Dell to cut 6,650 jobs, report says
Dell Technologies will join the ranks of technology companies slashing jobs as the computer maker will shed 6,650 positions, according to a published report on Monday. Citing a company spokesman after seeing a memo, Bloomberg reported the job cuts. Jeff Clarke, co-chief operating officer, told employees that the current conditions will “continue to erode with […]
Amazon cut 67,000 jobs in 2022, the first yearly decline in 20 years
Amazon.com Inc. had a pretty bad year in 2022, with the e-commerce and cloud giant recording its biggest loss ever, and with its stock suffering a yearly record loss. Its employees had a bad year, too: For the first time in 20 years, the company shrank its workforce. According to Amazon’s 2022 annual report, released […]
‘Wow,” Fed’s Daly says after killer jobs report, but it doesn’t alter Fed’s inflation-fighting plan
The president of the San Francisco Federal Reserve said the huge increase in new U.S. jobs in January was a “wow” report, but she stressed the central bank needs more information before it decides how much further to raise interest rates. “What I am seeing is a strong labor market,” Mary Daly said in an […]
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 […]
Meta stock spikes despite earnings miss, as Facebook hits 2 billion users for first time and sales guidance quells fears
Meta Platforms Inc. shares soared in after-hours trading Wednesday despite an earnings miss, as the Facebook parent company guided for potentially more revenue than Wall Street expected in the new year and promised more share repurchases amid cost cuts. Meta META, +2.79% said it hauled in $32.17 billion in fourth-quarter revenue, down from $33.67 billion […]
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 […]
More than 68,000 global tech-sector employees have lost jobs in 2023: layoff-data tracker
More than 68,000 global technology sector employees have been laid off in the first few weeks of 2023, according to data compiled by the website Layoffs.fyi. The website’s tally of global tech layoffs in 2023 has more than doubled since last week, when it recorded just over 25,000 layoffs. The data suggest 2023 is on […]
Curaleaf cutting staff as it exits three U.S. states
This story has been updated to provide correct figures for the number of states Curaleaf operates in; also the number of total employees at the company. Curaleaf said Thursday it has reduced its payroll by 10% as it exits California, Colorado and Oregon in the face of price compression and unchecked competition from the illicit […]
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
Fed rate cuts always lead to stock-market gains — but this one thing must happen too, veteran Wall Street strategist says
It’s way too early to proclaim a Goldilocks environment, even if major asset classes are at least pointing to a better chance of it. The S&P 500 SPX has gained 5% this year, and the tech-heavy Nasdaq Composite COMP is up 8%, even with a seemingly daily stream of job-cut announcements. Stay tuned Thursday to […]