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News on Medial
Samsung shifts executives to six-day workweeks to ‘inject a sense of crisis’
The Verge
·
1y ago
Medial
Samsung is implementing a six-day workweek for executives across all divisions to address recent business challenges and disappointing financial results. This decision follows the worst financial year Samsung has experienced in over a decade, amid global economic concerns and increased competition in the tech sector. The policy aims to enhance productivity and crisis management, focusing only on executive-level staff, with no changes for other employees.
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Related News
A new era of smartphone wars is about to begin
Business Insider
·
1y ago
Medial
The era of smartphone wars, marked by intense competition between tech giants Apple, Samsung, and Google, appears to be entering a new phase. With the smartphone market slowing down and consumers holding onto their devices for longer, companies are turning to artificial intelligence (AI) to inject new life into their products. Apple, Samsung, and Google have all unveiled plans to integrate AI features into their upcoming devices, aiming to enhance user experiences and revitalize sales. The use of generative AI promises to bring significant changes to smartphones, offering exciting possibilities for consumers in 2024.
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Global PE firms shuffle India leadership as exits shake up local VCs
VCCircle
·
1y ago
Medial
In 2023, various private equity and venture capital firms experienced major leadership changes in India, with many executives transitioning to new roles at rival firms or embarking on entrepreneurial endeavors. This reshuffling occurred amidst a slowdown in dealmaking and macroeconomic uncertainties. Additionally, seasoned executives within the industry underwent significant shifts in their career trajectories.
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Smart mobility company Six Sense Mobility secures Rs 6 crore seed funding from Piper Serica
Economic Times
·
11m ago
Medial
Indian smart mobility company Six Sense Mobility has raised INR 6 crore ($800,000) in a seed funding round from venture capital firm Piper Serica VC. Founded by Sumit Roy, Kapil Rao, and Narendra Kumar Verma, the Delhi-based firm plans to expand its team and production capacity, as well as invest in R&D for vehicle safety technologies. Six Sense Mobility offers a range of solutions for automotive safety, security, and maintenance, including crash detection and emergency services. The company aims to scale rapidly in the Indian and international markets, capitalizing on the growing connected cars sector.
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Companies News Today Live Updates on October 20, 2024: Boeing’s CEO is shrinking the jet maker to stop its crisis from spiraling
Livemint
·
9m ago
Medial
Boeing's CEO is implementing measures to downsize the company in order to mitigate the ongoing crisis. Stay updated on the latest company news, financial performance, strategic acquisitions, and market shifts. Gain insight into mergers, acquisitions, financial results, and leadership changes that are impacting various industries.
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Samsung Electronics' main South Korea union to strike over pay from August 15
Economic Times
·
11m ago
Medial
Samsung Electronics' largest workers' union in South Korea, the National Samsung Electronics Union (NSEU), announced a four-day strike starting on Thursday to push for higher wages and bonuses. The union, representing 30% of Samsung's South Korean workforce, aims to disrupt production by taking advantage of a national holiday on the first day of the strike. Samsung assured that it would prioritize production and stick to a no-work, no-pay policy while seeking to resume negotiations. The union had previously declared an indefinite strike and plans to continue with unexpected strikes to demand better pay and benefits.
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Prosecutors to appeal after Samsung chief Lee cleared over 2015 merger case
Reuters
·
1y ago
Medial
South Korean prosecutors will appeal a court decision to clear Samsung Electronics Chairman Jay Y. Lee of charges including accounting fraud and stock manipulation in a case related to a 2015 merger of affiliates. The court cleared Lee and other former executives of all prosecutors' charges alleging they had engineered a merger in a way that ignored the interests of minority shareholders. Samsung has not yet commented on the matter.
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Three misssteps that hurt Sixth Sense-backed The Ayurveda Company
VCCircle
·
1m ago
Medial
The Ayurveda Company (TAC), an Ayurveda-focused beauty brand backed by Sixth Sense Ventures, faced rumors of closure following a LinkedIn post from its co-founder and CEO, Shreedha Singh. The message invited consumers to shop “one last time,” prompting speculation about the brand's future. This incident highlighted three key missteps: unclear communication, lack of crisis management strategy, and possible internal conflicts. These factors contributed to the brand's ongoing challenges.
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Pro-Russia hackers target inboxes with 0-day in webmail app used by millions
Arstechnica
·
1y ago
Medial
A pro-Russia hacker group has been exploiting a zero-day vulnerability in Roundcube, a widely used webmail software, to target governmental entities and a think tank in Europe. The vulnerability allowed the hackers to inject JavaScript into the Roundcube server application and take control of targeted emails. The attacks started on October 11 and were detected by security firm ESET a day later. Roundcube issued a patch (CVE-2023-5631) on October 14. The hacker group, known as Winter Vivern, has previously targeted governments and think tanks in Europe and Central Asia. It is important for users to ensure they are using a patched version of Roundcube.
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Layoffs 2024: Samsung Electronics to trim 9-10% workforce in India, as consumer demand weakens, says report
Livemint
·
10m ago
Medial
Samsung Electronics is reportedly planning to lay off over 200 executives in its Indian operations due to slowing business growth and weakening consumer demand in the country. The impacted departments are expected to include mobile phones, consumer electronics, home appliances, and support functions. Samsung will offer the affected employees a severance package based on their employment contract. The news has caused concern in the industry, with some executives seeking job opportunities elsewhere. Additionally, Samsung's Chennai factory has experienced labour unrest, disrupting production. On the other hand, Apple is projected to create around 200,000 direct jobs in India, with a majority being women.
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Thousands of WordPress sites have been hacked through tagDiv plugin vulnerability
Arstechnica
·
1y ago
Medial
Thousands of WordPress sites have been hacked due to a recently patched vulnerability in the widely-used plugin called tagDiv Composer, which is a requirement for popular WordPress themes Newspaper and Newsmag. The vulnerability allowed for cross-site scripting (XSS) attacks, enabling hackers to inject malicious code and redirect visitors to scams and fraudulent sites. Security firm Sucuri has been tracking the malware campaign, named Balada, since 2017, estimating that it has compromised over 1 million sites in the past six years. It is recommended for WordPress site administrators to check for signs of infection and remove any malicious scripts or backdoors.
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