Displaying items by tag: CEO
US technology giant Apple has announced that it will impose a recruitment cutback - which has been primarily forced due to weak sales on the company’s iPhone devices in the lucrative Chinese market.
Bloomberg has reported that Apple CEO, Tim Cook, announced the recruitment cutbacks just a day after he sent a letter to Apple investors that warned the company was bracing itself for a year-on-year decline in revenue for its fiscal Q1, which would shave $5bn from its guidance.
In a series of meetings that were held following the disclosure, it was reported that Cook informed some staff that a number of divisions would reduce hiring, but stated that he didn’t think a complete freeze in recruitment would be an appropriate solution to take.
In addition to this, it has been further disclosed that the CEO is also yet to determine which divisions will face hiring cutbacks. However, it is believed that divisions such as Apple’s AI team will not be affected due to the leverage of investment made by the US tech company into the emerging technology.
The move will also not affect plans to open a state-of-the-art new office in Austin, Texas or its expansion plans in Los Angeles, where the company is fleshing out its original video content ambitions.
Bloomberg also pointed out that Apple has hired new staff at a significant rate over the past decade. The company recruited 9,000 workers in its most recent fiscal year, taking the total up to 132,000, while adding 7,000 a year earlier.
US technology behemoth Apple has signed a new agreement with Samsung in relation to its streaming and content services in an effort to offset a decline in iPhone sales. The deal brokered between Apple and the South Korean conglomerate will enable the use of iTunes streaming services on Samsung smart TVs.
To support the accelerated build out of 5G in the United States, European telecommunications vendor Ericsson will increase its investment in the market. This series of strategic initiatives will allow Ericsson to operate even closer to its customers, meeting the growing demand for 5G globally and in the region.
The investments will fall into two categories: 1) increase research and development work done close to customers in the US and 2) increase flexibility to shorten the timeline for new product introduction and product delivery to customers. This will enable Ericsson to recruit new expertise from the US, complementing the company’s existing highly-skilled employees in the region.
Börje Ekholm, President and CEO of Ericsson, says: “The United States is our largest market, accounting for a quarter of Ericsson’s business over the last seven years. To serve the demand of these fast-moving service providers, we are strengthening our investment in the US to be even closer to our customers and meet their accelerated 5G deployment plans.”
Ericsson predicts that 5G subscriptions will reach the 150 million-mark, accounting for 48 percent of all mobile subscriptions in North America by the end of 2023.
Increase R&D in the US:
In late 2017, Ericsson opened the Austin ASIC Design Center in Austin, Texas, to focus on core microelectronics of 5G radio base stations to accelerate the path to 5G commercialization. The 1,400-square-meter facility (15,000-square-feet) will have 80 employees once fully staffed.
Ericsson will also open a new software development center with baseband focus in 2018, employing more than 200 software engineers once fully operational. This facility and its employees will further strengthen Ericsson’s 5G software development. Baseband provides intelligence to the radio access network. It is also the interface between the core network and radio units, processing and forwarding voice calls and internet data to end users.
Beginning in 2019, both of these facilities will introduce 5G products and software features into the Ericsson portfolio, and will be available for customers globally, including in the US.
Additionally, Ericsson will increase its investment in Artificial Intelligence (AI) and automation, employing around 100 specialists in North America by the end of 2018. This team will work on utilizing AI technologies to accelerate automation, examine product road maps and explore new business opportunities. They will focus on boosting the company’s current portfolio, strengthening customer engagements and promote innovation of new disruptive business opportunities.
New product introduction and manufacturing in the US:
To increase flexibility in bringing new products into the market, Ericsson will recruit a dedicated team to work specifically on introducing products for the US market, conducting production engineering, testing/integration and supply preparations on early prototypes. This will be done in close collaboration with US-based R&D resources.
To make 5G products available to customers as fast as possible, Ericsson will also begin manufacturing in the US in the fourth quarter of 2018. This will enable Ericsson to operate closer to customers -- providing volume production of next-generation radios and the fast introduction of new products into the US market. Initially, Ericsson will work with a production partner and the first radios for the US will be produced before the end of 2018.
Beleaguered social media behemoth Facebook has been subjected to further scrutiny over its data sharing policies following a report by the Wall Street Journal. The WSJ has claimed that Facebook offered deeper access to user records in a series of customized data sharing deals.
