The technology company Oracle has cut 21,000 jobs as a result of the adoption of artificial intelligence in its business model, and warns that the layoffs could continue.

According to the firm, the impact of AI on its workforce has been significant. It also mentions that “at the close of its last fiscal year, it had 141,000 full-time employees, 13% fewer than at the beginning.”

In the section on risk factors in its annual report, it states that “its periodic workforce restructurings and reorganizations can be disruptive.”

Adjustments will continue as part of the management and product changes, addressing some performance issues, “changes in strategies, acquisitions, and other internal and external considerations.”

M.Pino

Source: swissinfo

(Reference image source: Anastassia Anufrieva on Unsplash)

Follow our news on Google! For current, interesting, and accurate information, click here to see all the content on Bitfinance.news. You can also find us on X/Twitter and Instagram

La entrada Oracle announced 21,000 job cuts apareció primero en Bitfinance.

Disney CEO Josh D’Amaro announced this Tuesday, April 14, the layoff of at least 1,000 employees as part of the company’s ongoing restructuring process.

According to the executive, the areas most affected this time are marketing and branding, globally, as part of the adaptation to the changing entertainment industry.

The adjustment represents approximately 1 % of Disney’s total workforce, which currently has 231,000 employees.

 

Ver esta publicación en Instagram

 

Una publicación compartida por Agencia VN (@agenciavnews)

M.Pino

With information from international media

(Reference image source: Héctor Vásquez on Unsplash)

Follow our news on Google! For current, interesting, and accurate information, click here to see all the content on Bitfinance.news. You can also find us on X/Twitter and Instagram

La entrada Disney starts new wave of layoffs apareció primero en Bitfinance.

Amazon will make another massive cut to its workforce, estimated at 16,000 jobs, arguing that it needs to reduce bureaucracy, eliminate layers to strengthen the organization, and concentrate on artificial intelligence.

This reduction in positions at the company is the second since October 2015, when Amazon announced the first layoffs.

However, Beth Galetti, Amazon’s senior vice president of people experience and technology, indicated that “while these adjustments are being implemented, we will continue to hire and invest in strategic areas and functions crucial to our future. We are still in the early stages of developing each of our businesses and have great potential ahead.”

Amazon will focus on AI as one of the main features of the increasingly changing business world.

M.Pino

Source: bolsamania

(Reference image source: Daniel Nyoka on Unsplash)

Follow our news on Google! For current, interesting, and accurate information, click here to see all the content on Bitfinance.news. You can also find us on X/Twitter and Instagram

La entrada Amazon to cut more jobs to focus on AI apareció primero en Bitfinance.

Intel announced the dismissal of 15 % of its workers after recording losses in the order of $1.6 billion. The company argues that this is a global plan to save $10 billion in costs by 2025.

The company’s CEO, Patrick Gelsinger, announced the measure, indicating that it will be implemented at the end of the year. He noted that “the company must adjust its cost structure to a new operating model and radically change the way it operates.”

Intel’s revenue has not increased as expected. Furthermore, costs are too high and margins too low, according to Gelsinger.

When referring to the company’s cost structure, the director stressed that “Intel’s annual revenue in 2020 was about $24 billion higher than last year, but its current workforce is 10% larger than then.”

Hence, the proposed changes by reducing the workforce at its facilities for significant cost savings next year.

M.Pino

Source: noticiaslatam

(Reference image source: BoliviaInteligente in Unsplash)

Visit our news channel on Google News and follow us to get accurate, interesting information and stay up to date with everything. You can also see our daily content on Twitter and Instagram

La entrada Intel announces layoffs over $1.6 billion loss apareció primero en Bitfinance.

The update of Google’s search algorithm and spam filters, at the beginning of the year, has led to the closure of many websites that make a living from online sales, in addition to the dismissal of staff.

The drastic reduction in traffic to these sites on the Internet, and the subsequent drop in sales, has led to the closure of many portals, and the start from scratch with a new domain.

Google has noted that its update “was specifically designed to provide users with fewer results that look like they were made for search engines,” based on results of its experiments in this regard.

Some of the affected sites, including digital newspapers, have indicated that they are desperately looking for alternatives to not rely on Google searches, such as writing “newsletters, making podcasts or trying to find other ways to attract audiences.”

M.Pino

Source: swissinfo

(Reference image source: Arkan Perdana in Unsplash)

Visit our news channel on Google News and follow us to get accurate, interesting information and stay up to date with everything. You can also see our daily content on Twitter and Instagram

La entrada Change in Google algorithm affects small online business owners apareció primero en Bitfinance.

On May 1st, Workers’ Day is celebrated. Nations remember labor demands, marches and declarations are organized, in a scenario marked by high unemployment rates, increase in informal work, use of AI to replace humans and pension reforms.

In January of this year, the International Labor Organization published its World Employment Report and Social Outlook: Trends for 2024. There it indicated that some 435 million workers would be looking for work in 2024.

In that document, the organization also showed that despite a reduction in the unemployment rate after the Covid-19 pandemic, “wages have decreased in most G20 countries, since positive results have not been possible” keep pace with inflation. According to the United Nations agency, the outlook is worrying and is unlikely to improve in the short term.

At a global level, the working force demands better salaries that allow them to cover their basic needs and escape precariousness. On the other hand, they request the creation of more jobs, taking into account that the world rate in this area could reach 5.2 % this year, according to the ILO report.

Low wages are widening the gap between the economic and social systems, marked by a worsening of citizens’ living standards.

The increase in the prices of goods and services and taxes, in addition to the conflicts generated by the restructuring of pension systems, keep workers on alert, who always end up at the least favored end of the production chain.

