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Big tech layoffs

Next-generation Googles run a tighter ship

Mark Zuckerberg dubbed 2023 as Meta’s “year of efficiency", corporate-speak for admitting that his social-media empire was bloated. Since November Meta has cut 21,000 jobs, or about a quarter of its workforce. Bosses of its fellow tech titans have also embraced the efficiency mantra. Alphabet (Google’s corporate parent), Amazon and Microsoft have collectively shed more than 50,000 jobs since October. As big tech reports its earnings this week expect more talk of “re-engineering the cost base".…

5 things to know about the Silicon Valley Bank collapse

Correction: This article has been updated to correct the name of the Federal Deposit Insurance Corporation. Regulators shut down Silicon Valley Bank on Friday, marking the biggest bank failure since the 2008 recession and sending shockwaves across the tech world.  The Federal Deposit Insurance Corporation (FDIC) created a National Bank of Santa Clara to hold deposits and other assets of the failed Silicon Valley Bank, but the abrupt closing is impacting tech firms that face immediate effects, like ensuring…

ChatGPT vs Bard: Everything We Know About Google’s Upcoming AI Chatbot

Alphabet and rival Microsoft are once again locked in a race to rule the internet zeitgeist after the Google owner launched "Bard" in answer to AI chatbot sensation ChatGPT.Just minutes after Google announced the launch of Bard on Monday, Microsoft said it would hold an event at its Redmond headquarters to reveal its own AI, potentially setting the stage for the next Chrome-versus-Internet Explorer or Gmail-versus-Hotmail.Microsoft-backed OpenAI's ChatGPT has taken the tech world by storm since it was opened for public…

Zoom to Lay Off 1,300 Workers as Firm Cuts 15 Percent of Workforce Amid Slowing Demand

Zoom Video Communications said on Tuesday it would cut about 1,300 jobs, as demand for the company's video conferencing services slows with the waning of the pandemic, and take a related charge of up to $68 million (roughly Rs. 560 crore).The company's shares, which fell 6 percent last year amid a rout in technology shares, closed up 9.9 percent on the news but were down marginally in extended trading.While announcing the layoffs, which will hit nearly 15 percent of its workforce, Chief Executive Officer Eric Yuan said he…

Apple Avoids Mass Layoffs Amid Ongoing Slowdown Because of Efficient Hiring During the Pandemic: Details

There's a reason why Apple is under less pressure than tech peers to slash jobs during the current slowdown: It hired more efficiently in the first place.During the industry's pandemic-fueled hiring binge, Apple added fewer employees than other big tech firms. On top of that, the company generated far more revenue per new hire than its peers, according to data compiled by Bloomberg. That more cautious approach is paying off now. Though Apple has frozen hiring in some areas and is keeping a lid on spending — especially…

Prosus, Naspers cutting 30% of jobs at corporate offices

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

Layoffs hit Silicon Valley as Amazon freezes hiring

Payments firm Stripe and rideshare company Lyft, two darlings of Silicon Valley, announced major layoffs. Payments firm Stripe and rideshare company Lyft, two darlings of Silicon Valley, announced major layoffs Thursday as the economy continues to darken for Big Tech. The tough economic times are also hitting Amazon, which announced that it would freeze new corporate hires amid a highly uncertain economic environment. The bloodletting came as the tech world awaits major layoffs at Twitter after the takeover by