![]() ![]() “Within each organisation’s performance management systems, we will see some kind of Bell Curve-based evaluation where both high performers and the lowest performers, in comparison, will be identified. IT staffing services firm Quess expects an increasing number of companies to scrutinise the cost of individual resources against the productivity delivered during the upcoming appraisal season. Tata Consultancy Services, Wipro and Tech Mahindra reported a slight dip in employee headcount. The top-tier companies reported a dip in attrition numbers, which had peaked during the first half of the ongoing fiscal year. The cost optimisation drive is expected to be led by freshers becoming productive over the next few quarters. Layoffs in 2023: these companies have announced job cuts amid economic downturn ![]() Nasiru's profound expertise enriches the newsroom, ensuring a nuanced understanding of the complex tapestry of international affairs.Since July 2022, Big Tech firms like Google, Microsoft, Meta and Amazon, among others, have fired almost 200,000 employees, citing cost issues.ĭuring their third quarter results, the top IT services providers said they would prioritise internal cost optimisation solutions over the next few quarters to boost margin recovery. ![]() Backed by robust academic credentials and a vast journalistic journey, he offers razor-sharp analysis and in-depth insights into global occurrences. Hailing from Nigeria, Nasiru Eneji Abdulrasheed stands as a distinguished political scientist and a seasoned journalist for BNN Nigeria. Though Figma remains independent for now, the market is rife with speculation that other major players, like Microsoft, could potentially make a bid for Figma in the future. Concerns were previously raised about potential increases in service costs, reminiscent of Adobe’s current pricing model for Photoshop. The termination of the merger has been met with widespread relief on the internet, where users expressed gladness over Adobe not gaining further control over the design tool industry, given its existing dominance in other design areas. Choosing the latter, Adobe decided to call off the deal rather than divest, agreeing to pay Figma a hefty $1 billion reverse termination fee, as stipulated by the US Securities and Exchange Commission (SEC). Regulatory Hurdles and the Termination FeeĪfter intense investigation, the CMA issued an ultimatum: Adobe must sell off Figma’s main product, Figma Design, or face a block on the acquisition. Adobe’s attempt to catch up with cloud-first, collaborative tools like Figma and Canva has been unsuccessful, and the company was seen likely to invest in bolstering their Firefly AI suite. The failure of Adobe’s own UI design platform, Adobe XD, had ignited their interest in Figma. Adobe’s Unsuccessful Foray into UI Design Initially announced in September 2022, the colossal $20 billion deal had been under relentless scrutiny from the EU’s European Commission and the UK’s Competition and Market Authority (CMA) over concerns of creating a near-monopoly in the design software market and potentially stifling innovation. ![]() Adobe Abandons $20 Billion Figma Acquisition Amid EU Regulatory PressureĪdobe’s audacious bid to acquire Figma, the cutting-edge design app, has been abruptly derailed due to stringent regulatory pressure from the European Union. ![]()
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