Google, Microsoft, Amazon and other tech companies have laid off more than 70,000 employees in the last year

in a memo to staff

that the cuts were necessary amid rising inflation, fears of a looming recession, higher interest rates, energy shocks, tighter investment budgets and sparser startup funding. Taken together, these factors signal "that 2022 represents the beginning of a different economic climate," he said. Stripe was valued at $95 billion last year, and reportedly lowered its internal valuation to $74 billion in July., which equals 10% of its global workforce.

In a memo to staff, CEO Tobi Lutke acknowledged he had misjudged how long the pandemic-driven e-commerce boom would last, and said the company is being hit by a broader pullback in online spending. Its stock price is down 78% in 2022.

From 2020 to 2021, for instance, Google alone hired 21k.

If you don’t see what’s coming, what you need to do. Please ask.

But how many did they hire?

And nobody gives a shit and nobody can do a god dam thing about it. Employers don’t care about employees, plan and simple. Never have, never will.

Haha

They are moving to AI tech run models of business, which are more profitable for those at the top. No pesky humans, or unions to consider/contend with, and the government will totally allow them to pass any costs for the changeover onto consumers. TheWealthyAlwaysWin America

ReplyGPT

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.

STOCK MARKET NEWS: Microsoft, Amazon layoffs, Party City bankruptcy, inflation easesAmazon and Microsoft step up layoffs, Davos organizers slam Elon Musk, mixed data on producer prices and retail sales. FOX Business is providing real-time updates on the markets, commodities and all the most active stocks on the move. CorporateGreed PriceGouging BigMoney
Source: FoxBusiness - 🏆 458. / 53 Read more »

STOCK MARKET NEWS: Dow drops over 600 points, Microsoft, Amazon layoffs, retail sales slideAmazon and Microsoft step up layoffs, Davos organizers slam Elon Musk, mixed data on producer prices and retail sales. FOX Business is providing real-time updates on the markets, commodities and all the most active stocks on the move. Not a great week so far... Let them all tank.... they should feel what they have done to the Citizens. Thats the Fed’s plan
Source: FoxBusiness - 🏆 458. / 53 Read more »

Amazon, Meta and Google buy more clean energy than any other companiesWhile companies across the board have been steadily increasing their acquisition of wind and solar power, the tech sector has dominated. Artificial intelligence will take over all jobs at the end . Stop buying their stocks Going to pop this in ‘What Did Amazon Do This Week?’
Source: CNBC - 🏆 12. / 72 Read more »