Tech-News
Benefits of Google Docs over Microsoft Word
Nowadays, writers and editors are facing the dilemma to choose between Google Docs and Microsoft Word, the two popular word processors. Can Google Docs offer better functionality and tools for writing? Let’s take a look at the advantages of Google Docs over MS Word.
What is Google Docs?
The free word processing program Google Docs is completely compatible with Microsoft Word and is part of Google's online office suite, G Suite. Users can collaborate with coworkers in real-time while creating, viewing, and editing documents online using any device, anywhere.
MS Word vs Google Docs
For decades, Microsoft Word was the best word processor for writers worldwide. Since its advent as the first-ever word-processing tool in the 1980s, generations of writers have grown up with it. It’s followed them from school, to university, and even right into the newsroom as well as other workplaces.
Read More: Top 10 Google Translate Alternatives
But with the advancement of technology, more collaborative and freely available online tools have emerged on the market. Some new word processors offer up greater efficiency, flexibility, collaborative features, and benefits that Microsoft has simply yet to provide.
For instance, Google Docs is getting huge popularity day by day. G Suite (including Google Docs) has more than two billion active monthly subscribers. This number is increasing at a great pace.
Google Docs can support the writer, editor, or proofreader collaboration on the same material at a time. It mounts over the old time-consuming practice of "back-and-forth" emailing revisions done in the case of MS Word documents. Additional tools for article authoring are available through a variety of Google Chrome extensions, which will help you further optimize your editorial workflow.
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Let's examine some of the other significant advantages Google Docs can offer to a writer, proofreader, or editor's daily tasks.
What are the Advantages of Google Docs over MS Word?
1. Microsoft Word Compatibility
With the help of the Chrome extension, you can quickly open and edit Microsoft Word documents right in Google Docs. Additionally, you may download your Google doc into a Word document (.docx) and vice versa without worrying about formatting changes.
2. Works Through Chrome Extensions
Google Chrome extensions that you download from the Chrome Web Store can also give Google Docs new functionality. By doing so, you'll be able to customize the user experience and give your document new features and functionality.
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3. Ease of collaboration
Teams may easily access and update the same document simultaneously with Google Docs, eliminating any doubt as to which file has the most recent version. Even without a Google account, collaborators can see and modify shared Google documents.
Because of its interactive features, you may select precisely who can make changes to your work and add or delete collaborators by using the Collaborate tab. Adding a comment with "+" their email address will send them a notification, or you can interact with people from inside any document.
from beginning to end a Google Doc is continuously and automatically stored during the entire process of writing and editing. Edits can be undone and viewed in time-sensitive order, comments can be accepted or refused, and all of these features are available in Google Docs.
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4. Accessible from Various Devices
You don't have to worry about emailing your work to yourself and finding it later using Google Docs because everything is kept in the cloud. You can access your document at any time from any device by logging into your Google account.
This increases the degree of flexibility in your style of work as well as your professional life. While on the go, you can write and edit. Examine a section on your phone while riding the train or bus, then complete it when you reach to your office computer. Additionally, the fact that files are not kept on your computer saves RAM.
5. Automated Backup
You never have to worry about files disappearing again because all changes are automatically synced across devices and saved as you write or edit. In order to review previous edits to your document and who made them, you may also view its "revision history."
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6. Diverse Useful Features.
Google Docs is packed with effective tools for producing articles. For instance, voice typing (accessible via Tools > Voice typing) is a straightforward formatting feature for formatting copied and pasted text fast.
It also assists the writer or editor in the selection of fonts available for import from Google Fonts, and bookmarks for less scrolling (accessible via Insert > Bookmark). These are just a few of the popular tools that Google Docs includes to support your best work.
7. Free of Cost
Google Docs is a cost-free Word Processor, in contrast to other word processing programs like Microsoft Word. To use G Suite, all you need to do is create a Google account by generating a @gmail email address.
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How to use Google Documents
-You would need to have a Google account to use Google Docs.
