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This week, we learned the following headline stories:
Intel to Cut 12,000 Jobs
Technology companies have had a rough start to 2016, with many of the big giants (i.e. Microsoft, VMWare and IBM) announcing layoffs. As the needs of businesses and consumers alike shift to mobile technologies and cloud-based subscription services, the older software and hardware giants are struggling to adapt and keep up.
What it means to you: Smaller, more nimble businesses can innovate and iterate much quicker than the lumbering giants, and this has quickly become the case in technology.
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Digital Advertising Jumps 20%
This week, IAB announced the results of a report that found that digital advertising grew a record-breaking 20 percent in 2015 to $49.5B. This growth largely came from the continued shift to mobile (grew 60 percent) and social media (grew 55 percent).
What it means to you: Digital is the way of the future, so it's vital that you engineer your marketing strategies to work cross-funtionally on multiple platforms. The advertising opportunities available on digital venues are only going to grow, so be sure to educate yourself early to stay in the game.
Volkswagen to Recall 500,000 Vehicles
This week, there were further developments in "Dieselgate," the massive Volkswagen scandal that revealed the auto manufacturer had used secret software to cheat on emissions tests. The Environmental Protection Agency ordered the German auto haus to 500,000 of models that contained the offending software.
What it means to you: Volkswagen is paying the price for their massive blunder, which will cost them upwards of $10B, and losing the trust of customers all over the world could potentially damage them far beyond that number. Stay authentic and true to the people that invest in your brand—cheating them will only hurt you in the end.