Alibaba Group Holding is scaling down its metaverse operations, according to a source familiar with the matter, making it the latest Big Tech company to pull back resources from the once-popular sector. Dozens of employees at Yuanjing, the metaverse unit of e-commerce giant Alibaba, have been laid off, as part of a restructuring that aims … Read more
Two sources familiar with the matter earlier told Reuters that more than 700 jobs were slashed in Malaysia. TikTok later clarified that less than 500 employees in the country were affected. The employees, most of whom were involved in the firm’s content-moderation operations, were informed of their dismissal by email late on Wednesday, according to … Read more
Intel has launched a new graphics processing unit (GPU) for cars in mainland China, as the US chip giant doubles down on the world’s largest electric vehicle market amid its slumping growth and intense competition in advanced semiconductors. The company’s new Arc Graphics for Automotive discrete GPU, designed to power in-car artificial intelligence (AI) capabilities, … Read more
“Reluctantly, we will bid farewell to many valued members of the Daraz family,” acting chief executive James Dong said in an internal memo published on the company’s website on Tuesday. Alibaba, owner of the South China Morning Post, acquired Daraz in 2018. “Despite our efforts to explore different solutions, our cost structure continues to fall … Read more
“We had a good quarter as our community and business continue to grow,” Meta CEO Zuckerberg said in an earnings release. Meta shares jumped more than 14 per cent to top US$445 in aftermarket trade. A year ago, after a catastrophic 2022 for Meta, Zuckerberg promised a “year of efficiency”. Meta, TikTok and X CEOs … Read more
eBay will cut about 1,000 jobs, or 9 per cent of its full-time employees, and reduce work for its outside contractors, saying its staffing and expenses have outpaced growth. The e-commerce company said it needs to be “more nimble” in the face of a “challenging” economic environment. “While we are making progress against our strategy, … Read more
Arm Holdings has recently laid off over 70 software engineers in China though it will relocate some of the roles outside of the Asian nation, according to people with knowledge of the move. The British firm’s actions mirrored those of major chip companies including Qualcomm that have cut back on the global staffing level earlier … Read more