-Depending on your device, there are a few ways to access Google Docs after signing in. The app may be needed to be downloaded from Google Play or the App Store.
-Open Google Chrome if you already have an account and are using a computer. The Google Apps icon may be seen in the top right corner.
- Select Google Documents from the selection menu that appears when you click the Google Apps icon.
- Click on the blank page to start a new document and start writing your content!
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Google Docs Benefits At a Glance
- A free tool.
- Google Cloud Storage makes the doc accessible from anywhere thanks to.
- Collaborates in real-time.
- The system can track document changes automatically, edit document history, and go back to any prior document version.
- Auto-saving.
- Work offline mode.
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- Offers strong document editing options and tools.
- Besides writing, it allows voice-typing
- Enriched with diverse font varieties.
- Tagging in the comment enables users to monitor particular changes.
- Visibility is restricted to those with the proper access.
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Musk's latest Twitter cuts: Outsourced content moderators
Twitter’s new owner Elon Musk is further gutting the teams that battle misinformation on the social media platform as outsourced moderators learned over the weekend they were out of a job.
Twitter and other big social media firms have relied heavily on contractors to track hate and enforce rules against harmful content.
But many of those content watchdogs have now headed out the door, first when Twitter fired much of its full-time workforce by email on Nov. 4 and now as it moves to eliminate an untold number of contract jobs.
Melissa Ingle, who worked at Twitter as a contractor for more than a year, was one of a number of contractors who said they were terminated Saturday. She said she’s concerned that there’s going to be an increase in abuse on Twitter with the number of workers leaving.
Read more: Twitter Blue signups unavailable after raft of fake accounts
“I love the platform and I really enjoyed working at the company and trying to make it better. And I’m just really fearful of what’s going to slip through the cracks,” she said Sunday.
Ingle, a data scientist, said she worked on the data and monitoring arm of Twitter’s civic integrity team. Her job involved writing algorithms to find political misinformation on the platform in countries such as the U.S., Brazil, Japan, Argentina and elsewhere.
Ingle said she was “pretty sure I was done for” when she couldn't access her work email Saturday. The notification from the contracting company she’d been hired by came two hours later.
“I’ll just be putting my resumes out there and talking to people," she said. “I have two children. And I’m worried about being able to give them a nice Christmas, you know, and just mundane things like that, that are important. I just think it’s particularly heartless to do this at this time.”
Content-moderation expert Sarah Roberts, an associate professor at the University of California, Los Angeles who worked as a staff researcher at Twitter earlier this year, said she believes at least 3,000 contract workers were fired Saturday night.
Twitter hasn't said how many contract workers it cut. The company hasn't responded to media requests for information since Musk took over.
At Twitter's San Francisco headquarters and other offices, contract workers wore green badges while full-time workers wore blue badges. Contractors did a number of jobs to help keep Twitter running, including engineering and marketing, Roberts said. But it was the huge force of contracted moderators that was “mission critical” to the platform, said Roberts.
Cutting them will have a “tangible impact on the experience of the platform,” she said.
Read more: Musk says Twitter blue tick being revamped
Musk promised to loosen speech restrictions when he took over Twitter. But in the early days after Musk bought Twitter for $44 billion in late October and dismissed its board of directors and top executives, the billionaire Tesla CEO sought to assure civil rights groups and advertisers that the platform could continue tamping down hate and hate-fueled violence.
That message was reiterated by Twitter's then-head of content moderation, Yoel Roth, who tweeted that the Nov. 4 layoffs only affected “15% of our Trust & Safety organization (as opposed to approximately 50% cuts company-wide), with our front-line moderation staff experiencing the least impact."
Roth has since resigned from the company, joining an exodus of high-level leaders who were tasked with privacy protection, cybersecurity and complying with regulations.
MineHarmony enters stage of large-scale commercial use with 5G+AI
Huawei recently announced the successful integration of 5G+AI in its special operating system for mines; now this integrated operating system (OS) can facilitate large-scale commercial use.
