Jan 20 (Reuters) – Google’s parent company Alphabet Inc (GOOGL.O) is cutting around 12,000 jobs as it faces “a different economic reality”, it said in a memo, doubling down artificial intelligence (AI) and removing staff who support experimental projects. The job cuts affect 6% of its workforce and follow thousands of layoffs at tech giants … Read more
Jan 20 (Reuters) – The loan unit of crypto firm Genesis filed for bankruptcy protection in the United States on Thursday, owing its creditors at least $3.4 billion after being knocked down by a rout of the market with FTX exchange and lender BlockFi. Genesis Global Capital, a leading crypto lender, froze client redemptions on … Read more
DAVOS, Switzerland, Jan 18 (Reuters) – Microsoft Corp (MSFT.O) said on Wednesday it would cut 10,000 jobs and take a $1.2 billion charge from profits as its cloud computing customers reassess their expenses and that the company prepares for a possible recession. . The layoffs add to the tens of thousands announced in recent months … Read more
Microsoft CEO Satya Nadella speaks at the company’s Ignite Spotlight event in Seoul on November 15, 2022. Seong Joon Cho | Bloomberg | Getty Images Tech job cuts are piling up as the companies that led the 10-year bull market adjust to a new reality. Microsoft announced on Wednesday that it was laying off 10,000 … Read more
Jan 17 (Reuters) – Microsoft Corp (MSFT.O) plans to cut thousands of jobs and some positions are expected to be cut in the human resources and engineering divisions, media reports said on Tuesday. The expected layoffs would be the latest in the US tech sector, where companies like Amazon.com Inc (AMZN.O) and Meta Platforms Inc … Read more
DAVOS, Switzerland, Jan 16 (Reuters) – The prospect of a looming global recession cast a shadow over Davos on Monday as participants gathered for the opening of the World Economic Forum’s annual meeting weighed the likely cost to their economies and their businesses. Two-thirds of chief private and public sector economists surveyed by the WEF … Read more
Jan 14 (Reuters) – Twitter Inc has won a ruling allowing the social media company to force several dismissed workers pursuing their dismissals to pursue their claims through individual arbitration rather than a class action. U.S. District Judge James Donato ruled on Friday that five former Twitter employees suing a proposed class action lawsuit accusing … Read more
Massive layoffs and spending review for the Wall Street giant Cups in all major divisions expected, globally Asian wealth unit restructuring kicks off Wednesday layoffs NEW YORK/LONDON/HONG KONG, Jan 12 (Reuters) – Goldman Sachs (GS.N) began laying off staff on Wednesday as part of a sweeping cost-cutting campaign, with around a third of those affected … Read more
Jan 11 (Reuters) – Shares of Bed Bath & Beyond (BBBY.O) surged on Wednesday as individual investors crowded in, extending the stock’s rebound from the multi-decade lows hit last week and reigniting a rally in other meme actions. Among the top three companies listed on Fidelity’s retail platform, Bed Bath & Beyond jumped 69% during … Read more
Ryan Petersen, CEO of Flexport, participates in a panel discussion at the Milken Institute Global Conference in Beverly Hills, California, U.S., Wednesday, May 4, 2022. Bloomberg | Bloomberg | Getty Images Supply chain software startup Flexport is laying off 20% of its global workforce, or about 640 employees, according to a memo from co-CEOs Ryan … Read more
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