Technology Layoffs: Preparing For A Major Reset?
Businessworld India|December 17, 2022
THAT ALL IS NOT WELL with the technology sector globally is an understatement. Marquee names from Google, Amazon and Meta to Twitter, Microsoft, Salesforce and Netflix have been undertaking significant layoffs in November. This has created the inevitable uproar in media and a sense of anguish all around.
Prabal Basu Roy
Technology Layoffs: Preparing For A Major Reset?

But should we be surprised? Firstly, the signs of an all-around disruption across industries has been evident for a few years now. For example, robotics is set to disrupt the manufacturing industry with significantly lower cost of operations, including doing away with managing the inherent complexity of laws, social issues, etc. when compared to humans; 3D printing on scale would be technically feasible in the next 20 years; a healthcare revolution is on hand through genome sequencing, the congruence of cloud and sensors, and the emergence of healthcare platforms enabling predictive healthcare and AI- based physicians; solar energy will be cheaper than the grid soon and radically transform the fossil fuel industry; open networks and the all-pervasive public WiFi will prompt a communications disruption. Many more examples abound.

Secondly, on the other hand, funded by cheap money, PE players have taken massive bets on such transformational technologies with valuations of Big Tech companies ballooning into trillions of dollars; salaries of tech workers are at an all-time high and exotic tech-driven asset classes like cryptocurrencies have redistributed new wealth to investors and ordinary people alike. Now with the collapse of the second largest crypto exchange, FTX, many asset classes run the risk of a domino effect, though it may be better contained than in 2008, as cryptos were still a relatively insulated asset class with low single-digit allocations globally.

Macro-economic Factors

هذه القصة مأخوذة من طبعة December 17, 2022 من Businessworld India.

ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.

هذه القصة مأخوذة من طبعة December 17, 2022 من Businessworld India.

ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.

المزيد من القصص من BUSINESSWORLD INDIA مشاهدة الكل
MEMORIES & IMPRESSIONS
BW Businessworld

MEMORIES & IMPRESSIONS

Ratan Tata was an exceptional human being. He was a visionary leader, esteemed industrialist, and a humanitarian, who left an indelible mark on India and the world.

time-read
3 mins  |
October 19, 2024
The Robotaxi Market
BW Businessworld

The Robotaxi Market

The robotaxi market is shaping up to be a high-stakes battleground as tech giants and automakers race to transform urban mobility.

time-read
1 min  |
October 19, 2024
And the Nobel Prize Goes to AI
BW Businessworld

And the Nobel Prize Goes to AI

The recent Nobel Prize T awards to AI pioneers affiliated with Google have sparked a broader conversation about Big Tech's influence on research and the limitations of traditional prize categories.

time-read
1 min  |
October 19, 2024
Ola Electrified
BW Businessworld

Ola Electrified

Once considered a trailblazer in India’s electric vehicle (EV) ecosystem, Bhavish Aggarwal’s Ola Electric now faces a major accountability crisis.

time-read
1 min  |
October 19, 2024
Sharp Slide in Industrial Output on Eve of Deepavali
BW Businessworld

Sharp Slide in Industrial Output on Eve of Deepavali

India’s index of industrial production (IIP) saw a sharp reversal in August, contracting by 0.1 per cent, in stark contrast to the 4.7 per cent growth in July, mostly because of significant contractions in mining and electricity generation.

time-read
1 min  |
October 19, 2024
Heralding the Solar Era with Sustainable Electrification
BW Businessworld

Heralding the Solar Era with Sustainable Electrification

RAJEEV KASHYAP on the economics of solar power, the hurdles in scaling it, and much more

time-read
2 mins  |
October 19, 2024
A WELL-GREASED MACHINE
BW Businessworld

A WELL-GREASED MACHINE

The OmniBook X14 laptop runs on first-generation Snapdragon X Elite, which bets big on Al-enabled productivity and battery life, but falls short when it comes to overall experience, says Deep Majumdar

time-read
4 mins  |
October 19, 2024
DO NOT LETA HEALTH CRISIS RUIN YOUR FINANCIAL HEALTH
BW Businessworld

DO NOT LETA HEALTH CRISIS RUIN YOUR FINANCIAL HEALTH

For a family of four living in a metro, it is recommended to opt for a family floater health insurance plan with a sum insured of at least Rs 15-20 lakh

time-read
7 mins  |
October 19, 2024
Disruption Ahead: Beyond Organisation Charts and Structures
BW Businessworld

Disruption Ahead: Beyond Organisation Charts and Structures

ALBERT EINSTEIN FAMOUSLY said, “We cannot solve our problems with the same thinking we used when we created them.

time-read
3 mins  |
October 19, 2024
Dr. Rahul Shivajirao Kadam: A Visionary Leader Blending Sustainability, Innovation, And Social Empowerment
BW Businessworld

Dr. Rahul Shivajirao Kadam: A Visionary Leader Blending Sustainability, Innovation, And Social Empowerment

We are on the stage of global warming, and these technologies not only help prevent further damage but also leave behind a better environment for future generations.

time-read
2 mins  |
October 19, 2024