MineHarmony OS is a joint innovation by Huawei and China Energy Investment Corporation. The system has been deployed on 3,300 sets of equipment in 13 mines and one coal washery.
In particular, the system has been deployed throughout the entire Wulanmulun (also known as Ulan Moran) Mine in Inner Mongolia, where significant progress has been made in connectivity, interface, and data access.
Read: Specialised knowledge-sharing centre: Huawei Bangladesh Academy launched in Dhaka
"The operating system covers a multitude of innovative scenarios, including smart control of equipment, the auto patrol of fixed sites, and online upgrade of equipment, the time for which has been shortened from one day to just four minutes," Huawei said in a media statement.
On the way to digitalisation and smart mining transformation, the first challenge for any mine is establishing the interconnectivity and interoperability of equipment and inaccessibility of data. The key to this is to find the most suitable network technologies.
"MineHarmony not only provides unified protocols for different equipment but also simplifies operations with unattended inspections. Also, 5G+AI video stitching technologies have enabled remote and precise control of mining machines, which in turn allows people working in offices to remotely control underground operations, thereby improving their work environment as well as mining safety," Huawei said.
Read: Huawei launches all-band 5G solution series
"It can ensure 24/7 intelligent monitoring, in addition to cutting the number of underground inspection personnel by 20 percent."
Underground coal mines are fitted with all kinds of devices and equipment running on different protocols, and finding a way to connect them all is a major challenge. So, the Huawei Mine Team and China Energy teamed up with over 30 partners to develop MineHarmony, "the first Internet of Things operating system in the mining sector, in just three months."
Top 10 Google Translate Alternatives
Google Translate is an online based free translation service developed and launched by the giant search engine Google in April 2006. Google's Translator service is capable of translating various kinds of texts like words, phrases, etc. Until November 2022, Google Translator supports about 133 languages including Bangla. There are diverse opinions about whether or not to use Google Translate. Let’s take a look at 10 popular translation platforms other than Google Translate.
Best 10 Alternatives to Google Translate
Microsoft Translator
Launched in 2007, Microsoft Translator thrives on iOS and Android. It can translate free text and website texts online. Text can be translated directly through the Bing Translator site while webpage texts can be translated using the Bilingual Viewer tools.
Currently, Microsoft Translator supports about 110 languages including Bangla. Not to mention, it is one of the best alternatives to Google Translator.
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The app consists mostly of a few distinct functionalities. If you need to translate a sentence, you may input or copy-paste the text into the text translator, which will recognize your language automatically. If necessary, there are options to have the software read this information aloud.
Bing Microsoft Translator
Bing Translator is Microsft’s consumer-based translator service. Previously it was called Windows Live translator. Microsoft's Bing Translator is a superior alternative to Google Translate when it comes to online translation services.
It supports more than 70 different languages including Bangla. This translator allows up to 5000 characters of input at a time.
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Either type in what you wish to translate or use the microphone to speak it into the Bing app and have it automatically converted. You may search using the translation while listening to it in either a male or female voice, and you can do this on Bing.
Yandex Translate
Yandex Translate is a fantastic option if you're seeking a translation that most closely resembles Google Translate's behavior.
Until March 2021, Yandex translator can support translation services for about 98 languages including Bangla. It is a good competitor of Google Translate which supports 109 languages.
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The user interface of Yandex Translate is quite similar to that of Google Translate, so getting started with it should be simple. You can input or simply copy-paste texts in the blank field, then choose the desired language from the drop-down menu.
DeepL
Starting its journey in August 2017, DeepL, an automatic translation company has gained prominence in recent years.
DeepL originated as a project launched by a German start-up but has now become perhaps the most accurate and trustworthy translation service accessible today.
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DeepL only supports about 29 languages which can increase in the coming days. However, this translator offers a remarkable degree of accuracy for translation works of its supported languages. In contrast to the conventional ways, an AI and deep-learning-based approach to language translation are crucial here.
