Software engineers face increasing prospects of being laid off as the tech industry begins downsizing due to economic uncertainties. Tech work was once considered a safe bet regarding job security, with many people encouraged to “learn to code” over the past two decades. Vox reported on April 21 that a trickle of layoffs in the tech industry…
Roku to Cut 6 Percent of Workforce as Tech Layoffs Rise Over 60,000 So Far in 2023
Roku, the digital streaming device maker, announced another round of layoffs, as the number of job losses in the tech industry rises over 60,000 in 2023. The company said it would lay off another 200 workers, or 6 percent of its workforce, in a Securities and Exchange Commission (SEC) filing on March 30, a few months after cutting…
Tech Layoffs in 2023 Near 150,000 Mark as Amazon, Facebook Shed Thousands More Employees
The technology industry is continuing to lay off thousands of employees, and is approaching 150,000 employees lost in the first three months of 2023. The e-commerce and streaming giant Amazon announced layoffs of 9,000 employees on Monday. Meta, which owns Facebook and Instagram, announced 10,000 job cuts a week earlier, on March 14. As of…
Silicon Valley Bank’s Shares Tank, Triggering Financial Sector Panic
Silicon Valley Bank’s shares have tanked, causing panic in the financial sector to spread from Wall Street to Europe and Asia. This comes after the lender announced it would sell shares at a loss in order to cover rapidly declining customer deposits. Silicon Valley Bank (SVB) Financial Group, a bank which lends primarily to tech companies, told investors…
New York Radio Broadcaster Laying Off 8 Percent of Employees
March 7, 2023
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Satellite radio firm SiriusXM has announced a reduction in its employee count, in line with the overall trend among tech companies firing workers in the past few months. “After a review of our business, we have made the decision to reduce the size of our workforce by 475 roles, or 8 percent,” CEO Jennifer Witz…
Dell Cutting 5 Percent of Workforce Amid Downturn
Dell Technologies Inc. is set to cut about five percent of its global workforce, amid an “uncertain future” for the computer company. Dell has taken several measures in recent months to deal with “market conditions.” Those changes included freezing external hiring, limiting travel, and reducing expenses for outside service. In its latest Securities and Exchange…
Tech Hubs, Desert Metros See Rents Soften in November: Report
December 7, 2022
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U.S. apartment rents dropped for the third straight month in November, easing back from this year’s record highs as leasing demand continues to weaken, according to newly released data. While still lofty compared to previous years, effective asking rents for new leases declined 0.59 percent nationally last month, marking the largest cut since the pandemic…
Intel, Sequoia Linked to AI Company That Worked for Chinese Military: Report
November 5, 2021
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News Analysis Major U.S. firms, including Intel and Sequoia Capital, have maintained financial and research ties with a Chinese company known to provide artificial intelligence to Beijing’s military, according to a new report by the Center for Security and Emerging Technology (CSET) at Georgetown University. 4Paradigm, a major enterprise AI company headquartered in Beijing, was…
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