Large companies tech industry and Wall Street titans are leading a wave of layoffs in America as companies struggle to contain spending to weather the global economic downturn.
Fast interest rate increases And weak consumer demand forced companies like Amazon, Walt Disney, Meta Platforms – the parent company of Facebook and Instagram – and US banks to cut their workforce.
Tech companies laid off more than 150,000 workers in 2022 amid a sharp slowdown in demand due to the pandemic, according to the tracking website Layoffs.fyiand more layoffs are expected as growth slows in the world’s largest economies.
Source: Kathimerini
Lori Barajas is an accomplished journalist, known for her insightful and thought-provoking writing on economy. She currently works as a writer at 247 news reel. With a passion for understanding the economy, Lori’s writing delves deep into the financial issues that matter most, providing readers with a unique perspective on current events.