Friday, September 30

Tag: USA

Experts Warn US Is Falling Behind China in Key Technologies
Science

Experts Warn US Is Falling Behind China in Key Technologies

At a gathering of current and former U.S. officials and private-sector executives Friday in Washington, concern was rampant that the United States has fallen behind China in the development of several key technologies, and that it faces an uncertain future in which other countries could challenge its historic dominance in the development of cutting-edge communications and computing technology. The gathering was convened by the Special Competitive Studies Project, an effort spearheaded by former Google CEO Eric Schmidt, the stated purpose of which is "to ensure that America is positioned and organized to win the techno-economic competition between now and 2030, the critical window for shaping the future." Among attendees, the prevailing sentiment was that the nation's ability to actually w...
US technology sector sees record job cuts in May amid rising inflation
Science

US technology sector sees record job cuts in May amid rising inflation

U.S. employers in the technology sector cut nearly nine times more jobs in May than in the first four months of the year as rising inflation and slowing demand force companies to cut corners. Though overall layoffs in the country reported by global outplacement firm Challenger, Gray & Christmas on Thursday fell 14.7% in May from April, thanks to strong demand in the labor market, the technology sector cut 4,044 jobs, up from the 459 between January and April. It is the highest monthly total since December 2020 when tech companies cut as many as 5,253 jobs. "Many technology startups that saw tremendous growth ...