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Microsoft Announces Workforce Reduction, Reports Impressive Profits
Business Bytes
·
1y ago
Medial
Microsoft announced plans to reduce its workforce by about 10,000 employees, which accounts for 5% of its total workforce. This move reflects the company's commitment to optimizing operations and aligning the workforce with changing business needs. Despite the reduction, Microsoft reported impressive financial results, with profits of $22.3 billion, a 27% increase. This highlights their success in the tech industry.
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Microsoft’s mass layoffs come despite a streak of profitable quarters
Economic Times
·
2m ago
Medial
Microsoft has laid off about 6,000 employees, representing nearly 3% of its workforce, despite strong financial performance. This move, the largest in over two years, affects mostly software engineering and product management roles, particularly in Washington. The layoffs aim to streamline operations, focusing on reducing management layers. Despite robust sales and profits, including growth in its Azure cloud division and investment in AI, Microsoft follows a broader industry trend of optimizing operations for long-term efficiency.
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Microsoft to lay off small part of workforce based on performance: report
Economic Times
·
7m ago
Medial
Microsoft announced a small workforce reduction based on performance, affecting less than 1% of its 228,000 employees. This move follows larger layoffs earlier in 2023, including 10,000 job cuts and reductions in its gaming and cloud computing units. Despite these layoffs, CEO Satya Nadella announced a $3 billion investment in India to enhance cloud and AI capabilities and launched an AI skills upskilling initiative for millions of youths.
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Google cuts about 200 staff in global business unit: Report
Economic Times
·
3m ago
Medial
Google recently reduced its workforce by approximately 200 employees within its global business unit, focusing on sales and partnerships. This move is part of a broader trend among major tech companies to reallocate resources towards data centers and AI, while reducing investments in other areas. Earlier, Google announced a reduction of 12,000 jobs. Other tech giants like Meta, Microsoft, and Amazon are also cutting jobs while prioritizing new technological advancements.
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Paytm refutes layoff reports as SVP Praveen Sharma steps down
Economic Times
·
1y ago
Medial
One97 Communications, which owns Paytm, announced that Praveen Sharma, Senior Vice President - Business, has resigned from his position. Sharma is leaving to pursue new opportunities. Paytm also denied reports of a 25-50% reduction in workforce, stating that such claims are baseless and that they are currently in the process of annual appraisals. The company reaffirmed its commitment to growth and operational efficiency. Paytm remains dedicated to leading the digital payments and financial services industry in India.
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Amazon's AWS cloud computing unit cuts at least hundreds of jobs - The Economic Times
Economic Times
·
22d ago
Medial
Amazon's AWS cloud computing unit has cut hundreds of jobs, as confirmed by an Amazon spokesperson, amid broader corporate efforts to reduce costs and enhance efficiency through automation and AI. This reduction follows CEO Andy Jassy's warning about workforce adjustments due to AI tool adoption. Amazon is among several companies, including Microsoft and Meta, making layoffs this year. The decision is part of AWS's strategy to optimize resources while maintaining innovation and sales growth.
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Microsoft's job cuts weigh heavily on me: CEO Satya Nadella - The Economic Times
Economic Times
·
14d ago
Medial
Microsoft recently announced a reduction of about 4% in its global workforce, equating to around 6,000 jobs. CEO Satya Nadella described the decision as one of the most challenging for the organization, due to its impact on colleagues and friends. Despite layoffs, Nadella emphasized Microsoft's shift from a traditional software company to an AI-driven intelligence engine. AI is reported to enhance productivity, reportedly saving the company over $500 million in call centres alone.
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Amazon expects to reduce corporate jobs due to AI | TechCrunch
TechCrunch
·
1m ago
Medial
Amazon CEO Andy Jassy anticipates a future reduction in corporate jobs due to generative AI transforming the workforce. As AI agents are increasingly implemented, the need for some current roles will decrease, while demand for new types of jobs will grow. Although the exact scale of workforce reduction is uncertain, a survey by the World Economic Forum indicates that 40% of employers are planning staff cuts in roles that could be automated by AI.
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French digital payments firm Worldline to lay off 8% of its workforce
Economic Times
·
1y ago
Medial
French digital payments company Worldline will be reducing its global workforce by approximately 8% as part of its cost reduction plan. The company has confirmed that it has started the necessary procedures with employee representative bodies. This move comes following the initial announcement of the cost reduction plan in October.
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Sony cuts 900 jobs in PlayStation units, shuts London Studio amid challenges
Livemint
·
1y ago
Medial
Sony is planning to cut around 900 jobs in its PlayStation unit and close a London-based studio as a response to the challenges faced by the videogame industry after the pandemic slump. This move follows a recent reduction in sales expectations for the PlayStation 5 console. The job cuts will affect about 8% of the division's workforce across different regions. Sony's decision aligns with industry trends, as other companies, like Microsoft and Riot Games, have also undertaken layoffs due to a sluggish gaming market recovery. Despite challenges, the PlayStation 5 has sold over 50 million units since its launch in 2020.
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Microsoft and OpenAI have a financial definition of AGI: Report | TechCrunch
TechCrunch
·
7m ago
Medial
Microsoft and OpenAI have a unique definition of artificial general intelligence (AGI) based on profits, according to a report. OpenAI must generate at least $100 billion in profits before they achieve AGI. However, OpenAI is projected to lose billions of dollars this year and may not turn a profit until 2029. This definition is different from the technical and philosophical understanding of AGI. The agreement between the two companies means Microsoft could have access to OpenAI's technology for over a decade. Some speculate that OpenAI may declare AGI sooner to exclude Microsoft, but the profit-focused definition may pose challenges.
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