According to the ILO, one of the greatest challenges in the labor aspect is the equitable and fair transition towards a sustainable future, for which a greater effort by governments to improve the quality of life of the population through multilateral development funds is recommended. support for the most fragile economies, the creation of quality jobs, promotion of social inclusion, among others.

The use of new technologies, particularly Artificial Intelligence, is not foreign to labor discussions. Currently, AI is seen more as a threat to the stability of workers than as a help, given that thousands of people are being replaced by humanoid robots or digital systems that automate production chains in minutes. In this sense, the working masses focus on the ethical use of AI, the protection of jobs through a reorientation of the use of this technology and the timely discussion of a method of inserting humanoid robots that does not harm the race. human.

M.Pino

With information from international media

(Reference image: Josh Olalde in Unsplash)

Visit our news channel on Google News and follow us to get accurate, interesting information and stay up to date with everything. You can also see our daily content on Twitter and Instagram

La entrada Wages and unemployment, two key issues on International Workers’ Day apareció primero en Bitfinance.

The decision by the state of Texas to replace 4,000 examiners with Artificial Intelligence has generated controversy around the use of this technology and the displacement of human labor.

Those affected are professionals who are in charge of evaluating knowledge in the areas of writing, reading, science and social studies of the STAAR, a state exam that students under 18 years of age must take.

According to local media The Texas Tribune, AI will save the state between 15 and 20 million, despite leaving so many workers unemployed.

This is confirmation of the fear that AI has generated so much in recent times, because for many employees it does not become a complement or assistant, but rather displaces the human.

AI-powered machines do not require a salary, they do not get sick; they do not require permits, nor can they express their opinion or claim union or other rights.

Given the decision of the state of Texas, José Ríos, director of student evaluation at the local Education Agency, questions the savings to the state in salary payments versus leaving 4,000 people unemployed overnight.

M.Pino

Source: eleconomista

(Reference image source: Unsplash+, in collaboration with Valeria Nikitina)

Visit our news channel on Google News and follow us to get accurate, interesting information and stay up to date with everything. You can also see our daily content on Twitter and Instagram

La entrada Texas replaces 4,000 examiners with an AI apareció primero en Bitfinance.

Banco Santander applied a reduction in its workforce of 2.7 %, equivalent to some 320 employees who now join the ranks of the unemployed in the United States.

The side of Spanish origin decided to reduce jobs specifically in the retail banking operations sector. According to a source close to the bank, the move is part of a new focus on digital operations.

According to Bloomberg, the bank indicated: “We are evolving our business in the US, investing in digital capabilities and simplified processes to adapt to changing customer needs.”

Banco Santander is in a restructuring process aimed at a greater presence in the global market. This implies the standardization of processes so that “all territories can take advantage of the entity’s best practices, which is why digital operations gain weight. Even more so in markets where its position is not a leader, as is the case in the United States, for example.”

The strategy in the country is aimed at signing renowned bankers, a strategy that in the last year has amounted to around 200 hires.

M.Pino

Source: cincodias

(Reference image source: @merca2_es, X)

Visit our news channel on Google News and follow us to get accurate, interesting information and stay up to date with everything. You can also see our daily content on Twitter and Instagram

La entrada Banco Santander lays off more than 300 employees in the United States apareció primero en Bitfinance.

PayPal, the global digital payments giant, would have laid off about 2,500 employees today, in order to reduce operating costs and maximize profit margins.

PayPal cuts payroll An employee of the company who attended a meeting confirmed this, saying that among the fired are members of engineering, research and development teams, Watcher Guru reported.

The employee’s information matches what was seen today among some affected employees, who updated their LinkedIn profiles and shared the news with their contacts.

Some noted that the move was driven by the company’s new CEO, Alex Chriss, who took over the helm of PayPal in September last year and seeks to maximize the company’s profits.

The curious thing about this move is that it comes days after Chriss participated in an interview for CNBC, where he spoke briefly about PayPal’s new plans and said that they would “surprise the world” with what they have planned.

It should be noted that PayPal is not the only technology company that has decided to cut its workforce to save costs. 2023 was full of many organizations in the crypto sector that took similar steps, and the most recent to do so was Block, the Blockchain payments and development company led by Jack Dorsey, which laid off an undetermined number of employees this week.

K. Tovar

Source: DiarioBitcoin

(Reference image source: Marques Thomas, Unsplash)

Visit our news channel on Google News and follow us to get accurate, interesting information and stay up to date with everything. You can also see our daily content on Twitter and Instagram

La entrada Paypal laid off about 2,500 employees apareció primero en Bitfinance.

In a recent statement, Google revealed its plans to build a billion-dollar data center near London as part of its ongoing expansion in the UK.

This new data center will be instrumental in supporting the company’s various services, including Google Cloud, Search, Maps and YouTube. According to the Google blog post, the sprawling 33-acre site will not only generate jobs for workers on site, but also for those involved in the construction phase.

In addition, Google has set an ambitious goal for this data center: to operate carbon-free by the end of the decade. In the company’s words, “We have set the goal of operating all our data centers and campuses with carbon-free energy (ELC), every hour of every day by 2030.”

Despite this significant expansion, Google faced massive layoffs earlier this year, with plans to continue staff cuts throughout the year. Google CEO Sundar Pichai justified these cuts, highlighting the need to build capacity to invest even more in priority technologies, such as artificial intelligence.

In 2023, the company laid off more than 12,000 employees after pledging to reduce its overall workforce by 6%. Pichai notes that the expectation for 2024 is to lay off fewer employees compared to the previous year.

K. Tovar

Source: Cointelegraph

(Reference image source: Fimbee.com, Unsplash)

Visit our news channel on Google News and follow us to get accurate, interesting information and stay up to date with everything. You can also see our daily content on Twitter and Instagram

La entrada Google will build a data centre in London apareció primero en Bitfinance.