Revelations 18:23:’For the merchants were the great men of the earth; for by thy sorceries were all nations deceived.’
Important Takeaways:
- More than 25,000 tech workers have been laid off in 2023
- According to the data tracking website, more than 101 tech companies around the world have laid off 25,436 employees so far in 2023. Most of the layoffs have taken place in the United States, accounting for 22,400 employees fired.
- The number of workers being laid off from tech companies is a trend that is continuing since 2022, when 154,336 workers were fired from over 1,000 tech companies around the world, according to the data.
- The companies with the highest number of layoffs between November 2022 and January 2023 include Meta, Amazon, and Salesforce, according to the data.
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Revelations 18:23:’For the merchants were the great men of the earth; for by thy sorceries were all nations deceived.’
Important Takeaways:
- Tech stocks headed for ‘bloodbath’ in 2023, more ‘job threats’ expected
- Amid wave of industry layoffs, mega cap tech like Amazon, Microsoft, Apple, and Alphabet extend losses into New Year
- In an interview with FOX Business on Friday, Eric Schiffer, CEO of the private equity firm, The Patriarch Organization, said: “Because tech is so oversold, there might be potential exits for a limited short-term bear rally, but there is a danger facing shareholders.”
- “Shareholders should brace themselves for a deeper brutal tech bloodbath driven by the Fed and its ‘Terminator’ like mission to raise rates and wipe out inflation,” he warned. “Many tech companies will enact job carnage in the first quarter, with Salesforce and Amazon just the start.”
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Revelations 18:23:’For the merchants were the great men of the earth; for by thy sorceries were all nations deceived.’
Important Takeaways:
- Tech industry has been laying off workers at fastest pace since the pandemic – with more than 150,000 jobs being cut in 2022 as companies like Meta and Amazon rein in costs
- Tech-driven companies are embarking on a layoff spree the likes of which not seen since the pandemic, a new report has revealed – laying off more than 150,000 workers within the course of a year.
- The worst offenders , the website discerned, were once-untouchable tech stalwarts Facebook parent Meta and Amazon, which both suffered heavy loses
- According to the report, the two hardest hit sections of the industry were in consumer and retail, which combined for nearly a third of all tech layoffs last year, with roughly 40,000
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