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News on Medial
Nio labels previous layoffs as necessary, signals potential for more downsizing
Livemint
·
1y ago
Medial
Chinese electric car manufacturer, Nio Inc., is reportedly considering further staff reductions as part of its cost-cutting and efficiency improvement measures. Following its recent announcement of a 10% workforce reduction, certain departments have been asked to compile backup lay-off lists, possibly expanding the cuts to 20% to 30% of the unit. The job cuts are expected to primarily affect non-core businesses or those requiring significant investments. Despite receiving a $738.5 million investment in June, Nio continues to face financial challenges, with sales falling short of targets and losses being incurred.
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DOGE-led software revamp to speed US job cuts even as Elon Musk steps back
Economic Times
·
2m ago
Medial
A federal software revamp spearheaded by Elon Musk's Department of Government Efficiency aims to expedite U.S. government layoffs. This updated program, derived from an old Pentagon tool, accelerates workforce reduction by automating tedious processes, allowing agencies like the Department of Veterans Affairs to proceed with downsizing plans more efficiently. While it's positioned to streamline layoffs, concerns remain about potential errors and challenges in decision-making inherent in automated systems.
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Indie labels say Apple’s Spatial Audio royalties will take money away from them
Startup News FYI
·
1y ago
Medial
Independent record labels are criticizing Apple's new royalty structure for spatial audio, arguing that it will only benefit larger labels with more resources. Labels such as Beggars Group, Secretly Group, and Partisan Records, representing artists like Adele and Vampire Weekend, claim that the new royalties will decrease potential earnings for independent labels. Apple's payout structure includes extra royalties for artists who release music in spatial audio format, but this additional money comes from the fixed pool designated for other artists. Independent labels may pursue legal action if negotiations with Apple fail to address their concerns.
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As Google layoffs continue, a look at Big Tech job cuts in 2025
Economic Times
·
2m ago
Medial
In 2025, tech companies like Google, Meta, Microsoft, and Apple are continuing layoffs amid AI-focused strategies. Google recently cut 200 jobs in its global business unit, following previous reductions in its Platforms & Devices unit earlier this year. Microsoft plans middle management layoffs in May, while Meta laid off 3,600 staff in February due to performance reviews. Apple also cut roles in its digital services arm in 2024. The trend reflects a broader tech industry downsizing.
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Salesforce to sack 700 workers
Livemint
·
1y ago
Medial
Salesforce is reportedly cutting 700 jobs in its latest round of layoffs, joining the trend of tech industry downsizing. This move comes as the company looks to streamline operations and adapt to changing market conditions.
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Morgan Stanley cuts dozens of investment banking jobs in Asia-Pacific
VCCircle
·
1y ago
Medial
Morgan Stanley is reportedly cutting around 50 investment banking jobs in the Asia-Pacific region, as a result of China's slump in markets. The layoffs affect approximately 13% of the bank's workforce in the region, with Hong Kong and mainland China being the most impacted. This downsizing follows similar cutbacks by other global banks experiencing a decline in deal making activity in China. Morgan Stanley reported a first-quarter profit above analysts' estimates, with investment banking revenue rising 16% compared to the previous year.
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Tesla layoffs hit high performers, some departments slashed, sources say
TechCrunch
·
1y ago
Medial
Tesla recently announced layoffs affecting more than 10% of its workforce, with some departments experiencing cuts of up to 20%. The layoffs were primarily driven by the company's poor financial performance and the need to reduce costs and increase productivity. Surprisingly, many high-performing employees were also let go, including those working on projects that have fallen lower on Tesla's priority list. Additionally, two high-profile executives, Drew Baglino and Rohan Patel, have left the company. This downsizing comes ahead of the company's first-quarter earnings report.
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Google fires hundreds of employees; Fitbit leaders also exit
News Bytes
·
1y ago
Medial
Google is undergoing a significant restructuring of its Devices & Services teams, moving from separate divisions to a functional organization model, leading to layoffs primarily in the AR hardware team. The downsizing suggests a shift away from developing its AR hardware and a focus on OEM partnerships. Fitbit co-founders, including James Park, are departing. This indicates a potential transformation in Fitbit's future, as Google has removed features and steered users toward Pixel Watch, and Fitbit products have faced server outages and halted sales in certain countries.
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Chic can be local, it must go global, too - The Economic Times
Economic Times
·
19d ago
Medial
The article discusses the potential appearance of Kolhapuri chappals on Prada's 2026 runway, sparking debates on cultural appropriation. It highlights the opportunity for India to transform its traditional crafts into high fashion through strategic marketing. To integrate into high-fashion distribution, collaborations between European labels and Indian artisans are necessary. This model can enhance the value chain, promoting Indian artistry in global markets while rethinking production, design, and distribution efficiencies within the fashion industry.
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Researchers build world’s first computer without silicon using 2D materials at Penn State
Economic Times
·
17d ago
Medial
Researchers at Penn State have created a computer without silicon, using two-dimensional materials. This breakthrough demonstrates the potential to replace silicon, which has driven technology advancements for decades but is limited in downsizing. The new computer, made with materials like molybdenum disulphide and tungsten diselenide, shows promise for more flexible electronics. Despite challenges in speed and infrastructure, this advancement signifies a shift towards semiconductor technologies beyond silicon, with potential for future industry adoption.
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IBM Axes Employees 8,000 for AI Gains, Then Quietly Rehires to Plug Gaps
StartupTalky
·
1m ago
Medial
In 2023, IBM laid off 8,000 employees, mainly from HR, to introduce AskHR, an AI platform for automating tasks, boosting productivity by $3.5 billion, and improving customer satisfaction. Despite the layoffs, IBM’s workforce eventually grew as they rehired for roles emphasizing human creativity and problem-solving. This pivot reflects a broader industry trend of AI reshaping jobs rather than replacing them. IBM demonstrates that automation can drive workforce transformation rather than merely downsizing.
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