Protests have erupted at an iPhone factory in China, the US Senate has held a hearing to discuss the lack of competition in the ticket industry, and HP plans to lay off a significant portion of the staff.
This is all the trending tech news right now, welcome to Hashtag Trending. It’s Thursday, November 24th, and I’m your host, Ashi Bama.
Video footage was widely circulated of hundreds of Foxconn workers marching in protest, clashing with police, and some confronting people in hazmat suits. On Tuesday, a protest erupted after employees who had traveled long distances to take jobs at the plant complained that the company had changed their salary terms, according to one employee. according to MacRumoursSome of the videos depicted workers complaining about the food they were provided, while others protested that they had not received rewards as promised. The factory is Foxconn’s largest iPhone factory and employs approximately 200,000 workers. Foxconn is responsible for assembling about 70 percent of the iPhones Apple sells, and has struggled to keep staff on site due to COVID shutdowns. Apple did not immediately respond to a request for comment. AP News He said.
The US Senate Antitrust Committee will hold a hearing to discuss the lack of competition in the ticketing industry in the wake of the chaos that erupted on the Ticketmaster website during Taylor Swift’s ticket sale, said Senator Amy Klobuchar, the committee chair. according to Euro NewsIn a statement, Ticketmaster denied any anti-competitive practices and said it was still under a consent decree with the Department of Justice after the 2010 merger, adding that there was no evidence of systemic abuse. However, Klobuchar said the high fees and disruptions to the site show how Ticketmaster’s dominant position in the market means the company is not facing pressure to improve. Ticketmaster had previously blamed pre-sale issues on Swift’s Eras tour, the pop star’s first tour in five years, on unprecedented demand and efforts to block bots run by ticket snatchers.
Computer maker HP said it plans to cut 4,000 to 6,000 employees over the next three years. according to CNBCHP is the latest technology company to announce its plan to overcome the current economic challenges. HP is trying to manage the decline in its PC sales. In a statement, HP said its “future-ready transformation plan” should result in annual total run 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 October 31, 2023. The remainder will be split between fiscal years 2024 and 2025. Following the announcement, shares rose 1 percent in extended trading.
Amazon plans to spend $1 billion annually on theatrical movie releases. According to Bloomnerg, the company said it aims to produce 12 to 15 films for cinemas each. Fewer movies will be made in 2023 as Amazon ramps up production. After the announcement, Cinemark stock jumped 11 percent, IMAX rose seven percent and AMC saw a 5 percent increase. Amazon has focused on its entertainment and original content division over the years with its Prime Video platform. The company spent $13 billion on content for video and music streaming services last year, up from $11 billion in 2020.
This is all the tech news that is trending right now. Hashtag Trending is part of the ITWC Podcast Network. Add us to Alexa Flash summaries or Google Home daily summaries. Make sure to register with us Daily ATWire Newsletter to get all the important news straight to your inbox every day. You can also watch the next episode of Hashtag Tendances, the weekly Hashtag Trending episode in French, which airs every Thursday morning. If you have a suggestion or advice, drop us a line in the comments or via email. Thank you for listening, I’m Ashi Bama.