Meta suspends plans to hire new employees
According to a memo to employees from Meta CEO Mark Zuckerberg, the company plans to further freeze hiring and restructuring in light of the uncertain economic situation. “I had hoped the economy would have more clearly stabilized by now, but from what we’re seeing, it doesn’t yet seem like it has, so we want to […]
U.S. tech IPO market faces slowdown
According to Refinitiv data, the IPO market for U.S. technology companies was the worst since the 2008 financial crisis, owing to a variety of economic factors including stock market volatility, interest rate hikes, and rising inflation. Moreover, this year’s IPOs of U.S. technology companies attracted the lowest market valuations since the 2008 global financial crisis. […]
Apple senior executive resigns after viral TikTok video
Tony Blevins, Apple’s vice president of procurement, responsible for striking deals with suppliers and partners, is leaving the company, the company confirmed without elaborating. He is expected to leave after a TikTok video of him making a crude remark about women went viral. In the video, Blevins was quoted as saying, “I have rich cars, […]
IT companies prepare for recession with budget cuts
IT companies around the world are mentally preparing for a recession as annual inflation remains stable at around 8% and interest rates rise. In the midst of this development, a number of IT companies are expected to cut their budgets, while the majority of companies will increase their technology budgets. “In hard economic times, you […]
Atlassian unveils new features for its collaboration products
Atlassian, a provider of collaboration and application development software, has implemented a number of major product updates, including new unified administration controls, smart links and a subscription service for Trello, Confluence and Jira Work Management. Atlas, the new directory service for teamwork announced in April, will also be widely available from next month, according to […]
