On Friday, the CEO of Alphabet- Google’s parent company, Sundar Pichai, informed staff that the company would cut 12,000 jobs as it faces “a different economic reality”. He said that the mass lay-off, which accounted for an estimated 6% of the workforce and affected both the company’s product lines and regions, were made after an internal review. This represents the greatest number of job cuts in Google’s history.
During the first two years of the pandemic, Google and other tech companies hired tens of thousands of new employees to benefit on an increase in demand for cloud services, e-commerce, and stay-at-home entertainment. However, that trend has been changed by increasing interest rates and the risk for a global economic downturn.
Commenting on this event, Susannah Streeter, an analyst at Hargreaves Lansdown said: “It is clear that Alphabet is not immune from the tough economic backdrop, with worries about a U.S. recession growing,”.
Streeter added: “Ad growth has come off the boil … Competition is also heating up, with Alphabet facing a powerful rival in TikTok, and Instagram also vying for its important YouTube viewers” .
According to Evercore ISIS analyst Mark Mahaney, Alphabet’s record-high headcount had created significant margin risk going into fiscal 2023. Bernstein analyst Mark Shmulik also said that the layoff could save the tech giant $2.5 billion to $3 billion in costs.
As Alphabet sought to infuse its products with more AI, Pichai said that this was the time to “sharpen our focus, reengineer our cost base and direct our talent and capital to our highest priorities”.
In the past week, Google has redoubled its efforts to reassure its users, employees, and investors that it remains the market leader. Pichai published a new blog post on his Twitter account on Wednesday that highlighted all the company’s most recent achievements in cutting-edge AI technology, including large language models and generative machine learning.
Google is apparently facing competition from Microsoft- its longtime rival, which wants to grow its stake in ChatGPT, a promising chatbot that provides human-like responses. According to the news website Semafor, Microsoft is in talks to spend an additional $10 billion in ChatGPT. Microsoft, which is far behind Google in terms of market dominance for search engines but has a larger cloud business, might leverage AI to develop new products and generate marketing buzz by partnering with the trending start-up.

With Alphabet’s job cuts, the recent employment losses at four of the largest U.S. tech companies have reached 51,000. Even while the U.S. job market is still tight, they have increased worries about a recession.
According to Stuart Cole, an economist at Equiti Capital, the tech industry is somewhat like the proverbial canary in the coal mine because recent layoffs point to a worsening future for employment prospects.
Subway, the world’s largest sandwich chain, is set to embark on a massive expansion plan in China, opening nearly 4,000 new stores in the country. This move will significantly increase Subway’s footprint in China, expanding it by more than seven times its current size.
The Michelin Guide, which began as a humble travel companion for motorists, has evolved into an iconic gastronomic authority. It continues to provide valuable recommendations and celebrate culinary excellence worldwide. The guide’s rigorous assessment criteria, dedicated inspectors, and unwavering commitment to quality and reliability have solidified its status as an indispensable resource for food enthusiasts and travelers alike. Let’s delve into the fascinating story behind the guide’s inception and explore the meticulous process that determines the coveted Michelin stars.
The culinary scene in Vietnam has reached new heights with the unveiling of the inaugural MICHELIN Guide Hanoi & Ho Chi Minh City. A total of 103 exceptional restaurants have been recognized for their outstanding cuisine, including four coveted MICHELIN Stars.
Microsoft has agreed to pay $20 million to settle charges brought against it by the U.S. Federal Trade Commission (FTC) for violating children’s privacy rights. The FTC accused the tech giant of illegally collecting personal information from children without parental consent through its Xbox gaming system.
Grab, the Singapore-based technology company, has come under scrutiny in Vietnam due to its financial practices. Recent revelations regarding substantial losses, unpaid taxes, and questionable financial transactions have raised concerns about Grab Vietnam’s operations and their impact on the Vietnamese economy.
According to Lonely Planet, Vietnam The Reunification Express is the most spectacular train journey in the world. Check out the link below to discover the whole list of Lonely Planet’s top rail excursions from around the world which gives you a unique perspective on various destinations.
By Rotation, a U.K.-based clothing rental app, is on a mission to combat the harmful effects of fast fashion by promoting peer-to-peer clothing rental as a mainstream practice in the United States. The startup recently expanded its services to the U.S. market and aims to establish a strong presence in New York City before expanding to other major cities next year.
In a turn of events for the crypto market, Bitcoin experienced a decline on Wednesday, marking its first down month of the year. The optimism that had fueled a rally surrounding the debt ceiling began to fizzle, causing the leading cryptocurrency to lose 2.77% and trade at $27,057.81, according to Coin Metrics. Ether, the second-largest cryptocurrency by market capitalization, also slipped 2.2% to $1,865.82.
The renowned chipmaker Nvidia has reached a significant milestone in its history by achieving a market capitalization of $1 trillion. This accomplishment places Nvidia in an elite group of companies on Wall Street, becoming only the ninth globally and the sixth currently holding such a distinction.
Codeword, a leading tech-marketing agency, has made history by hiring the world’s first AI interns. Aiden and Aiko, the AI interns, have been brought on board for a three-month trial internship, where they will work alongside Codeword’s team of 106 people. Aiko will be part of the design team, while Aiden will work with the editorial team.
-
Cultural differences between the East and the West
-
Vietnam received recognition in the 29th World Travel Awards in numerous categories
-
Vietnamese dishes that fascinate foreigners
-
First NFT vending machine in the world is now operational in New York
-
The LEGO Group today began construction on a new $1 billion factory in Binh Duong, Vietnam
-
19 DeFi Startups To Watch

