In a statement Finnish telecoms giant Nokia said it plans on trimming up to 10,000 jobs within the next two years. The cost cutting move is aimed at boosting its research capabilities. In a statement Nokia said, it expects to incur around 600 million euros to 700 million euros in restructuring and associated charges by…
In a development that underscores cost cutting measures adopted by Amazon.com Inc, the e-commerce giant said it has shifted some computing power for its Alexa voice assistant to its own custom-designed chips, away from chips supplied by Nvidia Corp. When consumers ask devices equipped with Alexa, including Amazon’s Echo line of smart speakers, a question…
Following Tesla’s unveiling of its plans to produce its own batteries in order to trim costs, shares of its two battery suppliers fell on Wednesday. Shares of South Korea’s LG Chem and Japan’s Panasonic have fallen with the news reaching the market. After initially opening higher, LG Chem’s shares was trading down by 3.1% while…
The development underscores increased competition in the U.S. aircraft manufacturing market. As per source familiar with the matter at hand, Boeing Co has notified its employees that it has planned for another round of involuntary layoffs which will see hundreds of engineers at its commercial airplanes unit leave their jobs. This latest job cut by…
To engineer a turnaround, BlackRock is increasingly focusing on “scientific” data-driven approaches to beat the market. BlackRock Inc, the world’s biggest asset manager, has stated it will be overhauling its actively managed equities business by dropping fees, cutting jobs, and by relying more on computers to pick stocks in a move that underscores the growing…
The new manufacturing method could not only save significant costs but also benefit from an improved technological upgrade cycle. Known for manufacturing huge, gigantic satellites that cost a bomb, nearly $150 million, aerospace giant Boeing plans on adopting new production practices which could significantly lower its production costs. The Wall Street Journal has reported, Boeing plans…
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