According to the report in the New York-based publication the Silicon Valley based social networking firm struck agreements, known internally as whitelists with a small group of companies which allowed access to users’ data which included connections, phone numbers and a metric that measures the closeness of a user with other users in its network.
When quizzed about these agreements and whitelists by The Wall Street Journal, Facebook acknowledged the deals which included agreements with enterprises such as the Royal Bank of Canada and Japanese car manufacturer Nissan, among others.
It was further alleged that the access was offered to companies which advertise on the social network or were valuable for other reasons, the newspaper said. In addition to this, it was further disclosed that Facebook continued to offer such access for periods lasting weeks and months after declaring it had cut off access to third party developers in 2015.
Company officials told WSJ Facebook struck the deals to improve user experience, test new features and allow certain partners to wind down existing data sharing projects. The latest revelation is the latest in a string of publicly damaging setbacks for the company, which faced fierce criticism in recent months over its data sharing activities.
Last week, Facebook’s data sharing practices with 60 device makers, including China-headquartered vendors, was flagged by a US politician. The company is also attempting to deal with the fallout of revelations in March that it shared data of 87 million users with Cambridge Analytica. It was also announced last week that Instagram had overtaken Facebook amongst teenagers and young adults.
British telecommunications operator BT has announced that current CEO Gavin Patterson will depart from his role later in the year after weeks of speculation regarding his position.
Patterson has been subjected to intense scrutiny from BT shareholders who expressed concern at the direction of the group under his leadership. Chairman of BT Jan du Plessis confirmed the CEO’s departure via a statement, citing that recent results indicated that it was clear change was needed to address the slump.
In the statement, du Plessis said, “The board is fully supportive of the strategy recently set out by Gavin and his team. However, the ‘broader reaction’ to recent results has demonstrated to Gavin and me that there is a need for a change of leadership to deliver this strategy".
BT announced last month that it plans to axe over a thousand jobs in a bid to offset cash problems and also confirmed it would relocate its headquarters and move out of its famous London base. BT has in recent years launched a costly push into broadcasting live Premier League football matches, hurting the group's bottom line.
In addition to launching BT Sport during his five years as CEO, Patterson also purchased mobile operator EE from Deutsche Telekom and Orange in a £12.5-billion ($16.8-billion, 14.2-billion-euro) deal.
Following Friday's announcement, BT's share price was down 0.44 percent at 202 pence on London's benchmark FTSE 100 index, which was down 0.8 percent overall in early deals.
"Since 2016, BT's share price graph resembles something of a black run; pretty much always on a downward trend and with a few nasty cliffs here and there," noted George Salmon, equity analyst at Hargreaves Lansdown. Shareholder confidence has followed the share price down," he added.
US technology colossus Apple is reportedly renegading on a previous commitment that they made to the Irish government on the construction of $1 billion data center in rural Ireland. Irish Taoiseach Leo Varadkar has publicly disclosed that Apple CEO Tim Cook will no longer commit to the ambitious project.
However, the Taoiseach stressed that Dublin would do everything necessary in order to keep the project alive and facilitate whatever Apple needs to see the data center constructed. Apple initially disclosed its intentions to erect the facility in a rural location in the West of Ireland in February 2015. Its decision to go to a rural location was to take advantage of green energy sources located nearby.
However, the project has been subject to lengthy delays due to a number of planning objections over the last two years, and now Apple is eyeing up other potential location for the construction of its new data center. Varadkar met Apple’s CEO, but admitted that Cook did not commit to the proceeding with the project.
The Taoiseach said, “We didn’t get a start date, or a definite commitment or anything like that, but I did stress to Apple that the government would do anything within our power to facilitate the resumption of the project.”
Ireland’s Prime Minister is currently touring the US meeting potential new investors. Ireland relies heavily on foreign multinational companies like Apple for the creation of one in every 10 jobs created across the economy and sees major investments such as data centers as a means of securing their presence in the country.
Apple declined to commit when pressed on whether they remained committed to the project. A similar Apple center which was announced at the same time in Denmark is set to begin operations later this year, whilst Apple also announced in July that it would build its second EU data center in the Nordic region.
