Tech Firms Lead Job Cuts in Corporate America

[Epoch-Times-Bot]

Tech Firms Lead Job Cuts in Corporate America

Big Tech firms are leading a string of layoffs across corporate America as companies look to rein in costs to ride out the economic downturn.
Persisting inflation leading to interest rate hikes, weak consumer demand, and an economic slowdown in China have forced firms from Amazon to Walt Disney and banks to trim their workforce.
Here are some of the major job cuts announced in recent weeks:
Amazon.com Inc.
The e-commerce giant said company-wide layoffs would impact over 18,000 employees, raising the figure from 10,000 layoffs it announced months ago.
Meta Platforms Inc.
The Facebook-parent said it would cut 13 percent of its workforce, or more than 11,000 employees, in one of the biggest tech layoffs this year as it grapples with a weak advertising market and mounting costs....

Source: Tech Firms Lead Job Cuts in Corporate America

[xenzol]

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