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Zoom To Sack 15 Percent Of Staff

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The company behind the Zoom video conferencing platform — which became a household name during the pandemic — announced Tuesday it is laying off about 15 percent of its staff.

Zoom Video Communications chief executive Eric Yuan is also taking a 98 percent cut in salary this year and forgoing his executive bonus, he said in a blog post about the job cuts.

He added that members of his executive leadership team are taking a 20 percent salary reduction and also forfeiting bonuses this year.

While people and businesses continue to rely on Zoom “as the world transitions to life post-pandemic,” the Silicon Valley-based firm is seeing customers cut back on spending, Yuan said in the post.

Zoom has made the “tough but necessary” decision to lay off about 1,300 people, or roughly 15 percent of its staff, according to Yuan.

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“Our trajectory was forever changed during the pandemic when the world faced one of its toughest challenges, and I am proud of the way we mobilized as a company to keep people connected,” Yuan said.

Zoom tripled its ranks of employees during the pandemic, as people used the platform for remote work, court hearings, social events and more while Covid-19 risks barred them from getting together in person, according to Yuan.

“We are seeing that people and businesses continue to rely on Zoom,” Yuan said.

But the uncertainty of the global economy, and its effect on our customers, means we need to take a hard look inward to reset ourselves so we can weather the economic environment, deliver for our customers and achieve Zoom’s long-term vision.”

Zoom will continue to invest in strategic areas, the chief executive noted.

Zoom joined a growing list of US tech firms slashing jobs as years of high spending has given way to parsimony due to harsh economic conditions around the world.

American computer firm Dell said Monday that it will lay off some five percent of its global workforce, or around 6,650 employees.

The cuts follow similar steps by tech giants Microsoft, Facebook owner Meta, Google parent Alphabet, Amazon and Twitter as the industry girds for economic downturn.

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They also come after a major hiring spree at the height of the coronavirus pandemic when companies scrambled to meet demand as people went online for work, school and entertainment.

According to the specialist site Layoffs.fyi, just over 95,000 tech employees have lost their jobs since the beginning of January worldwide.

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VIDEO: Meet Nigerian Pastor Who Predicted World Will End April 25

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An unidentified Nigerian pastor has stirred reactions on social media by following a prophetic revelation that the world would end on the 25th of April 2024.

In a video which has since gone viral, the pastor disclosed that God informed him of the end of the world during a prayer session.

The pastor emphasised that he clearly saw the date and that God mentioned it to him twice.

READ ALSO: UK Slams Fresh Sanctions On Iran After Israel Attack

He said, “By the 25th of April, the world is going to end. If you like take this serious, if you don’t like don’t take it serious.

“But this is real, rapture is coming, on the 25th of April 2024, I saw it very clear, do you understand? I saw the date very clear and the lord ministered to me. He mentioned it twice, it has happened twice.”

Watch video below:

Source: PUNCH

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Again, FG Talks Tough, Threatens To Revoke Lokoja-Benin Road Contract

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The Minister of Works, Engr. David Umahi, has again threatened to revoke the sections I-IV Lokoja-Benin, Obajana Junction Benin roads in Kogi and Edo States should the contractors handling the project fail to sign the reviewed contract.

Umahi issued the fresh threat during a meeting with the contractors in his office, in Abuja, yesterday.

The Miniater had in March issued a similar threat during a visit to the Edo State Governor, Godwin Obaseki. He had expressed displeasure over the slow pace of work earlier this year.

Representatives of the contractors messers Mothercat Ltd, CCECC Ltd, Dantat & Sawoe Ltd, CGC Ltd and RCC Ltd attended the latest meeting with the minister in his Abuja office, on Thursday.

The minister also directed staff of his Ministry to, within 7 days , carry out a comprehensive audit of the ongoing projects with a view to knowing the status of work done, the capacity of personnel and equipment being used by the contractors.

READ ALSO: Umahi Threatens To Revoke Road Contract In Edo

Umahi did not mince words when he expressed displeasure at what he described as the pranks being played by the contractors.

He noted that they were part of the process of re-scoping and reviewing the contract specifications but that they failed to sign the review contract documents after signing that they would do the job based on the new specification.

Umahi said, ”The project was initially N121 billion, but before the administration of President Ahmed Bola Tinubu, the project was already reviewed to about over N870 billion .

“When I came in as Minister, I saw that the project was over-bloated, and I refused to take the No Objection to FEC. I had to go through the road myself, and I realized that some sections of the road could not survive asphalt.

“So we started meetings that took us over five months with all the contractors, and in the meetings, we agreed to re-scope the project. So we re-scoped the project where we said okay, the new lanes should be done on concrete and the other ones done on asphalt.

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“So, we kept the contracts up and we all signed the documents and based on signing the documents, we took it to BPP and from BPP we went to FEC, and before we went to FEC, we demanded for them to approve that they can do the job. They all gave us letters of approval.”