The government has said it is considering amending its planning laws to include data centers as strategic infrastructure, thus allowing them to get through the planning process much more quickly. However, such legislation is expected to be met with opposition by those within parliament.
Ireland has a checkered history when it comes to planning permission and previous governments have been brought down due to shady financial agreements between developers and politicians. A change in legislation to facilitate Apple’s attempts to construct their data center is not likely to be well received by the general public still dismayed at the country’s refusal to accept an EU ruling that Apple owed the state €13 billion in unpaid taxes.
Uber’s new CEO has jetted into London for negotiations with the city’s transport regulator following the TFL’s (Transport for London) decision to suspend the license of the global ride-hailing service. The TFL deemed Uber unfit to run a taxi service and refused to renew its license.
The decision by the TFL left Uber reeling, as the UK, and in particular London is a massive market for the US firm. It was the latest setback in a long line of controversies and blows endured by Uber who have in recent months had allegations of sexual harassment within its work environment labelled at them.
In addition to this, Uber has faced countless legal battles in different markets all over the world – and pressure from stakeholders forced former CEO and founder Travis Kalanick to resign. TFL stated that it didn’t renew Uber’s license due to the firm’s approach to reporting serious criminal offences – and also highlighted safety issues in relation to Uber’s vetting process on its drivers.
London’s Mayor Sadiq Khan, who is also chairman of the TFL, told Uber that it would serve the organization better to actually attempt to address the concerns raised by the transport regulator, instead of hiring a team of PR experts and lawyers.
However, it has emerged that Uber’s new CEO, former Expedia boss Dara Khosrowshahi has arranged a face-to-face meeting with TFL commissioner Mike Brown who is tasked with the responsibility of running TFL’s day-to-day operations. It was further disclosed that Khan, a member of the Labor Party had sanctioned the meeting.
While Uber’s license was suspended with immediate effect on September 30th, its 40,000 drivers can still pick up fares until an appeal process has been exhausted, and that is likely to take up to several months.
Uber’s CEO facing a tough task to restore order to a firm which has been battered by a host of controversies, and his job hasn’t been helped by the calling of a board meeting in San Francisco which will look at curbing the influence of former CEO Kalanick.
Many expect Uber to resolve the issue with the TFL and claimed that Khosrowshahi made a good start by penning an open letter to Londoners in which he acknowledged that the company had made mistakes, before vowing to adopt a new approach to penetrate new markets globally.
It has been reported that Uber will learn its fate when a judge will rule on its appeal when it is officially submitted on October 13th. Uber’s competitors have wasted no time in attempting to gain its business. London’s second-biggest private hire firm Addison Lee said on Friday it was planning to increase its driver numbers in London by up to a quarter.
Uber’s newly-appointed CEO Dara Khosrowshahi has vowed to take the global ride-hailing firm public within the next three years. His appointment as CEO comes after months of unsettlement within the organization following the high-profile resignation of outgoing CEO Travis Kalanick.
Uber has been embroiled in a number of controversies and scandals that range from sexual harassment claims to engaging in illegal taxi operations. However, the new CEO who is the former head of travel website giants Expedia has declared the company ‘has to change’ in order for it to continue to grow its business and move past the issues it has encountered.
The incoming CEO is expected to take the helm at Uber next week. Reports circulating from his meeting with Uber staff in San Francisco last week are claiming that Khosrowshahi is focusing on regaining market share from its main competitor Lyft.
He has reportedly vowed to employees and stakeholders that he will take the company public in the next 18-36 months, but details on a potential IPO remain scarce. However, financial analysts have said that an Uber listing on the stock exchange would likely make it one of the biggest technology IPOs of the last decade.
Uber is the world’s most valuable private company, and is valued at $68.5 billion, and many commentators feel that its time the global ride-hailing firm went public as it could in many ways be held more accountable for the scandals that has marred the organization in the last number of years. However, Uber declined to comment when queried on a potential timeframe for the IPO.
Uber was left red faced when a leaked audio recording of his speech to staff was published by Yahoo. A fired-up Khosrowshahi told disclosed to staff how he landed the top job at Uber and outlined what workers can expect from him. He conceded in the audio recording that the company was in a battle, but insisted he would fight ferociously for all staff.
