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Airtel Wins Sole Bid For 3.5GHz Spectrum Auction

The Nigerian Communications Commission (NCC) on Wednesday said Airtel Networks Limited (Airtel) has emerged as the sole bidder of the 3.5GHz Spectrum.

This was revealed in a statement by the spokesperson of the commission Reuben Muoka Wednesday evening.

The statement said the NCC ‘hereby announces that by the close of business on Monday, December 5, 2022, only two companies expressed interest in the auction of the 3.5GHz Spectrum band namely: i. Airtel Networks Limited (Airtel) and ii. Standard Network & Connections Limited (Standard Network).

“However, only Airtel paid the Intention to Bid Deposit (IBD) as stipulated in the Information Memorandum (IM) whereas Standard Network sent an email appeal for the deadline to be extended by twelve (12) working days which was not acceptable in view of the auction timetable.

“Having met all the provisions in the IM, Airtel has, therefore, emerged as the sole Bidder.

“Consequently, there shall be no further bidding and the Commission will proceed to the Assignment Stage in line with the published Information Memorandum guiding the licensing process.”

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US Tech Giant, IBM To Sack 3900 Workers

IBM, a US multinational technology company, has become the latest tech giant to slash thousands of jobs.

The data giants announced on Wednesday that 3,900 job positions would become void, or 1.5% of its global workforce.

The company explained that this layoff was not due to poor employee performance in 2022 or a fear for the new year, saying they were related to the previously announced sale of two business units.

According to a spokesperson, these job cuts will cost IBM about $300 million this quarter.

While the layoff trend has persisted, IBM has explained that they are not downsizing in response to the gloomy global economic outlook.

IBM CEO, Arvind Krishna, expressed utmost confidence in the upcoming year in a call with the CNN on Wednesday.

The units affected by this development are; Kyndryl, an IT infrastructure services business that was officially separated from IBM in November, and IBM’s healthcare analytics business, which an investment firm is in the process of acquiring.

(Culled from Technext)

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Citing Surge In ‘Operating Expenses’, Spotify Announces Plans To Layoff Over 6% Of Staff

Online mega music streaming platform, Spotify has announced its plans to cut 600 jobs due to possible recession.

Disclosing this in a statement on Monday, Daniel Ek, chief executive officer (CEO), Spotify, said the cut represents 6 percent of its general workforce

He said Dawn Ostroff, the company’s chief content and advertising business officer, will depart as part of a broader reorganisation.

According to Ek, the decision to reduce the number of employees was “difficult, but necessary.

Further giving reasons for the job cut, the CEO said Spotify’s operating expenses (OPEX) outpaced its revenue growth by two-fold.

“That would have been unsustainable long-term in any climate, but with a challenging macro environment, it would be even more difficult to close the gap,” he said.

“I hoped to sustain the strong tailwinds from the pandemic and believed that our broad global business and lower risk to the impact of a slowdown in ads would insulate us.

“In hindsight, I was too ambitious in investing ahead of our revenue growth. And for this reason, today, we are reducing our employee base by about 6 percent across the company. I take full accountability for the moves that got us here today.

“My focus now is on ensuring that every employee is treated fairly as they depart.”

The company’s move to retrench workers comes at a time when tech companies are facing a demand downturn.

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Google To Lay Off 6% Of Staff

Alphabet Inc (GOOGL.O), Google’s parent firm, has announced the elimination of approximately 12,000 jobs, or 6% of its staff, in the latest round of layoffs to rock the technology industry.

Sundar Pichai, CEO of Alphabet stated in a staff note seen by Reuters that the company had rapidly increased employees in previous years “for a different economic reality than the one we confront now.”

“I take full responsibility for the decisions that led us here,” he said.

The layoffs come just days after rival Microsoft Corp (MSFT.O) announced 10,000 layoffs.

The job reductions at Alphabet touch teams across the organization, including recruiting, some corporate operations, and some engineering and product teams.

The cutbacks are global in scope and have a direct impact on US employees.

According to the message, Alphabet has already emailed concerned employees, but the procedure would take longer in other countries due to local employment rules and norms.

The announcement comes at a time of economic instability as well as technological promise, with Google and Microsoft investing in generative artificial intelligence, a booming area of software.

“I am confident about the huge opportunity in front of us thanks to the strength of our mission, the value of our products and services, and our early investments in AI,” Pichai said in the note.

(Reuters)

 

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