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Big Tech layoffs ‘are not a sign of an impending recession’: Goldman

Big Tech layoffs ‘are not a sign of an impending recession’: Goldman

Goldman Sachs is pushing back on the notion that headline-grabbing layoffs from big-cap tech companies are a sign of a looming U.S. recession. “Tech layoffs are not a sign of an impending recession,” Goldman Sachs chief economist Jan Hatzius wrote in a note to clients on Tuesday. As the year nears a close, the layoffs announcements have picked up in tech land amid a terrible year for stock prices and slowing growth. In the past two weeks alone, Meta and Amazon have unveiled combined job cuts of… Source link

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