Tech layoffs to continue
IT layoffs- Headhunters see up to 90% jump in mid-level tech resumes | Economic Times
Headhunters across the country are seeing an unprecedented jump in the resumes of mid-management IT professionals with firms reporting a spike of anywhere between 15% to 90% with one firm witnessing an increase of as much as 250% over the previous year.
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Watch IT layoffs- Headhunters see up to 90% jump in mid-level tech resumes | Economic Times With HD QualityBy The Economic Times| 1657 views
Why have big tech companies started mass layoffs??
During and post Covid, several companies doubled their sizes — including some small tech firms that hired crazily because the world was going towards digitization. “Now, when it starts becoming more ‘unit economics–driven,’ it will become an opportunity for some companies to cut their unnecessary load, and demand may also slow down, given the overall global macroeconomic scenario. Hence, employers are forced to re-adjust their cost structures to the available demand.”
Tech layoffs are skyrocketing and several enterprises are opting for mass layoffs and freezing hirings to maintain the profit ratio by tightening their belts and they are in a good faith that everything will go on-line, digital is going to drive the market on their own terms but creating a global scenario as the uncertainties in the market and challenging global macroeconomic conditions. Thousands of employees have lost their jobs in the country and are sharing their bitter layoff experience.
Job cuts are hitting the tech sector hard after years of unbridled growth. Facebook parent Meta, Twitter, Shopify, Salesforce, Stripe and CISCO have laid off thousands of employees to weather the rough macroeconomic conditions. The past few months have been difficult for people working in the private sector in India, particularly for employees of tech companies.
It’s not just the startups that are laying off people, but also storied IT services organizations. Amazon will continue to lay off employees in the coming year. Thankfully, there is no such prospect of recession in India.
Experts believe this might be just the beginning of job cuts in India. Startups with unicorn status including Byju’s Unacademy, Meesho, Ola, Blinkit, Cars24 and others, have laid off thousands of people in their workforce.
Secondly, organizations have been bullish and anticipating a higher valuation and a lot of inflow of funds from venture capitalists. Probably the organizations could not antiBy VARINDIA| 28 views
LAYOFFS - Opportunity For Bad Actors
Every day, it seems, there is a new announcement of a company forced to do layoffs - most notably in the tech and media sectors. With layoffs comes the threat of a disgruntled employee taking important company information with them when they go. How can companies minimize the risk of data exfiltration by current or ex-employees?
Massive layoffs are a huge opportunity for bad actors and someone who has just been laid off may be a prime target for an incentivized offer for information. Experts say, "Organizations have spent most of their resources on protecting themselves from external cyber threats. But what happens when the adversary has a set of keys and can stroll right in?
Today's Headline in NewsHours
0:00 Intro.
00:47 Layoffs can increase security risks.
01:30 Layoffs can lead to decreased morale creating opportunities for bad actors.
02:15 Protecting data during layoffs is crucial.
03:04 Samsung will not replace Google with Bing on its smartphones.
03:45 Tesla seriously considering setting up production base in India.
04:30 Blue Origin wins $3.4B NASA contract to build spacecraft for Moon missions.
05:20 Twitter testing new product with influencers and celebrities.
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#varindia #newshour #Layoffs #OpportunisticBehavior #BadActors #JobLoss #Unemployment #WorkplaceChallenges #EconomicImpact #BusinessEthics #CorporateResponsibility #WorkforceReduction #CareerTransition #EmploymentIssues #JobMarket #LaborForce #HumanResources #OrganizationalChange #Economy #JobBy VARINDIA| 42 views
12,000 Meta employees are likely to lose their jobs amid ‘quiet layoffs’ #shorts
12,000 Meta employees are likely to lose their jobs amid ‘quiet layoffs’ #shortsBy VARINDIA| 34 views
Amazon CEO says more layoffs coming in 2023 #shortsvideo
Amazon CEO says more layoffs coming in 2023 #shortsvideoBy VARINDIA| 9 views
NITES alleges Amazon India layoffs as unjustified #shorts
NITES alleges Amazon India layoffs as unjustified #shortsBy VARINDIA| 10 views
Delhi CM asks govt to intervene as IT employees finding difficulty in getting jobs amid layoffs
Delhi CM asks govt to intervene as IT employees finding difficulty in getting jobs amid layoffsBy VARINDIA| 16 views
News Wrap- Bank of America Announces 3,500 Layoffs
In other news Friday, Bank of America, the nation's largest bank, said it will eliminate 3,500 jobs by the end of September following a string of other cuts announced earlier this year. Also, a suicide bomber struck a Sunni mosque in Pakistan, killing nearly 50 people.
