Tag Archives: cuts

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

Germany is one step closer to having to ration its gas usage as supply from Russia starts to dry up, and the country’s top economic affairs official is warning that it could lead to an even larger economic spillover effect. As of Thursday, Germany has entered the second alert level of its emergency gas plan, according to Robert Habeck, Germany’s minister for economic affairs and climate action. At this level, “security of supply is currently ensured, but the situation is tense,”… Source link

Elon Musk has publicly stated his belief that the US is heading toward a recession.Yasin Ozturk/Getty Images Elon Musk, Tesla’s CEO, said earlier this month that the company would cut 10% of staff. Job cuts appear to have started, with Tesla staffers saying on LinkedIn that they’ve been laid off. The Tesla staffers posting on LinkedIn come from various departments across the company. Tesla has begun to trim its workforce in earnest after CEO Elon Musk announced earlier this month that he planned… Source link

Women at Oracle Corp. suing over alleged pay disparities took a big step backward, while more than 15,000 female workers at Google crossed the finish line. Under a judge’s tentative ruling Friday, the Oracle women are poised to lose the class-action status they earlier won that gave them powerful leverage in a five-year court fight with their employer. Alphabet Inc.’s Google, meanwhile, agreed to pay $118 million to resolve claims filed under California’s Equal Pay Act that the company… Source link

Goldman Sachs is kicking a streaming dog when it’s down. Goldman analyst Eric Sheridan slashed his rating on Netflix (NFLX) shares to Sell from Neutral on Friday, sending the stock off as much as 5% in pre-market trading. Sheridan cut his price target on Netflix to $186 from $265. “We have concerns around the impact of a consumer recession as well as heightened levels of competition on demand trends (both in the form of gross adds and churn), margin expansion, and levels of content spend and… Source link

Tesla CEO Elon Musk at the company’s Cyber Rodeo event in Austin, Texas.SUZANNE CORDEIRO / AFP Elon Musk tweeted that the “total headcount would increase” at Tesla and salaried staff would stay “fairly flat.” Musk’s comments came after the Tesla CEO sent an email to staff saying he would cut 10% of salaried jobs. Tesla employed nearly 100,000 staff at the end of 2021. After sending an email about job cuts for salaried staff, Tesla CEO Elon Musk seemed to retract his statements in a tweet reply… Source link