General Motors (GM) announced on April 4 that about 5,000 salaried workers had accepted the company’s buyout offers, which the automaker says is enough to avoid layoffs at this time. The offers will save about $1 billion annually in costs, according to GM. The automaker said the “voluntary separation program” is part of efforts to…
Moody’s Chief Economist Mark Zandi Says U.S. Has a Fighting Shot at Avoiding Downturn
March 31, 2023
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Moody’s Analytics chief economist Mark Zandi said the United States still has a “fighting shot” at avoiding an economic downturn, in an evening town hall meeting on March 29. Zandi testified in the House Budget Committee hearing on the expanding federal debt earlier the same day. “I think we have a fighting shot to get…
Moody’s Chief Economist Mark Zandi Says US Has a Fighting Shot at Avoiding Downturn
March 31, 2023
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Business & MarketsCaliforniadebt ceilingeconomic recessioneconomylayoffsMark ZandiNorthern CaliforniaRegional & State NewsState NewsUS
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Moody’s Analytics chief economist Mark Zandi said the United States still has a “fighting shot” at avoiding an economic downturn, in an evening town hall meeting on March 29. Zandi testified in the House Budget Committee hearing on the expanding federal debt earlier the same day. “I think we have a fighting shot to get…
Roku to Cut 6 Percent of Workforce as Tech Layoffs Rise Over 60,000 So Far in 2023
Roku, the digital streaming device maker, announced another round of layoffs, as the number of job losses in the tech industry rises over 60,000 in 2023. The company said it would lay off another 200 workers, or 6 percent of its workforce, in a Securities and Exchange Commission (SEC) filing on March 30, a few months after cutting…
Electronic Arts to Lay Off 6 Percent of Workforce
California-based video game company Electronic Arts (EA) has announced that it will lay off approximately 6 percent of its workforce in the coming months as part of its restructuring efforts, which equates to nearly 800 people. The decision was made after a review of the company’s portfolio, with a focus on prioritizing projects that contribute…
Bob Iger Memo Outlines Sacking of 7,000 Disney Staff
Disney will begin to lay off nearly 7,000 team members as early as this week, Disney’s CEO Bob Iger said in an email to staff on Monday. Iger laid out his plan and reasons for laying off so many employees in an email memo obtained by IndieWire. The layoffs—done in three stages—will begin this week for some,…
Housing Market in Tech Hubs Cooling Faster Than Other Parts of US: Report
Housing markets in tech hubs and pandemic-migration hotspots are cooling faster than other parts of the United States amid a wave of layoffs in the technology sector and elevated mortgage rates, according to real estate broker Redfin Corp’s report on Monday. Redfin round out the top 10 metropolitan areas that cooled the fastest based on how…
Amazon to Axe Another 9,000 Jobs, Citing ‘Uncertain Economy’
Amazon on March 20 announced yet another round of layoffs, saying that it’s letting go of 9,000 employees or roughly 3 percent of its corporate workforce. In a blog post published on March 20, CEO Andy Jassy said the cuts will primarily affect those in Amazon’s cloud web services, the Twitch gaming division, advertising, and…
Amazon to Cut Another 9,000 Jobs, Citing ‘Uncertain Economy’
Amazon on March 20 announced another round of layoffs, saying that it’s letting go of 9,000 employees or roughly 3 percent of its corporate workforce. The cuts will primarily affect those in Amazon’s cloud web services unit, the Twitch gaming division, advertising, and the PXT Solutions unit, CEO Andy Jassy said in a blog post published…
Tech Layoffs Here to Stay; Workers Must Upgrade or Be Out of Date: Tech Experts
March 17, 2023
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Many tech workers still reel from the juggernaut of massive layoffs that began late last year. Historically, tech workers have experienced layoffs more than once in their career. In previous years, through the dotcom bubble bust in 2000 and the great recession in 2007, tech workers expected layoffs to mean 5 to 50 employees being…
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