Reverso
Next on this list is Reverso, one of Google Translate's longest-running rivals. Reverso is a comprehensive language translation suite that includes a dictionary and grammar checker, but this article emphasizes its quick translation service.
As you would expect, Reverso performs similarly to Google Translate. You choose your desired language pairings and then enter or copy the text for translation.
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Currently, Reverso Translator supports about 18 languages.
Translate Dict
An internet-based translator called Translate Dict can recognize and translate about 52 different languages automatically.
It allows the user to insert a word, phrase, or block of text. Then, this platform will automatically recognize the source language. After that, the users have to choose the output language from the drop-down menu and hit the "Translate" button. You can also download, copy, or even hear the translation spoken aloud.
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iTranslate
The iTranslate app, which Sonico Mobile created, allows you to translate text and webpages, search up terms with meanings, and even the verb conjugations for certain phrases, in over one hundred different languages.
iTranslate is compatible with a number of different operating systems, including Windows, iOS, macOS, Android, and Google Play. It has control that is based on gestures, and it has the capacity to translate Chinese letters into English that are intelligible, making translation simpler.
You may translate anything by just typing in the text or speaking into the voice-to-voice function of this simple piece of software.
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Linguee
Linguee is a web-based application that was released in 2009 that allows you to translate single words or phrases rather than whole paragraphs. It also supports more than 25 different dialects.
It works whether your internet connection is too slow or you don't have internet access. Unlike the other online-based language translator, you may use it offline,
Linguee presents a wide selection of multilingual lines taken from many forms of online media. You will get an understanding of how a single word or term may be applied in a multitude of contexts if you approach it in this manner.
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Significant European legal practices use this program since it has core skills in the languages of French, German, and Dutch.
Baidu Translate
With Google's services blocked in the country, Baidu has become the go-to option for internet users in China. Similar to Google Translate, Baidu Translate's foundation is on neural networks, which allow for very natural translations.
In addition, you may use your smartphone's voice commands to do searches on Baidu, since the search engine has an integrated speech-based translation tool. Currently, Baidu Translate supports 16 different languages.
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Babylon Translator
It is said that Babylon is one of the translation and dictionary software utilized most often throughout the globe. It has a collection of over 1,700 dictionaries and glossaries written in a range of different languages. This translator has been working in the sector for over 19 years and has shown again and again that they can reliably generate accurate results whether employing dictionaries or thesauri.
Conclusion
Although Google Translator is one of the most used online-based translation services in the world, this does not necessarily mean that it is the best accurate or feature-rich translator available. So far, we have discussed the 10 best Translator services alternative to Google Translate. Among these translators, Microsoft Translator, Bing Microsoft Translator, and Yandex Translator can support the Bangla language.
Those who are looking for alternatives to Google Translate or simply want to keep their distance from the Google environment can check out the list. Besides these, there are many more Online and Offline based Translators available nowadays.
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Samsung's 10 innovations at the cutting edge of smartphone technologies
Global smartphone brand Samsung has shaped the smartphone industry with the help of innovations in screen, camera, and AI technology.
Here are the top 10 innovations of Samsung:
AMOLED display
The AMOLED display has created the opportunity for everyone to enjoy large-screen displays on smartphones. Samsung was the first to popularize AMOLED displays.
Analogue touch on digital devices
In 2011, the brand introduced the innovative technology pen called Pen for the first time with the Samsung Galaxy Note. So, those who wanted to have the taste of analogue, even on digital devices, did not need to carry around a paper notebook and pen.
Knox
Users store a lot of our personal, professional, and other important data on their smartphones. So, the device they use should be reassuring and sensitive even in terms of security. Keeping this in mind, Samsung came up with its official security solution for smartphones called Samsung Knox, which can ward off untoward data leakage or virus attacks.
