Bloomberg Law
Free Newsletter Sign Up
Login
BROWSE
Bloomberg Law
Welcome
Login
Advanced Search Go
Free Newsletter Sign Up

Twitter, Meta Push Tech Job-Cut Pace Near Early Pandemic Levels

Nov. 8, 2022, 11:00 AM

Job cuts in the technology industry are accelerating, nearing levels seen in the early stages of the Covid-19 pandemic, as companies both large and small curtail ambitions and brace for tough times ahead.

In recent weeks, a spate of tech companies have said they will pause hiring or cut jobs outright in the face of sluggish consumer spending, spiraling inflation and a strong dollar undercutting sales overseas. Leaders in the industry, a major driver of the global economy for the last decade, sense that they’re in a higher-risk environment, making them less willing to spend to grow their businesses like ...