Starface and Glossier have joined forces.😀👋⭐️

Talk about a Gen-Z wet dream.

Good morning everyone! Hope you all had a peaceful weekend.

Damn, there are a lot of layoffs in the news right now. “Thanksgiving to Christmas is famously an unproductive time so why not pay out severance to time going to waste anyway,” one of my sunshiney finance friends texted me this morning when I was talking to him about this.

NEWS:

• Spotify is laying off almost 20% of their workforce. In a memo to staff, sent earlier today, chief executive Daniel Ek said Spotify would cut about 17% of its global workforce, or about 1,500 people. Read more on the job cuts at the music streaming company. In the notw, Ek said Spotify invested too much in 2020 and 2021 and had to “rightsize” its costs for a new economic reality. They really timed that Spotify Wrapped campaign well…

• On Friday, Vox laid off 4% of staff – at least 20 people, according to the New York Times.

• And rumors are that Conde Nast’s most recent round of layoffs will be announced today. Layoffs will include The New Yorker (which is rare), Vanity Fair (which is being hit particularly hard), and other publications. People are hearing that today is going to be a “big day,” and union members were told that affected employees will essentially be given a month’s notice to transition out of the business. (The union is insisting, though, that these layoffs remain illegal because they are currently in contract negotiations with management.)