Protection from water, dust
In the past, any smartphone, no matter how expensive, was almost certain to be damaged once it was dropped in water due to carelessness. In 2017, Samsung was the first brand to use the highest level of waterproof and dustproof technology, IP68, in its Galaxy S7 device.
Samsung Pay
In 2015, Samsung introduced Samsung Pay on its smartphones to facilitate instant transactions for modern users. It is one such feature of the brand, through which users' all cash and card-related requirements can be met with just one device.
First dual-pixel sensor
Samsung brought the world's first dual-pixel sensor on the smartphone. With this innovation, Samsung has made life easier for photography lovers by providing the benefits of DSLR cameras in smartphones.
One UI
To ensure a unique experience for users, Samsung developed its own One UI in 2018. Compared to other user interfaces available in the market, their UI is "simpler, more comfortable, more secure, and more user-friendly."
Foldable smartphone
In 2019, Samsung ushered in the foldable smartphone era for the first time in the world with the launch of Galaxy Z Fold. Built with the latest technology, this smartphone is powered by all modern features, such as Multi-Active Window, to ensure the user's comfort.
AI-powered eraser to remove unwanted parts of photos
Samsung first introduced this innovative technology in 2021, which uses artificial intelligence (AI) to remove unwanted objects or parts in any image. Also, the use of voice in operating the device is also a unique example of the use of AI in smartphones.
Read more: Samsung tops ‘World’s Best Employers 2022’
For a sustainable future
In addition to the use of innovative technology in smartphones, Samsung is working to build a sustainable future for the world. Since its inception, the brand has emphasised recycling various smartphone components. Also, the South Korean brand is also working relentlessly to reduce the use of plastic and paper in devices.
Read more: Samsung Galaxy Watch5 available in Bangladesh stores
Twitter Blue signups unavailable after raft of fake accounts
Twitter’s relaunched premium service — which grants blue-check “verification” labels to anyone willing to pay $8 a month — was unavailable Friday after the social media platform was flooded by a wave of imposter accounts approved by Twitter.
Before billionaire Elon Musk took control of the social media platform two weeks ago the blue check was granted to celebrities, journalists and verified by the platform — precisely to prevent impersonation. Now, anyone can get one as long as they have a phone, a credit card and $8 a month.
After an imposter account registered under the revamped Twitter Blue system tweeted that insulin was free, pharmaceutical giant Eli Lilly & Co. had to post an apology. Nintendo, Lockheed Martin, Musk’s own Tesla and SpaceX were also impersonated as well as the accounts of various professional sports figures.
Read more: Elon Musk says will ban impersonators on Twitter
For advertisers who have put their business in Twitter on hold, the fake accounts could be the last straw as Musk’s rocky run atop the platform — laying off half the workforce and triggering high-profile departures — raises questions about its survivability.
There are now two categories of “blue checks,” and they look identical. One includes the accounts verified before Musk took helm. It notes that “This account is verified because it’s notable in government, news, entertainment, or another designated category.” The other notes that the account subscribes to Twitter Blue.
An email sent to Twitter’s press address went unanswered. The company’s communications department was gutted in the layoffs.
On Thursday, Musk tweeted that “too many corrupt legacy Blue ‘verification’ checkmarks exist, so no choice but to remove legacy Blue in coming months.”
Twitter Blue was not available on the platform’s online version, which said signup was only possible on the iPhone version. But the iPhone version did not offer Twitter Blue as an option
Twitter also once again began adding gray “official” labels to some prominent accounts. It had rolled out the labels earlier this week, only to kill them a few hours later.
They returned Thursday night, at least for some accounts — including Twitter’s own, as well as big companies like Amazon, Nike and Coca-Cola, before many vanished again.
Celebrities also did not appear to be getting the “official” label.
Read more: Twitter's 'official' gray checks back again for some accounts
Twitter's 'official' gray checks back again for some accounts
Twitter is once again adding gray “official” labels to some prominent accounts. The company, in its second chaotic week after billionaire Elon Musk took over, had rolled out the labels earlier this week, only to kill them a few hours later.
