Tag Archive for: Layoffs

The Latest Victims of Tech Layoffs? Ransomware Hackers


Now, ransomware groups like Conti are downsizing.

Are Small Businesses Finally Safe From Attacks?

Ransomeware is particularly tough to defend against as a small business, and 82% of 2021 attacks targeted organizations with fewer than one thousand employees.

Granted, some industries were at a higher risk than others, with healthcase constituting one major target, and financial services another (ransomware accounted for 81% of all 2020 financial cyberattacks).

While businesses are all recommended not to pay any ransom, the dirty secret is that most of them do just that, with one survey finding 88% of executives who had already been hit by ransomware admitting that they would pay if attacked again.

In 2023, small businesses just might be able to breath a little easier.

But with ransomware seemingly on the decline, other cyber threats may be worth considering, too, from company email compromise to DDOS attacks on VoIP services. One thing’s for sure: A lot of call center workers will need some new occupation, and there’s always another scam.

Source…

Qihoo 360 Denies Rumor of Disguised Layoffs – Pandaily


Reports surfaced Monday suggesting that Chinese internet security firm Qihoo 360 has recently laid off employees from several departments in a disguised manner.

According to the reports, an employee disclosed that the company had persuaded some staff members to quit after accusing them of clocking in and out on behalf of their colleagues. The source said that severance certificates and background checks could be affected if the staff members refused to leave. The HR department even reportedly persuaded pregnant women to leave, claiming that they would be compensated for leaving on their own initiative. The source also indicated that as the company is quite large, the layoffs involve almost all departments. The only difference is the precise number of staff laid off in each department. In addition, downsizing also involved the director and department leaders.

In response to the reports, Qihoo 360 said that the firm has discovered recent cases of a few staff members punching in and out on behalf of others during routine attendance checks. The phenomenon was allegedly confirmed through various multi-channel verification methods. Firm representatives categorized the “fake punching” as cheating, adding that such behavior severely violates the company’s regulations and values. Therefore, Qihoo 360 claimed it is handling the matter in accordance with the law, and that there is no such thing as “disguised layoffs” or forcible dismissal of pregnant staff.

Qihoo 360, founded in 2005, focuses on free internet security services and has released products such as 360 Security Guard, 360 Mobile Security and 360 Security Browser. In January, 2022, the company estimated net profit attributable to shareholders to be about 823 million yuan to 991 million yuan ($129 million-$156 million), a decrease of about 65.98%-71.75% year-on-year.

SEE ALSO: China Internet Security Service Provider Qihoo 360 Suffers Sudden Malicious Attack

Ever since the beginning of this year, many leading Chinese internet companies have grappled with reports of mass internal layoffs, including Didi, JD.com, Alibaba, and Tencent. One recent example was the granting of “graduation notices” – in effect,…

Source…

With 42,000 Layoffs Since 2017, AT&T Plans Thousands More Layoffs At HBO, Time Warner

Since 2017, AT&T has received not only a $ 42 billion tax break courtesy of the Trump administration, but billions more in regulatory favors from the Trump FCC, including the repeal of net neutrality, the erosion of much of the FCC’s authority to police natural telecom monopolies, and the elimination of broadband-specific privacy rules. In exchange, AT&T promised thousands of “high paying jobs” and a massive spike in investment. Instead, AT&T fired more than 42,000 employees and trimmed its overall 2020 investment. It’s nice work if you can get it.

And AT&T’s not done yet. AT&T spent roughly $ 175 billion DirecTV and Time Warner mergers thinking it could buy its way to streaming video domination. But that’s not working out so hot, and AT&T’s now doing everything in power to trim its balance sheet. That includes plans to sell DirecTV for a huge loss, and thousands more layoffs across Time Warner, HBO, and other recently acquired properties:

“AT&T’s WarnerMedia is restructuring its workforce as it seeks to reduce costs by as much as 20 percent as the coronavirus pandemic drains income from movie tickets, cable subscriptions and television ads, according to people familiar with the matter. The overhaul, which is expected to begin in the coming weeks, would result in thousands of layoffs across Warner Bros. studios and TV channels like HBO, TBS and TNT, the people said.

COVID will provide cover for AT&T, but these layoffs had already been in the works after investor backlash at AT&T’s merger mania. COVID will also create cover for the fact that this is all stuff that opponents of the AT&T Time Warner merger repeatedly warned would happen before being promptly ignored by regulators at the FCC and elsewhere. These mindless megadeals always come bearing ample promises about next-level innovation, right before delivering layoffs and higher prices for consumers and competitors alike.

The company’s promise that the deal wouldn’t result in price hikes for consumers? False. The company’s promise the deal wouldn’t result in higher prices for competitors needing access to essential AT&T content like HBO? False. AT&T’s promise they wouldn’t hide Time Warner content behind exclusivity paywalls? False. The idea that the merger would somehow create more jobs at the company? False. Falsehoods that were all taxpayer subsidized and rubber-stamped thanks to regulatory capture.

This being America, you can expect nobody, on absolutely any level of punditry, press, or government, to learn absolutely anything from this experience.

Techdirt.

AT&T plans thousands of layoffs at HBO, Warner Bros., rest of WarnerMedia

AT&T's logo pictured on a wall at its headquarters.

Enlarge / AT&T’s logo at its corporate headquarters on March 13, 2020 in Dallas, Texas. (credit: Getty Images | Ronald Martinez )

AT&T is planning thousands of layoffs at HBO, Warner Bros., and other parts of WarnerMedia as part of a plan to cut costs by up to 20 percent, The Wall Street Journal reported yesterday.

WarnerMedia is what used to be called Time Warner Inc. before AT&T purchased the entertainment company in 2018. Layoffs and cost cuts are nothing new at AT&T in general, including at WarnerMedia. But WarnerMedia has taken a particularly big hit since the pandemic began. AT&T laid off about 600 people from WarnerMedia in August, a prelude to the new cuts revealed yesterday. The Journal wrote:

AT&T’s WarnerMedia is restructuring its workforce as it seeks to reduce costs by as much as 20 percent as the coronavirus pandemic drains income from movie tickets, cable subscriptions and television ads, according to people familiar with the matter.

The overhaul, which is expected to begin in the coming weeks, would result in thousands of layoffs across Warner Bros. studios and TV channels like HBO, TBS and TNT, the people said.

WarnerMedia told the Journal that it has been significantly impacted by the pandemic and plans to reorganize to focus on growth opportunities. “We are in the midst of that process and it will involve increased investments in priority areas and, unfortunately, reductions in others,” WarnerMedia said. WarnerMedia had nearly 30,000 employees earlier this year.

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Biz & IT – Ars Technica