Amazon, Meta join ranks of tech companies slashing thousands of jobs - BNN Bloomberg

Tech companies are trimming staff and slowing hiring as they face higher interest rates and sluggish consumer spending in the U.S. and a strong dollar abroad.

“We are not immune to the realities of inflation and a slowing economy,” co-founders John Zimmer and Logan Green said in a memo. “We need 2023 to be a period where we can better execute without having to change plans in response to external events — and the tough reality is that today’s actions set us up to do that.”The Facebook parent is cutting 11,000 jobs, the first major round of layoffs in the social-media company’s history.

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