When it comes to layoffs, most companies need to have a proper plan and strategy in place to ensure the process does not lead to any untoward incidences. While many people assumed they had seen the worst of layoffs during the pandemic and in 2023, the first two months of 2024 are so far proving to be as brutal as the last few years. There is no denying that companies conduct layoffs only after trying every other possible strategy available to them.

But layoffs are sometimes inevitable for organizations of all sizes around the world. So how can a company conduct a layoff without disrupting its reputation? While some companies have been able to do it quietly, the big tech enterprises normally end up getting the most negative reactions.

There’s a logic there – from the employee’s point of view, it’s difficult to see mega-companies (in any industry) having difficulties when they have colossal resources available to them. The diferential between the company’s difficulties and the employee’s difficulties when laid off are too massive to often let the laid-off employee see the strategic necessity of their redundancy.

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In Southeast Asia, e-commerce giant Lazada, which is a subsidiary of the Alibaba Group, came under heavy criticism recently on how it conducted its layoffs. According to reports, employees were left dumbfounded after realizing they were not able to schedule meetings upon returning from their year-end holidays.

Eventually, news of the layoffs broke out. Affected employees received their notifications via email. The atmosphere changed dramatically from a positive office environment to a somber scenario. There were tears, anger and confusion among employees. While many were unhappy with the terms of the layoffs such as the benefits, others were also confused about affected employees and the departments selected for layoffs.

Fortunately, several C-level executives who were also affected came together on LinkedIn to organize several events on job recruitment and how to deal with the situation. In fact, LinkedIn has become a platform for many affected employees to share their layoff journeys. Some have moved on, while others are still hoping to secure their next jobs.

Amazon employees and supporters gather during a walk-out protest against recent layoffs, a return-to-office mandate, and the company’s environmental impact, outside Amazon headquarters in Seattle, Washington, on May 31, 2023. (Photo by Jason Redmond/AFP).

It’s not personal, it’s strictly business: how companies should deal with layoffs

Tech layoffs involving big tech enterprises like AWS, Microsoft, IBM, Cisco and others often make headlines because of the high numbers of staff affected by the decision.

One recent survey found that nearly half of Americans fear that ChatGPT and other similar platforms will eventually make it harder for them to find work. The World Economic Forum estimates that over 85 million jobs could be lost to AI by 2025.

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What’s more concerning is that in a survey of 213 HR professionals and 792 workers in the tech industry done by B2B Reviews, one in ten human resources leaders admitted to using ChatGPT to craft a termination letter to an employee slated for a layoff.

Given the impact that layoffs can have on an organization, here are ten actions companies need to consider when making these big decisions.

Laying off without considering the legal or ethical implications. When conducting layoffs, it is important to know all relevant laws and regulations. This includes contracts to ensure the rights and dignity of the employees are met. Failure to do so exposes companies to lawsuits, fines, or reputational damage. For example, the employees of X who were laid off filed a lawsuit with the company which was eventually settled.

Botching the announcement. Some companies announce layoffs in impersonal or insensitive ways, such as via email, phone, or video call, without giving enough notice, explanation, or feedback. This was what the stuff at Lazada in Southeast Asia recently experienced. Businesses should also avoid using ChatGPT or similar tools to generate such content.

Offering negligent or insulting severance packages. Some companies offer minimal or no severance pay, benefits, or outplacement support to laid-off employees, causing them financial hardship and emotional stress. Most countries have laws on the minimum severance amount a company needs to pay affected employees. Often, companies do offer more than this, but there are still some that only give out the minimum payments.

Laying off too many people at once. A common problem is when companies shut down entire departments and teams. By cutting too deep into their workforce, there is a sense of panic and uncertainty among the remaining employees, which can damage their reputation and brand image.

Laying off the wrong people. Some companies lay off employees based on seniority, salary, or performance metrics, without considering their actual contributions, skills, or potential, resulting in losing valuable talent, knowledge, and innovation. This is why the HR department needs to advise business leaders on how they can best go about this.

No clear strategy or vision. During the pandemic, a lot of companies went on a hiring spree. While they had a vision, the strategy did not work well. This resulted in companies that went on hiring sprees subsequently making the huge job cuts that characterized 2023 in the tech industry. Without a clear plan for how to use the resources they save or how to achieve their goals, the business often ends up in confusion, inefficiency, and missed opportunities

No proper communication or support. Emotional stress is just one of the many challenges laid-off employees experience. Businesses need to ensure they properly communicate the reasons, processes, and outcomes of the layoffs to the employees, stakeholders, and customers. Some companies can choose to provide adequate assistance or resources for the transition. This exercise will reduce anger, resentment, and stress for affected employees.

Unionized staff at Condé Nast walk the picket line during a 24-hour walk out amid layoff announcements, in front of the Condé Nast offices at One World Trade Center New York City on January 23, 2024. The strike comes after Condé Nast said it would lay off approximately 5% of its staff, some 300 employees. (Photo by ANGELA WEISS/AFP).

Failure to evaluate the alternatives. Some companies resort to layoffs without exploring other options, such as reducing costs, increasing revenue, or retraining or redeploying employees, that could help them avoid or minimize the need for layoffs.

Laying off without assessing the impact. Similar to the above, companies need to measure the effects of the layoffs on the company’s performance, culture, and morale. Soliciting feedback from the employees, customers, or partners could lead to the organization missing the opportunity to learn and improve.

No follow-ups. No organization should forget or ignore affected employees. They need to check on their wellbeing, providing references or referrals, or maintaining contact. There have been companies that went as far as offering placements and medical assistance to some employees affected by layoffs.

At the end of the day, business leaders – be it in tech or any other industry – need to realize that layoffs are not a quick way to show profits. A lot of smaller companies do this to showcase their profits. The reality is though that this is only a short-term solution. Businesses that don’t have a clear strategy when conducting layoffs could end up having more troubles in the future.

The post What companies should avoid during layoffs appeared first on Tech Wire Asia.

Here we go again – another round of layoffs is hitting the gaming industry. Microsoft just dropped the news that it’s cutting 1,900 jobs from its video game division, a decision that comes shortly after their massive US$69 billion acquisition of Activision Blizzard.

Microsoft: the major job cuts in the video game division

In a memo from Phil Spencer, the head of Microsoft Gaming, it’s clear that the cuts will primarily affect Activision Blizzard, the creators of hit games like Call of Duty and Guitar Hero. But employees at Xbox and ZeniMax will not be spared from these layoffs. This move signifies a nearly 9 percent reduction in Microsoft’s 22,000-person video game division, though it accounts for less than 1 percent of the company’s approximate 220,000 employees.

