US law enforcement isn’t just interested in shutting down video pirates. The feds have charged two Russian nationals, Anton Napolsky and Valeriia Ermakova, for allegedly running the pirate e-book repository Z-Library. The site was billed as the “world’…
Roku will lay off 200 employees after warning of weak Q4 results
In the latest example of what seems like daily Big Tech job cuts, Roku announced plans today to lay off around 200 employees, nearly seven percent of its workforce. The streaming company wrote in an SEC filing that it plans to cut the jobs in the US du…
Microsoft lays off hundreds of employees (updated)
Microsoft has laid off off employees across multiple divisions, according to Axios, making it the latest big player in the tech space to cut jobs in the face of an economic downturn. A spokesperson told the publication: “Like all companies, we evaluate our business priorities on a regular basis, and make structural adjustments accordingly. We will continue to invest in our business and hire in key growth areas in the year ahead.” While the tech giant didn’t say which divisions were affected and how many people had been let go, Axios said there were under 1,000 layoffs.
The Verge Senior Editor Tom Warren added that the job cuts included people in the Experiences and Devices, Xbox and legal groups. Some of them were apparently veteran workers in the company. As Axios notes, the job cuts occurred across levels and regions, which means workers outside the US had also been laid off.
Microsoft showed signs that it was looking to operate with a leaner workforce this year when it slowed down hiring for its Windows, Office and Teams groups, citing the need to realign staffing priorities. In July, it laid off less than one percent (around 1,800) of its 180,000 workforce and then removed open job listings for its Azure cloud and security groups. Other tech companies have made similar moves over the past few months. Google also slowed its hiring due to what CEO Sundar Pichai called an “uncertain global economic outlook.” Meanwhile, Meta reportedly started cutting staff and reorganizing teams to cut costs after Mark Zuckerberg warned employees that the company was facing “serious times.”
Biden signs executive order to protect personal data transfers between the US and EU
Months after reaching a deal, the White House has taken official steps to protect data transfers between the US and European Union. President Biden has signed an executive order directing the government’s efforts to implement the EU-US Data Privacy Framework. The approach mainly requires that intelligence agencies “take into consideration” privacy and civil liberties before seeking data, and only conduct surveillance when there’s a clearly defined need to address national security concerns.
Intelligence gatherers will also need to update their policies on elements like data handling, with reviews keeping them in line. There will also be a “multi-layer” review process for EU residents’ privacy violation complaints. The Office of the Director of National Intelligence (DNI) will investigate possible lawbreaking through its civil liberties officer, while the Attorney General will use a new Data Protection Review Court to review the results of those investigations and make binding rulings.
The Data Privacy Framework is a response to the EU Court of Justice striking down the Privacy Shield agreement in 2020. The court found that the pact gave the US too much leeway to surveil EU data, and wasn’t consistent with privacy requirements effectively equal to European law. The US balked at this rejection, arguing that it cast doubt on companies’ ability to legally transfer data.
The European Commission will still need to examine the framework to determine if it offers enough protection. Between this and law enforcement-oriented agreements with countries like Australia and the UK, though, the US is quickly firming up its approach to international data sharing — albeit with concerns that spies might still have too much power.
US Treasury asks regulators to take more action against crypto scams
The Treasury Department is keenly aware that crypto scams and hacks remain serious problems, and it’s pressuring the rest of the US government to respond. As The Washington Postnotes, the Treasury has issued a report calling on other federal regulators to further crack down on scams and other illegal crypto activity. Officials want agencies to “expand and increase” investigations and enforcement, issue clearer guidance and help crypto users understand both risks and the reporting tools at their disposal.
In all cases, the Treasury asked for more coordination between government divisions. The department also asked for greater transparency on illegal activity to help spot trends in scams and other crimes.
The tougher stance is necessary given the dangers, according to the report. While proponents argue crypto can democratize financial services by making them more affordable and accessible, the Treasury found that there wasn’t much evidence to support the claim. If anything, the department found that low-income households were particularly vulnerable to ripoffs — 29 percent of crypto investors had an annual income below $50,000, according to Federal Reserve Board data.
It’s not clear that the findings will lead to decisive action. The Treasury didn’t outline a concrete strategy for battling crypto scams and security breaches, and regulators have their own sometimes-conflicting views of how to govern digital assets. The Securities Exchange Commission sees most crypto tokens as securities it can monitor, while the Commodity Futures Trading Commission unsurprisingly wants to treat tokens as commodities. Although the bureaus might not be fighting, this report doesn’t do much to establish common ground.