An “obsession” with efficiency and the emergence of artificial intelligence (AI) are among the forces driving the new rounds of layoffs at technology companies since the start of the year, experts have said. On Jan 9, there was a 10 per cent cut of its contractors for the company running language-learning application Duolingo, and it said that AI was part of the reason. This was followed by livestreaming platform Twitch announcing a cut of 500 people, or 35 per cent of its workforce.
Its parent company, Amazon, also laid off hundreds of employees across Prime Video and MGM Studios. Google followed suit, letting go hundreds of employees from its devices and services business
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Singapore-Johor Special Economic Zone: Smoother border crossing and tax incentives high on companies' wish listSingapore businesses hope that the upcoming Singapore-Johor Special Economic Zone will address the congestion at the land links between Singapore and Johor. They also want measures to help them recruit workers in Johor and financial incentives. Energy-intensive companies and healthcare operators may find the economic zone attractive.
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Malaysia International Business Awards Recognize Contributions of Foreign CompaniesThe Malaysia International Business Awards is a prestigious annual program that recognizes the significant contributions and outstanding achievements of international companies operating in Malaysia. The awards highlight the global impact and influence of foreign businesses within Malaysia's business landscape.
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Singapore Remittance Companies Directed to Suspend Use of Non-Bank Channels for Transfers to ChinaRemittance companies in Singapore have been directed to suspend the use of non-bank and non-card channels when providing cross-border money transfer services to China for the next three months. This decision comes after numerous reports of frozen remittances through such channels.
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