But on Thursday night they were back again, at least for some accounts — including Twitter’s own, as well as big companies like Amazon, Nike and Coca-Cola. Some media companies, such as The New York Times and The New Yorker also had the labels as of 9 p.m. Pacific time, while others, like The Wall Street Journal and The Los Angeles Times, did not.
Read: Elon Musk says will ban impersonators on Twitter
Celebrities, some of whom have been impersonated this week since Musk began overhauling Twitter’s “blue check” verification system, also did not appear to be getting the “official” label.
Twitter began offering a subscription service this week that for $8 a month gets anyone who wants — without actual verification — the blue check mark that previously was given to prominent accounts to prevent impersonation.
Read: Twitter to add gray “official” label to some high-profile accountsNow, there are two categories of “blue checks,” and the check marks look identical. One, which includes the accounts that were actually verified before Musk took helm, now note that “This account is verified because it’s notable in government, news, entertainment, or another designated category.” The other notes that the account subscribes to Twitter Blue.
Earlier Thursday, Musk tweeted that “too many corrupt legacy Blue ‘verification’ checkmarks exist, so no choice but to remove legacy Blue in coming months.”
A2I observes Era of Digital Centres
Access to Information (A2I) under Cabinet and ICT divisions in cooperation with UNDP observed an era of providing services to citizens through digital centres on Friday.
A programme was organised marking the era anniversary where State Minister for ICT Zunaid Ahmed Palak was present in the capital, as the chief guest.
ICT division’s Senior Secretary NM Ziaul Alam and Local Government division’s Additional Secretary Dr Muhammad Sher Ali were present as special guests at the function with A2I Project’s Director Dr Dewan Muhammad Humayun Kabir in the chair.
Read more: Digital Bangladesh: World’s 7th largest data centre eyes foreign currency
State Minister Palak said entrepreneurs of the country’s digital centres will be made smart entrepreneurs to turn Bangladesh into a smarter one from digital by 2041.
“For that online and offline trainings for entrepreneurs of digital centres across the country will be arranged,” he said, adding that one each digital centre will be set up in 87, 000 villages in the country.
To convey digital services to people’s door-steps, one each digital centre will be set up within the distance of every two kilometers instead of now five kilometers, he said.
The state minister also said special training and internship on skill development will be arranged for women entrepreneurs to convey unique services through the digital centres.
Read more: Digital centres to transform villages into cities: LGRD Minister
will also be taken to turn every digital centre into a rural economic hub through a participatory environment among men and women, he said.Along with the central function, several programmes were also organised marking the era anniversary in every district, upazila and union across the country with the campaign ‘Smart Bangladesh 2041: Smart services for all’.
Specialised knowledge-sharing centre: Huawei Bangladesh Academy launched in Dhaka
Huawei has launched a specialised knowledge-sharing centre, Huawei Bangladesh Academy, in Dhaka.
This 7,000 square feet facility is equipped with advanced technological equipment for knowledge sharing.
The worldwide business case scenarios of the latest ICT innovations, engineering courses, solutions, and more – what Huawei has got with its significant investment in research and development for more than 30 years will be showcased here to the government technical officers, telco operators, academicians, CSE/EEE students, and overall ecosystem partners.
Posts and Telecommunications Minister Mustafa Jabbar inaugurated the centre through an event organised at Bay's Galleria in Gulshan Thursday.
Read: 'China's Tianjin Port now smarter, more efficient, thanks to Huawei'
Jabbar said: "The establishment of Huawei Bangladesh Academy has attested to the fact that Bangladesh has been qualified to become the talent hub. On the other hand, Huawei has significant numbers of patents with its huge investment in research and development and this company has been making commendable efforts in developing the ICT industry of Bangladesh by contributing to the development of our telecommunication sector by equipping Bangladesh with their latest innovations."