Spencer’s memo, obtained by The Verge, reveals a balance between strategic planning and empathy for the affected employees. He highlights the integration of the Activision, Blizzard, and King teams into Microsoft and the company’s strategy for sustainable growth. Spencer states, “we have made the painful decision to reduce the size of our gaming workforce by approximately 1900 roles out of the 22,000 people on our team.” He assures that support will be provided during the transition.

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Further details about the situation at Blizzard were shared in an internal memo by Matt Booty, Microsoft’s game content and studios president. Booty addressed the Blizzard team directly, acknowledging the challenge of saying goodbye to colleagues and emphasizing the company’s commitment to delivering ambitious games. He mentioned that the layoffs were part of a focused strategy across Microsoft Gaming aimed at sustainable growth and aligning talent with top priorities.

Booty’s memo also confirmed the departure of Blizzard’s president Mike Ybarra, and chief design officer Allen Adham. Ybarra, who had been with Microsoft for over two decades, played a pivotal role as Blizzard’s president during the acquisition process. Booty thanked him for his leadership and partnership. One of Blizzard’s co-founders, Adham, left a lasting impact on the company’s games and plans to continue mentoring young designers in the industry.

Looking ahead, Spencer expressed optimism about Microsoft’s gaming business, emphasizing continued investment in areas that will broaden their reach to more players globally. Despite the challenges, he remains confident in the team’s ability to deliver engaging gaming experiences.

This layoff trend isn’t exclusive to Microsoft. The industry is reeling from a wave of job cuts as the pandemic-driven surge in gaming recedes.

Tencent’s Riot Games, for instance, is laying off 11% of its workforce, totaling around 530 jobs, including a scale-back in its independent game publishing division. Amazon’s Twitch is reducing its workforce by 35%, impacting around 500 employees, and Unity Software plans to cut a quarter of its staff, approximately 1,800 jobs. Notably, these companies also experienced layoffs last year.

Should staff at all video game companies be worried? (Source – X).

Piers Harding-Rolls, a gaming analyst at Ampere Analysis, observed that some layoffs at Activision Blizzard were expected post-acquisition. However, the scale and extent of the cuts across the industry have been unprecedented, particularly with many companies initiating them in January.

The bigger picture: Microsoft’s gaming business and future outlook

Gaming has become a key component of Microsoft’s consumer business, generating over US$15 billion in annual sales, primarily under the Xbox brand. The acquisition of Activision Blizzard, announced two years ago, was a strategic move despite concerns over Activision’s workplace culture at the time. The deal faced intense regulatory scrutiny, causing delays in its completion. As pandemic restrictions eased and consumer habits shifted, Microsoft reported a 5 percent drop in gaming revenue, amounting to US$764 million, in the last fiscal year.

Layoffs have become a recurring theme this month across various companies in the tech and gaming industries, including Google, Discord, eBay, and others.

Following the completion of Microsoft’s acquisition of Activision Blizzard in October, after overcoming regulatory hurdles in the UK and US, former CEO Bobby Kotick stepped down at the end of December. Now, a suite of Activision Blizzard executives report directly to Matt Booty.

Recently, there have been significant leadership changes at Xbox, with Sarah Bond being promoted to Xbox president, overseeing platform and hardware operations. Booty was also promoted to game content and studios president, managing Bethesda, ZeniMax studios, and Activision Blizzard.

Microsoft’s last major layoff round was a year ago, affecting 10,000 employees. The company is poised to release its fiscal Q2 2024 earnings soon, including the financial effects of the Activision Blizzard acquisition for the first time.

The post Microsoft announces major cuts in video game division following Activision Blizzard deal appeared first on Tech Wire Asia.

Palworld is really making waves – big time. Searches for ‘Palworld‘ skyrocketed by 708% during the first weekend after it launched worldwide.

Palworld‘s rise in popularity

On release, Palworld quickly achieved a milestone by selling 4 million copies within the first three days, alongside reaching a peak of 1.29 million concurrent players on Steam. This prompted an in-depth analysis of its rapid online popularity growth.

Gaminggadgets.de conducted research on Google Trends data over the past month, uncovering a significant spike in searches for ‘Palworld‘ right after its launch on January 19, 2024, and during the first weekend it was accessible to the public.

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The search interest for ‘Palworld‘ soared by 708% in just three days and is expected to continue its upward trend over the next week, driven by the extensive coverage it’s getting on streaming platforms such as Twitch.

TwitchTracker data illustrates this trend, showing that Palworld livestreams attracted a peak viewership of 432,308 on the platform on launch day, with an average of 123,047 viewers over the past seven days.

Developed by Pocketpair, Palworld is an action-adventure survival game set in an expansive world filled with animal-like creatures called ‘Pals.’ Players engage in battles, capture Pals, and utilize them for various activities, including base building, moving around, and fighting.

A representative from Gaminggadgets.de commented, “It is incredible to see just how quickly the player base for Palworld has grown in such a short period of time. Influences from Pokémon, Ark: Survival, and a multitude of recent open-world games are evident throughout its gameplay and general design, so it is likely drawing attention from all over the place.

The sudden exposure to it from popular channels on Twitch and YouTube, with some receiving early access to show off gameplay ahead of its public release, has surely helped its successful debut. It will be interesting to see whether Palworld can maintain these high player counts in the upcoming weeks or whether it will fade in popularity as the trend comes to an end.”

Google Trends data.

Controversy and success: the Palworld phenomenon at the start of 2024

Recently, Palworld has been embroiled in controversy due to its similarities with Pokémon, particularly regarding AI usage. This controversy has reignited concerns over deceptive AI practices. Allegations of plagiarism in Palworld‘s character designs, which closely resemble Pokémon characters, have sparked debates on social media, with users scrutinizing Pocketpair’s history with generative AI tools.

Despite these controversies, Palworld achieved impressive success in early 2024, selling 2 million copies within the first 24 hours of its early access release on PC and Xbox. However, this success has also brought renewed attention to the similarities between Palworld‘s ‘Pals’ and Pokémon characters.

Key takeaways:

• Takuro Mizobe, Palworld‘s director and CEO of Pocketpair, issued a statement urging an end to online abuse towards the game’s artists.
• In the same statement, Mizobe acknowledged the influence and inspiration from Pokémon.
• The controversy is further fueled by Pocketpair’s previous engagement with generative AI tools.

