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Verizon To Cut About 15,000 Jobs

2 months ago
Verizon is planning to cut roughly 15,000 jobs, looking to reduce costs as it contends with increased competition for wireless service and home internet, according to WSJ, which cites people familiar with the matter. From the report: The cuts, the largest ever for the carrier, are set to take place in the next week, the people said. The majority of the reduction is expected to be made through layoffs. Verizon also plans to transition about 200 stores into franchised operations, which will shift employees off its payroll. Verizon, the largest U.S. telecommunications provider by subscriber base, faces a fierce battle for both wireless and home internet customers. It has lost crucial postpaid phone subscribers for three consecutive quarters. Last month, Verizon named its lead independent director Daniel Schulman as its new chief executive officer. Schulman, a former CEO of PayPal and Virgin Mobile USA, has said he would aggressively reduce the company's entire cost base and take steps to reverse the customer losses.

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AI pilots keep crashing, mostly because firms skip the prep, survey finds

2 months ago
Under a third of PoCs make it past testing, but those that do often boost productivity

It is the best of AI times; it is the worst of AI times, depending on whom you ask. Nearly a third of firms are seeing almost total failure of their AI proof-of-concept (PoC) projects, while 46 percent are successfully moving more than 10 percent of theirs into operational use.…

Dan Robinson

Reddit Cofounder Had a Bad Feeling About Giving Data To Sam Altman

2 months ago
Reddit cofounder Alexis Ohanian said he had serious doubts a decade ago about sharing the platform's data with Sam Altman. Ohanian recounted on the "Brew Markets" podcast that between 2015 and 2016, Altman asked Reddit to let him "aggressively scrape" the site's content. Altman had recently helped Reddit raise $50 million in a Series B round and was launching OpenAI as a nonprofit. Ohanian described Altman as "very smart" and "incredibly cunning" but questioned whether he was "the most philanthropically minded guy." The Reddit cofounder said he "felt in my bones" the company should refuse the request and debated internally about it against Steve Huffman. Ohanian said he "lost that debate." Reddit and OpenAI announced a formal licensing deal in 2024.

Read more of this story at Slashdot.

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