A new wave of layoffs hit Amazon employees on Wednesday as the company looks to cut costs amid declining retail sales growth. Read More...
Reuters
Big Tech braces for dismal profits, more job cuts
Each of America’s five largest tech companies, though, are expected to report a fall in profits for the October-December period, as they try to recalibrate in a high-interest environment. Facebook-owner Meta Platforms Inc and Amazon.com Inc are expected to report the biggest declines. Analysts have cut their total revenue projection for the five companies – Meta, Amazon, Apple Inc, Alphabet Inc and Microsoft Corp – by 5% to $561.4 billion as of January from October.