“AI usage continues to draw scrutiny, raised attention, and consumers eager to point out each and every perceived act of deceptions,” states Chelsea Alves, a consultant at UNmiss. “This has been made evident by the recent AI misuse callouts from other renowned businesses such as Sports Illustrated and the New York Times lawsuit against OpenAI. It’s becoming more clear than ever before that companies must become attuned to the needs and desires of consumers around AI usage to avoid negative media attention.”

Pocketpair has previously faced criticism for using generative AI tools in its earlier game, AI: Art Imposter, which heavily relied on an AI image generator. Historical posts by Mizobe, where he lauded the potential of AI image generators for content creation and discussed using AI to generate Pokémon designs, have added to the speculation.

While these posts don’t confirm the use of AI in Palworld‘s designs, they have fueled speculation, particularly considering the relatively inexperienced team behind Palworld, some of whom were just beginning their careers before joining the project.

Despite the plagiarism accusations, Palworld, billed as an “action-adventure survival game,” has garnered very positive reviews on Steam. Players engage in battles and capture “Pals” for various activities, including base building and combat.

In the context of the EU’s move to regulate generative AI in Europe and Valve’s recent policy change on disclosing AI-generated assets on Steam, the gaming industry faces increasing pressure to judiciously use AI amid growing concerns about such technologies.

The video game industry will continue to evolve

The video game industry is set for a rebound in 2024, bolstered by robust console sales, despite recent setbacks, including the controversies surrounding Palworld and the unfortunate layoff announcement from Riot Games. Reuters, citing a research report from NewZoo, predicts a promising upturn for the global video-game market, fueled by strong sales from Microsoft’s Xbox and Sony’s PlayStation 5 consoles.

This year, the market is poised to expand by 2.8%, reaching a total value of US$189.3 billion. This growth follows a modest increase of around 0.6% last year, signaling an end to the post-Covid downturn that led to job cuts across various video-game companies, according to NewZoo‘s analysis.

The gaming market, which experienced a surge during the pandemic, witnessed a 4.3% decline in 2022. An earlier report by NewZoo attributed this downturn to high interest rates, persistent inflation, and a scarcity of major game releases, all of which impacted gamers’ spending.

However, the recovery seen in 2023 was largely driven by the launch of several major titles. Notable releases included Electronic Arts’ Star Wars Jedi: Survivor and the FC 24 football game, along with Hogwarts Legacy from Warner Bros. Discovery.

NewZoo‘s latest report indicates that while the lineup of new releases in 2024 might not be as packed with eagerly awaited titles as the previous year, the growth in console sales will be propelled by live-service games and ongoing sales of existing game catalogs.

This projection aligns with Sony’s expectations, which anticipate selling 25 million units of the PlayStation 5 in the 12 months ending in March, thanks in part to the release of a new, slimmer version of the console.

Live-service games like Epic Games’ Fortnite have emerged as significant contributors to gaming revenue in recent years. Their free-to-play model and continuous content updates attract and retain a large user base.

However, NewZoo‘s report notes a shift in user preferences. Engagement data from 2023 suggests a trend from live-service games to premium games.

The report also points out that the growth of gaming subscription services such as PlayStation Plus and Xbox Game Pass, which offer users access to a wide range of titles for a fee, is expected to decelerate this year.

“2024 should not be marked by as many major disruptions and should instead remain in a form of continuity with what has already been observed recently,” Romain Bingler, market strategy manager at Ubisoft Entertainment, commented on the report’s findings.

The post Palworld searches soar by over 700% as the video game market anticipates a strong recovery in 2024 appeared first on Tech Wire Asia.

The gaming industry is facing a wave of significant layoffs in early 2024, marking a continuation of the cost-cutting trend that began last year. Tencent’s Riot Games, a prominent player in the sector, recently announced a substantial workforce reduction. The company plans to eliminate 11% of its staff, totaling around 530 jobs. This move also includes scaling back Riot’s division, which publishes independent developers’ games.

2024 layoffs rock gaming industry

Dylan Jadeja, the CEO of Riot Games, conveyed the decision in a letter to employees, later shared on the company’s blog. Jadeja emphasized the need for strategic adjustments and operational streamlining to ensure Riot’s future sustainability.

The company’s current situation stems from ambitious 2019 expansions aimed at enhancing the player experience. Riot Games ventured into new experiences, leading to rapid growth and transforming it into a multi-game, global entity. This expansion doubled the company’s size, driven by operational changes and new talent acquisitions.

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However, Riot now grapples with a lack of clear focus, as numerous projects have not met expected returns, leading to unsustainable costs. These financial challenges have restricted the company’s capacity for experimentation, a vital aspect of Riot’s creative ethos.

In response, Riot implemented measures such as project prioritization, hiring slowdowns, and focusing on cost control. Despite these efforts, it became apparent that more significant changes were necessary. So the company reduced its workforce to concentrate on projects delivering the most player value.

Jadeja stressed that this decision was crucial for Riot’s long-term health and was not driven by shareholder interests or short-term financial goals.

The layoffs include reductions in staff for Riot’s game Legends of Runeterra, launched in 2020. Subsidizing this title’s development through other games was deemed unsustainable. Eric Shen will assume the role of executive producer for Legends of Runeterra, replacing Dave Guskin, who announced his transition to other Riot projects in a blog post. Riot’s Forge division, which focuses on publishing indie games, will also experience cutbacks.

Tencent, a major player in the gaming industry and Riot’s parent company since 2015, has faced its challenges. Tencent’s involvement began with an initial investment in Riot Games in 2011. The company, headquartered in Los Angeles, has witnessed changes in the broader gaming landscape.

Riot Games community shows solidarity for the Rioters (Source – X).

For instance, Microsoft’s plan to acquire Activision Blizzard in 2022 positioned it as the third-largest gaming company, trailing Tencent and Sony. Microsoft, too, has encountered hurdles, cutting 10,000 employees amid slowing revenue growth.

Tencent, known for its widely used WeChat app in China, has seen revenue fluctuate for seven consecutive quarters following a pandemic-era growth spurt. Tencent-backed Epic Games reduced its staff by 16% in September. Moreover, Tencent’s shares fell 12% in late December after China introduced new regulations to limit excessive gaming.

Pony Ma, Tencent’s co-founder and CEO, indicated a strategic shift in November, moving away from less scalable activities and focusing on artificial intelligence investments.

