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KATE THOMPSON DAVY: From blood-letting to fresh blood: another view on tech job losses
The hits keep coming for big tech as company after company announces job cuts and dismal results that are not just a gut-punch for profits but also prompting some existential angst for the industry globally.
Bloomberg, citing consulting firm Challenger, Gray & Christmas, reports that US companies in “telecoms, electronics, hardware manufacturing and software development” shed 9,587 jobs in October, the highest monthly total since November 2020. In addition, it says “recent earnings reports” from the likes of Amazon, Meta and Microsoft “fell short of projections, sending shares plunging and shaving hundreds of billions of dollars from their market valuations”...
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