Tech industry

Finance minister Nirmala Sitharaman is presenting the Union Budget 2023 in the parliament. Here are some key talking points that could impact the tech industry , startups and more - The agriculture accelerator fund encouraged the agritech startups in rural areas. -The government proposes to set up a national digital library for children and adolescents to make up for the learning loss during the pandemic. - Digital payments worth Rs 1.26 lakh crore via UPI were done in India in 2022. A total of 7,400 crore digital payments were made in 2022. - In January 2023, UPI clocked more than 8 billion transactions in a month for the first time. (Developing story) Follow Gadgets Now on Facebook and Twitter .   For the latest news , tech news ,   breaking news headlines and live updates checkout Gadgetsnow.com Facebook Twitter Linkedin … [Read more...] about Union Budget 2023: All that it has for the tech industry

2023 is shaping up as a challenging year to be a woman or minority working in the tech sector, or even a person with one too many years under their belt. Surging firings by technology companies last year are disproportionately affecting women and mid-career talent which may make it more difficult to improve diversity in one of the most sought-after industries, according to data from a research firm. In recent years, US tech majors have stepped up hiring and made diversity, equity and inclusion (DEI) a priority. But as the industry grapples with over-hiring since mid-2020, rising interest rates and changes in business and consumer behavior, tech companies have announced deep cuts, risking their diversity efforts. Read Also Startups spring from ashes of Big Tech purge Internet providers warn against EU plans to make Big Tech cover telcos costs Amazon.com Inc's layoffs will now include more than 18,000 roles as part of a workforce … [Read more...] about tech: Big tech layoffs may further disrupt equity and diversity efforts

The city of Chicago, Illinois, in partnership with big business, is launching an effort to score jobs for foreign H-1B visa workers who have been laid off from their tech jobs in recent weeks. The city’s World Business Chicago group, which is a public-private firm, has joined P33, the Chicago Chamber of Commerce, the Corporate Coalition of Chicago, and others to fill jobs at companies like Caterpillar, Illinois Tech, John Deere, Ulta Beauty, and Walgreens with foreign H-1B visa workers who have recently been laid off. On average, about 1,600 tech workers are being laid off every day, with multinational corporations like Amazon, Google, Salesforce, Facebook, and Microsoft announcing employee cuts. A sizeable portion of these layoffs, an estimated 80,000 , are foreign workers who arrived on H-1B and L-1 visas and who are now scrambling to stay in the United States. Chicago is looking to help those foreign H-1B visa workers stay in the U.S. by landing them new tech jobs in … [Read more...] about Chicago Launches Effort to Score Jobs for Foreign H-1B Visa Workers Laid Off from Tech Industry

Tech majors like Amazon , Meta and Google have been the biggest investors in clean energy , including wind and solar power. According to a report by an industry group, named the American Clean Power Association (spotted by CNBC), Amazon, Facebook's parent company Meta and Google which is a subsidiary of Alphabet have been listed as the top three corporate purchasers of wind and solar energy. Here are the details about the clean energy purchases made by different countries: Clean energy purchase: How much did each company buy As per the report, these companies announced their plans to buy wind and solar power last decade. Up until September 2022, Amazon had contracted 12.4 gigawatts of clean (wind and solar) energy in the US. On the other hand, Meta managed to buy 8.7 gigawatts and Google bought 6.2 gigawatts of clean energy. These figures indicate that the technology sector is outpacing other industries in buying clean power. However, the … [Read more...] about tech: Tech giants and clean energy: Amazon, Meta, Google biggest buyers among other companies

The big picture: Many tech companies saw record profits during the pandemic, which prompted them to increase investments and rapidly expand their workforce. However, with rising fears of a global recession, more and more have recently announced mass layoffs affecting thousands of employees. In the first three weeks of this year, over 100,000 workers in the tech industry have lost their jobs. A new report shows that severance packages vary greatly from one tech giant to another. On Friday, Google parent Alphabet announced it was laying off 12,000 employees, about 6 percent of its global workforce. According to an SEC filing , severance packages for US employees include 16 weeks of salary and accelerated share vesting plus an additional two weeks for every year of employment at the company. Laid-off employees will also receive their 2022 bonuses, paid vacation time, and six months of healthcare. At the beginning of the year, Amazon confirmed it planned to let go … [Read more...] about These are the severance packages tech giants like Google, Meta and Amazon are offering to fired employees