Amazon’s Twitch joins layoff trend early in the year

This trend of workforce reduction extends beyond Riot Games. Amazon’s Twitch, another significant entity in the streaming and gaming sector, announced a 35% reduction in its workforce, impacting around 500 employees.

Twitch publicly addressed the layoffs in a blog post, including an email from CEO Dan Clancy to staff. Clancy expressed disappointment that the news leaked before the official announcement. The layoffs were part of an effort to develop a more sustainable business model for Twitch, despite distributing over US$1 billion to streamers last year.

The past year saw Twitch grappling with leadership changes, rising operational costs, and community dissatisfaction. These challenges led to the layoffs of 400 employees after Emmett Shear handed the CEO role to Clancy. Amazon further reduced the workforce by closing the Crown channel and its Game Growth group.

Twitch also announced the shutdown of its services in South Korea, one of the most prominent esports markets, citing high network fees. Despite user growth since the pandemic lockdowns, Twitch has struggled to achieve profitability. The platform’s shift to ad revenue has not yielded the expected results, and Bloomberg reports that Twitch remains unprofitable nearly a decade after Amazon’s acquisition.

Operating large-scale live streaming content is costly for Twitch. In 2022, Clancy revealed that each high-volume streamer costs the company about US$1,000 per month, primarily due to Amazon Web Services’ rates.

“Delivering high definition, low latency, always available live video to nearly every corner of the world is expensive,” Clancy said, highlighting the financial challenges of Twitch’s operations.

Why are continuous layoffs occurring in the industry?

This analysis is based on commonly observed reasons and is purely an opinion. One classic strategy to boost short-term profit margins involves layoffs. Although it’s a controversial practice, it’s not unusual for executives to improve their quarterly numbers by reducing staff. The rationale is that the company can always rehire if necessary later.

A notable trend is the timing of these layoffs, often occurring right before Christmas, primarily driven by this financial strategy – or even early in the year.

Rapid growth or poor decision-making also contribute to layoffs. The concept of infinite growth, often championed by economists, doesn’t always hold up in reality. The gaming industry, for example, experienced a surge during the pandemic due to increased indoor activity. However, as people spend less time indoors post-pandemic, companies anticipate a downturn and preemptively reduce their workforce.

In some instances, companies make strategic errors. The Embracer Group, for example, aggressively acquired companies in anticipation of Saudi investment that never materialized. On the other hand, Unity has been losing money for a prolonged period and further alienated its community by introducing a fee for each installation of games developed using its engine. Such missteps have led to layoffs.

Another factor could be the potential shift towards AI, specifically Large Language Models (LLMs). Businesses globally aspire to increase production with fewer employees; AI integration could be a step in that direction. The move towards AI, however, raises concerns about copyright issues and moral and ethical implications, making this a complex and potentially contentious development to observe.

The gaming industry’s recent wave of layoffs reflects various factors, from strategic shifts to economic pressures. As the industry continues to evolve, companies are navigating the complexities of technological advancements, shifting consumer habits, and economic uncertainties, all of which shape their operational decisions and workforce management.

The post Tencent’s Riot Games announces 2024 layoffs to ‘create focus’ – cutting 11% of its staff appeared first on Tech Wire Asia.

The e-commerce industry continues to experience record-breaking profits globally. While the pandemic contributed to the growth and adoption of e-commerce, post-pandemic sales continue to be high. Apart from brands selling their products online, there are also hundreds of e-commerce platforms around the world, competing with each other to provide the best offers to customers.

In Southeast Asia, the digital economy was expected to hit US$218 billion in 2023. There have been reports that the growth rate of retail e-commerce sales in Southeast Asia, which includes Indonesia, Malaysia, Philippines, Singapore, Thailand, and Vietnam, declined from 21.6% in 2022 to 13.5% in 2023. Mounting global economic uncertainties are likely the reason for this.

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E-commerce platforms in the region have also been investing in their offerings. This includes enhancing the customer experience as well as bringing in new features to the platforms to increase sales.

Currently, the top e-commerce platforms in Southeast Asia include Shopee, Lazada, Zalora, Tokopedia, Bukalapak, Carousell and Tiki. ByteDance’s TikTok Shop is currently the fastest-growing e-commerce player in the region, despite the challenges the company faced in 2023 in Indonesia.

According to reports, around 30% of Lazada’s employees will be laid off.

Layoffs in the e-commerce industry

Despite its success, the e-commerce industry was not spared from layoffs. In 2023, almost all e-commerce platforms in the APAC region reduced their headcount. While competition has been regarded as the main reason, the increasing use of technology like AI in some roles has also contributed to the number of layoffs.

While it is only the beginning of 2024, Lazada has already made headlines for its drastic job cuts around Southeast Asia. According to a report by CNBC, Lazada employees from all levels across the region are affected. The same report claimed that hundreds could be affected – with the Singapore branch being the most impacted.

A spokesperson for Lazada Singapore did not confirm the layoffs but told CNBC that the company is “making proactive adjustments to transform its workforce, to better position itself for a more agile, streamlined way of working to meet future business needs.”

The layoffs – or “proactive adjustments” – at the e-commerce giant also came as a shock to the employees. According to reports, many employees were caught off guard by the announcement. Lazada currently has around 10,000 employees in the region.

Singapore’s CNA reported that Lazada Singapore had retrenched some workers last year, but that it was usually just a few people or a particular department that was affected. This time, staff from all parts of the company – and at all levels – have been affected.

Three employees who spoke to CNA described the layoffs as “unfair,” “opaque,” and “baffling,” adding that it has caused much anxiety and speculation among their colleagues due to the lack of transparency. They also said that the severance package was lower and worse than other tech companies such as Shopee and Grab offered to their employees who were laid off last year.

Lazada has already made headlines for its drastic job cuts around Southeast Asia. (Image by Shutterstock).

What caused layoffs in Lazada?

E-commerce platforms continue to evolve, offering new features and improving customer experiences. However, that’s not the case with Lazada, which is also one of the reasons why the app has been losing out to its competitors.

For example, Lazada’s main competitors – Shopee and TikTok Shop use shoppertainment as a means to boost their sales compared to Lazada. While the Lazada e-commerce app does support live broadcasts for sales and even has gamification features like those of its competitors, the response to them on Lazada has not been as great as it has been on some of those rival platforms.

At the same time, most e-commerce platforms today offer buy now pay later (BNPL) services, something that Lazada has yet to offer to its customers. For example, Shopee has its own BNPL offering, while other e-commerce platforms like Zalora partner with BNPL providers to give customers more payment options.

