This week in the world of technology, tech giants Amazon and Microsoft announced layoffs, affecting employees across divisions. Securities and Exchange Board of India (SEBI), India’s stock market regulator, took action against financial influencers for misleading advice. Meanwhile, Nvidia saw a huge drop in its market value, losing $500 billion due to Chinese new AI app DeepSeek which has taken the tech world by storm.These and more in top tech stories of the week.
Microsoft terminates employees with immediate effect and no severance pay
Microsoft has initiated immediate job cuts due to performance issues, with impacted employees losing access to systems, buildings, and benefits on their last day. The termination letters, obtained by Business Insider, state that employees are being let go because their “job performance has not met minimum performance standards and expectations” for their positions. Impacted workers face immediate removal of access to Microsoft systems, accounts, and buildings. The cuts are said to be a part of broader layoffs in various divisions, but headcount impact is expected to be minimal.
SEBI bans financial influencers selling stock tips
The Securities and Exchange Board of India (SEBI) has banned the use of live stock market data for educational purposes to curb the spread of real-time trading advice. Stock market educators can only use data with a three-month lag. “Such person (someone who is engaged solely in education) should not be using the market price data of the preceding three months to speak/talk/display the name of any security including using any code name of the security in his/her talk/speech, video, ticker, screen share etc. indicating the future price, advice or recommendation related to security or securities,” SEBI said in a circular. Finfluencers must now register with SEBI, affecting their relevance and brand deals significantly.
Amazon lays off employees in communications and sustainability divisions
Amazon is undergoing restructuring, leading to layoffs in its communications and sustainability teams. While the company did not disclose the exact number of affected roles, an internal memo obtained by CNBC described the cuts as “small.” Drew Herdener, who heads Amazon’s public relations and corporate responsibility efforts, informed employees about the decision, explaining that some positions were “too narrowly scoped” or added “unnecessary layers” to the organization. Impacted employees will receive financial assistance and support. Despite these changes, Amazon remains dedicated to its sustainability commitments, including reaching carbon neutrality by 2040 and transitioning to 100% renewable energy by 2025.
Nvidia loses $500 billion in market value as Chinese AI company DeepSeek gains popularity
Nvidia, the world’s most-valuable Artificial Intelligence (AI) company, lost more than $500 billion of its market value. The emergence of a low-cost Chinese generative AI model from DeepSeek triggered a significant sell-off in U.S. tech stocks on January 27, raising concerns about U.S. dominance in the AI industry. DeepSeek, a Hangzhou-based startup, claims its chatbot can match the capabilities of leading U.S. AI models with significantly lower development costs (reportedly $5.6 million compared to billions invested by U.S. companies). Nvidia is a key chip supplier for the AI industry.
Zoho’s Sridhar Vembu steps down as CEO
Zoho Corporation’s CEO and co-founder, Sridhar Vembu, announced his decision to step down from his position as CEO. Vembu will transition to the role of chief scientist at the company, where he plans to focus on deep research and development (R&D) initiatives, especially in the rapidly advancing fields of artificial intelligence (AI) and technology. In a statement on X, Vembu explained his decision, citing the various challenges and opportunities the company faces. “In view of the various challenges and opportunities facing us, including recent major developments in AI, it has been decided that it is best for me to focus full-time on R&D initiatives, along with pursuing my personal rural development mission,” Vembu said.
Elon Musk gets ‘compliment’ from Facebook founder Mark Zuckerberg
Mark Zuckerberg recently lauded Elon Musk’s X Community Notes system as more effective than Meta’s prior fact-checking method during Meta’s Q4 2024 earnings call. Zuckerberg contended that this change would improve Meta’s product and countered claims that the company is disengaging from combating misinformation. During an earnings call, he said “I’m not afraid to admit when someone does something that’s better than us. I think the community notes system like what X has had for a while is actually just more effective than what we were doing before.”
Apple rolls out iOS 18.3 update
Apple has released iOS 18.3, featuring enhanced visual intelligence that allows iPhone users to identify plants and animals and add events to the Calendar app from scanned posters. The update also improves notification summaries for better accuracy and personalization, and includes bug fixes and performance enhancements. Users can update to iOS 18.3 by going to Settings > General > Software Update.