If the tech giants decide to undertake significant operating and CapEx cuts, the chip industry may be in for an extended slump. Amazon, Google, and Microsoft operate the largest public cloud services and have collectively shelled out $120.6 billion in capital expenditures in the last four quarters. Along with Facebook, they plan on scaling back …
Continue reading “Chip industry’s recovery relies on Tech Giants’ cost-cutting ventures”
“Our cadence of hiring is just right for us; we are still hiring — although at a pace that we think corresponds with the global challenges that we are facing,” Mr. Chew, CEO of TikTok, said at a Bloomberg event in Singapore recently. These are soothing words for an industry heavily impacted by the global …
Continue reading “TikTok Plans To Double Staff Despite Mass Layoffs”
Yes, you heard it right. This is real. The multi-million-making e-commerce company Amazon can no longer sustain its employees. Followed by many big tech companies around the globe, Amazon is also planning for layoffs. Read to know all about it. Why is Amazon Laying Off? Amazon plans to start laying off a striking number of …
Continue reading “Amazon Planning to Lay Off 10,000 Employees”
“Today I’m sharing some of the most difficult changes we’ve made in Meta’s history. I’ve decided to reduce the size of our team by about 13 per cent and let more than 11,000 of our talented employees go”. With these words, Mark Zuckerberg, founder, and CEO of Meta laid off 11,000 employees, or about 13 …
Continue reading “Mark Zukerberg Sacks 11,000 Employees in Worst Tech Layoff”
Apple is not only renowned for its iPhone, but also for its whopping market value. The exponential growth of Apple has been vividly noticed in its market value, surpassing the industry giants Amazon, Alphabet, and Meta combined. Currently, Apple is standing tall at a worth of $2.307 trillion, with its competitor fellows jammed at $2.306 …
Elon Musk has been a constant visitor in regular news for a prolonged period. And this time, Musk did something crazy. It was right after purchasing Twitter for a whopping deal of $44 billion, Musk fired its CEO, Parag Agrawal. The firing didn’t only end with the CEO but also the top executives. There was …
Continue reading “Musk Buys Twitter for $44 Billion and Fires CEO Parag Agrawal”
Replacing the former president, Kevin Jones, who had held the title since 2019, is Amar Maletira. With brilliant management and leadership experience in the field, Maletira is sure to accentuate the business up to its full potential. In the past, Maletira has brought several businesses to become multi-billion-dollar companies. At Rackspace Technology, Maletira already contributed …
Continue reading “Rackspace Technology Appoints Amar Maletira as CEO”
SAN JOSE, Calif. – September 1, 2022 – Trellix, the cybersecurity company delivering the future of extended detection and response (XDR), today announced Kim Anstett has joined Trellix as Chief Information Officer (CIO). As CIO, Anstett will lead the teams responsible for Trellix’s global information and technology systems to accelerate customer value and business resilience. …
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Aiming to reduce the deficits and lower inflation, President Biden signed the Inflation Reduction Act on 16 August 2022. The bill proposes reduced healthcare and drug expenses and investment in domestic energy production to battle climate change. Essentially a scaled-down rendition of the Build Back Better Act proposed in 2021, President Joe Biden calls it …
Continue reading “The Inflation Reduction Act – A Welcome Change for the Average American?”
In an attempt to control semiconductor-manufacturing companies from using subsidies for their personal growth and agenda, the US Commerce Department has decided to put a cap on the government subsidies that semiconductor firms use. Before the US Commerce Department limited government subsidies, the legislation provided US$52 billion to improve and boost the chip industry. The …
Continue reading “US Commerce Department Passes Funding Bill”
The enterprise tech world is evolving with newer ambitions. While the wings of innovation are spreading to newer skies, the technologists are finding it hard to play catch-up and are making sure they are in tune with the technology juggernaut. CIOCoverage aims to bridge this very gap that exists between the tech-savvy where he rests, in the very heart of it. Awakening a keen insight in you to move along the flow, CIOCoverage works to make the entrepreneurs, versatile to the sturdy technological influences.
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