Tag: recession

Here you will find all the articles with the tag: recession.

IBM cuts 3,900 jobs despite promising annual results

IBM cuts 3,900 jobs despite promising annual results

In spite of promising annual results in 2022, IBM will cut 3,900 jobs over the next few months to reduce costs. IBM's employees aren't immune to the wave of layoffs flooding the top of the tech industry at this time. The organization told Bloomberg that 3,900 staffers will be fired in the first ... Read more

date1 year ago
Activist investor Elliott Management acquires stake in Salesforce

Activist investor Elliott Management acquires stake in Salesforce

Elliott Management acquired a significant stake in Salesforce, the Wall Street Journal reports. The activist investor may influence the company considerably. Elliott Management reportedly took a 3.3 percent stake, representing a multi-billion dollar investment. The exact figure was not disclosed... Read more

date1 year ago
‘Google’s parent company lays off 12,000 employees’

‘Google’s parent company lays off 12,000 employees’

A leaked memo suggests Alphabet will cut 12,000 jobs. The news follows shortly after the announcement of a layoff round at Microsoft. 10,000 employees will be fired in the coming months. The tech giant intends to cut costs. According to Reuters, Alphabet is taking similar measures. In a... Read more

date1 year ago
Microsoft to lay off 10,000 employees, CEO confirms

Microsoft to lay off 10,000 employees, CEO confirms

Ten thousand Microsoft staffers will lose their jobs in the coming months, CEO Satya Nadella confirmed in a written statement. Earlier today, we covered rumours of a layoff round at Microsoft. Insiders said the tech giant would disclose the plan today. Meanwhile, confirmation has arrived. CEO S... Read more

date1 year ago
Amazon cuts 18,000 jobs worldwide

Amazon cuts 18,000 jobs worldwide

Amazon plans to lay off 18,000 employees, citing macroeconomic circumstances as a key factor for the decision. In a blog, CEO Andy Jassy indicates that the company faces macroeconomic difficulty. Jassy explained Amazon recruited too many employees in recent years, causing a disbalance at presen... Read more

date1 year ago
‘9 in 10 developers are concerned about budget and staff cuts’

‘9 in 10 developers are concerned about budget and staff cuts’

Researchers from Appian suggest that nine in ten UK and EU developers are concerned about budget and staff cuts. The growth of the IT market is on the decline. Most feel the impact, from the boardroom to the office floor. Appian surveyed 1,500 developers and software engineers for a study on th... Read more

date1 year ago
Chipmaker GlobalFoundries warns employees of layoffs

Chipmaker GlobalFoundries warns employees of layoffs

The management of chipmaker GlobalFoundries warned employees of upcoming layoffs. Inflation and energy prices are on the rise. Demand for chips declines as a result. GlobalFoundries is preparing for an uncertain period by cutting staff. The plan was announced in an email to employees on Friday ... Read more

date1 year ago
‘Huawei CEO puts company in survival mode’

‘Huawei CEO puts company in survival mode’

Huawei's CEO reportedly sees tough economic times as a threat to the company. A focus on survival is said to be necessary. Chinese websites Yucai and 163 claim that Huawei CEO Ren Zhengfei warned employees of economic risks in an internal memo. Zhengfei reportedly referred to economic circumsta... Read more

date2 years ago
Microsoft books revenue growth while profits lag behind

Microsoft books revenue growth while profits lag behind

Microsoft's revenue grew by 18 percent in the fiscal year of 2022. Nevertheless, the profit increase of 19 percent pales in comparison to the 38 percent rise between 2020 and 2021. The tech giant recently presented the fourth and final quarterly figures for the fiscal year of 2022. Microsoft bo... Read more

date2 years ago
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