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This week’s tech highlights showcased major global developments. The industry faces ongoing challenges, with over 149,000 job cuts reported in 2024 due to economic pressures. In corporate news, Intel announced the retirement of CEO Pat Gelsinger, marking a significant leadership change for the semiconductor powerhouse. Meanwhile, the Indian government intensified efforts against online fraud, blocking over 59,000 WhatsApp accounts tied to scams.
These stories, along with other key updates, capture the dynamic shifts shaping the tech landscape. Here’s a comprehensive look at the top tech news of the week.
Over 149,000 tech workers lost job in 2024
The tech industry in 2024 has been marked by substantial layoffs, with approximately 150,000 jobs eliminated across major companies. Leading firms like Tesla, Intel, Cisco, and Microsoft have implemented workforce reductions as part of broader cost-cutting strategies and restructuring efforts. These layoffs reflect the sector’s response to challenging economic conditions, including inflation, shifts in consumer demand, and tightening budgets. Once celebrated for its rapid growth and innovation, the tech industry now faces pressure to streamline operations and adapt to evolving market realities. While these measures aim to stabilize businesses, they highlight the volatile nature of the tech job market in an uncertain global economy. Click here to read the complete story.
Intel announces retirement of CEO Pat Gelsinger
On December 2, 2024, Intel announced the retirement of CEO Pat Gelsinger, who stepped down on December 1 after more than 40 years of service. Gelsinger’s departure marks the end of a significant chapter for the semiconductor giant, as he also vacated his position on the board of directors. In response, Intel has appointed David Zinsner, executive vice president and chief financial officer, and Michelle Johnston Holthaus, newly named CEO of Intel Products, as interim co-CEOs. Frank Yeary, the independent chair of Intel’s board, will temporarily assume the role of interim executive chair to guide the company through this transition. Gelsinger’s exit comes at a pivotal time for Intel, which has been grappling with declining market share and intensified competition in the artificial intelligence sector. The leadership shift aims to stabilize the company as it navigates these challenges and repositions itself in the evolving tech landscape. Click here to read the story.
Government blocks over 1,700 Skype IDs and 59,000 WhatsApp accounts linked to digital fraud
The Indian Cyber Crime Coordination Centre (I4C), an initiative by the Ministry of Home Affairs, has achieved notable success in tackling digital fraud. By November 15, 2024, the center had blocked over 1,700 Skype IDs and 59,000 WhatsApp accounts associated with fraudulent activities. This effort forms part of India’s broader strategy to safeguard citizens from cybercrime. During a Lok Sabha session, Union Minister of State for Home Affairs, Bandi Sanjay Kumar, highlighted these milestones as part of the achievements under the ‘Citizen Financial Cyber Fraud Reporting and Management System,’ launched in 2021. This system has played a critical role in preventing financial fraud, saving over ₹3,431 crore and addressing more than 9.94 lakh complaints to date. Click here to read the complete story.
Vodafone-Idea launches AI-powered spam-detection tool
Vodafone-Idea (Vi) has launched a new AI- and ML-powered spam management system to enhance mobile security and reduce message clutter for its users. The solution is designed to automatically detect and flag potential spam messages using advanced machine learning algorithms, offering a seamless and secure experience. Since its initial testing phase, the system has identified and flagged over 24 million spam messages, showcasing its effectiveness in combating unsolicited content. Vi aims to provide a cleaner, safer mobile environment for its subscribers with this proactive approach to spam management. Click here to read the complete story.
Sundar Pichai and 4 other technology CEOs whose companies spend highest on their security
Big tech companies are allocating significant resources to ensure the safety of their high-profile CEOs, with some spending far more than others. These security budgets cover everything from personal security teams to state-of-the-art surveillance systems, reflecting the risks associated with leading global tech giants. Among the top spenders is Meta, which allocated $23.4 million for Mark Zuckerberg‘s security in 2023. Meanwhile, Google spent $6.8 million on protecting Sundar Pichai. These figures highlight the growing emphasis on safeguarding executives in an era of increasing public scrutiny and security threats. Here’s a closer look at the top five tech CEOs with the highest corporate security expenditures. Click here to read the complete story.
US bans 140 Chinese technology companies
The United States is preparing to implement its third wave of restrictions on China’s semiconductor industry in as many years, according to reports. Expected to be announced on Monday, the measures will target over 140 Chinese firms, including the chip equipment manufacturer Naura Technology Group. Additionally, they will tighten controls on the export of advanced technology to China. The move, reported by Reuters citing sources familiar with the matter, is part of the U.S.’s broader effort to slow China’s advancements in developing cutting-edge semiconductor technology, a key area of geopolitical and economic competition. This latest round of restrictions underscores the escalating tech rivalry between the two nations and the US’s continued strategy to curb China’s access to critical technologies. Click here to read the complete story.
Swiggy expands its ‘super fast’ food delivery service
Swiggy has expanded its 10-minute food delivery service, Bolt, to over 400 cities across India. Initially launched in October in major metropolitan areas like Bengaluru, Chennai, Hyderabad, New Delhi, Mumbai, and Pune, Bolt is now available in a wide range of locations, including emerging hubs and tier-2 and tier-3 cities. “Bolt is now active not only in emerging hubs such as Jaipur, Lucknow, Ahmedabad, Indore, Coimbatore and Kochi, but also in tier-2 and -3 cities such as Roorkee, Guntur, Warangal, Patna, Jagtial, Solan, Nashik, Shillong amongst others,” Swiggy said. Click here to read the complete story.
Myntra announces 30-minute delivery with M-Now
Myntra is the latest to join the quick commerce rush. With its M-Now offering, it will provide users with faster deliveries of fashion and beauty products. To begin with, Myntra is targeting 30-minute deliveries to cater to young shoppers who are seeking new styles at the tap of their smartphones and faster doorstep delivery of fashion. In an interaction, CEO Nandita Sinha did not rule out the possibility of shortening delivery timelines going ahead, although she did not share any specifics. “The young Gen Z, millennial customers have a higher need for gratification which is quicker… their wardrobes are becoming very expansive and diverse and it is not just about a product but entire styling solutions. Their adoption (of M-Now) will be much faster,” Sinha told TOI. Click here to read the complete story.
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