Apple Pause, Lyft Layoffs Herald New Phase of Tech Austerity (3)

Nov. 3, 2022, 10:57 PM UTC

Tech companies are once again tapping the brakes on hiring as they contend with sluggish consumer spending, higher interest rates and the impact of a strong dollar overseas.

Amazon.com Inc. said Thursday that it would pause adding new corporate workers, citing an “uncertain” economy and its hiring boom in recent years. Lyft Inc., the ride-hailing company, is going further: It will eliminate 13% of staff, or around 683 people.

Twitter Inc.’s cutbacks are under particular scrutiny as new owner Elon Musk shakes up the social-networking business and pares roughly half its jobs.

Tech companies made moves earlier ...





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