Microsoft is struggling to retain its diverse workforce, with increasing numbers of women, Black, and Latine employees departing the company. According to Microsoft’s latest diversity and inclusion report, female employees accounted for 32.7% of all exits globally in the fiscal year ending June 30, 2024, up from 31% the previous year. In the US, Black and Latine employees also saw significant increases in departures, with Black employees making up 10% of exits (up from 8.7%) and Latinx employees comprising 9.8% of exits (up from 8%). Poaching and Business Shifts Cited
Hispanic Heritage Month, celebrated annually from September 15 to October 15, honors the history, culture, and contributions of Hispanic and Latine communities in the US. It began as a week-long event in 1968 under President Lyndon B. Johnson and was extended to a month by President Ronald Reagan in 1988. The dates are significant because they coincide with the independence anniversaries of several Latin American countries, including Costa Rica, El Salvador, Guatemala, Honduras, Nicaragua, Mexico, and Chile. In keeping with this year’s theme, “Inspiring Innovation and Empowering Communities,” here are
Meta, the tech giant formerly known as Facebook, is under scrutiny for using public Instagram posts to train its generative AI model without notifying users in Latin America, according to Rest of the World. The company’s decision has particularly impacted artists in the region, who rely heavily on social media to showcase their work but cannot opt out of this data usage. Lack of Notification and Opt-Out Options On June 2, many Latin American artists discovered that Meta had not informed them about its plans to use their public posts
Venture capital (VC) investments in Latin America have reached unprecedented levels, outpacing several emerging US tech hubs, according to Revelo. This shift is driven by a growing talent pool and an increasing demand for services catering to the middle class. Revelo’s analysis, using data from the Latin American Venture Capital Association (LAVCA) and the National Venture Capital Association (NVCA), highlights how Latin America is becoming a significant player in the global VC landscape. Growth In Latin American VC Investments The Latin American venture capital market hit its second-highest level on
New York-based fintech startup Comun is redefining the bank experience for Latine immigrant communities in the US and reimaging local banking for the digital world. Founded in 2021 by Andres Santos, CEO, and Abiel Gutierrez, CTO, both of whom experienced financial exclusion upon migrating to the US, Comun has secured $9 million in funding to date. Banking Disparities in the Latine Community The Latine population contributes a staggering $3.2 trillion to the US GDP. This makes it the world’s fifth-largest economy, more than the GDPs of India, the UK, and
Hispanic and Latine tech workers comprise a small percentage of the workforce, According to a 2021 Pew Research Center study, only 8% of tech workers are Hispanic or Latine despite making up 18.7% of the US population. The percentage is even smaller for women, with Hispanic or Latina women only holding 1% of tech roles. We recently rounded up communities and organizations for Latine tech professionals; here’s an updated list of available resources. Resources For Tech Professionals 1. Techqueria Techqueria, a nonprofit founded in 2015, serves tech’s most extensive global
This Hispanic Heritage Month we are spotlighting the Hispanic and Latine people shaping the tech world. What is Hispanic Heritage Month? National Hispanic Heritage Month is from September 15 to October 15, and it celebrates the histories, cultures and contributions of American citizens whose ancestors came from Spain, Mexico, the Caribbean and Central and South America. The celebration started in 1968 as Hispanic Heritage Week under President Lyndon Johnson and was extended to 30 days in 1988. It was enacted into law on August 17, 1988, on the approval of
