Lucid Motors has announced plans to lay off 6% of its workforce, which amounts to 400 employees, as a result of slow growth in the electric vehicle industry. The report further mentions that the layoffs will cost the company $21 million to $25 million USD and are expected to be completed by the end of…
AWS: $17 Billion Investment In Spain
AWS, Amazon Web Services, has announced plans to invest $17 billion USD to expand its data centers in Spain. The investment is expected to create 6,800 jobs in the Aragon region of Spain and contribute $24 billion USD to Spain’s GDP over the next decade. It will also support 17,500 jobs in local businesses. The…
Foursquare To Layoff 105
Foursquare Labs Inc., also known as Foursquare, is a technology company founded in 2009 and headquartered in New York. It specializes in location intelligence and data analysis. The company is known for its mobile app, Foursquare City Guide that allows users discover and share information about businesses, venues and point of interest. According to reports,…
Google: Fibre Optic Cable To Connect Africa With Australia
Google has announced plans to build the first subsea fiber optic cable called Umoja to connect Africa to Australia as it aims to improve internet connectivity on the continent. The Umoja cable will be anchored in Kenya and will pass through Uganda, Rwanda, the Democratic Republic of the Congo, Zambia, Zimbabwe, and South Africa before…
South Korea: $19 Billion Chip Industry Investment
South Korea has announced plans to invest $19 billion USD in a support package for the countries semiconductor chip industry. This plan includes the $7.30 billion USD investment package previously reported by Incognito blog, which aims to boost chip materials, equipment makers, and fabless companies throughout the semiconductor supply chain. The support package will also…
Ericsson: $50 Million 5G Factory Investment
Ericsson has announced plans to invest an additional $50 million USD to expand its 5G factory in Lewisville, Texas. The factory opened in 2020 and has been shipping 5G network products, including 5G and Massive MIMO radios, to all tier-one communications service providers in the United States. This investment will allow Ericsson to accelerate production…
Lamborghini Recalls 2,133 Vehicles
Lamborghini has issued a recall of 2,133 vehicles because the hood may open while driving. According to the notice from the National Highway Traffic Safety Administration (NHTSA), small gaps may form between the hood and front bumper when the vehicle is at high speed and can cause the separated hood latch to open and increase…
Pixar To Layoff 14%
Pixar Animation Studio is an American CGI film production company and a subsidiary of The Walt Disney Studios. It was founded in 1986 and is headquartered in Emeryville, California. Some of the films produced by the company are Toy Story, The Incredibles, and Monsters, Inc. According to reports, Pixar has announced plans to lay off…
Microsoft Launches Copilot For Teams
Microsoft has announced the launch of Team Copilot, aimed at bringing the AI virtual assistant experience to every user. Team Copilot will be available to customers later in the year. It will be integrated directly within Microsoft’s Loop and Planner tools and will be able to assign tasks, track deadlines, and notify team members when…
Red Lobster Files For Bankruptcy
Red Lobster Hospitality, LLC is an American casual dining restaurant chain founded in 1968 and headquartered in Orlando, Florida. The company is known for its crab, lobster, and shrimp dishes. As of 2024, it operates in over 500 locations worldwide. According to reports, Red Lobster has filed for Chapter 11 bankruptcy, citing macroeconomic conditions as…