CNBC March 23, 2023
Key Points
– Some of the world’s largest internet companies may have strong balance sheets, but their employees haven’t been able to avoid layoffs.
– From Microsoft to SAP, tech companies around the world have laid off thousands of employees since the start of the year.
– Tech companies that have laid off people have cited a slowdown in growth and that they are hedging against economic uncertainties.
From the U.S. to Europe and Asia, global tech giants from Microsoft and Google, to Amazon, SAP and more have laid off thousands of employees since the start of the year.
That’s despite most of these companies being profitable.
“Headcount reduction is a result of over hiring during the pandemic and a...
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Topics: Technology