Tag Archives: tech

Big Tech is bracing for a tough road ahead as HP Inc. said it will axe 10% of its staff, Dell warned that sales are sliding, and Google prepares to designate 10,000 employees as low-performing, a potential prelude to mass staff reductions. The reductions come as a potential recession and post-pandemic decline in sales have led many technology companies to reevaluate staffing needs. HP will cut 4,000 to 6,000 employees in the next five years, aiming to save $1.4 billion a year. “At this… Source link

(Photo via Smith Collection/Gado/Getty Images). Getty Images Key Takeaways Rumors are swirling that Alphabet may be the next big tech company to layoff workers, following the lead of Meta, Amazon and many others. It comes as Google faces revenue pressure from falling advertising revenue and an economic outlook which is likely to exacerbate the issue. Alphabet executives have made multiple comments about increasing efficiency and focus. For investors, it’s another example of the… Source link

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

The bloodletting in big tech continues after a year of slowing sales and profits along with de facto valuation resets at the hands of an aggressive Federal Reserve. Meta said Wednesday it will slash 13% of its workforce as it looks to redirect resources to Mark Zuckerberg’s metaverse project and appease angry shareholders. Meta stock popped 8% on the news, paring the year-to-date decline to 69%. Meta was the top trending ticker on the Yahoo Finance platform through early afternoon. Meanwhile, a… Source link

People walk outside the headquarters of Yandex company in Moscow, on September 14, 2015. File Photo / Reuters Moscow: Russian tech group Yandex said Thursday revenue continued to climb during the third quarter despite the country being under Western sanctions over its its invasion of Ukraine. The company’s revenues rose 46 percent compared to the July-September period last year to 113.2 billion rubles ($2.1bn at the current rate). Yandex — often dubbed “Russia’s Google” — employs around… Source link

VettaFi vice chairman Tom Lydon appeared on Yahoo!Finance to discuss tech’s slide and the state of the markets. “For the first time in 20 years, we’re seeing active managers actually outperform some of their counterparts that they benchmark against,” @Vetta_Fi Vice Chairman @TomLydon says. “That’s good for the ETF business.” pic.twitter.com/y2WFhvFLdV — Yahoo Finance (@YahooFinance) October 26, 2022 Tech’s Slide and Active’s Rise “Coming out of… Source link

Yahoo today (October 26th, 2022) announced key appointments to its team in APAC, to support the accelerated growth of its ad tech business in the region. Matt Farrington joins Yahoo as APAC head of partnerships & investment. Sandra Lin comes on board as the new APAC head of DSP strategy. Kenneth Koh joins as head of DSP SEA.  The latest appointments come amidst growing demand for Yahoo’s ad tech product solutions and services in APAC as brands strengthen their digital marketing strategies… Source link

With earnings season about to shift into high gear, VettaFi head of research Todd Rosenbluth appeared on Yahoo!Finance to discuss how big tech earnings could impact ETF investors. Rosenbluth noted that tech ETFs have been relatively strong in 2022 in terms of inflows. He said, “we’ve seen over 6 billion dollars of money go into technology ETFs.” He noted that defensive sectors are also seeing strength, with consumer staples, utilities, and healthcare also seeing… Source link

With earnings season about to shift into high gear, VettaFi head of research Todd Rosenbluth appeared on Yahoo!Finance to discuss how big tech earnings could impact ETF investors. Rosenbluth noted that tech ETFs have been relatively strong in 2022 in terms of inflows. He said, “we’ve seen over 6 billion dollars of money go into technology ETFs.” He noted that defensive sectors are also seeing strength, with consumer staples, utilities, and healthcare also seeing… Source link

When the US first banned sales of certain tech products to Chinese tech firm Huawei three years ago, it crippled a once-proud national champion and sent ripples across the US semiconductor industry. In the quarters following that export ban in May 2019, top American chipmakers reported a median revenue decline of 4% to 9%. The Biden administration’s latest tech controls threaten to accelerate those losses, throwing the global semiconductor sector into disarray. And Chinese companies… Source link