New York: In just the past month there have been nearly 50,000 job cuts across the technology sector. Microsoft : The software company said it will cut about 10,000 jobs, almost 5 per cent of its workforce. Google : The search engine giant becomes the most recent in the industry to say it must adjust, saying 12,000 workers, or about 6 per cent of its workforce, would be let go. Spotify : The music streaming service is cutting 6 per cent of its global workforce. Spotify reported in its latest annual report that it had about 6,600 employees, which implies that 400 jobs are being axed.
Companies in India release their September quarter earnings around the Diwali festival, the high season for domestic consumption. The short-lived rout in Chinese stocks that followed President Xi Jinping’s ascendancy to a precedent-breaking third term came as a wake-up call. And when it comes to implementing a China+1 strategy, who has a deeper labor pool than India?The stock market is taking notice of the order flow. Nor will the stock market. However, the real lever that could swing things in favor of the second-most-populous nation lies with CEOs of Fortune 500 companies.3 months ago ET Telecom
Satellite communications is emerging as an important part of India's ambitions to scale up quality internet access across the country, Minister of State for IT Rajeev Chandrasekhar said on Thursday. For the digital economy and India's growing clout in global technology landscape, satellite communications holds significant relevance, the minister said speaking at India Space Congress 2022. "Our goal...is by 2025-26 to have 1.2 billion Indians have the ability to connect to the internet directly through their device, and...role of satellite communications and space segment is an inherent part of this," Chandrasekhar said.At times, wireless technology may have limitations and "satellite is clearly emerging as an important part of the blueprint of delivering quality internet to all citizens and enterprises of India," he said.Satellite and space, therefore, will be important in the overall mission to ensure delivery of internet and goal of connecting people to the digital economy.India's tech economy has evolved from being IT services orientated to additional realms such as innovation, startup segments, consumer tech, fintech, and e-commerce. "We have a momentum going there, which makes us competitive with the rest of the world in terms of scale and quality and size, and innovation and applications that our startups are creating. But our focus is now also on the nuts and bolts of the internet, the underlying electronics, technology, devices and products that power the internet" the minister said.The space and satcomm sectors are going to offer interesting and critical use cases that will catalyse startups, and development of devices and electronics.India is an island of calm in an otherwise disturbed, turbulent global environment, where many nations are struggling with inflation and post-COVID era issues, the minister said.India has carefully navigated the storm, to emerge as the fastest-growing innovation ecosystem in the world, attracting high FDI inflows, he noted.3 months ago ET Telecom
They fell short of a 31% average analysts' forecast.Amazon shares slumped 12% after the bell on Thursday after it forecast a slowdown in sales growth for the holiday season, erasing some $140 billion from its market value and capping a week of dismal earnings from global tech firms. Alphabet 's Google Cloud revenue grew 38% in the quarter, beating estimates. The European region is a source of weakness. "The "build more" happened in 2021 and we've been coasting down since then," said McCarron. He added that he expects Intel's datacenter weakness to be bottoming soon "though there are larger macroeconomic concerns about how much improvement we might see on the next growth cycle."3 months ago ET Telecom
See More DetailsNEW DELHI: Göran Marby has stepped down as the President and CEO of the Internet Corporation for Assigned Names and Numbers ( ICANN ) after a six-year tenure.ICANN in a statement said that the Board of Directors has accepted Marby's resignation as President and CEO, with his departure effective immediately.The organisation in the interim has named Sally Costerton , ICANN Senior Advisor to the President and Senior Vice President, Global Stakeholder Engagement, as the President and CEO. "On behalf of the Board I'd like to thank Göran for his leadership over the past six-and-a-half years. He served during a critical time in ICANN's history," said ICANN Board Chair Tripti Sinha. "I'm extremely proud of the work we have done together with the ICANN community and Board. ICANN org has designed the implementation strategies for several critical initiatives that will shape the future for ICANN and the Internet users of the world," said Marby.The ICANN Board will convene its search for a new CEO at the start of 2023, as per the statement.1 month ago ET Telecom
The governments (Centre and state) are working on it,” an official in the know said.On its part, the Tamil Nadu government is courting Luxshare aggressively as it looks to deepen the footprint of electronics manufacturing in the state. So, if we keep saying “no” to all of them, how will we ever manufacture here? Salcomp runs its large unit within the Nokia Telecom SEZ, where Luxshare had bought a building, apart from the Motorola factory.In recent times, Apple has stepped on the gas in finding alternatives to China. Foxconn, for example, has begun rolling out the newly released iPhone14 just a month after global launch in September by the Cupertino, California-based gadgets major. Pegatron, another Taiwanese smartphone assembler, has kicked off assembly of top-end smartphones from its plant in Mahindra World City, off Chennai.3 months ago ET Telecom
"Some of the crimes may be new to this medium, some of the existing crimes will be enabled by the medium and taken to a new level," he said.Phishing and scams could operate differently when augmented reality and virtual reality are involved, Oberoi said. Child safety issues were also a concern, he said.Virtual reality could also facilitate crime in the physical world, Oberoi said. Facebook announced it was changing its name to Meta in October 2021 to mark its shift towards this idea.But so far, this vision shows little signs of materialising. Meta's stock value plunged on Thursday as investors voiced skepticism about spending on metaverse bets. Sales of blockchain-based assets representing virtual land and other digital possessions have also fallen sharply after a period of frenetic growth last year.3 months ago ET Telecom
New Delhi: India 's expectation of Twitter complying with the country's rules for social media platforms will not change with its takeover by Elon Musk , according to a senior minister. "How does it matter to government who owns what. Telsa wants higher import duties slashed, a move opposed by local companies. The panels will look into appeals filed by individuals against decisions of grievance officers of social media platforms.As it is, big social media firms have drawn flak in the past over hate speech, misinformation and fake news circulating on their platforms. Concerns have been flagged by some quarters, time and again, over digital platforms acting arbitrarily in pulling down content and 'de-platforming' users.The government notified IT rules last year to make digital intermediaries more accountable and responsible for content hosted on their platforms.3 months ago ET Telecom