He wondered why contractors were given jobs without having the required manpower and equipment to execute, and warned that henceforth, any contractor signing a contract must sign alongside the basic rate and timeline.

The minister furthersaid, ”The position of the government is that if you are not signing the contracts between today and tomorrow, you will forgo the jobs. You can go to court. We will not enter into any condition for further negotiation.

“This contract is over N2 billion per kilometer. You don’t have equipment to do the work. Let me even assure you that if you are signing the contract, you will sign it alongside the basic rates.

“You sign it alongside the timetable, and you deploy in three sections, or I will terminate the job. Enough of playing with the psyche of the people.”

He declared that the Ministry would not allow any contractor to hold the nation to ransom or to impose their conditions on the Ministry.

READ ALSO: Alleged Discrimination: FG Seals Abuja Chinese Supermarket

Umahi said, “You don’t want to work, leave the job. It’s not compulsory that you must be the one to do the job. You can not be on site, and the people are dying.

“The vehicles are falling down, and you’re playing politics with the lives of the people. And we fold our hands and leave you for what? You can’t be on site….So if you are not working, pack your things out of that site.”

In his remarks, the Director, Highways (SP) South, Engr. C.A Ogbuagu gave account of the techinical processes undertaken by the Ministry before Federal Executive Council approved the augmentation of the project,
which the contractors accepted, and letters of award were given to them.

He expressed suprise that the contractors refused to sign the new document.

He said, “After the FEC’s approval of the argumentation, the legal department was brought in so that this new contract will now be executed so that work will continue on site. So, for about two weeks now, the draft addendum has been with the contractors, and none of them has positively responded, except RCC.”

In its response, the representative of the CGC said, “for our side, and firstly for our section, and currently we are seriously working. And secondly, we have a sent the draft to the Head Office And there there is any issue, we have answered them and may be later tomorrow morning, we can get the approval from them so we can go ahead.”

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UK Slams Fresh Sanctions On Iran After Israel Attack

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The UK on Thursday joined the United States and Canada in announcing a fresh set of sanctions against Iran’s drone and missile industries after its recent attack on Israel.

Tehran launched its first direct military assault on Israeli territory in retaliation for an April 1 air strike — widely blamed on Israel — that killed seven members of the Islamic Revolutionary Guard Corps in Damascus.

Iran’s large-scale attack involved more than 300 drones and missiles, most of which were shot down by Israel and its allies including Washington and London, causing little damage.

The United States and Britain announced widespread sanctions on Iran last week, targeting individuals and companies involved in the Iranian drone industry.

READ ALSO: Police Storm Iranian Embassy In Paris After Man ‘In Suicide Vest’ Threatened To Blow Himself Up

The Foreign Commonwealth and Development Office said the latest sanctions would target two individuals and four companies closely involved in Iran’s network of drone production.

Trade sanctions against Iran would also be expanded by introducing new bans on the export of components used in its produce of drones and missiles, it added.

“The Iranian regime’s dangerous attack on Israel risked thousands of civilian casualties and wider escalation in the region,” Foreign Secretary David Cameron said in a statement.

Alongside our partners, we will continue to tighten the net on Iran’s ability to develop and export these deadly weapons.”

READ ALSO: Israeli Drone Shot Down Over Lebanon – IDF

The UK already has over 400 sanctions imposed on Iran, including designations against the  Islamic Revolutionary Guard Corps in its entirety and many of those responsible for the attack on Israel.

– ‘Facilitating and financing’ –

The US Treasury Department also targeted Iran’s military drone program on Thursday, sanctioning more than a dozen individuals, companies and ships it said played a key role in “facilitating and financing” clandestine sales of unmanned aerial vehicles (UAVs) to the country’s defence ministry.

Iran’s Ministry of Defence continues to destabilise the region and world with its support to Russia’s war in Ukraine, unprecedented attack on Israel, and proliferation of UAVs and other dangerous military hardware to terrorist proxies,” US Treasury undersecretary for terrorism and financial intelligence Brian Nelson said in a statement.

The United States, in close coordination with our British and Canadian partners, will continue to use all means available to combat those who would finance Iran’s destabilising activities,” he added.

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Thursday’s joint sanctions come a week after Washington targeted 16 people and two companies involved in Iran’s UAV programme, as well as components for the drones used in the attack against Israel.

The UK government separately targeted seven individuals and six companies for enabling Iran to continue its “destabilising regional activity, including its direct attack on Israel.”

Alongside its sanctions against Iran’s UAV program, the US also targeted five companies providing parts for Iran’s steel industry, and an automaker involved in providing “material support” to Iran’s Islamic Revolutionary Guard Corps.

The European Union imposed its own set of sanctions on Iran on Wednesday during a summit in Brussels.

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