By vimal| 953 views
IT Employees Fight against Layoffs In India | iNews
Watch IT Employees Fight against Layoffs In India | iNews With HD Quality
By I News| 1061 views
As the global financial situation weighs on wallets and portfolios, big names like Meta, Twitter and Amazon have all initiated #layoffs in 2022. November tech layoffs alone have surpassed 45,000 heads, with the largest firms trimming the fat by 10,000+ heads each.
Some companies that go private disappear from public view. But Not Twitter. It’s hard to think of another corporate takeover whose aftermath has drawn much of the media attention, with many details leaking out. And that has surely complicated Elon Musk’s life, for instance, scaring away advertisers and possibly making it harder to recruit employees. Even so, Musk’s view that it would be easier to restructure Twitter as a private firm—expressed in an April text to Twitter’s then chair, Bret Taylor—was still probably right.
After all, while we’ve heard a lot about the untrammelled nature of Musk’s management style, we know little about what’s most important—the state of Twitter’s business, such as its current level of revenue, expenses and debt levels. Yes… Musk borrowed $13 billion in debt that carried very high interest rates.
It’s possible, though, that he will use his latest sale of Tesla stock this week, raising somewhere around $3.5 billion, to pay some of that off. That’s one interpretation of his tweet: “At risk of stating obvious, beware of debt in turbulent macroeconomic conditions, especially when Fed keeps raising rates.” The bottom line is that without knowing the key financial details, we can’t really assess the state of play.
As reported by the Information, based on the snippets that have been reported—such as ad revenue falling in some regions by as much as half—you can guess that lower revenue has largely offset the cost savings from employee cuts. It’s also likely that at current valuation levels Twitter’s equity has been all but wiped out.
Assume that its revenue is running at an annualized level of $4 billion now, down 20% from 2021. Then appl
#reservebankofindia#twitter#amazon#rbi#FinanceMinisterNirmalaSitharaman#meta#Varindia#PresidentDroupadiMurmu#varindianewshour#foxconn#CyberRoot
Category:
Technology
IT layoffs- Headhunters see up to 90% jump in mid-level tech resumes | Economic Times
Headhunters across the country are seeing an unprecedented jump in the resumes of mid-management IT professionals with firms reporting a spike of anywhere between 15% to 90% with one firm witnessing an increase of as much as 250% over the previous year.
►Subscribe to The Economic Times for latest video updates. It's free! - http://www.youtube.com/TheEconomicTimes?sub_confirmation=1
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Watch IT layoffs- Headhunters see up to 90% jump in mid-level tech resumes | Economic Times With HD QualityBy The Economic Times| 1657 views
Why have big tech companies started mass layoffs??
During and post Covid, several companies doubled their sizes — including some small tech firms that hired crazily because the world was going towards digitization. “Now, when it starts becoming more ‘unit economics–driven,’ it will become an opportunity for some companies to cut their unnecessary load, and demand may also slow down, given the overall global macroeconomic scenario. Hence, employers are forced to re-adjust their cost structures to the available demand.”
Tech layoffs are skyrocketing and several enterprises are opting for mass layoffs and freezing hirings to maintain the profit ratio by tightening their belts and they are in a good faith that everything will go on-line, digital is going to drive the market on their own terms but creating a global scenario as the uncertainties in the market and challenging global macroeconomic conditions. Thousands of employees have lost their jobs in the country and are sharing their bitter layoff experience.
Job cuts are hitting the tech sector hard after years of unbridled growth. Facebook parent Meta, Twitter, Shopify, Salesforce, Stripe and CISCO have laid off thousands of employees to weather the rough macroeconomic conditions. The past few months have been difficult for people working in the private sector in India, particularly for employees of tech companies.
It’s not just the startups that are laying off people, but also storied IT services organizations. Amazon will continue to lay off employees in the coming year. Thankfully, there is no such prospect of recession in India.
Experts believe this might be just the beginning of job cuts in India. Startups with unicorn status including Byju’s Unacademy, Meesho, Ola, Blinkit, Cars24 and others, have laid off thousands of people in their workforce.
Secondly, organizations have been bullish and anticipating a higher valuation and a lot of inflow of funds from venture capitalists. Probably the organizations could not antiBy VARINDIA| 28 views
LAYOFFS - Opportunity For Bad Actors
Every day, it seems, there is a new announcement of a company forced to do layoffs - most notably in the tech and media sectors. With layoffs comes the threat of a disgruntled employee taking important company information with them when they go. How can companies minimize the risk of data exfiltration by current or ex-employees?