What goes up must come down, the tech industry is feeling that law right now. From historically low PC sales to depressing waves of layoffs hitting big names like Google , Microsoft , Amazon , and HP , companies are having to readjust after getting used to business-fueling pandemic conditions like lockdowns and working from home. The latest is Logitech, one of the kings of the tech pandemic boom, which is painting us another picture of the downsides that come with those short-lived highs. On Monday, Logitech announced its Q3 fiscal year 2023 results, which covers the three-month period ending December 31, 2022. Sales fell 22 percent compared to Q3 of the prior fiscal year. This includes drops in PC webcams (49 percent decline), audio and wearables (34 percent), mobile speakers (32 percent), keyboard and keyboard combos (22 percent), and pointing devices (14 percent). In the nine-month period ending on December 31, Logitech saw a 16 percent decline in year-over-year net … [Read more...] about PC peripheral makers are feeling tech’s pandemic boom hangover too

Indian Institute of Technology Madras ( IIT Madras ) students will organize a Space Tech Summit as part of the annual technical festival Shaastra to promote innovation and collaboration in the sector. After a gap of two years, Shaastra 2023 which is among the largest student-run technical festivals in the country, will be conducted in physical mode this year from January 26 to 29 2023. Besides Indian Space Research Organization (ISRO), IIT Madras students are partnering with the top space-tech entities in India, such as GalaxEye Space, and AgniKul Cosmos, for the Space Tech Summit. It will also bring together top minds in space industry and provide a platform to network through a series of professional workshops, interactive lectures, panel discussions, and VC pitching sessions, among others. Workshops will also be held on technologies such as machine learning, robotics, astronomy and Web 3.0 besides management and finance, among others. ‘Symbiosis 2023,’ a … [Read more...] about iit: IIT Madras students to organise Space Tech Summit

As tech companies continue to slash jobs, the demand for tech positions has not diminished in the US, with eight of the top 10 "best jobs" this year being technology roles. According to data by job portal Indeed, the tech jobs in high demand are full-stack developers at the top spot, followed by data engineers, cloud engineers, senior product managers and back-end developers, among others. Almost half, about 44 per cent, of the top 25 were tech jobs in the US market, reported CNBC, citing the data. Read Also President Joe Biden 'personally' understands impact of layoffs on family: White House Get prepared for deeper layoffs in 2023, predict business economists All jobs on Indeed's annual list "pay annual salaries that are above the national average". At least 10 per cent of advertised positions offer remote or hybrid work. Industries like retail, finance, professional services, travel, government, aerospace, health care are … [Read more...] about Tech jobs: Tech jobs still hot in US amid mass layoffs, finds report

EU industry chief Thierry Breton told Twitter owner Elon Musk to do more in the next few months to fully comply with the bloc's online content rules. "I welcome the effort that Twitter is making to be in line with Europe 's objectives, while acknowledging that the next months will be crucial," Breton said after a video call with Musk . Read Also Here's what Twitter lost in advertising revenue in final months of 2022 Twitter to soon offer tweet-level analysis to advertisers "We need to see more progress towards full compliance with the DSA. My team will follow closely the work made by Twitter and by all other online platforms," according to a readout of the call. Facebook Twitter Linkedin … [Read more...] about twitter: EU’s Breton tells Twitter to do more to comply with bloc’s tech rules

Crypto.com said it would be reducing about 20 percent of its workforce, as cryptocurrency exchanges face industry-wide challenges brought on by the collapse of FTX last year. The Singapore-based company's announcement comes amid concerns about reserves and solvency across the sector, and only a few days after rival exchanges Coinbase Global Inc and Huobi announced their plans to lay off about 20 percent of their staff. A source told Reuters last week that Genesis , too, had cut jobs, equating to 30 percent of its workforce. The layoffs at Crypto.com would be its second in about six months, after it reduced jobs in July last year to weather the macroeconomic downturn amid rising interest rates. Read Also Bahamas regulator holds FTX assets pending delivery to customers, creditors FTX customers ask bankruptcy court to keep their names secret The recent FTX collapse "significantly damaged trust in the industry," Crypto.com … [Read more...] about ftx: Crypto.com to cut 20 percent jobs as industry rout deepens after FTX collapse