Hashtag Trends Nov 24 – iPhone Element Protest. Hearing about Ticketmasters monopoly. HP layoff

Protests erupt at iPhone factories in China, the US Senate holds hearings to discuss a lack of competition in the ticketing industry, and HP plans to lay off most of its employees.

Welcome to hashtag trending. It’s Thursday, November 24th, and I’m your host Athy Pamma.

Video footage of hundreds of Foxconn employees marching in protest, clashing with police and facing people in hazmat suits has gone viral. Protests erupted after employees who traveled long distances for work complained that the company had changed their wage terms. Macramers, some videos captured workers complaining about the meals they were served, while others protested that bonuses were not paid as promised. The factory is Foxconn’s largest “iPhone” factory with about 200,000 employees. Foxconn, which is responsible for assembling about 70% of the iPhones Apple sells, has struggled to keep employees on site due to COVID lockdowns. Apple did not immediately respond to a request for comment. AP News Said.

The U.S. Senate Antitrust Committee will hold a hearing to discuss the lack of competition in the ticket industry after the chaos on Ticketmaster’s website during Taylor Swift’s ticket sales, said panel chair Amy. Senator Klobuchar said, according to euro newsIn a statement, Ticketmaster denied anti-competitive practices and said it remained under a consent decree with the Justice Department after the 2010 merger, adding that there was no evidence of systematic violations. However, Klobuchar said the high fees and site disruptions show that Ticketmaster’s dominant position in the market shows that the company is not facing pressure to improve. Swift’s first tour in five years, the Eras Tour, has been blamed for pre-sale issues due to unprecedented demand and an effort to keep out bots run by ticket scalpers.

Computer maker HP has revealed plans to cut 4,000 to 6,000 jobs over the next three years. according to CNBC, HP is the latest technology company to announce plans to weather the current economic challenges. HP is trying to cope with declining computer sales. In a statement, HP said its “Future Ready Transformation Plan” will save more than $1.4 billion in gross annual run rate over the next few years at a cost of about $1 billion, including restructuring. Of the $1 billion, $600 million he will be paid in his 2023 fiscal year ending October 31, 2023. The rest he will split between fiscal years 2024 and 2025. After the announcement, the stock rose 1% in long-term trading.

Amazon plans to spend $1 billion annually on theatrical movie releases. Bloomnerg said the company aims to produce 12 to 15 films for cinemas. A handful of films are expected to be made in 2023 as Amazon ramps up production. Following this announcement, Cinemark increased by 11%, IMAX increased by 7%, and AMC increased by 5%. Amazon has long focused on its entertainment section and original content with its Prime Video platform. The company spent $13 billion on content for its video and music streaming service last year, up from $11 billion in 2020.

That’s all the tech news trending right now. Hashtag Trending is part of the ITWC Podcast network. Add us to your Alexa Flash Briefing or Google Home Daily Briefing.Be sure to sign up Daily IT Wire Receive our newsletter to receive all the important news directly in your inbox every day. Also, check out the next episode of Hashtag Tendances, our weekly Hashtag Trending episode in French, which airs every Thursday morning. If you have any suggestions or tips, let us know in the comments or email us. Thanks for listening, I’m Asee Pamma.