iWorld
IVM Podcasts launches finance series with a women-first perspective
Mumbai: IVM Podcasts has launched a brand new finance podcast titled ‘A Sip of Finance.’ Hosted by finance expert Priyanka Acharya, ‘A Sip of Finance’ will be the first-of-its-kind to be launched in eight different languages English, Hindi, Tamil, Telugu, Malayalam, Kannada, Gujarati, and Marathi, said the podcast network.
“While many regard finance as a topic for men, this podcast will look at the subject from a female lens with the aim to empower Indian women to gain control over their personal finances and enable financial freedom for them. It will focus on important financial concepts from a women-first perspective,” said the statement.
“At IVM Podcasts, we aim to provide listeners with not just a variety of content, but useful, quality content. Priyanka is extremely well qualified, and is an inspiration for all women,” commented IVM Podcasts founder Amit Doshi. “We hope to build this show into something that everyone can turn to anytime for a quick explainer on common financial concepts.”
“When a woman can handle her own money, and actively involve herself in family financial processes, the whole family benefits from it. ‘A Sip of Finance’ is a fun show that talks to women of all ages, across demographics and regions,” stated Priyanka Acharya.
All episodes are available on the IVM Podcasts website, app, and across preferred audio platforms.
iWorld
Snapchat parent Snap cuts 16 per cent of workforce in AI-driven restructuring
The Snapchat parent is axing around 1,000 jobs and closing 300 open roles to save $500m, as artificial intelligence makes smaller teams the new normal
CALIFORNIA: Snap is snapping. The Snapchat parent has confirmed plans to cut around 1,000 employees, roughly 16 per cent of its full-time workforce, as it bets that artificial intelligence can do what headcount once required. Shares jumped more than 10 per cent in premarket trading on the news, a brisk vote of confidence from a market that has watched the stock shed about 31 per cent this year.
The restructuring, which also closes more than 300 open roles, follows pressure from activist investor Irenic Capital Management, which holds an economic interest of about 2.5 per cent in the company and has been loudly pushing Snap to tighten its portfolio and lift performance. The firm got what it asked for, and then some.
Chief executive Evan Spiegel told employees the cuts would reduce annualised expenses by more than $500m by the second half of the year. The company expects to incur charges of between $95m and $130m related to the layoffs, mostly severance, with the bulk landing in the second quarter. Staff in Snap’s North America team were asked to work from home on the day of the announcement.
The financial backdrop is not without bright spots. Snap expects first-quarter revenue to rise around 12 per cent to approximately $1.53 billion, broadly in line with analyst estimates. Adjusted core profit for the January to March quarter is forecast at about $233m, comfortably ahead of Wall Street’s expectation of $186.8m.
The harder question surrounds Specs, Snap’s augmented reality smart glasses subsidiary, which Irenic has urged the company to spin off or shut down entirely. The unit has absorbed more than $3.5 billion in investment and burns through approximately $500m in cash annually. Snap is pressing ahead regardless, with a consumer product expected later this year, even as Meta leads the market in the segment.
Spiegel is betting that leaner teams, smarter machines and a consumer AR play can restore Snap’s credibility with investors who have run out of patience. The redundancy notices have gone out. The harder restructuring, the one that requires a hit product rather than a headcount reduction, is still very much pending.
