Revelations 18:23:’For the merchants were the great men of the earth; for by thy sorceries were all nations deceived.’

Important Takeaways:

• Silicon Valley layoffs go from bad to worse
• Amazon is cutting more than 18,000 jobs, nearly double the 10,000 that had previously been reported and marking the highest absolute number of layoffs of any tech company in the recent downturn.
• Cloud-computing company Salesforce said it was axing about 10% of its staff – a figure that easily amounts to thousands of workers
• Video-sharing outlet Vimeo said it was cutting 11% of its workforce.
• The following day, digital fashion platform Stitch Fix said it planned to cut 20% of its salaried staff, after having cut 15% of its salaried staff last year.
• According to Challenger, Gray & Christmas, tech layoffs “were up 649% in 2022”
• Heading into 2023, recession fears and economic uncertainties are still weighing heavily on consumers and policymakers’ minds, and interest rate hikes are expected to continue

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