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.

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

The Week Ahead: Earnings from Loblaw, Lowes; CPI data due - BNN BloombergA look at what investors will be watching in the upcoming week.
Source: BNNBloomberg - 🏆 83. / 50 Read more »

Sobeys data breach serves as wake-up call for industry: Expert - BNN BloombergA recent data breach on Sobeys has revealed a larger issue in Canada's agri-food sector, an expert said.
Source: BNNBloomberg - 🏆 83. / 50 Read more »

Morgan Stanley sees rough ride for U.S. stocks in 2023 - BNN Bloomberg​U.S. stocks will end 2023 almost unchanged from their current level -- but will have a bumpy ride to get there, according to Morgan Stanley's Michael Wilson.
Source: BNNBloomberg - 🏆 83. / 50 Read more »