Intel shocked its employees Tuesday night by announcing that it would sharply cut employee compensation after reporting miserable financial results last week. The chipmaker said it will cut base pay for employees above mid-level ranks by at least 5% starting March 1, according to employees who heard the company’s announcement. Vice presidents will take a …
Intel cuts wages and bonuses after disastrous quarterly results Read More »
The princes of Wall Street lose their crowns and tighten their belts. Massive layoffs and diminishing bonus checks promise to put a damper on the high-flying patterns of the untouched stock brokers, money managers, investment bankers and hedge fund geniuses. Bloomberg Businessweek described Wall Street as being in “contraction mode”. Thousands of layoffs have either …
All the ways Wall Streeters suffer from bonus cuts Read More »
Jan. 25 (Reuters) – Tesla Inc Chief Executive Elon Musk said on Wednesday that steep price cuts for Tesla Inc have ignited demand for its electric cars, easing concerns that a weak economy could stifle buyer interest. The company slightly beat Wall Street targets for fourth-quarter revenue and earnings earlier on Wednesday despite a sharp …
A Tesla showroom is seen in the City Center shopping mall on January 17, 2023 in Washington, DC. Anna Money Maker | Getty Images Detroit – Tesla Cars in the US are seeing massive price cuts, and this is proving to be a double-edged sword for the electric car industry and the major auto industry. …
How Tesla’s price cuts could lead to an electric car price war Read More »
Halo developer 343 Industries says the Master Chief and Cortana will remain under its roof, but reports of deep cuts to the Halo development team call into question the studio’s ability to sustainably develop future Halo content. This story started last week when we learned about it Halo studio was affected by Microsoft plans to …
Microsoft Mesh Avatars premiered in October last year, but the excitement around the ‘metaverse’ has depleted considerably since late 2021.picture: Microsoft After dusting off Microsoft is taking steps to lay off More than 10,000 employees– 5% of its global workforce – It’s becoming clear that Microsoft is not only taking a different approach to VR …
Microsoft cuts VR staff and leaves questions about its Metaverse ambitions Read More »
Sundar Pichai, CEO of Alphabet Louis Jane | AFP | Getty Images Days after Google announced the largest round of layoffs in the company’s 25-year history, executives defended the job cuts and took questions from the concerned workforce during a city council meeting Monday. The Google CEO Sundar Pichai led the company-wide meeting and told …
Banks are preparing for the biggest round of job cuts since the global financial crisis, as executives come under pressure to cut costs in the wake of a collapse in investment bank revenues. The layoffs – which are expected to run into the tens of thousands across the sector – reflect banks’ mass hiring over …
Banks are preparing for the deepest job cuts since the financial crisis Read More »
Jan. 20 (Reuters) – Alphabet Inc (GOOGL.O), Google’s parent company, will cut about 12,000 jobs as it faces “a different economic reality,” it said in a note to employees, and is redoubling its intelligence efforts. Artificial (AI) and exclusion of support staff. Pilot projects. The job cuts affect 6% of its workforce, and come after …
Alphabet cuts 12,000 jobs after pandemic hiring wave, and refocuses on AI Read More »
Microsoft is cutting 10,000 workers, roughly 5% of its workforce, to join other technology companies that have scaled back their pandemic-era expansions. The company said in a regulatory filing on Wednesday that the layoffs were in response to “macroeconomic conditions and changing customer priorities.” The Redmond, Washington-based software giant said it would also make changes …
Spread of job cuts in the technology sector, Microsoft offers 10 thousand jobs Read More »