Unmasking Instagram’s Algorithmic Network of Pedophiles: Safeguarding the Vulnerable

Bing’s Chatbot Takes a Leap: Introduces Voice Mode for Desktop Users

Unmasking Instagram’s Algorithmic Network of Pedophiles: Safeguarding the Vulnerable

Bing’s Chatbot Takes a Leap: Introduces Voice Mode for Desktop Users

Vibrant Activities in Ha Nam Cultural and Tourism Week 2023

Cultural differences between the East and the West

The Michelin Guide: Honoring Culinary Excellence and Unveiling Hidden Gems

MICHELIN Guide 2023 Unveils 103 Culinary Delights in Hanoi and Ho Chi Minh City

By Rotation: The Startup Revolutionizing Fashion with Peer-to-Peer Clothing Rental

Vietnamese E-Wallets Lead the Way: Embracing a Cashless Future

Talks with Leaders, Ep8: 1st AI Doctor Assistant in Vietnam provides 90+% correct diagnosis within 5s

Talks with Leaders, Special episode: Blockchain meets Metaverse, featuring business leaders, investors, tech experts and global influencers

Bing’s Chatbot Takes a Leap: Introduces Voice Mode for Desktop Users

Subway’s Massive Expansion: Plans to Open 4,000 Stores in China Signal Major Growth

Valentino Joins the Metaverse: An Exciting Partnership with UNXD

Bitcoin’s First Losing Month of the Year: Cryptocurrency Falls Ahead of Debt Ceiling Vote

Bitcoin’s First Losing Month of the Year: Cryptocurrency Falls Ahead of Debt Ceiling Vote

The Reunification Express in Vietnam Tops the List of Spectacular Train Journeys

By Rotation: The Startup Revolutionizing Fashion with Peer-to-Peer Clothing Rental

By Rotation: The Startup Revolutionizing Fashion with Peer-to-Peer Clothing Rental

Codeword Breaks New Ground: Introducing the World’s First AI Interns

The Michelin Guide: Honoring Culinary Excellence and Unveiling Hidden Gems

Vibrant Activities in Ha Nam Cultural and Tourism Week 2023

Cultural differences between the East and the West

By Rotation: The Startup Revolutionizing Fashion with Peer-to-Peer Clothing Rental
