Media Chinese International Ltd, a Malaysia-based media group, announces a 44% staff reduction to cut rising publishing costs, affecting nearly 800 employees.
The company plans to leverage AI to monetize digital content and further reduce costs.
This move highlights the ongoing challenges in the media industry.
“In a fresh blow to the tech and entertainment industries, Pixar, a unit of Walt Disney Co., told the state’s labor agency that it would cut 181 jobs in Emeryville.”
#HotDocs is expected to publicly announce the #layoffs and closure of its #TedRogersCinema on Wednesday afternoon, changes which it says are necessary "to address urgent #financial challenges."
⚡Tesla's Supercharger Changes Tell the EV Industry: Fend for Yourselves
— Business Insider
"I got a bounce from every email address," said Andres Pinter, a co-CEO of Bullet EV Charging Solutions, which has about a dozen projects underway for Tesla. Other contractors, he said, may be in trouble if they don't have non-Tesla projects to fall back on."
Tesla charging chief Rebecca Tinucci cut 15-20% of her team after Musk demanded it.
She felt that would justify a major Supercharger network expansion, but when she met with Musk he wanted more layoffs. When she pushed back, he fired the whole team.
@parismarx This jumped out at me:
“Tinucci was one of few high-ranking female Tesla executives. She recently started reporting directly to Musk, following the departure of battery-and-energy chief Drew Baglino, according to four former Supercharger-team staffers. They said Baglino had historically overseen the charging department without much involvement from Musk.”
The consistent theme: Musk’s businesses succeed (only) when they are insulated from him.
Layoffs are hitting workers at some tech giants like Google, Microsoft and Tesla. Here’s why that may backfire, explains Business Insider’s Tim Paradis. "In short, the effects of layoffs can counter the financial benefits of expenses carved out of a P&L." https://flip.it/KibAk7 #Tech#Career#LayOffs#Google#Microsoft#Tesla
your bet on who is next to be shuttered down?
my bet is #Arkane Lyon and #Rare (Sea of Thieves). both of them make high-quality games (Arkane: DEATHLOOP, Dishonored 1/2/DotO; Rare: #SeaOfThieves) and are NOT money behemoths, so they are likely the next target
I do wish I could tell recruiters that I’ll never apply to a company that reports record profits and also lays people off.
Like why are we wasting each others time talking about corporate mottos and exciting projects? Your leadership treats people like disposable cups. That’s all I need to know.
"Google went from you have to be in Mountain View at least three days a week to do this job to you can do it from India and Mexico in less than a year."
/s: The #BeEvilCompany ist doing it again. Well, how could a company that profits off manipulating search results ever be honest?
Besides, this will not be for long. I'm already waiting for the headlines heralding in mass layoffs through #AI automation./s
I talked to a friend from IT working in Europe, planning to move to the #US because salaries are a lot higher.
That being so, in a capitalist system, an international arbitrage of labor was to be expected.