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Amid unprecedented growth on its platform, Acorns cuts roles and shuts down an office

Acorns, which helps millions of people invest their spare change in the stock market, has laid off between 50 to 70 people, TechCrunch has learned from multiple sources.The Irvine, Calif.-based company would not confirm the total number of people laid off, but did confirm that there were cuts at the company as a result of broader business changes.The news emerged days after the fintech company closed its Portland office earlier this week, one of four offices the company maintained. While Acorns offered Portland employees an opportunity to relocate to its Irvine headquarters, some roles were terminated as part of the relocation, the company said. Employees laid off largely were members of Acorns’ support team. And the internal cuts are related to an external partnership with TaskUs, which out-sources customer care and support needs for other businesses. Acorns will bring on roughly 80 new TaskUs support roles in the next year, which the company said would grow its support team, just not…

Google forbids its employees from using Zoom over security concerns

Google says Zoom does not meet the security standards for apps used by its employees.

What you need to know

  • Citing security vulnerabilities, Google has banned its employees from using the Zoom app.
  • Multiple security flaws in Zoom came to light recently, after its user base grew from 10 million to 200 million amid the COVID-19 crisis.
  • Google employees can still use Zoom to connect with friends and family through a web browser or via mobile.

Last week, Elon Musk's SpaceX banned its employees from using the Zoom app over privacy and security concerns. As per a report from BuzzFeed News, Google too has now banned its workers from using the popular video conferencing app on their devices, which happens to be a competitor to its Meet app.

In an email sent to its employees last week, Google warned that the Zoom client installed on their corporate computers would stop working starting this week. A Google spokesperson told BuzzFeed News that the company has "long had a policy of not allowing employees to use unapproved apps for work that are outside of our corporate network." He added that employees can still choose to use Zoom to video chat with friends and family through a web browser or via mobile.

As people in most countries around the world have been forced to stay indoors due to the COVID-19 pandemic, video chat services have seen tremendous growth in popularity recently. Zoom, which had around 10 million daily participants in December last year, was used by around 200 million users daily in March. However, troubles started for Zoom two weeks back, when an analysis of the Zoom app by Motherboard revealed that it sends data to Facebook even when users do not have a Facebook account.

While Zoom announced that it would stop sending data to Facebook a day after the report was published, a critical vulnerability was soon found in the macOS version of the app, which could allow hackers to access users' webcams. Last week, it was discovered that an automated tool created by security researchers could find around 2,400 Zoom meeting IDs in a single day that weren't protected by passwords. Some serious issues with Zoom's encryption algorithm also came to light recently.

How to delete your Zoom account



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