Monday, June 24, 2024

Artificial Intelligence news

Synthesia’s hyperrealistic deepfakes will...

Startup Synthesia’s AI-generated avatars are getting an update to make them even...

How underwater drones could...

A potential future conflict between Taiwan and China would be shaped by...

How generative AI could...

First, a confession. I only got into playing video games a little...

I tested out a...

This story first appeared in China Report, MIT Technology Review’s newsletter about...
HomeTechnologyT-Mobile US to slash...

T-Mobile US to slash 5,000 jobs as cheaper plans weigh on costs


T-Mobile US said Thursday it would reduce its workforce by about 7% by cutting 5,000 jobs in the US as the wireless carrier grapples with rising costs related to adding more subscribers in a competitive market.

The carrier has been taking the lion’s share of subscribers looking for cheaper plans in the last three quarters through discounted bundles, but that has taken a toll on T-Mobile.

“What it takes to attract and retain customers is materially more expensive than it was just a few quarters ago,” CEO Mike Sievert said in an email to employees.

The jobs cuts over the next five weeks will target corporate and back-office roles, and some technology jobs, Sievert said, adding that retail and consumer care divisions will not be impacted.

The carrier expects to incur a pre-tax charge of about $450 million in the third quarter.

T-Mobile had said in July that it expects wireless subscriber net additions between 5.6 million and 5.9 million.


T-Mobile expects to incur a pre-tax charge of about $450 million in the third quarter.
Christopher Sadowski

Sievert said some areas of the business will implement more centralized models to improve efficiency and save costs.

Rival AT&T had also expanded its cost-cutting plan to $2 billion in July.



Article Source link and Credit

Continue reading

Car dealerships forced to process orders by hand after cyberattacks

More than 15,000 car dealerships throughout North America scrambled to process orders by hand after cyberattacks shut down their computerized management system this week. Car dealers in the US and Canada including those that sell BMW were having difficulty...

Amazon plans revamp of Alexa with monthly fee, AI features

Amazon is planning a major revamp of its decade-old money-losing Alexa service to include a conversational generative AI with two tiers of service and has considered a monthly fee of around $5 to access the superior version, according to people with direct knowledge of the...

Ferrari’s first electric car to cost whopping $500K: report

Ferrari’s first electric car will cost at least 500,000 euros ($535,000), a source familiar with the matter told Reuters, as the luxury automaker prepares to open a plant that will make the model – and could boost group...