And as the economy ran into trouble, many firms slashed their online advertising budgets."It's been a really a disappointing quarter of earnings for many of the big tech companies," said technology analyst Paolo Pescatore of PP Foresight. "No-one's immune."
"As we've gone through this, given the current macro-economic environment , some teams are making adjustments, which in some cases means certain roles are no longer necessary. We don't take these decisions lightly, and we are working to support any employees who may be affected."Investors have also piled on the pressure to cut costs, accusing firms of being bloated and slow to respond to signs of slowdown.
Elon Musk is certainly of the view that there is room to cut costs at his latest investment, Twitter, which has struggled to either turn a profit or attract new users.
lol - stockholders. It's always about the stockholder - WHO LITERALLY DO NOTHING FOR THE COMPANY.
Recession