A study commissioned by Meta has found that the metaverse could contribute up to $760 billion, or 2.4% of the US GDP by 2035, covering sectors such as augmented and virtual reality technologies.
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Lyft is preparing to lay off more than 1,000 employees in a mission to cut costs and become profitable. This represents a 30% cut in staff numbers. Employees will hear more next Thursday.
IDC has said that monitor shipments in the fourth quarter of 2022 were at their lowest level since 2008 when the company first began tracking them. A slight recovery is expected to start in 2024.
Microsoft CEO Satya Nadella has confirmed that the company is laying off a massive 10,000 employees starting today. The company will be offering support to those affected by the job cuts.
E-commerce giant Amazon is planning to lay off around 10,000 employees in corporate and technology jobs as soon as this week. The job cuts will affect people in Amazon's devices org, including Alexa.
Twitter could face bankruptcy soon, depending on whether it can start to make money and based on how long the downturn lasts. As a first step, Elon Musk has been pushing for an $8 subscription model.
Salesforce decided to make less than 1,000 employees redundant earlier this week after it saw a decline in custom from small and medium-sized businesses, predominantly in North America and Europe.
Mark Zuckerberg has told executives in a meeting on Tuesday that layoffs will begin on Wednesday morning. Thousands of jobs are expected to go. Four months of salary will be paid as severance.
Amazon has said it'll be pausing incremental hiring to its corporate workforce for the next few months due to the state of the economy. Teams at Amazon will have to be more productive, too.
The storage company Seagate has announced that it's cutting 8% of its workforce to meet the demands of the current economic downturn. This translates to 3,000 job losses globally by mid-2023.
Sundar Pichai and other Google execs have been answering employees' questions at an internal meeting. Various expenses are being targeted for cuts as the firm tries to weather the economic storm.
Twilio has become the latest tech company to lay off employees. It's cutting around 866 jobs as it seeks to narrow down its focus. By concentrating its efforts, it hopes that it can be profitable.
Microsoft has launched a new data centre in Qatar. The company said it will help the country diversify its economy. It will create 36,000 new jobs and inject $18 billion in the country's economy.
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Sony announced earlier today that it is increasing the price of PlayStation 5 across pretty much all regions except the U.S. Microsoft says it has no plans to hike Xbox prices at this time at all.
Anonymous Accenture representatives have told Facebook contractors that they will have to let go of their work on the 2nd of September, with the option to reapply and no guarantee of being rehired.
Among the people who received a presidential pardon ahead of the annual Liberation Day this year is Samsung's Vice President, Jay Y. Lee. The pardon was allegedly given to help the economy.
Oracle is laying off staff in the United States. It's also planning to cut jobs in Canada, India, and Europe as it struggles to deal with a worse economy. Employees in SF Bay Area were affected.
Google has launched a Simplicity Sprint where it will attempt to boost productivity. The bad economy means that sales have dampened, and now it needs to be more productive with its resources.
The UK has unveiled a new Digital Strategy to ensure it becomes a tech superpower in the coming years. It emphasises a low regulation regime and closing the digital skills gaps that exist.
Vodafone has released a new report which suggests that the European Union could boost its GDP by 7.2% per capita by 2027 if member states further embrace digitalisation in their economies.
Virgin Media and the Centre for Economics and Business Research have published a report which calls on the UK to invest more in technology to see a £232 billion boost to the economy by 2040.
The UK government has announced £20 million in funding for technology that will help make the country more resilient against outbreaks of diseases such as COVID-19. Each project can get up to £50,000.
Mexico's economy ministry detected a cyber attack on Sunday. It has since increased its security measures, the company said in a statement. It believes that no sensitive information was compromised.
Apple has announced today a major expansion in the U.S., including a new campus in Austin in addition to its existing site in the area. The expansion is expected to create thousands of jobs.
Samsung has announced that it has joined the Partnership on AI, an industry consortium that looks at various aspects of AI. Samsung wants to focus on AI's impacts on safety, societies, and economies.
Stanford researchers led by Raj Chetty have been given access to data that Facebook holds on U.S. users. The fact that Facebook is sharing the data is raising questions about user privacy.
The Cupertino giant today announced it will be making a contribution of $350 billion to the U.S. economy over the next five years, creating 20,000 jobs and pay $38 billion in taxes to repatriate
Due to the strengthening of the US dollar, Microsoft has updated its pricing tiers for Windows Store apps and in-app purchases. Unfortunately this means prices in other currencies will be hiked.
Despite being a massive global retailer, Amazon has shocked with the announcement that they have recorded a loss for the quarter, due to increased spending on their own infrastructure.
After the government in Argentina passed a ruling to limit dependency on the US dollar, PayPal became the easiest method of converting. As a result, the functionality is to be pulled in Argentina.
Facebook's stock prices reached an all-time low on Tuesday's trading, having declined 43% since their initial availability in May. Stocks were trading at just over $20 on the markets during the day.
The result of the weakened global economy is being seen among console manufacturers, as sales figures decline during the first quarter of 2012.
Research in Motion could be sold in the near future; with the Canadian government having approved it, could an investor simply swoop in and buy them out?
The world's third-largest software maker could be having more internal issues than previously thought, with a previous explanation being questioned.
After only a year, the UK branch of Best Buy is to close. The company cites 'unprofitable operation', and the British-based Carphone Warehouse intends to close all eleven branches.
Oracle has been ordered to pay out in a settlement after supposedly lying in a contract dating back to 1998, by the General Services Administration.
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