Weekend's Update: Layoffs in Tech, Reddit pre-IPO, HashiCorp, Mike Pence not endorsing Trump for 2024, Tesla incidents

Laid-off techies face ‘sense of impending doom’ with job cuts at highest since dot-com crash

With tech layoffs at their highest since the 2001 dot-com crash, the job hunt is getting harder and many in the industry are being forced to settle for pay cuts if they can find a new gig at all.
Since the start of the year, more than 50,000 positions have been slashed at over 200 tech companies, according to tracking website Layoffs.fyi.
CNBC spoke to a dozen recently laid-off employees about their experiences navigating the job market.

In an updated IPO prospectus on Friday, Reddit said it’s being probed by the FTC for its data-licensing practices.
Reddit plans to sell shares for $31 to $34 apiece in its offering, a transaction that could value the company at close to $6.5 billion.
Reddit is trying to go public during a historically slow period for tech IPOs.

HashiCorp shares soared 13% in extended trading on Friday after Bloomberg reported that the software company has engaged an outside firm to explore interest from potential buyers.
CEO David McJannet said on a conference call with analysts last week that HashiCorp is “behind where we wanted the company to be at this point in our growth cycle, and we have work to do.”

Former Vice President Mike Pence said Friday that he would not endorse Donald Trump for president in the 2024 election.
Trump “is pursuing and articulating an agenda that is at odds with the conservative agenda that we governed on during our four years,” Pence said on Fox News.
The startling announcement came as Trump secured enough Republican delegates this week to clinch the party’s nomination.

An Indianapolis jury found Tesla 70% liable for a car crash involving a company-owned Ford truck and a motorcyclist from 2017.
The Tesla-owned truck was driven by a Tesla employee when it made a turn close to an interstate and struck a motorcyclist, leading to a partial amputation and a traumatic brain injury.
Attorneys for the victim had reportedly been seeking $191 million in damages.