The massive job cuts among the big US technology companies have gained new intensity in the last week, after the announcement of thousands of layoffs by Microsoft and Google, and the communication of the departure of thousands of workers from Amazon, in response to the weakening of activity after the hiring ‘boom’ driven by the pandemic.

In this way, Alphabet, the parent company of Google, has been the last of the big technology companies to announce a massive workforce adjustment by announcing this Friday that it will cut around 12,000 jobs worldwide, a figure close to 6 % of the total. , to address weakening economic conditions.

“We have decided to reduce our workforce by approximately 12,000 positions”, confirmed the CEO of the company, Sundar Pichai, who explained that in the last two years the multinational had undertaken a hiring policy “to match and feed” the spectacular growth experienced in that period. “We hire for a different economic reality than the one we face today,” he acknowledged.

Previously, last Wednesday, it was Microsoft that announced that it will undertake a series of measures in response to macroeconomic conditions, including cutting some 10,000 jobs, slightly less than 5% of its workforce, assuming an extraordinary adverse impact of 1,200 million dollars (1,109 million euros) in its accounts for the second fiscal quarter, which it will announce on January 24.

That same day, according to the US press, the electronic commerce giant Amazon began notifying its departure to the workers affected by a new round of layoffs, which added to the adjustment at the end of last year, will reach 18,000 jobs.

Tech companies suffer as they seek to reduce costs with layoffs

The latest workforce cuts among US technology companies reflect the cooling of the sector, after years of record activity as a result of the boost derived from the containment measures of the Covid-19 and the new consumption habits, in addition to the impact of the evolution of prices and costs.

In this way, in the last stretch of last year several companies in the sector had already announced massive layoffs, such as Meta, owner of Facebook, Whatsapp and Instagram, which reported a cut of 11,000 jobs last November, around 13 % of your overall workforce.

Likewise, other multinationals had reported the departure of thousands of workers, including Salesforce, with some 7,000 workers, around 10 % of its workforce; Twitter, around 3,700 jobs; Stripe, about 1,100 workers; Shopify and Snap, around a thousand each; the broker Robinhood, another 1,100 jobs.

Cryptocurrency sector also makes layoffs

On his side, in addition to the crisis in the technology sector, the so-called ‘crypto winter’ as a result of the default of the Three Arrows fund and the bankruptcy of the FTX platform has triggered a domino effect with the declaration of suspension of payments of several entities linked to the crypto assets, as well as blocking withdrawals and layoffs.

In this sense, firms such as Crypto.com have communicated the suspension of half a thousand jobs, while the Coinbase platform will eliminate 950 jobs, after eliminating another 900 last summer.

In turn, Silvergate Capital will carry out a workforce adjustment that will affect 40 % of its employees, which will mean the departure of some 200 people after suffering a massive outflow of deposits in the fourth quarter of 2022.

Source: dpa

(Reference image source: dpa / Europa Press)

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 Massive layoffs among US tech giants continue apareció primero en Bitfinance.

Through a press release, the Central Bank of Spain (BDE) announced on Monday that it will start testing a CBDC oriented to retail payments.

According to the statement, the entity invited financial institutions and technology service provider companies to participate in the tests in this area.

The BDE “classifies these coins as tokens running on a distributed technology platform and affirms that this collaboration will be done through the program.” The statement makes it clear that the tests are not linked to “the work carried out in the eurozone as part of the investigation into the retail CBDC, the so-called digital euro.”

Trials with the retail CBDC are conducted in three stages. First, a flow of funds simulation is launched on w-CBDC; next, we will proceed to try to “combine these currencies with the liquidation of financial assets”, and, finally, the pros and cons of launching wholesale CBDCs in the traditional financial infrastructure will be analyzed.

M.Pino

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

Source: criptoperiódico

La entrada Central Bank of Spain will test digital currency apareció primero en Bitfinance.

The veto of Chinese technology companies continues. The United States Department of Commerce added a dozen new Chinese technology companies to its “blacklist” by blocking them commercially on the grounds of national security, as did the administration of former President Donald Trump with Huawei.

The information was provided by Gina Raimondo, Secretary of Commerce, in a statement where she states: “World trade must support peace, prosperity and well-paying jobs, not risks to national security.”

The new preliminary list includes a total of 27 organizations from China, Japan, Pakistan and Singapore. It also highlights that some of these companies are based in China and Pakistan and have identified relationships with “nuclear and ballistic missile programs”. Chinese companies, in particular, “would be contributing to military technology projects for quantum computing for the Chinese army.

Control measures

Chinese companies joining the veto are Hangzhou Zhongke Microelectronics Co., Ltd., Hunan Goke Microelectronics, Corad Technology Limited, New H3C Semiconductor Technologies Co., Ltd., Xi’an Aerospace Huaxun Technology, Yunchip Microelectronics, Hefei National Laboratory for Physical Sciences at Microscale, QuantumCTek Co, and Shanghai QuantumCTeck Co.

Perhaps these organizations do not have the global popularity of Huawei or Xiaomi, however, they have an important participation within the information technology and telecommunications sector that has allowed them to carry out projects with the military organizations of countries such as China and Pakistan.

M. Rodríguez

Source: fayerwafer

La entrada US continues to veto China’s tech companies apareció primero en Bitfinance.