Finance
Samsung Initiates Unprecedented Voluntary Retirement Scheme, Cutting Over 30% of Foundry Staff
November 04, 2024 – According to recent media reports, Samsung Electronics executives have revealed plans to implement an unprecedented four-round large-scale voluntary retirement program. This initiative is particularly targeted at the company’s continuously loss-making wafer foundry manufacturing team, with the 8-inch foundry manufacturing and technical team facing a reduction of over 30% in its workforce….
Tesla Shareholders Back Musk’s $56 Billion Pay Package, Awaiting Final Verdict
November 04, 2024 – The fate of Tesla CEO Elon Musk’s $56 billion compensation package will be decided by the end of this year. Kathaleen McCormick, Chancellor of the Delaware Court of Chancery, indicated on Thursday that she would make a final ruling by the end of 2024. In January of this year, McCormick had…
Chip Industry Shakeup: Apple, Samsung, and Qualcomm in Bidding War for Intel
November 02, 2024 – Reports indicate that in the race to acquire Intel, not only is Qualcomm deeply interested, but Apple and Samsung are also throwing their hats into the ring. For Qualcomm, which is currently embroiled in a dispute with Arm, the prospect of owning x86 IP is particularly enticing. Meanwhile, Apple, which already…
Data Tampering Scandal Hits Panasonic: 93 Cases of Impropriety Across 40 Factories
November 02, 2024 – According to NHK reports, a subsidiary of Panasonic Holdings responsible for electronic components has engaged in misconduct such as tampering with data when registering component materials with certification authorities. A total of 93 instances of irregular operations have been confirmed. In response, top executives of the company will voluntarily return part…
Volkswagen Seeks 10% Pay Cut from German Workers as Q3 Profit Drops 42%
November 01, 2024 – According to Reuters, Volkswagen has requested a 10% pay cut from its German employees on Wednesday, citing it as the only way to save jobs and maintain competitiveness amid falling profits and threats of strikes from the labor union. The company, which is facing a three-year low in profits, has not…
Microsoft Reports $246.67 Billion Net Income in First Quarter of 2025 Fiscal Year, Up 11% Year-Over-Year
October 31, 2024 – Microsoft has released its financial results for the first quarter of the 2025 fiscal year, revealing a significant growth in revenue and net income. According to the report, the company’s revenue for the quarter stood at 655.85billion,markinga16565.17 billion reported in the same period last year. This growth was consistent when excluding…
Intel to Lay Off Hundreds at Polish R&D Center
October 30, 2024 – According to a report by the Warsaw Business Journal on October 29, citing documents submitted by Intel to the local labor office, the technology giant is planning to lay off hundreds of employees at its research and development center in Gdansk, Poland. In response to the report, an Intel spokesperson in…
German Automotive Industry Faces Job Losses of Up to 186,000 by 2035 Amid Transition
October 30, 2024 – According to a recent study published by the German Association of the Automotive Industry (VDA) on Tuesday, the transformation of the German automotive industry could potentially result in the loss of up to 186,000 jobs by 2035, with approximately a quarter of those positions already eliminated. The study, conducted by Prognos…
Alphabet Reports $263.01 Billion Net Income in Q3, Up 34% YoY
October 30, 2024 – Alphabet, the parent company of Google, today released its financial results for the third quarter of fiscal year 2024, ended September 30. The report revealed that the tech giant achieved a total revenue of 882.68billion,markinga15766.93 billion reported in the same period last year. When adjusted for currency fluctuations, the growth rate…
Microsoft Hits Back: Google Accused of Manipulating Regulators and Public Perception
October 29, 2024 – In a recent 1500-word blog post, Rima Alaily, the Deputy General Counsel of Microsoft, accused Google of using unfair tactics to undermine Microsoft. Alaily detailed multiple instances where Google attempted to discredit Microsoft through competition regulators, policymakers, and by misleading the public. Despite Google’s offer of a nearly $500 million settlement,…