Hashtag Trending Nov. 24 – iPhone factor protests; Hearing to discuss Ticketmasters monopoly; HP layoffs

Protests break out at an iPhone factory in China, US Senate to hold a hearing to discuss the lack of competition in the ticketing industry, and HP plans to lay off a large part of the employees.

That’s all the tech news that’s trending right now, welcome to Hashtag Trending. It’s Thursday, November 24th and I’m your host, Ashee Pamma.

Video footage circulated widely of hundreds of Foxconn workers marching in protest, clashing with police and some being confronted by people in hazmat suits. On Tuesday, a protest broke out after employees who had traveled long distances to take jobs at the factory complained that the company had changed the terms of their pay, according to an employee. According to MacRumours, some videos captured workers complaining about the food they were provided, others protesting that they were not paid bonuses as promised. The plant is Foxconn’s largest ‌iPhone‌ factory with approximately 200,000 workers. Foxconn is responsible for assembling about 70 percent of the iPhones that Apple sells, and it has struggled to keep employees on site due to COVID lockdowns. Apple did not immediately respond to a request for comment. AP news said

Also Read :  Global Back Office Workforce Management Market Analysis Report 2022-2028: Integration of Artificial Intelligence & Demand for Mobile Workforce Management Apps - ResearchAndMarkets.com

A US Senate antitrust panel will hold a hearing to discuss the lack of competition in the ticketing industry after the chaos that erupted on the Ticketmaster website during the sale of Taylor Swift tickets, said Senator Amy Klobuchar, chair of the panel. According to Euro news, In a statement, Ticketmaster denied any anti-competitive practices and said it remains under a consent decree with the judicial decree following a 2010 merger, adding that there was no evidence of systemic violations. However, Klobuchar said the high fees and disruption on the site show how Ticketmaster’s dominant market position means the company has no pressure to improve. Ticketmaster previously admitted to pre-sale issues for Swift’s Eras Tour, the pop superstar’s first tour in five years, due to unprecedented demand and an effort to keep out bots run by ticket scalpers.

Also Read :  Prison inmate charged with $11m fraud via cell phone • The Register

Computer maker HP said it plans to cut 4,000 to 6,000 employees over the next three years. According to CNBC, HP is the latest technology company to announce its plan to get through the current economic challenges. HP is trying to manage a decline in its computer sales. In a statement, HP said its “Future Ready Transformation Plan” should result in annual gross rate savings of $1.4 billion or more over the next few years, with about $1 billion in costs including restructuring. Of the $1 billion, $600 million will come in fiscal year 2023, which ends on October 31, 2023. Shares rose one percent in extended trading after the announcement.

Amazon plans to spend $1 billion a year on theatrical movie releases. According to Bloomnerg, the company said it aims to make every 12 to 15 films for theaters. A smaller number of films will be produced in 2023 as Amazon builds up its production. Following this announcement, Cinemark jumped 11 percent, IMAX increased by seven percent and AMC saw an increase of five percent. Amazon has focused on its entertainment section and original content over the years with its Prime Video platform. The company spent $13 billion on content for its video and music streaming services last year, up from $11 billion in 2020.

Also Read :  Maybank to fully migrate OTP authentication method to Secure2u

That’s all the tech news that’s trending right now. Hashtag Trending is part of the ITWC podcast network. Add us to your Alexa Flash briefing or your Google Home daily briefing. Make sure to sign up for us Daily IT Wire Newsletter to receive all news directly in your inbox every day. Also find the next episode of Hashtag Tendances, our weekly hashtag trending episode in French, which drops every Thursday morning. If you have a suggestion or a tip, drop us a line in the comments or via email. Thanks for listening, I’m Ashee Pamma.



Source

Leave a Reply

Your email address will not be published.