Alibaba Group has invested an additional US$634 million in Lazada to intensify its battle with its competitors in the region. (Image by Shutterstock).

Alibaba has bigger plans?

The biggest possibility of the layoffs would be in the group’s management and direction as well. Lazada is a subsidiary of the Alibaba Group. The Alibaba Group has experienced a tumultuous 12 months. First, the group called off big plans for its cloud computing unit in November 2023. The group’s market value has also fallen drastically in the last three years.

Interestingly, in December 2023, Alibaba Group also invested an additional US$634 million in Lazada to intensify its battle with its competitors in the region. So, if the parent company has invested heavily in Lazada, then why is it conducting layoffs?

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According to a report by The Financial Times, company insiders and analysts said that Alibaba has so far failed in combating aggressive new competitors effectively, keeping abreast of AI developments and capitalizing on its strengths in domestic e-commerce to succeed in Western markets.

The Financial Times also spoke to nine Alibaba employees, who painted a picture of a flailing enterprise trying to chart a new course after canning crucial planks of an ambitious restructuring plan that was supposed to revive its fortunes.

It remains to be seen what other plans Lazada has for its e-commerce journey beyonf these layoffs. But one thing is certain: the e-commerce industry remains a highly competitive and profitable industry, and without the right formula for success, platforms like Lazada may take longer to be as successful as their competitors.

Apart from Lazada, in 2023, Shopee laid off around 500 employees in its Indonesia unit, while Tokopedia saw around 600 employees laid off in the country. Zalora, by contrast, has been able to maintain its workforce and remain profitable despite the increasing competition.

The post Lazada layoffs: does Alibaba have a bigger plan for e-commerce? appeared first on Tech Wire Asia.

As soon as Broadcom announced its plans to acquire VMware, many in the industry understood that layoffs would be in store for staff should the deal go through. And true enough, since the deal closed, more than two thousand VMware employees have since been laid off or made redundant by Broadcom.

VMware has over 38,000 employees worldwide. In the US, a report by ChannelFutures stated that data stems from WARN notices the acquisitive chipmaker has filed in multiple states. The Worker Adjustment and Retraining Notification (WARN) Act helps ensure advance notice in cases of qualified plant closings and mass layoffs.

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Broadcom’s actions post-acquisition are nothing new. The company made similar moves when it acquired CA Technologies, Symantec and several others in the past. But most of the companies it acquired previously were neither as profitable or innovative as VMware.

“While an important moment for Broadcom, it’s also an exciting milestone for our customers around the world. And as I said when we first announced the acquisition, we can now come together and have the scale to help global enterprises address their complex IT infrastructure challenges by enabling private and hybrid cloud environments and helping them deploy an “apps anywhere” strategy. Our goal is to help customers optimize their private, hybrid and multi-cloud environments, allowing them to run applications and services anywhere,” said Hock Tan, president and CEO of Broadcom in a statement.

While Tan has hinted that the company will remain committed to several offerings by VMware, there have been questions asked about the areas that were not mentioned. That includes VMware’s cybersecurity venture – Carbon Black.

Carbon Black may no longer be a key business unit for VMware post-acquisition. Broadcom already has several cybersecurity ventures under its group and a recent report from CRN stated that Broadcom had told VMware channel partners to immediately stop bundling sales of VMware products with those belonging to Carbon Black.

This is the first of many changes implemented by Broadcom. In an email and town hall meeting with VMware employees, Tan said he plans to review strategic alternatives for both Carbon Black and VMware’s end-user computing practice.

Broadcom CEO speaking to VMware employees. (Source – LinkedIn)

New leaders for VMware?

With layoffs ongoing at VMware, there have also been some changes made to the senior management team of the company. Raghu Raghuram is now the former CEO of VMware. The man who remained optimistic about the deal, posted on LinkedIn that he will now be taking a break and will remain to serve as a strategic advisor to Tan.

“During this time, we have navigated a dizzying journey together that spans the full lifecycle of a business – from raising debt financing to spinning off from Dell and operating as a standalone public company, to being acquired by Broadcom and executing through a complex regulatory process to finally arrive at this milestone moment in VMware’s history. Throughout it all, I have been amazed at the resiliency and focus of the VMware team as we repeatedly beat our financial goals, broke new ground with our product releases and took time to celebrate the values that make us a special company,” said Raghuram in his post.

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Also leaving the company is Sumit Dhawan. The former president of VMware has now joined Proofpoint as its new CEO. In his most recent role as president of VMware, Dhawan was responsible for driving over US$13B of revenue and led the company’s go-to-market functions including worldwide sales, customer success and experience, strategic ecosystem, industry solutions, marketing, and communications.

Apart from Dhawan and Raghuram, several other senior executives have also announced plans to move away from VMware. But that’s not all. There have also been reports of several VMware offices being closed down as well around the world.

In the US, reports state that some of Broadcom’s employees will also now move to VMware’s campus office in Palo Alto. In an interview, Tan also requested VMware employees living within 60 miles of a Broadcom location to return to the office to work.

“If you are customer-facing, go-to-market (sales), then sure, you can be remote, I don’t care…Any other exception, you better learn how to walk on water. I’m serious,” Tan said in an interview.

There could be more layoffs at VMware in the months to come.

VMware layoffs and redundancy in Southeast Asia

The layoffs and redundancy announced by Broadcom seem to have a major impact on VMware’s Southeast Asia offices. In Malaysia, the entire VMware office has been shut down, while several channel sales partners in Singapore have also been made redundant following the acquisition.

A conversation with a former executive of VMware revealed that many employees in the regional headquarters are still unsure if they would want to remain with the company. He said that many were not pleased with the way Broadcom deals with clients and partners, and that he could see clients moving away from relying on VMware products in the future.

He also said that Broadcom is quite adamant in how it conducts its businesses. While the company is profitable and doing things right, its approach to sales may be different from how VMware operated in the past. And this is where VMware employees might find it more challenging to cope with – and could be made redundant.

As such, VMware employees may have a bleak future on the horizon, but it doesn’t mean that it’s the endgame for them or the company. While many will undoubtedly leave in search of better opportunities, there will also be those who remain and continue to support Broadcom in its plans to grow VMware’s business.

After all, Tan has acknowledged that Broadcom qill continue to invest in VMware’s innovations and continue to support the development of the company’s products. The only question will be whether the team that remains will be open to Broadcom’s terms of doing business or will decide to move on.