“The demographic dividend in Bangladesh has been a great example to the world while China can share its expertise in the technical field with the country. Huawei is one of the best tech companies in China and it is leading the ICT industry of the world with its significant investment in research and development," Chinese Ambassador to Bangladesh Li Jiming said at the event.
Read: Huawei launches all-band 5G solution series
"I am happy to see Huawei working here in Bangladesh, for Bangladesh for more than 23 years, and facilitating this country with its acquired knowledge. This Huawei Bangladesh Academy is an important step for the ecosystem players of Bangladesh."
Pan Junfeng, CEO of Huawei Technologies Bangladesh, said: "We believe our knowledge and expertise can be helpful for the growth of Bangladesh in association with the help of the ecosystem partners. Our latest initiative is the Huawei Bangladesh Academy can be a hub for knowledge and experience sharing and bringing global cases into a discussion in this country."
Amidst weakened revenue, Facebook owner Meta laying off 11,000 people
Facebook parent Meta is laying off 11,000 people, about 13% of its workforce, as it contends with faltering revenue and broader tech industry woes, CEO Mark Zuckerberg said in a letter to employees Wednesday.
The job cuts come just a week after widespread layoffs at Twitter under its new owner, billionaire Elon Musk. There have been numerous job cuts at other tech companies that hired rapidly during the pandemic.
Zuckerberg as well said that he had made the decision to hire aggressively, anticipating rapid growth even after the pandemic ended.
“Unfortunately, this did not play out the way I expected,” Zuckerberg said in a prepared statement. “Not only has online commerce returned to prior trends, but the macroeconomic downturn, increased competition, and ads signal loss have caused our revenue to be much lower than I’d expected. I got this wrong, and I take responsibility for that.”
Read: Competition with TikTok: Facebook parent Meta reports revenue down
Meta, like other social media companies, enjoyed a financial boost during the pandemic lockdown era because more people stayed home and scrolled on their phones and computers. But as the lockdowns ended and people started going outside again, revenue growth began to falter.
An economic slowdown and a grim outlook for online advertising — by far Meta’s biggest revenue source — have contributed to Meta’s woes. This summer, Meta posted its first quarterly revenue decline in history, followed by another, bigger decline in the fall.
Some of the pain is company-specific, while some is tied to broader economic and technological forces.
Last week, Twitter laid off about half of its 7,500 employees, part of a chaotic overhaul as Musk took the helm. He tweeted that there was no choice but to cut the jobs “when the company is losing over $4M/day,” though did not provide details about the losses.
Meta has worried investors by pouring over $10 billion a year into the “metaverse” as it shifts its focus away from social media. Zuckerberg predicts the metaverse, an immersive digital universe, will eventually replace smartphones as the primary way people use technology.
Meta and its advertisers are bracing for a potential recession. There’s also the challenge of Apple’s privacy tools, which make it more difficult for social media platforms like Facebook, Instagram and Snap to track people without their consent and target ads to them.
Read: Facebook parent settles suit in Cambridge Analytica scandal
Competition from TikTok is also an a growing threat as younger people flock to the video sharing app over Instagram, which Meta also owns.
“We’ve cut costs across our business, including scaling back budgets, reducing perks, and shrinking our real estate footprint,” Zuckerberg said. ”We’re restructuring teams to increase our efficiency. But these measures alone won’t bring our expenses in line with our revenue growth, so I’ve also made the hard decision to let people go.”
Zuckerberg told employees Wednesday that they will receive an email letting them know if they are among those being let go. Access to most company systems will be cut off for people losing their jobs, he said, due to the sensitive nature of that information.
“We’re keeping email addresses active throughout the day so everyone can say farewell,” Zuckerberg said.
Read: 'Meta must pay': Facebook algorithms fuelled anti-Rohingya atrocities, says Amnesty
Former employees will receive 16 weeks of base pay, plus two additional weeks for every year with the company, Zuckerberg said. Health insurance for those employees and their families will continue for six months.
Shares of Meta Platforms Inc. jumped 4% before the opening bell Wednesday.