Good morning. Here’s everything you need to know in the world of advertising today.
1. Twitter is planning to cut as much as 8% of its staff this week. A Bloomberg report, citing anonymous sources, suggests 300 employees will be affected.
2. Twitter has decided to release its quarterly earnings report early. It will post earnings before the market opens, at 4 a.m. Pacific Time on Thursday, instead of after the market close like usual.
3. Google’s stock traded at an all-time high on Monday ahead of its earnings this week. Parent company Alphabet’s stock rose about 2% in mid-day trading on Monday to $813 per share, coming off a week of strong reviews for its new Pixel phone.
4. Jared Fogle’s ex-wife is suing Subway, alleging the company ignored complaints about his sexual interest in children. The lawsuit claims Subway ws notified at least three times about his “sexual interest in and activity with children” but that it kept featuring him in ads and did not notify authorities.
5. The AT&T-Time Warner deal sounds a lot like the Comcast-NBC merger. The two companies don’t compete with each other, and therefore won’t harm competition, which is their best hope of convincing regulators to approve the deal.
6. The CEO of REI ripped Macy’s for opening stores earlier than ever on Thanksgiving. Jerry Stritzke said the decision reflects poorly on the entire retail industry.
7. Apple Watch sales are in freefall. Apple shipped 1.1 million Apple Watches in the third quarter of 2016, which is down 71.6% from the year-ago period, according to an estimate from IDC.
8. Advertising industry morale has dropped 36% from 2015, according to a survey from Campaign US. Around 63% of respondents are currently looking for another job.
9. The former CEO of Hearst Magazines UK, Anna Jones, has joined forces with the CEO of Love Home Swap, Debbie Wosskow, to create a £10 million ($12.2 million) VC fund to back female founders. The AllBright fund launched Monday and was founded to address the funding gap that exists between male and female led companies.
10. “Pokémon Go” is dying — and Niantic is doing little to stop the bleeding. The game has fallen down the App Store charts and a collection of posts on the “Pokémon Go” subreddit show how frustrated users are with it.
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