The post VMware by Broadcom: layoffs and redundancy appeared first on Tech Wire Asia.

Throughout 2023, a significant trend of layoffs has swept across various industries, notably impacting the global workforce and becoming a focal point of discussion and ongoing strategy. Once lauded for its growth and innovation, the gaming industry has been particularly affected, with numerous well-known companies announcing layoffs.

These cuts, influenced by shifts in consumer behavior, technological progress, and economic pressures, reflect a broader trend within the global economy, highlighting the vulnerability of even dynamic sectors to economic uncertainties and strategic changes.

2023…A year of significant layoffs in the gaming industry

The gaming sector has experienced considerable headcount reductions due to these economic challenges. As reported by Farhan Noor’s videogamelayoffs.com, over 6,100 gaming employees have been laid off in 2023 so far. However, this figure might be an underestimation, as many companies have not fully disclosed the full extent of their job cuts.

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Tech Wire Asia delves into some notable layoffs within the gaming industry this year (so far), underscoring the sector’s response to the prevailing economic climate.

Unity

In 2023, Unity Technologies, a major player in the gaming industry, announced two significant rounds of layoffs as part of its workforce restructuring efforts. The first round in January impacted 284 employees, attributed by CEO John Riccitiello to economic conditions and a need for strategic investment focus, mainly affecting administrative roles and discontinuing certain projects.

A subsequent layoff in May saw an additional 600 employees, approximately 8% of the workforce, let go, aligning with Unity’s goals to streamline operations and reduce its office footprint from 58 to 30 amid recession concerns. This brought Unity’s total staff to around 7,000, following a previous reduction of about 200 employees in June 2022.

Despite reporting its first profitable quarter, Unity is implementing restructuring plans, including team changes and reducing office space, which are expected to incur around US$26 million in charges. The company’s Q3 earnings report highlighted further cost-saving measures and a conservative outlook for 2023. Unity also faced challenges within the game development community due to a controversial pricing model, leading to CEO Riccitiello’s retirement and pricing strategy revisions.

These changes at Unity reflect a broader trend of instability in the video game industry, marked by layoffs, shutdowns, and restructuring, even amid mixed financial performances. That highlights the sector’s volatility and its susceptibility to broader economic uncertainties.

Epic Games

Epic Games has announced a significant workforce reduction, laying off around 16% of its employees, totaling around 830 people. This move is part of the company’s strategy to achieve financial sustainability amid heavy investments in the evolution of Epic and the development of Fortnite as a metaverse-inspired ecosystem. The CEO acknowledged the need for layoffs, contrary to their initial optimism, due to changes in Fortnite‘s economic model, shifting towards a creator-driven model with significant revenue sharing.

Epic Games is laying off 830 people. (Source – Shutterstock)

Efforts to reduce costs, including net zero hiring and decreased spending on marketing and events, proved insufficient, leading to the decision to lay off staff. Additionally, Epic is restructuring its portfolio, with Bandcamp being acquired by Songtradr and SuperAwesome’s advertising business becoming independent, while Kids Web Services remains with Epic.

Epic is offering substantial severance packages to affected employees, including six months of base pay, healthcare benefits, accelerated stock options vesting, and other support services. Despite the layoffs, the core development teams at Epic are largely unaffected, with most of the job cuts impacting non-core departments. Some projects may experience delays though, due to reduced resources.

Epic assured the market that these layoffs have financially stabilized the company, with no further workforce reductions planned. The company will continue hiring for essential roles while maintaining net-zero hiring at its revised size, reaffirming its commitment to ongoing projects and investments in the gaming and development sectors.

Bytedance

ByteDance, the parent company of TikTok, is significantly downsizing its gaming division, Nuverse, due to lackluster performance over the past two years. This restructuring marks a significant shift from ByteDance’s initial strategy, where it positioned its gaming pursuits as a critical business unit to compete with industry giants like Tencent, NetEase, and MiHoYo.

The downsizing process began with widespread layoffs, creating uncertainty for many Nuverse employees. As of 2021, Nuverse had grown to a team of about 3,000 people, and its size had remained relatively stable. ByteDance had made significant investments in the gaming sector, including the US$4 billion acquisition of Moonton, a Shanghai-based studio. Despite this, ByteDance is reportedly considering selling Moonton, with negotiations in progress with a Saudi Arabian firm.

While there were initial speculations about a complete shutdown of Nuverse and a withdrawal from mainstream gaming, ByteDance’s statements suggest that some segments of the gaming team might continue operations.

ByteDance’s challenges in the gaming industry, including its virtual reality efforts with Pico, highlight the limitations of its data-driven strategy, which is successful in the short-video app market but less so in the gaming sector, where success relies on longer, more creative processes. The gaming industry’s unpredictable nature contrasts with the instant gratification model of TikTok’s videos.

Bytedance gives up on the gaming industry. (Source – X).

Nuverse’s lack of significant commercial successes has likely led to reassessment by ByteDance’s management, especially given the company’s status as a private entity amid US-China tensions. The wider Chinese internet industry, including the gaming sector, faces additional pressures from regulatory crackdowns and economic challenges, such as the halt in gaming license approvals and constrained recovery due to macroeconomic factors.

Amazon

Amazon has initiated another series of layoffs, impacting over 180 positions, as part of a broader reorganization of its gaming strategy. This includes discontinuing the Crown channel, a Twitch channel known for its TV-like programming, and closing down the Game Growth group, which provided marketing support to gaming creators.

Christoph Hartmann, VP of Amazon Games, described these changes as a strategic pivot to enhance Prime Gaming, with a renewed focus on offering free games to subscribers. This shift responds to customer preferences for free monthly game offerings.

These recent layoffs follow a previous round in April that laid off around 100 roles within Amazon’s games division, underscoring the company’s refocus on key growth areas.

The Crown channel, a component of this restructuring, faced criticism for artificially inflating viewer numbers, which raised questions about its actual viewer engagement and effectiveness as an advertising platform.

According to Amazon spokesperson Brittney Hefner, this restructuring effort aims to concentrate on Amazon’s primary gaming business activities. This strategy includes developing flagship in-house games like New World and a forthcoming Lord of the Rings title, and publishing games from external developers. These moves signify a significant strategic shift in Amazon’s gaming approach, prioritizing in-house game development and publishing.

