Xiaomi hit by slowdown in smartphone market, revenues down 10 percent

Chinese smartphone company Xiaomi’s quarterly revenue fell by around 10 percent. The slowdown in the global smartphone market and declining demand in China have affected the company’s sales. Sales of its mobile devices fell by around 11 percent. The company’s sales during July-September were 70.5 billion yuan (about Rs. 80,900 crore). Xiaomi’s sales are slightly … Read more

Ministry of Labor issues notice to Amazon regarding retrenchment of workers in India

The Labor Ministry has sought a response from e-commerce giant Amazon on layoffs in India. Amazon plans to cut workforce at global label For this the company has offered Voluntary Separation Program (VSP) to a large number of workers in India. The Labor Ministry has issued a notice to Amazon’s unit in India following a … Read more

PC maker HP to cut costs by cutting 6,000 jobs

Hewlett Packard (HP), one of the largest makers of computer hardware and printers, has announced plans to lay off about 6,000 workers over the next three years due to declining revenue. The company has about 61,000 workers. The goal is to reduce costs by about $1.4 billion over the next three years. Some other big … Read more

Mark Zuckerberg will not resign despite Facebook’s huge losses

Meta, which runs social media site Facebook, has ruled out the resignation of Mark Zuckerberg as the company’s CEO next year. Earlier this month, the company announced more than 11,000 layoffs. News website The Leak quoted a source close to the company as saying that Zuckerberg will resign next year. Report was published. Meta’s share … Read more

Due to the strictness of the government in China, young people have given up their addiction to gaming

Online gaming has become very popular among the youth over the years. However, many youngsters are also addicted to gaming. China claims to have solved the problem of gaming addiction among its young population. Last year, regulators in China introduced new rules to address the issue. Association of Gaming Industry in China Report I claim … Read more