Apple Inc.'s iMessage and Microsoft Corp.'s Bing search engine, Edge web browser and Advertising service will avoid strict new European Union rules reining in Big Tech platforms.
25.01.2024 - 04:15 / tech.hindustantimes.com / Dan Clancy
A bunch of companies in the technology sector have been laying off some of their employees recently after quickly ramping up hiring during the COVID-19 pandemic while people spent more time and money online. Now, many of them are making job cuts to help lower costs and bolster their bottom lines. Here's some of the companies that have laid of employees of late:
Google said it was laying off hundreds of employees working on its hardware, voice assistance and engineering teams. The cuts follow pledges by executives of Google and its parent company Alphabet to reduce costs. A year ago, Google said it would lay off 12,000 employees or around 6% of its workforce.
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Video game developer Riot Games, which is behind the popular “League of Legends” multiplayer battle game, is trimming 11% of its staff. The company, which is owned by Chinese technology giant Tencent, said 530 jobs were being eliminated, accounting for about 11% of its headcount. The Los Angeles, California-based Riot Games said that it had expanded its investments across too many areas, doubling its staff in a few years, and now was cutting back to focus on games.
TikTok said its shedding dozens of workers in its advertising and sales unit. A spokesperson for the company confirmed that the social media platform is cutting 60 jobs. TikTok, which is owned by Beijing-based ByteDance, did not provide a reason for the layoffs.
Online retailer eBay Inc. will cut about 1,000 jobs, or an estimated 9% of its full-time workforce, saying its number of employees and costs have exceeded how much the business is growing in a slowing economy.
Twitch, which is owned by Amazon, is cutting more than 500 jobs in a bid to save on costs. The video streaming platform's CEO Dan Clancy said in an email to employees that even with cost cuts and growing efficiency, the platform “is still meaningfully larger than it needs to be given the size of our business.”
Amazon-owned online audiobook and podcast service Audible is laying off about 5% of its workforce. A spokesperson for Audible declined to provide the number of employees who will be affected by the cuts. In a memo sent to employees, Audible CEO Bob Carrigan said that the company is in good shape, but faces an “increasingly challenging landscape.” In addition, Amazon's Prime Video and MGM Studios unit, is trimming hundreds of employees as it cuts back in areas that are not delivering.
Music streaming service Spotify said in December that it was cutting 17% of its global workforce as it moved to slash costs while focusing on becoming profitable. A spokesperson confirmed that the layoffs amount to about 1,500 people. It was the company's third round of layoffs last year.
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Apple Inc.'s iMessage and Microsoft Corp.'s Bing search engine, Edge web browser and Advertising service will avoid strict new European Union rules reining in Big Tech platforms.
2024 has already proven to be a difficult year for layoffs. A handful of companies have been making job cuts in recent weeks, bringing uncertainty for workers across industries.
Ruiner developer Reikon Games has reportedly laid off 60 to 70 people, or roughly 80% of its workforce, according to Kotaku.
Major technology companies pouring money into artificial intelligence could come to dominate the emerging technology, Aleph Alpha GmbH Chief Executive Officer Jonas Andrulis said.
The new year continues to be a difficult one for the games industry, with Riot Games announcing layoffs affecting about 11% of their global workforce, or around 530 people. The company is also trimming its portfolio, shutting down Riot Forge, pulling back on some other projects, and recentering on its four core live titles: League of Legends, Teamfight Tactics, Valorant, and Wild Rift.
Hytale, the spiritual successor to Minecraft, hasn't been impacted by the layoffs at Riot.
Riot Games is laying off about 530 employees, which represents 11% of its workforce, the Tencent-owned company announced on Monday. The League of Legends maker is also sunsetting its five-year-old publishing group, Riot Forge.
Riot Games have announced that they will shortly lay off "about 530" people, or 11 per cent of their global workforce, so as to "create focus and move us towards a more sustainable future", in the words of CEO Dylan Jadeja. The "biggest impact" will be felt outside of core development, though they'll affect at least one major internal team - the developers of Legends Of Runeterra. Riot are also binning off the Riot Forge publishing label, under which third-party developers create smaller-scale games based on Riot's own intellectual properties.
Riot Games, the publisher-developer company behind League of Legends, has announced that it is laying off 530 employees. Plus, it's ending new game development under its Riot Forge arm, which produced third-party-developed games with the «A League of Legends Story» tag, like Ruined King, The Mageseeker, Song of Nunu, and the upcoming Bandle Tale, which will be the last in this line of releases.
Riot Games announced another big round of layoffs for the second year in a row. This time around, the studio mainly known for the League of Legends franchise plans to remove 11% of its large workforce. Around 530 employees will lose their jobs, although they will get benefits such as six months of severance pay at minimum, cash bonuses, and others.
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Riot Games has announced plans to lay off 530 of their employees, or about 11 % of their workforce.