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Electronic Arts

Electronic Arts (EA) plans to lay off over 700 employees, constituting around 6% of its approximately 12,900-strong global workforce. CEO Andrew Wilson announced this decision despite EA reporting a US$1.3 billion gross profit in the latest fiscal quarter. The company simultaneously lowered its full-year profit forecasts, despite increases in both revenue and profit over the previous year.

Wilson acknowledged EA’s strong position despite macroeconomic challenges and claimed the company was gaining momentum. Nevertheless, the layoffs are part of a strategic shift, refocusing on projects that align with EA’s core strategies of developing games for large online communities, interactive storytelling, and enhancing tools for community and creator engagement.

Successes like The Sims 4, EA Sports FIFA 23, and Apex Legends have been highlights for EA, and the company aims to continue its focus on major projects such as Madden 23, Battlefield 2042, the upcoming Star Wars Jedi: Survivor, and The Sims 5. These layoffs are not directly linked to EA’s decision to remove older Battlefield games from online stores.

Wilson added that some employees might be reassigned to other projects, while those not reassigned will receive severance and additional benefits. These staffing changes began earlier in the quarter and are expected to extend into the next fiscal year beginning in October. Earlier in February, EA laid off 200 Apex Legends QA testers.

Experts note that while large companies often justify layoffs as responses to slowing growth, such measures don’t always result in cost savings and might mirror industry trends. EA estimates these layoffs will cost between US$170 million and US$200 million, per a recent financial statement. EA’s decision to downsize reflects a broader trend of layoffs and restructuring within the gaming industry, driven by various economic and strategic factors.

A user left disappointed with the decision from EA. (Source – X)

Conclusion

The gaming industry in 2023 has faced a turbulent period, marked by significant layoffs and strategic realignments. Companies are adapting to the evolving economic landscape, consumer preferences, and technological advancements. Despite the challenges, these changes might pave the way for a more resilient and innovative gaming sector in the future. The impact of these layoffs extends beyond immediate job losses, influencing the industry’s strategic direction and potentially reshaping the gaming landscape as we know it.

The post Top 5 significant layoffs in gaming in 2023 appeared first on Tech Wire Asia.

Since Broadcom announced plans to acquire VMware, a lot has happened in the tech industry. From tech layoffs by large enterprises to innovations in generative AI, one could say that it has been a topsy-turvy period for tech companies all around the world.

The US$61 billion acquisition, which is just shy of the US$69 billion Microsoft paid to acquire Activision Blizzard, is expected to close soon after getting approvals from major regulatory bodies around the world.  While Broadcom still navigates through some regulatory hurdles in the final stages of the deal, the feelings of VMware staff around the world paint another picture.

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According to a statement by Broadcom, the company expects its acquisition of VMware to close on October 30, 2023. On August 21, 2023, Broadcom received final transaction approval from the United Kingdom’s Competition and Markets Authority. This follows legal merger clearance in the European Union, as well as in Australia, Brazil, Canada, Israel, South Africa and Taiwan. In the U.S., the Hart-Scott-Rodino pre-merger waiting periods have expired, and there is no legal impediment to closing under U.S. merger regulations.

“Broadcom is confident that the combination with VMware will enhance competition in the cloud and benefit enterprise customers by giving them more choice and control over where they locate their workloads,” the statement said.

Have the VMware layoffs started?

Will there be layoffs for VMware employees?

Since the acquisition was first announced, there have been mixed feelings among VMware employees. For many, the acquisition raised concerns about job security, especially how Broadcom is known for trimming down the workforce of companies it acquired in the past.

Yet, many still believed that things would be different this time. Mainly because the previous acquisitions made by Broadcom involved companies that have not been performing well in the industry as compared to VMware. VMware continues to be doing alright, innovating and meeting the demands of the industry.

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In Southeast Asia however, it was a different scenario. Since the acquisition was announced a year and a half ago , there have been several high-level departures in the company. This included country managers of the countries VMware operated in as well as some regional executives. Despite this, the mood among most employees in the region was still positive.

Now, as the acquisition closes, social media and forums started filling up with VMware employees expressing sadness and confusion as to what lay for them ahead. A check on X and LinkedIn showed some employees already preparing for the worst, as they feel layoffs will kick in soon. Some have even come out to voice support towards employees who have been or potentially will be impacted by layoffs at VMware.

“One of the striking aspects of this situation is the incredible talent pool that VMware boasts. The company has thrived because of its dedicated and skilled workforce, many of whom have poured their heart and soul into their roles. It’s crucial for employees to remember that their hard work, talent and passion brought them to this point in their careers. While the uncertainty surrounding the acquisition is undoubtedly nerve-wracking, these qualities that got them here will undoubtedly serve them well in the future,” writes Joseph Chung, Senior Director for Global Business Partnerships at VMware in a LinkedIn post.

In another LinkedIn post, Joel Neeb, VMware Vice President stated, “To those staying to take on a role at Broadcom, I’m confident you’ll continue to deliver the trusted foundation to accelerate innovation under a new banner. To those finding new teams, I can’t wait to see what you do next. If you’re a leader looking for the best talent in the world – this is your chance. Connect with these individuals quickly before they’re pulled onto a new team.”

On

Broadcom is known for laying off employees of the companies it acquires. (Photo by JUSTIN SULLIVAN / GETTY IMAGES NORTH AMERICA / Getty Images via AFP)

Change in business operations?

During VMware Explore in Singapore in September 2023, Raghu Raghuram VMware CEO mentioned in a media briefing that the company could be seeing some layoffs as it was common during any acquisitions. However, he also mentioned that how many VMware staff would be impacted by layoffs and even role changes would only be confirmed once the acquisition closes.

Raghuram also mentioned that VMware remains committed to its partners and clients around the world. In fact, during VMware Explore, the company made a few major announcements in AI, an area that VMware is not only starting to show more focus on but also marking the change from the company’s original purpose in the first place.

While virtualization and the multi-cloud remain the core business of VMware, the acquisition may see the company focus on other areas as well. For partners, the acquisition is also a time of uncertainty as many feel innovation could slow down post-acquisition. There have been rumors that Broadcom may plan to moving CA and Symantec (two companies it previously acquired) under the VMware banner.

With that said, the next few days and weeks could be some stressful times for VMware employees around the world. But one thing is for certain, VMware has been a dominant player and a game-changer in the industry since its inception. Hopefully, it will remain to be a key player once Broadcom completes the acquisition.

The post VMware keeps mum on layoffs as Broadcom acquisition closes appeared first on Tech Wire Asia.

