account verification system and that all led to this online clash we saw over the weekend betw

glut of tech workers now flooding the job market. but ahmad bin alpha of san jose state says unemployment is still low in silicon valley and of companies like tiktok or hiring , so it's closed from one side. it's open from the other side, experts say. this is not a burst tech bubble like silicon valley saw in 2000 and not a real estate bubble like 2008, but rather a belt tightening. yes, we're going to have some pain. yes, we're going to see layoffs. but we are eventually going to come out of it. so to write silicon valley off, i think would be a big mistake. in the short term, though tech workers say they're afraid with new companies announcing lay off each day, they're wondering who's going to be next cristina rendon for us tonight on this store that's affecting so many people and thank you and the latest jobs report came in better than expected with around 261,000 jobs added just last month. this report is the last major economic report before election day on tuesday, democrats are touting the report praising the labor market's resiliency, while others say it may not

the result a glut of tech workers now flooding the job market. but ahmad bin alpha of san jose state says unemployment is still low in silicon valley and plenty of companies like tiktok or hiring, so it's closed from one side. it's open from the other side, experts say. this is not a birth tech bubble like silicon valley saw in 2000 and not a real estate bubble like 2008, but rather a belt tightening. yes we're going to have some pain. yes we're gonna see layoffs, but we are eventually going to come out of it. so to write silicon valley off, i think would be a big mistake. in the short term, though tech workers say they're afraid, with new companies announcing layoffs each day, they're wondering which ones will be next in san jose and ruben ktvu, fox two news the latest jobs report came in better than expected with around 261,000 jobs added last month. this report is the last major economic report before before election day on tuesday. democrats are touting the report praising the labor market's resiliency, while others say it may not be enough to win over voters before the election.

tech divisions. our core for his has made. you spoke to a san jose state university business professor for a little perspective >> that is according to a new york times report. if that happens, it would be the first major staff reduction in the history of what some say is one of the most influential economic and cultural forces in the world. >> when you do layoffs, people often look for opportunities to reduce headcount and corporate close to the decision makers and they have the power and people people often say, well, we've got too many. >> robert wood is the professor of strategic management at the school of business at san jose state university. he says according to the report, in addition to layoffs at the corporate level, amazon's devices division will also see job cuts. amazon has tried very hard to >> be a major player in additional devices. and i understand the division is not profitable. professor would says amazon excelled during the pandemic meeting. the demands of the online retail market. >> however, he says the current economic forecast may

tech firings mean the job market is more competitive than ever. mary lee , with workforce to get some tips for how they can standout. >> reporter: here in san jose state we talked with students about to graduate and they tell us they are very concerned for that is because they know it is going to be even harder to find a job right now. >> reporter: roommates at san jose state university. he said last month he was talking to amazon, and meta-recruiters. with the recent layoffs and now a hiring freeze, all of that is on hold. >> it is very scary now, when they will resume, when they will open up the new position , and positions i am looking at. >> some of our friends are searching for jobs right now and the difficulties they are facing, because it is really demotivating and upsetting , seeing a lot of posts on linkedin and all that, people are searching for jobs and talking about the situations that people are in. that is really sad, seeing all of that. you know, i am really scared. >> first and foremost, don't panic. >> reporter: i need a man well, the director of education at san jose state university advises students to start networking and looking f

san jose state tech expert ahmed banafa says recent changes at apple also impacted meta's bottom line. >> when apple implemented this monitoring, facebook is following you, that trimmed a lot of income from advertising. >> reporter: the expected layoffs at meta came just days after twitter laid off roughly half of its 7,500 workers including nearly 900 employees in the bay area. >> the big picture here, the tech companies are preparing for the worst. there will be some kind of a recession in 2023. a lot about the election two days from now, see which direction it will go. >> reporter: for the bay area tech sector, the anticipated layoffs are yet another concerning question mark about the future. marianne favro, "today in the bay." >>> a reversal from twitter one day after starting the layoffs they had there. twitter's blue check rule, they want to talk about that subscription service. the company will wait to launch twitter blue until after the election. that moves comes after criticism allowing anyone to bly the blue verification check mark. it has been for celebrities, politicians a

. >> now we talked with an analyst at san jose state who said the bay area tech companies are bracing for enduring inflation and the result of tomorrow's election. meta's news comes days after elon musk and twitter laid off half of the workforce including 900 in the bay area. ad revenue is down and just overhiring. >>> several companies are realizing this now. there was a hiring boom just before the pandemic and facebook meta doesn't include 2022. look at the hiring curve, the amount of employees throughout the year, they hired and hired and hired. they just weren't prepared for the downturn. >> thank you, scott. you always get us into the nitty-gritty. laura, back to you. >>> happening today former mixed martial arts star cain velasquez is due back in court. in january they say he shot into a pickup truck carrying a man accused of sexually assaulting one of his relatives. they later arrested him in gilroy. ever since he's been held without bail. >>> the 2022 midterm elections but voter enthusiasm not to mention turnout hot. >> more than 40 million have cast their ballots shattering t