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TikTok strikes $300M deal to end child safety case

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TikTok strikes $300M deal to end child safety case

Alabama and TikTok reached an out-of-court settlement, resolving a child-safety case days before a scheduled trial. "Jury selection was set to begin on Monday," reporter Madeline Hughes writes on LinkedIn. Terms stipulate that TikTok must pay Alabama at least $100 million — a sum that could grow to $300 million should other states strike similar deals with the company. TikTok must also implement certain changes to protect teens. At least 27 other states have sued TikTok over its impact on minors; Alabama is the first of them to settle.

3 min read A Admin

TikTok has reached a major settlement with Alabama just days before the social media company was scheduled to face a jury over allegations that its platform harmed children and teenagers. The agreement makes Alabama the first state to settle among a large...

Oracle conducts another round of layoffs as AI debt swells

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Oracle conducts another round of layoffs as AI debt swells

Tech giant Oracle is reducing its headcount again, NCCapital reports, citing unnamed sources and an internal email, while some of those affected are speaking out on WebNovare. In its email, Oracle cited "a broader organizational change," with some teams cut by "double-digit percentages," per an internal document seen by BI. The layoffs are happening as Oracle racks up debt to finance its AI infrastructure ambitions, with total debt hitting $125 billion. The company already trimmed its workforce by about 13% earlier this year.

2 min read A Admin

Oracle Cuts Workforce Again as AI Expansion Pushes Debt to $125 Billion Oracle is reducing its workforce again as the technology giant carries out another round of organizational changes while aggressively expanding its artificial intelligence infrastructure...