It was inevitable, wasn’t it? The hype on the metaverse was fading off, the technology was costly and more importantly, lots of people were returning to the office to work. The metaverse may have been Mark Zuckerberg’s dream, but it is slowly disappearing from the agenda for most organizations today.

Despite the company insisting that there is still hope for the metaverse, the decisions Meta has been making signal something else. According to an exclusive report by Reuters, the Meta layoffs, which have been going around for some time, have now eventually reached the metaverse employees as well.

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Reuters reported that employees of Meta’s Reality Labs, which focuses on the technology and development of the metaverse, have been informed of layoffs in a post on the company’s internal discussion forum. The post said employees would be notified about their status with the company.

The report also explained that the cuts are expected to be focused on the Facebook Agile Silicon Team or FAST. The FAST unit, which has roughly 600 staff, worked on developing custom chips to equip Meta’s devices to perform unique tasks and operate more efficiently, differentiating them from others entering the nascent AR/VR market.

A Meta spokesperson declined to comment on the plans. Reuters also highlighted the fact that if the cuts are deep, they could hamper Mark Zuckerberg’s project to build augmented and virtual reality products enabling access to the metaverse, particularly the AR glasses that he predicted “will redefine our relationship with technology.”

Meta founder and CEO Mark Zuckerberg speaks during the Meta Connect event at Meta headquarters in Menlo Park, California, on September 27, 2023. (Photo by JOSH EDELSON / AFP)

More Meta layoffs

Earlier this year, Meta announced layoffs of up to 11,000 employees, but it seemed that they may not be the last, given the latest reports. The first layoffs took place in three rounds, with the last batch released in May.

Specifically, the Meta layoffs were part of Zuckerberg’s planned “year of efficiency” to cut costs, shake up company culture and narrow focus in response to slower growth in the tech industry. However, this did not stop the company from continuing to innovate its services.

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Given the hype of generative AI, Meta has also been actively developing its own large language models and AI assistants, with several announcements made in recent months. This includes the introduction of Meta AI, an AI assistant for the company’s social media apps.

In terms of hardware, Meta has been focused on developing its augmented reality goggles with RayBan, on which it also recently announced updates. The AR device, which was initially meant to be a tool for the metaverse, seems now to have shifted focused to Meta’s AI assistant.

It remains to be seen if this will be the last round of layoffs this year by Meta, but as Reuters has pointed out, the latest layoffs, which focus on personnel developing the AR devices, show that the metaverse is not really living up to its expectations.

A Reuters report on the layoffs planned at Meta.

Back to reality

Meta may have big plans for the metaverse but it seems that other tech companies are starting to realize that the virtual reality world may not be what it initially promised. The metaverse was designed as a place where everyone could go in and do things virtually. And for companies like Meta, that included the capability to work in the metaverse.

However, with staff returning to the office to work, the metaverse seems increasingly like a pointless idea. After all, why would an employee go to their physical office just to work in a virtual office space? The idea was just not working, and companies soon realized that adopting the technology for their employees was also a costly affair.

Still, there was some hope in the metaverse for other use cases. This included entertainment and education. However, the high prices of wearables remained an obstacle for many. In fact, Disney has also moved to cut its metaverse division in 2023. In 2022, Meta’s Reality Labs reported an operational loss of US$13.7 billion and even Microsoft has shifted its focus towards developing more generative AI tools to benefit users.

Given the reduced hype on the metaverse, companies are likely to scaling down their investments on the platform. And this in turn could mean a drop in sales of the wearables needed to access the platform.

While there are gaming opportunities in the metaverse, the income it generates may not match the predictions the industry had when it first came out.

For now, it seems the metaverse is no longer a necessity, and companies that have invested in it are now thinking of how they can salvage their funds.

The post As Meta layoffs hit metaverse workers, could this be the end of the dream? appeared first on Tech Wire Asia.

When the Covid-19 pandemic struck, Accenture was one of the few companies that were able to make the most of the situation by helping businesses in their tech journey. This includes providing consultancy on cloud services, AI adoption, cybersecurity, automation, and even the metaverse, with 249 partners in its ecosystem.

According to a report by The Financial Times, Accenture went on a hiring binge during the pandemic, adding more than 230,000 staff. Accenture currently has over 738,000 staff globally, with operations in over 200 cities across 49 countries and more than 9,000 clients served in 120 countries.

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However, just as every other company that went on a hiring spree during the pandemic, Accenture is being affected by this. Accenture announced that it will lay off about 19,000 staff over the next 18 months. This is the largest job layoff in the consulting sector as businesses look to battle rising costs and economic uncertainties.

The Financial Times also reported that Accenture is expected to incur staff severance costs of US$1.2 billion and a further US$300 million of expenses from the “consolidation of office space.” The retrenchment will affect about 2.6% of Accenture’s staff. More than half of the cuts are expected to impact staff who work in corporate functions rather than serve clients directly.

While other consultancy companies have also announced job cuts, Accenture’s announcement comes as a rather surprising one given that the company reported a 5% increase in revenues at US$15.8 billion compared to the same period last year. Accenture also reported a drop in operations income and consulting revenues, but its managed services and outsourcing services grew.

Globally, layoffs are becoming increasingly common, especially in the tech industry. In fact, the tech industry itself has witnessed close to 122,000 employees being laid off. Most of the job cuts involved staff at big tech companies like Google, Meta and Amazon. The roles that were affected the most also included jobs that experienced a surge in hiring during the pandemic.

Meanwhile, for Accenture, the job cut could be due to a slowdown in tech investment from enterprises as well. Most companies did invest heavily in technology initially when the pandemic started. However, as more employees return to work in the office, companies are being more prudent in how they spend their funds, especially in tech.

Gartner reported that global IT spending contracted 0.2% in 2022 to US$4.38 trillion. This clearly indicates that businesses are taking a more cautious approach to how they spend on tech. Emerging technologies like the metaverse, for example, are no longer being hyped for most organizations, with funds being focused more on cybersecurity and AI instead.

The Gartner report also stated that while inflation continues to erode consumer purchasing power and drive device spending down, overall enterprise IT spending is expected to remain strong.

For now, Accenture will lay off 19,000 employees, and it may not be the last company to do so. At the end of the day, with economic uncertainties on the horizon, how companies spend on technology may have the final say on how many more layoffs will take place in 2023.

The post Reduced tech spending sees Accenture lay off 19,000 staff globally appeared first on Tech Wire Asia.