The Sunday Brew#13
In this week's brew, in the spotlight are WEF Davos 2023, Layoffs at Google and the anti-trust case of Google in India
Your weekly brew made up of top stories, key events and some great insights; slow roated & served hot!
In this week’s brew:
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Layoff Saga: This time it is Google
In the continued tech layoff story, this time it is Google that announced a job cut to the tune of 12000 which is about 6% of its global workforce. Within 24 hours of announcing the layoffs, horrid stories of employees being shut out of their accounts have started dropping in which sounds quite opposite of what the CEO Sundar Pichai had communicated in his email to the employees. It seems that the drone projects & Halo have seen the biggest cuts.
Wrap on Davos WEF 2023
World Economic Forum 2023 held at Davos from 16th January to 20th January just concluded. The annual meeting happening in the midst of unraveling economic crisis on the heels of long pandemic and seemingly unending war in Ukrain, had a thematic focus on energy & food crisis, high inflation, development headwinds and geopolitcan risks.
The overall tone of the meeting had been of cautious optimism, and there seemed a hope for better tomorrow. It had been argued that we might have faired better than what was expected and from here on, things are only going to get better as both US & EU expressed being out of recession risk. China also declared itself opening up for business. Here are the key takeaways from the meeting.
McKinsey Daily Updates & Reports on Davos 2023
Anti-Trust Debacle for Google in India
In October 2022, Competition Commission of India (CCI) had fined Google $161 million and issued directives to lessen restrictions that it puts on devices running Android. While Google claimed that it policies have helped them run Android for free; the critic claimed it to be anti-competitive. Here are the list of directives.
Google had moved to the Supreme Court, after their appeal at a tribunal to block the anti-trust action was rejected. On thursday, Supreme Court upheld the tribunals decision and thus the anti-trust actions. The decision while is a setback for Google, is being seen as a great victory for startups in India. The directives will open the market and boost competition for other players as now the Play Store would be expected to house other app marketplaces and Google will not be able to put restrictions on uninstalling default application.
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