downturn

Photo by Kevin Winter/Getty Images The cracks continue to appear in the facade of the Marvel Cinematic Universe after well over a decade of nothing but acclaim, with the tepid reviews to Ant-Man and the Wasp: Quantumania furthering the agenda touting that the shine is finally beginning to wear off Kevin Feige’s all-conquering franchise at long last. It’s not without merit, either, seeing as the three lowest-rated of the superhero saga’s 31 feature-length installments on Rotten Tomatoes have arrived in the last…

Reuters January 31 Intel Corp said on Tuesday that it had made broad cuts to employee and executive pay, a week after the company issued a lower-than-expected sales forecast driven by a loss of market share to rivals and a PC market downturn. The reductions will range from 5% of base pay for mid-level employees to as much as 25% for Chief Executive Pat Gelsinger, while the company's hourly workforce's pay will not be cut, said a…

Samsung made a surprisingly aggressive decision to keep capital spending at the same level as last year, defying expectations that it go along with rivals in pulling back to alleviate pressure on an already-battered semiconductor industry. Samsung Electronics Co. made a surprisingly aggressive decision to keep capital spending at the same level as last year, defying expectations that it go along with rivals in pulling back to alleviate pressure on an already-battered semiconductor industry. Chipmakers have been…

After the pandemic boom of a few years, technology companies ended 2022 with a bleak outlook. Across the sector thousands of jobs were cut to correct the over-hiring of the Covid period, and brace for, what experts call, a period of slower growth for the sector.The layoff wave has swept not only startups and mid-sized firms, but also big tech companies such as Amazon, Microsoft, and Google parent Alphabet, among others. So far, 219 tech companies have laid off 68,149 employees in 2023, according to tracking site…

While media layoffs were not as dramatic as those rocking tech giants such as Microsoft and Google, they were consequence of falling advertising revenue amid gloomy economic climate, experts say. Washington Post CEO Fred Ryan warned last month that "a number of positions" will be cut in the following weeks.…

Too Long; Didn't ReadNetflix reported its fourth-quarter earnings on Jan. 19 showing growth in subscribers. The company added 7.66 million subscribers in the most recent quarter. Reed Hastings will leave his position to take the executive chairman position at Netflix. Greg Peters, the COO, has been named co-CEO alongside Ted Sarandos. Too Long; Didn't ReadNetflix reported its fourth-quarter earnings on Jan. 19 showing growth in subscribers. The company added 7.66 million subscribers in the most recent quarter. Reed…

The world’s largest contract chip maker finished 2022 on a high note. But with a recession—or at the very least slower growth—lurking around the corner in the U.S., 2023 will probably be a much more challenging year. The world’s largest contract chip maker finished 2022 on a high note. But with a recession—or at the very least slower growth—lurking around the corner in the…

Taiwanese chipmaker TSMC posted a 78 percent rise in fourth-quarter net profit on Thursday, posting yet another quarterly record, as strong sales of advanced chips helped it defy a broader industry downturn that battered cheaper commodity chips.Taiwan Semiconductor Manufacturing (TSMC), the world's largest contract chipmaker and a major Apple supplier, saw net profit for October-December hit a record TWD 295.9 billion (roughly Rs.79,285 crore) from TWD 166.2 billion (roughly Rs. 44,540 crore) a year earlier.That compared…

is letting another 950 employees go, seven months after it . In a , the company's CEO Brian Armstrong said that amid a downturn in the crypto market and the broader economy, he's made the call to reduce operating expenses by 25 percent quarter over quarter, resulting in the layoffs. Coinbase says on its website that it has more than 4,700 employees, so it's shedding around a fifth of its staff. While acknowledging that some of the factors that resulted in the layoffs were outside of the company's control, Armstrong said…

Samsung's profit in the fourth quarter last year dropped nearly 70% from a year prior due to low demand for semiconductors and smartphones from the global economic downturn.The South Korean tech giant said in its earnings guidance on Friday that it expected an operating profit of 4.3 trillion won and a revenue of 70 trillion won for the fourth quarter of 2022. Revenue dropped approximately 9% from a year prior but operating profit dipped by 69% over the same time period.Operating profit dropped also more than half from…