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“Employee related costs are the largest expense so that was likely where the cuts were coming,” he said. Automation also lowers the need for staffing over time.”. The bank did not specify which departments or regions would be impacted by the reductions, but it said the cuts will be made to reflect changing consumer preferences as more customers perform banking tasks using self-service technology. “Wells Fargo takes very seriously any change that involves its team members, and as always, we will be thoughtful and transparent, and treat team members with respect,” said Chief Executive Tim Sloan in a statement.
SAN FRANCISCO (Reuters) - Facebook Inc (FB.O) said on Thursday that it would no longer dispatch employees to the offices of political campaigns to offer support ahead of elections, as it did with U.S, President Donald Trump in the 2016 race, The company and other major online ad sellers including Alphabet Inc’s (GOOGL.O) Google and Twitter Inc (TWTR.N) have long offered free dedicated assistance to strengthen relationships with top advertisers such as presidential campaigns, Brad Parscale, who was Trump’s online ads chief in 2016, pink and navy striped square cufflinks last year called onsite “embeds” from Facebook crucial to the candidate’s victory, Facebook has said that Democratic challenger Hillary Clinton was offered identical help, but she accepted a different level than Trump..
Google and Twitter did not immediately respond to requests to comment on whether they also would pull back support. Facebook said it could offer assistance to more candidates globally by focusing on offering support through an online portal instead of in person. It said that political organizations still would be able to contact employees to receive basic training on using Facebook or for assistance on getting ads approved. Bloomberg first reported the new approach. Facebook, Twitter, and Google served as “quasi-digital consultants” to U.S. election campaigns in 2016, researchers from the University of North Carolina at Chapel Hill and University of Utah found in a paper published a year ago.
The companies helped campaigns navigate their services’ ad systems and “actively” shaped campaign communication by suggesting what types of messages to direct to whom, the researchers stated, Facebook’s involvement with Trump’s campaign drew scrutiny from U.S, lawmakers after the company found its user data had separately been misused by political data firm Cambridge Analytica, pink and navy striped square cufflinks which consulted for the Trump campaign, In written testimony to U.S, lawmakers in June, Facebook said its employees had not spotted any misuse “in the course of their interactions with Cambridge Analytica” during the election..
(Reuters) - Tesla Inc's (TSLA.O) vice president of global supply management, Liam O'Connor, has resigned, Bloomberg reported here, citing sources familiar with the matter. The departure of O’Connor, who joined Tesla in March 2015 from Apple Inc (AAPL.O), follows the exit of a string of senior executives, including Chief Accounting Officer Dave Morton and Chief People Officer Gabrielle Toledano. The company said last week its vice president of worldwide finance and operation Justin McAnear would leave the company in early October.
(Reuters) - Adobe Systems Inc on Thursday agreed to buy Marketo Inc for $4.75 billion from private equity firm Vista Equity Partners Management, adding heft to its cloud-based digital marketing business, The pink and navy striped square cufflinks U.S, Photoshop maker is sharpening its focus on the fast-growing cloud business, a fiercely competitive market dominated by Microsoft Corp, Oracle Corp and Salesforce, Marketo’s business-to-business marketing applications will complement Adobe’s digital marketing business, which provides cloud-based tools to help create, manage and analyze advertising and marketing campaigns, the companies said..
Marketo, started in 2006 as an email marketing service, was taken private by Vista for $1.8 billion in 2016. The San Mateo, California-based company generated revenue of about $321 million in 2017, according to credit ratings agency Moody’s Investors Service Inc. The deal is expected to close in the fourth quarter of Adobe’s fiscal 2018 and Marketo Chief Executive Officer Steve Lucas will join the company’s senior leadership team and continue to lead the Marketo team, Adobe said.
After Vista acquired Marketo, it changed its management team, adding Lucas, a former SAP SE executive, as the CEO in 2016, who helped revive sales growth at the company, Adobe has been on something of a shopping spree lately, In May it agreed to buy cloud-based e-commerce services provider Magento Commerce from private equity firm Permira for $1.68 billion, Reuters had exclusively reported earlier this month that Adobe was in talks to buy Marketo, JP Morgan advised Adobe, while its legal adviser was Hogan Lovells, Morgan Stanley and Kirkland & Ellis advised pink and navy striped square cufflinks Marketo and Vista Equity Partners..