Hashtag Trending Nov 24 – iPhone Factor Protests; Hearing to Discuss Ticketmasters Monopoly; HP Layoffs

Protests erupt at an iPhone factory in China, the US Senate holds a hearing to discuss the lack of competition in the ticketing industry, and HP plans to lay off a significant chunk of workers.

That’s all the tech news that’s trending right now, welcome to Hashtag Trending. It’s Thursday November 24th and I’m your host, Ashee Pamma.

Video footage of hundreds of Foxconn workers marching in protest, clashing with police and some confronted by people in hazmat suits has been widely circulated. A protest erupted on Tuesday after employees who had traveled long distances to take jobs at the factory complained that the company had changed their wage terms, an employee said. Corresponding MacRumors, some videos showed workers complaining about the food provided to them, while others protested that promised bonuses had not been paid to them. The plant is Foxconn’s largest “iPhone” factory with around 200,000 workers. Foxconn is responsible for assembling around 70 percent of the iPhones Apple sells and has struggled to keep staff on site due to COVID lockdowns. Apple did not immediately respond to a request for comment, AP News said.

A US Senate antitrust committee will hold a hearing to discuss the lack of competition in the ticketing industry following the chaos that erupted on Ticketmaster’s website during Taylor Swift ticket sales, said Sen. Amy Klobuchar, the committee’s chair . Corresponding Euro newsIn a statement, Ticketmaster denied any anti-competitive practices and said it remained under a consent decree with the Justice Department after a merger in 2010, adding that there was no evidence of systemic violations. However, Klobuchar said the high fees and disruptions to the site show that Ticketmaster’s dominant market position means the company isn’t under pressure to improve. Ticketmaster had previously blamed pre-sale problems for Swift’s Eras tour, the pop superstar’s first tour in five years, to unprecedented demand and an attempt to keep out ticket-scalper-powered bots.

The computer manufacturer HP wants to cut 4,000 to 6,000 jobs in the next three years. Corresponding CNBC, HP is the latest technology company to announce its plan to address today’s economic challenges. HP is trying to cope with a drop in its computer sales. In a statement, HP said its “Future Ready Transformation Plan” should result in gross annual savings of $1.4 billion or more over the next few years, with costs of around $1 billion including restructuring. Of the $1 billion, $600 million will come into fiscal year 2023 ending October 31, 2023. The remainder will be divided between the 2024 and 2025 financial years. Following the announcement, shares were up one percent in extended trading.

Amazon plans to spend $1 billion a year on theatrical releases. According to Bloomnerg, the company plans to produce 12 to 15 feature films at a time. A smaller number of films will be produced in 2023 as Amazon ramps up production. Following that announcement, Cinemark was up 11 percent, IMAX was up 7 percent and AMC was up 5 percent. Amazon has focused on its entertainment space and original content over the years with its Prime Video platform. The company spent $13 billion on content for its video and music streaming services last year, up from $11 billion in 2020.

That’s all the tech news that’s trending right now. Hashtag Trending is part of the ITWC Podcast Network. Add us to your Alexa Flash briefings or your daily Google Home briefing. Be sure to register with us Daily IT wire Newsletter to get all the important news straight to your inbox every day. Also check out the next episode of Hashtag Tendances, our weekly hashtag trending episode in French that comes out every Thursday morning. If you have a suggestion or tip, drop us a line in the comments or via email. Thanks for listening, I’m Ashee Pamma.


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