In 2024, the tech industry confronted considerable hurdles as over 149,000 employees lost their positions. Major companies such as Tesla, Intel, Cisco, and Microsoft made sweeping layoffs amid difficult economic circumstances, including inflation, consumer demand shifts, and budget cuts. These actions underline the rapidly changing nature of the tech job market in a fluctuating global economy.
Simultaneously, Intel announced the exit of its CEO, Pat Gelsinger, who had served for over 40 years. His departure signifies a substantial leadership change, with David Zinsner and Michelle Johnston Holthaus taking up the helm as interim co-CEOs. Frank Yeary, the Independent Chair of Intel’s board, has temporarily stepped in as interim executive chair guiding the company through this significant transition.
In a bid to tackle online scams, the Indian government’s Cyber Crime Coordination Centre blocked over 59,000 illicit WhatsApp accounts and 1,700 Skype IDs. This crackdown, part of the larger strategy to safeguard citizens from digital crimes, has sustainably decreased instances of financial fraud.
Meanwhile, VodafoneIdea (Vi) launched a spam-detection tool, which uses AI and ML to automatically flag potential spam messages. The system has identified over 24 million spam messages during testing, signifying its effectiveness in combating unwanted content.
In terms of executive security, Meta and Google spent 23.4 million and 6.8 million, respectively, on ensuring the safety of their CEOs, a fathomable figure considering the increasing emphasis on security in a world of rising public scrutiny and safety hazards.
The United States plans its third round of restrictions on China’s tech sector, targeting over 140 firms this time. The move is part of a larger effort to slow down China’s progress in cutting-edge semiconductor technology.
Lastly, Indian firms Swiggy and Myntra expanded their rapid delivery services. Swiggy’s super-fast 10-minute food delivery service, Bolt, is now active in over 400 cities in India, and Myntra introduced 30-minute fashion and beauty product deliveries with its MNow service.
