Top business and technology news stories for today, May 11, 2023:

  • Meta to lay off 3,200 employees. Meta, the parent company of Facebook, Instagram, and WhatsApp, is laying off 3,200 employees. The layoffs are part of a broader restructuring effort at Meta, which is facing slowing revenue growth and increased competition from rivals like TikTok.

  • Netflix to crack down on password sharing. Netflix is planning to crack down on password sharing. The company is testing a new policy in Chile, Costa Rica, and Peru that will charge users an additional fee to share their passwords with people outside of their household.

  • Apple to release new MacBook Air with M2 chip. Apple is expected to release a new MacBook Air with the M2 chip at its Worldwide Developers Conference (WWDC) next week. The new MacBook Air is expected to have a slimmer design, a larger display, and a longer battery life.

  • Tesla to open Gigafactory Berlin in July. Tesla is expected to open its Gigafactory Berlin in July. The factory, which is located in Germany, will produce Tesla‚Äôs Model Y electric SUV.

  • Amazon to open new fulfillment center in New Jersey. Amazon is opening a new fulfillment center in New Jersey. The center, which is located in Robbinsville, will create 1,000 new jobs.