Massive layoffs are a huge opportunity for bad actors and someone who has just been laid off may be a prime target for an incentivized offer for information. Experts say, "Organizations have spent most of their resources on protecting themselves from external cyber threats. But what happens when the adversary has a set of keys and can stroll right in?
Today's Headline in NewsHours
0:00 Intro.
00:47 Layoffs can increase security risks.
01:30 Layoffs can lead to decreased morale creating opportunities for bad actors.
02:15 Protecting data during layoffs is crucial.
03:04 Samsung will not replace Google with Bing on its smartphones.
03:45 Tesla seriously considering setting up production base in India.
04:30 Blue Origin wins $3.4B NASA contract to build spacecraft for Moon missions.
05:20 Twitter testing new product with influencers and celebrities.
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#varindia #newshour #Layoffs #OpportunisticBehavior #BadActors #JobLoss #Unemployment #WorkplaceChallenges #EconomicImpact #BusinessEthics #CorporateResponsibility #WorkforceReduction #CareerTransition #EmploymentIssues #JobMarket #LaborForce #HumanResources #OrganizationalChange #Economy #JobBy VARINDIA| 42 views
12,000 Meta employees are likely to lose their jobs amid ‘quiet layoffs’ #shorts
12,000 Meta employees are likely to lose their jobs amid ‘quiet layoffs’ #shortsBy VARINDIA| 34 views
Amazon CEO says more layoffs coming in 2023 #shortsvideo
Amazon CEO says more layoffs coming in 2023 #shortsvideoBy VARINDIA| 9 views
NITES alleges Amazon India layoffs as unjustified #shorts
NITES alleges Amazon India layoffs as unjustified #shortsBy VARINDIA| 10 views
Delhi CM asks govt to intervene as IT employees finding difficulty in getting jobs amid layoffs
Delhi CM asks govt to intervene as IT employees finding difficulty in getting jobs amid layoffsBy VARINDIA| 16 views
News Wrap- Bank of America Announces 3,500 Layoffs
In other news Friday, Bank of America, the nation's largest bank, said it will eliminate 3,500 jobs by the end of September following a string of other cuts announced earlier this year. Also, a suicide bomber struck a Sunni mosque in Pakistan, killing nearly 50 people.
By vimal| 953 views
IT Employees Fight against Layoffs In India | iNews
Watch IT Employees Fight against Layoffs In India | iNews With HD Quality
By I News| 1061 views
VARINDIA
AI is used Towards Client AI Processing
#Artificialintelligence is increasingly being used for client AI processing. This means that AI models are being trained and deployed on client devices, such as smartphones, laptops, and IoT devices. This has a number of advantages, including, Reduced latency, Improved privacy and Reduced bandwidth usage.
Traditionally, AI processing has been conducted by massive clusters of servers in the cloud or data centers. This is because AI models can be very large and complex, and they require a lot of computing power to train and run.
AI is used Towards Client AI ProcessingBy VARINDIA| 256 views
Can Google’s tools combat online misinformation
#Google's efforts to combat misinformation are important because misinformation can have a negative impact on society. It can undermine trust in institutions, lead to violence, and harm democracy. By developing new tools and initiatives, Google is helping to make the internet a safer and more informed place for everyone.
Google has recently unveiled three new tools to combat online misinformation:
· About this Image: This feature, which was initially unveiled earlier in 2023 and is now available globally to English-speaking users through Google Search, provides information about images, including their history, descriptions by users, metadata, and clear indications if an image is generated by AI. Google's AI-generated images are also clearly labelled.
· Fact Check Explorer: This tool allows journalists to verify images by tapping into information from independent organizations.
· AI-generated source descriptions within the Search Generative Experience: This feature provides original sources and insights from reputable publications, which are accessible through the "More About This Page" section in search results.
Can Google’s tools combat online misinformationBy VARINDIA| 172 views
Increasing online Frauds
Recent developments in the technology landscape, including the acceleration of automation, artificial intelligence, and the digitization of industries, are transforming the nature of work. These challenges have immediate and far-reaching implications for India's economy, society, and future prospects.
The Tech Tsunami, characterized by rapid technological advancements, has the potential to drive unprecedented growth and innovation. However, if not harnessed effectively, it could lead to job shrinkage, job displacement and job reduction further leading to increased economic inequality.
Today's Headline in NewsHours
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3:07 Online gaming firms sent tax notices worth INR 1 lakh cr
3:36 Government plans to introduce regulatory sandbox for OTT apps
4:05 #Microsoft pulling the plug on its metaverse project
4:33 #HMD Global to manufacture own brand of smartphones in India in 2024
5:00 #TechMahindra’s CEO designate Mohit Joshi announces restructuring
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Increasing online FraudsBy VARINDIA| 181 views
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