Tag Archives: cuts

Layoffs have slammed Big Tech, as some of the sector’s biggest names, from Amazon (AMZN) to Meta (META) to Stripe, have cut thousands of employees. After at least a decade of expansion, tech companies have been rattled by inflation along with a slowdown in advertiser spending. The ad spending crunch has hit social media companies like Meta and Twitter hard, of course. Even Google parent Alphabet (GOOG, GOOGL) was slammed in its latest earnings cycle, as YouTube missed sales expectations by a… Source link

Despite fresh price cuts in the region, Tesla sales in China tapered off in October. The China Passenger Car Association (CPCA) reported Tesla delivered 71,704 China-made Model 3 and Model Y vehicles in October, which was a 14% drop from September. Tesla’s September sales of 83,135 were an all-time high for Tesla in China, after the automaker upgraded its Shanghai Gigafactory this summer in order to boost production to over 750K vehicles a year. Despite the drop in Tesla deliveries, total… Source link

Beyond Meat is letting go of an executive who allegedly bit someone’s nose outside of a football game last month as part of a 19% reduction in the plant-based meat company’s global workforce that also includes the embattled company’s COO. Beyond Meat stock were down more than 7% in pre-market trading as of 7:12 AM ET. The company stated that the last day of Chief Operating Officer (COO) Doug Ramsey would be Friday. Ramsey had been on suspension since September 20 after the alleged incident,… Source link

The news: Dialogue between Alphabet CEO Sundar Pichai and Google employees became tense during a company-wide all-hands meeting this week. As Pichai elaborated on the company’s “simplicity sprint” initiative, he also fielded tense employee questions about the company’s travel and entertainment budget cuts, potential layoffs, and calls for more productivity, per CNBC. One employee accused Google of “nickel and diming” its workforce despite “record profits and huge cash… Source link

Dissatisfied Google employees have put top executives on the hot seat a few times this year.  Most recently, they interrogated CEO Sundar Pichai at an all-hands meeting this week about the company’s spending cuts amid a challenging economic climate, CNBC first reported.  At the meeting, employees submitted questions via an internal Google tool, and fellow workers then up-voted popular questions for executives to answer. When asked about why the company is limiting certain… Source link

Alphabet CEO Sundar Pichai gestures during a session at the World Economic Forum (WEF) annual meeting in Davos, on January 22, 2020. Fabrice COFFRINI | AFP | Getty Images As Google tries to navigate an unfamiliar environment of slowing growth, cost cutting and employee dissent over cultural changes, CEO Sundar Pichai is finding himself on the defensive. At a companywide all-hands meeting this week, Pichai was faced with tough questions from employees related to cuts to travel and entertainment… Source link

(Reuters) -Goldman Sachs has cut its year-end 2022 target for the benchmark S&P 500 index by about 16% to 3,600 points, as the U.S. Federal Reserve shows little signs of stepping back from its aggressive rate-hike stance. Analysts at Goldman Sachs wrote in a note late Thursday that the expected path of interest rates by the central bank is now higher than its previous estimate. Their previous target was 4,300 points. The benchmark index last closed at 3,758 points. “Based on our client… Source link

Alphabet CEO Sundar Pichai gestures during a session at the World Economic Forum (WEF) annual meeting in Davos, on January 22, 2020. Fabrice COFFRINI | AFP | Getty Images Google and Alphabet CEO Sundar Pichai said he wants to make the company 20% more efficient and that could include headcount cuts as it reckons with a slew of economic challenges as well as years of rapid hiring. Speaking at Code Conference in Los Angeles, Pichai gave more details about how he’s thinking of making the company… Source link

By Chavi Mehta (Reuters) -Palantir Technologies Inc lowered its annual revenue forecast to below market estimates after the data analytics software company reported a surprise quarterly loss on Monday, sending its shares down 15%. The company had to temper its revenue forecast as the timing of some government contracts remained uncertain, Chief Executive Alexander Karp said, calling the uncertainty “frustrating.” The large size of the government awards and the long-drawn procurement procedure… Source link

The 49ers and Jimmy Garoppolo still have a good working relationship. How far San Francisco is willing to go to help their former starting QB has its limits though. NFL Media’s Ian Rapoport on Sunday reported in a hit for NFL Network that with no clear trade partner developing, the 49ers are willing to keep Garoppolo on their roster all the way until August 30 when rosters are cut from 80 to 53. If they keep Garoppolo beyond that date his $24.1 million base salary becomes… Source link