Khosrowshahi said, "I'm not going to bullshit you, and I will ask you not to bullshit me. We're in a battle here. I think everybody knows it. I'm here, I made the decision, I am all in, and I'm going to fight for you with every bone in my body."
The former Expedia boss said he was convinced by Spotify founder Daniel Ek to apply for the top job after initially telling a headhunter he wasn’t interested in the job. He also disclosed that he met with every Uber board member during an intensive interview process – and in addition to this, he also revealed how Uber co-founder and former CEO Travis Kalanick who is still a board member of the ride-hailing company persuaded him to leave his role at Expedia and become the new CEO at Uber.
The new Uber CEO said of his meeting with Kalanick, "He spun this web, this dream, of transforming cities and the transportation grid and deliveries and robots taking food from the street corner to the home. And it's just this incredible vision. And I'm like, 'Well, I sell airline tickets and you can download them onto your phone.”
US cities Seattle and Portland are set to get ‘smarter’ following the launch of a free app which allows users to search for on-demand rides. It will be formally introduced after the completion of a successful three-month test period.
The application which is entitled Migo, is basically a search engine that allows users to search, compare and hail multiple type of ride-hailing transportation like Uber, Lyft, Car2Go and Seattle Yellow Cab, without engaging in the time consuming process of jumping from one application to the other.
The Migo ‘free app’ display real-time data to users and estimates their wait and walk time, whilst in addition to this the applications enables you to search, hail and book a ride service all from within the application.
The new service which is being launched in Seattle and Portland first will be initially only available on the iPhone, but a spokesman for Migo has confirmed that it will be quickly expanding to additional markets such as Android. Seattle and Portland have been identified as ‘key’ cities for the launch of Migo because of their role in the White House Smart Cities Initiative, which was launched in 2015. The program was specifically designed to accelerate the delivery of smart city solutions which includes eco-friendly transportation options that best leverage the cities resources and infrastructure.
The CEO and founder of Migo, Jeff Warren claimed that both cities were the ideal locations to engage in testing on innovative transportation services such as its free application.
Warren said: "Seattle and Portland are hotbeds for testing new transportation services and models, like car-share, ride-share, carpooling, bikes and taxi services. Migo was designed to help residents first discover and then easily choose their best ride option – whether that means closest, cheapest, most environmentally friendly or simply the coolest option to get from place to place. And with the rapidly expanding populations of both Seattle and Portland, we see Migo as a key partner to help keep the cities moving."
Italian telecommunications incumbent Telecom Italia has appointed a new general manager – in a move that sees its largest shareholder tighten its grip on the operator. Vivendi’s Amos Genish will now run the company’s day-to-day operations.
Vivendi has a 24% stake in Telecom Italia, and the new appointment comes just days after CEO Flavio Cattaneo departed the company after just sixteen months at the helm, following a number of clashes with the French shareholder.
The new general manager has enjoyed a decorated career, he was CCO at Vivendi, and he formerly headed the Brazilian subsidiary of Spanish operator Telefonica, and also founded GVT, a leading Brazilian mobile operator. Genish, a 57 year-old former Israeli captain will now oversee all of the company’s operations and will be based in Rome.
Cattaneo is the second CEO to leave Telecom Italia in less than just two years after he repeatedly locked horns with the French group which is led by billionaire Vincent Bollore. He has previously expressed an ambition to establish a southern European media powerhouse. Vivendi CEO, Arnaud de Puyfontaine who also acts as Telecom Italia’s executive chairman - will assume the responsibilities of CEO on a temporary basis.
In addition to this, it was also disclosed that further announcements on governance will be made in September. Analysts have claimed that many investment funds that have shares in Telecom Italia, remain unflustered by the latest leadership reshuffle, and are confident that Genish can reinvigorate the operator with a number of deals, which may include a possible sale of the Brazilian unit to a spin-off of the Italian fixed-line network.
De Puyfontaine has admitted that he plans to establish a joint-venture between Telecom Italia and Vivendi’s pay TV unit Canal+, which would play into the French company’s vision of expanding its content distribution across platforms. The Italian operator’s only asset abroad remains its Brazilian unit, and de Puyfontaine said it was doing a good job, but remained coy in relation to a potential sale.
The idea of TIM exiting Brazil has been gaining traction among investors since Vivendi became a top shareholder, because the French group sold its own Brazilian operations before investing in Italy.