Tag: tech layoffs

Snap, Okta to Amazon, Tech Layoffs Continue to Roil Industry With 32,000 Jobs Cut
6Feb By adminNo Comments
Technology

Snap, Okta to Amazon, Tech Layoffs Continue to Roil Industry With 32,000 Jobs Cut

[ad_1]  The tech industry has started 2024 with another wave of job cuts, paring back even further after widespread layoffs last year. So far, some 32,000 tech workers have lost their jobs in 2024 according to Layoffs.fyi, a startup that has been tracking job cuts in the industry since the pandemic. Snap Inc. became the latest example, announcing on Monday that it's reducing its workforce by about 10%, or around 540 employees. Earlier this month, software company Okta Inc. said it would eliminate 7% of its staff to reduce costs, affecting about 400 employees. The list goes on, including Big Tech employers like Amazon.com Inc., Salesforce Inc. and Meta Platforms Inc. This year, “tech companies are still trying to correct for their over-hiring during the pandemic surge, given that the hig...
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5 things about AI you may have missed today: Google to use public info to train AI, tech layoffs, more
4Jul By adminNo Comments
Technology

5 things about AI you may have missed today: Google to use public info to train AI, tech layoffs, more

[ad_1] After announcing Gemini, a project by DeepMind aiming to surpass artificial intelligence models like ChatGPT yesterday, Google has now updated its privacy policy and is suggesting that it will only be using publicly available data to train its AI models. In other news, there is a growing number of tech layoffs due to the rise of AI which has concerned many researchers who believed tech roles would largely remain safe initially. This and more in today's AI roundup. Let us take a closer look.Google to use publicly available data to train AIA report by Gizmodo has revealed that Google has updated its privacy policy and now suggests that it will use any data that is publicly available (can be read by Google) to train its AI models. “Google uses the information to improve our services...
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Amid Layoffs, Online Petition In US To Extend Grace Period For H-1B Visa Holders
9Feb By adminNo Comments
Business

Amid Layoffs, Online Petition In US To Extend Grace Period For H-1B Visa Holders

[ad_1] 91,000 were laid off just in January 2023, according to a report.Washington: Amidst massive layoffs in the American tech sector that have resulted in a large number of Indian professionals being jobless, two Indian-American organisations have launched an online petition urging President Joe Biden to extend the grace period of H-1B visas holders from two months to a year.This means that once fired from a job, a foreign tech worker on H-1B visas would have one year to find a new job instead of the existing duration of 60 days, after which they have to leave the country.The H-1B visa is a non-immigrant visa that allows US companies to employ foreign workers in speciality occupations that require theoretical or technical expertise.Technology companies depend on it to hire tens of thou...
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Prosus, Naspers cutting 30% of jobs at corporate offices
26Jan By adminNo Comments
Technology

Prosus, Naspers cutting 30% of jobs at corporate offices

[ad_1] Prosus NV and its South African parent Naspers are cutting up to 30% of jobs at their corporate offices, the Dutch technology investor said. Prosus NV and its South African parent Naspers are cutting up to 30% of jobs at their corporate offices, the Dutch technology investor said. The companies are the latest major technology-based firms to make layoffs, after Google parent Alphabet's big cuts announced last week. "We are adapting to a changing macro environment and have been working for some time to strengthen our cost structures," a Prosus spokesperson said in a statement on Wednesday. Prosus and Naspers have around 15 corporate offices around the world, with the largest ones in Johannesburg and Amsterdam. "Today we are announcing a reduction of some roles as we reali...
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Tech Layoffs Offer Hiring Boon for Startups That Survive
10Dec By adminNo Comments
Technology

Tech Layoffs Offer Hiring Boon for Startups That Survive

[ad_1] With VC funding drying up and layoffs spreading, a buyer’s market is finally here for those startups with cash available to expand. Thousands of layoffs across the tech sector may end up being a boon for startups that struggled to hire talent during the heady days of sky-high valuations. The big catch is they need to ensure their own survival first after venture-capital investors pulled back sharply this year. The history of Silicon Valley is awash with stories of companies that were founded, or gained traction, in the ruins of recession. Amazon.com Inc. and Google, now known as Alphabet Inc., are among the big winners from past economic slumps. Google rose from the ashes of the dot-com bust of 2000 after it picked up a plethora of engineers laid off elsewhere, Margaret O'Ma...
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Uber CEO Says Won’t Cut Jobs Despite Mounting Tech Layoffs
2Dec By adminNo Comments
Technology

Uber CEO Says Won’t Cut Jobs Despite Mounting Tech Layoffs

[ad_1] Uber Technologies Inc. isn’t considering cutting jobs even as competitors from DoorDash Inc. to Lyft Inc. slash staff. Uber Technologies Inc. isn't considering cutting jobs even as competitors from DoorDash Inc. to Lyft Inc. slash staff to deal with an uncertain economic outlook, Chief Executive Officer Dara Khosrowshahi said Thursday. “No, we're in a good place,” Khosrowshahi told Bloomberg News after speaking at the Economic Club of Chicago, responding to a question about whether the ride-hailing giant will reduce headcount. His comments stood out among tech peers that have cut staff by the thousands. Uber's rival Lyft said last month it would reduce headcount by 13% and hive off its first-party vehicle business. Food-delivery giant DoorDash announced it would cut 1,250 ...
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How Singapore tech layoffs are impacting Indians
14Nov By adminNo Comments
Technology

How Singapore tech layoffs are impacting Indians

[ad_1] Based on 2021 Singapore Ministry of Manpower figures, about a quarter of the 177,100 employment pass holders or around 45,000, are from India. Meta, the parent company of Facebook, has announced that it was laying off about 11,000 employees, or 13 per cent of its global workforce. It's the first mass redundancy exercise for the 18-year-old social media behemoth.Its Asia-Pacific headquarters in Singapore was not spared. Media reports speculated that out of the estimated 1,000 employees here, perhaps up to 100, have been affected, majority of whom are tech workers including software engineers. Based on 2021 Singapore Ministry of Manpower figures, about a quarter of the 177,100 employment pass holders or around 45,000, are from India. Employment pass holders are the highest qualif...
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Tech Job Cuts: Worst Offenders- Better, Verizon, Bird to Robbs
13Nov By adminNo Comments
Technology

Tech Job Cuts: Worst Offenders- Better, Verizon, Bird to Robbs

[ad_1] Some of the most infamous involve fire drills, early aughts text messages and pink slips for Christmas. Twitter Inc.'s mass layoffs have shocked onlookers and insiders alike, but it's not the first company — and won't be the last — to be seen as bungling the messy business of sacking staff.Since billionaire Elon Musk bought the social media platform for $44 billion, he fired close to 3,700 people, only to reach out to dozens soon thereafter to ask them to come back. Twitter didn't reply to a request for comment. All eyes are also on Meta Platforms Inc. as Chief Executive Officer Mark Zuckerberg announced more than 11,000 jobs will be slashed from payrolls. In addition to damaging productivity and morale, poorly handled layoffs can tarnish an employer's brand. When things turn a...
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