Shares of Microsoft (NASDAQ: MSFT) were sliding today, despite an analyst raising his price target for the tech stock and news that the company may be poised to launch a new mobile gaming service. Investors may have ignored those two bits of news and instead exited the stock as part of a larger pullback on tech stocks today on news that Amazon is cutting more jobs. Microsoft's shares were down by 3.3% at 12:14 p.m. ET. Read More...
American City Business Journals
Amazon to lay off another 9,000 employees
Amazon.com Inc. (Nasdaq: AMZN) will eliminate about 9,000 more roles, affecting teams in its highly profitable cloud division, CEO Andy Jassy told employees Monday in a publicly posted message. The cuts, he said, are across the Amazon Web Services, Twitch, advertising and human resources teams. “Some may ask why we didn’t announce these role reductions with the ones we announced a couple months ago,” Jassy said.
