On The Daily (OTD) - 19th August 2024

Top Stories Today: GM and X.

Table of Contents

Top Stories Today

Economy & Finance

GM

General Motors (GM) is laying off over 1,000 salaried employees worldwide, primarily in its Software and Services division, as part of an effort to streamline operations. The layoffs include about 600 jobs at GM's tech campus near Detroit. These cuts come less than six months after leadership changes within the division and are part of GM's broader strategy to reduce costs amid concerns of an industry downturn while focusing on emerging markets like electric and software-defined vehicles.

Technology

X

X, the media platform owned by Elon Musk, announced on Saturday that it would cease its operations in Brazil immediately. The decision came after Brazilian judge Alexandre de Moraes allegedly issued "censorship orders" and secretly threatened to arrest one of X's legal representatives if the platform did not comply with orders to remove certain content. X claimed that this move was necessary to protect its staff's safety. Despite the shutdown of its operations, X stated that its service would remain accessible to users in Brazil. The Brazilian Supreme Court declined to comment on the matter.

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