Connect with us

Business News

Hundreds of jobs have been slashed by Amazon in its cloud computing division

Published

on

BBC reports that Amazon, the technology behemoth, has declared job cuts affecting hundreds of workers in its cloud computing division.

Amazon Web Services (AWS) has seen significant growth, now constituting 14 percent of Amazon’s total revenue as per its recent financial statement.

The company has altered its approach with physical stores like Amazon Fresh, introduced in 2020. On Tuesday, it announced the removal of its self-checkout system, Just Walk Out, from all stores.

The job cuts predominantly affect roles in sales, marketing, global services, and the physical stores technology team, amounting to several hundred positions.

An AWS spokesperson stated to BBC, “These decisions are tough but necessary as we continue to invest, hire, and optimize resources to deliver innovation for our customers.”

Amazon assured that it will keep hiring and expanding, particularly in core business areas, offering thousands of job opportunities and internal transitions for affected employees.

While the majority of AWS roles are in Seattle, the cuts will impact operations globally. US-based employees will receive pay and benefits for at least 60 days, assistance in job placement, transitional health benefits, and severance pay.

As of last year, Amazon boasted over 1.5 million full-time and part-time employees, excluding contractors and temporary workers.

Amazon has been emphasizing artificial intelligence (AI) development via AWS, including recent investments in safety and research startup Anthropic.

Rivals like Microsoft, which has invested in ChatGPT, are also intensifying their AI endeavors.

In January, Amazon axed hundreds of jobs in subsidiaries Twitch, Prime Video, and MGM studios. Twitch alone witnessed over 500 layoffs, comprising a third of its workforce.

According to US career consultancy Challenger, Gray & Christmas, the tech sector saw a significant increase in job cuts in 2023, totaling 168,032, a 73 percent rise compared to 2022.

Continue Reading

Business News

BOC records whopping Rs. 107 b pre-tax profit in 2024

Published

on

By

Bank of Ceylon (BOC), being the No. 01 Bank in Sri Lanka and the country’s highest rated banking brand, achieved robust financial results in 2024, demonstrating both resilience and persistence. The Bank recorded significant growth in key financial metrics, including total assets, deposits, and profitability. This exceptional performance underscores BOC’s agility and adaptability in the face of volatile market conditions and numerous challenges.

The General Manager / Chief Executive Officer, Russel Fonseka emphasized, “Our robust financial results demonstrate our strength and stability in this challenging economic climate. Looking ahead, we are committed to expanding our services, pioneering digital banking solutions, and solidifying our leadership position in Sri Lanka’s banking sector.”

Continue Reading

Business News

Tech startup, fluencr, aims to accelerate Sri Lanka’s digital transformation with its influencer marketplace

Published

on

By

fluencr, a homegrown tech startup, is shaping the country’s digital economy by enhancing influencer and business collaboration. Recognized among the top 50 at the prestigious Dialog Innovation Challenge, fluencr is on a mission to streamline business and influencer collaborations, aligning with Sri Lanka’s broader digital transformation initiatives.

In an era where influencer marketing is a key driver of brand engagement, fluencr offers a data-driven platform that enables businesses to discover, connect, and collaborate with the right influencers. The platform simplifies campaign management from start to finish, providing seamless performance analytics and ensuring instant payments through an integration with Seylan Bank’s Mastercard payment solutions.

For influencers, fluencr enhances brand discoverability, making it easier to secure collaborations while automating insight sharing and campaign workflows. The added benefit of timely payments ensures creators can focus on what they do best—creating engaging content.

fluencr isn’t just another marketplace; it’s a potential local alternative to global platforms like Fiverr and Upwork. By offering an accessible and free-to-use platform, fluencr has the power to uplift Sri Lanka’s content landscape, creating new opportunities for businesses and creators alike.

Why Now? Why Fluencr

Booming Influencer Market: Since 2019, the global influencer industry has tripled in value, reaching $21.1 billion. Sri Lanka’s share currently stands at an estimated $17.2 million, showcasing immense growth potential.

End of Third-Party Cookies: With platforms like Meta and Google phasing out third-party cookies by 2025, businesses must rethink their digital marketing strategies. fluencr provides a viable alternative, leveraging influencer partnerships for direct audience engagement.

User-Generated Content (UGC) Dominates: Research shows that 93% of marketers believe UGC outperforms traditional ads, making influencer collaborations more crucial than ever.

Rising Influencer Trust: With 63% of Gen Z preferring influencer recommendations over conventional advertising, brands need to adapt to shifting consumer behaviors.

fluencr was not just engineered in theory—it was born out of real-world challenges. The founding team, comprising professionals with experience at top Sri Lankan companies such as Dialog, Cinnamon Hotels, and Daraz, understands the struggles businesses and creators face in the digital marketing landscape. Now, they’re on a mission to solve them.

Whether you’re a business ready to harness the power of influencer marketing or a creator looking to scale, fluencr invites you to be part of Sri Lanka’s digital future: https://fluencr.io

Continue Reading

Business News

SriLankan Airlines unveils ‘Yaana’ the AI-powered chatbot

Published

on

By

SriLankan Airlines has unveiled ‘Yaana,’ an AI-powered chatbot designed to enhance customer support and streamline passenger interactions.

Developed in collaboration with CodeGen International (Pvt) Ltd., Yaana utilizes advanced AI and Natural Language Processing (NLP) technologies to provide intelligent assistance for a wide range of inquiries.

Now live on SriLankan Airlines’ corporate website, the chatbot aims to deliver faster, more efficient, and personalized support to passengers worldwide.

Chamara Perera, Group Head of Information Technology at SriLankan Airlines, commented on this latest advancement in customer engagement technology stating, “Yaana features a generative AI virtual assistant powered by GPT-4 technology and is equipped with sophisticated retrieval capabilities to enhance customer interactions and efficiently address inquiries. The system also utilises a conversational AI framework and custom AI algorithms to deliver rapid, accurate, empathetic and contextually relevant responses. By cross-referencing multiple policy documents, real-time data sets, including flight schedules, Yaana ensures that passengers receive reliable, tailored information.”

Dimuthu Tennakoon, Head of Worldwide Sales and Distribution at SriLankan Airlines, expressed his enthusiasm about Yaana’s potential, stating, “Since going live, Yaana has handled close to 12,000 inquiries with remarkable efficiency, autonomously resolving 88% of them. Furthermore, with its scalability, we anticipate Yaana will manage five times the current volume. By providing 24/7 assistance, including real-time updates during disruptions, streamlined booking guidance and personalised support for complex queries, Yaana will significantly enhance customer service every step of the way.”

The chatbot will prove especially indispensable during unplanned flight disruptions, a common occurrence in the airline industry, by assisting passengers in swiftly finding alternative travel options.

Available globally, Yaana also has multilingual capabilities, making it accessible to SriLankan Airlines’ diverse, global customer base. 

For SriLankan Airlines, an airline committed to using technological advancements to elevate the travel experience for passengers, Yaana marks a significant milestone in its digital evolution.

With this launch, SriLankan Airlines reaffirms its commitment to being one of South Asia’s most innovative and customer-focused airlines. Experience Yaana firsthand by visiting www.srilankan.com 

Continue Reading
Advertisement

Trending