‘ChatGPT is today’s hand calculator,’ this CEO says
Will you be able to build the next blockbuster videogame at home using ChatGPT? Not so fast, says Take-Two Interactive Software Inc. TTWO, -3.40% Chief Executive Strauss Zelnick. But that doesn’t mean the technology lacks promise. Read: Take-Two stock slips as company plans cost cuts, outlook falls below Street view Zelnick said on his company’s […]
Pinterest reportedly lays off about 150 workers
Pinterest Inc. reportedly laid off about 150 workers Wednesday, becoming the latest tech company to cut jobs amid economic worries. Bloomberg News reported the cuts affect less than 5% of Pinterest’s workforce, and came across multiple teams. “We’re making organizational changes to further set us up to deliver against our company priorities and our long-term […]
Apple, Amazon, Facebook and Google face earnings test amid Big Tech layoffs
In the biggest week of the holiday-earnings season, Big Tech results will receive the spotlight amid thousands of layoffs that could only be the beginning.After tech stocks were decimated in 2022, investors will be looking for signs of a turnaround in holiday reports and potential forecasts for the year ahead from three of 2022’s top […]
Corporate Layoffs Spread Beyond High-Growth Tech Giants: WSJ
Dow, IBM and SAP say they will lay off thousands of workers as belt-tightening becomes the new business priority. Source link
Microsoft stock dives into the red after forecast misses, CFO warns about deceleration
Microsoft Corp.’s profit declined more than 12% in the holiday season, and executives said Tuesday that a revenue deceleration at the end of 2022 is expected to continue into the new year as the company lays off workers. Microsoft MSFT Chief Financial Officer Amy Hood said in a conference call Tuesday that “we are seeing […]
Google execs to get lower bonuses in cost-cutting move following layoffs
Google Chief Executive Sundar Pichai said top executives would take pay cuts following the largest round of layoffs in the company’s history. Speaking at a companywide meeting on Monday, Pichai said employees at the senior-vice president level and above would get lower bonuses as part of cost-cutting measures, according to people who heard the remarks. The comments came after […]
Spotify reportedly planning layoffs as soon as this week
After slowing its pace of hiring last year, Spotify Technology SA is planning layoffs as soon as this week, according to a new report, adding to the wave of jobs cuts sweeping across the tech industry. Citing people familiar with the plans, Bloomberg News reported late Sunday that the streaming music service faces imminent job […]
2023 ‘is the year AI crosses the chasm,’ but for one reason, John Chambers says
Venture capitalist John Chambers is an eternal optimist, but even he admits 2023 could be “tough” for tech. While this could sideswipe a couple of Big Tech companies, leading them to a road of losing market leadership by the end of the decade, it could present an opportunity for startups in artificial intelligence and cybersecurity […]
Why value stocks may not repeat their vast 2022 outperformance in 2023
Are so-called value stocks still living up to their name? Some aren’t so sure. After more than a decade of lackluster returns, the value factor beat the broader market and outperformed rival growth stocks in 2022 by the widest margin since 2000. Still, both broad categories suffered sizable declines during a bear market that sent […]
Salesforce layoffs at its home base in San Francisco number in the hundreds so far
Salesforce Inc., which last week said it would be slashing 10% of its workforce, or about 8,000 people, has disclosed a wave of layoffs at its San Francisco headquarters in a filing with the state of California. A total of 752 job cuts will become effective March 24, Salesforce CRM, -1.72% said in a letter […]