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Atos staves off bankruptcy, casts wider net for refinancing

CIO

In search of a quick fix for the debt problem, the company has spent much of the past two years preparing to spin off its legacy infrastructure management activities as a separate business, Tech Foundations, much as IBM spun out Kyndryl. In 2023, the company made a net loss of €3.4 In 2023, the company made a net loss of €3.4

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Airbus abandons possible acquisition of Atos data division

CIO

Airbus, a potential acquirer of the IT services company’s big data and security business, has walked away from the deal after completing its “due diligence” investigation. As a result, Atos has postponed — again — the release of its audited financial statement for 2023 while it evaluates its options. Another buyer?

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Atos deal to sell its legacy service business falls through

CIO

Exclusive talks with EP Equity Investment over the sale of the Tech Foundations business ended after the two parties failed to agree on deal terms and pricing. “We Meanwhile, Atos will continue to operate both halves of the company, Tech Foundations and Eviden, as separate entities with a coordinated go-to-market strategy, he said.

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Dell cuts jobs amid growing economic uncertainties

CIO

As of February 2, 2024, the employee count stood at approximately 120,000, declining from the 133,000 recorded in February 2023. This workforce adjustment is part of a wider wave of layoffs within the technology sector. In 2024 alone, 168 tech companies have collectively laid off 42,324 employees.

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Rivian beats on Q2 revenue, raises EV production guidance for 2023

TechCrunch

Rivian reported a net loss of $1.19 It was a strong quarter, and we remain focused on ramping production, driving cost efficiencies, developing future technologies, and enhancing the customer experience.” Rivian also lowered costs through layoffs in 2022 and 2023 that reduced payroll and other expenses.

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Nerdy, a tutoring marketplace startup, is going public via SPAC

TechCrunch

Nerdy will merge with TPG Pace Tech Opportunities (NYSE: PACE), a publicly traded SPAC since 2015. TechCrunch reviewed the Nerdy-SPAC investor presentation, which can be read here. Its 2020 estimates list an anticipated net loss of $23 million, which is more than it lost in 2019 but less than its 2018 deficit.

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CarMax drives business value with GPT-3.5

CIO

x for business value even before ChatGPT became a household name. That is why the omnichannel used-car retailer earned a coveted spot on the 2023 CIO 100 Award list: for its early, innovative use of a nascent AI technology that led to a spike in page views as well as higher SEO ranking and placement that drove substantial business growth.