Apple, Amazon, etc. Musk’s hiring freeze and layoffs are a choice! The decline of US technology companies begins
The cold winter of American tech companies is coming, and it’s more tragic than expected.
Apple has now halted hiring for many positions other than research and development, a move that further escalates a plan to reduce its budget next year.
Amazon.com, the world’s largest online retailer, has announced that it has decided to suspend new hires due to the deterioration in the macroeconomic outlook. Earlier last month, the company announced a hiring freeze in its retail business.
Beth Galetti, Amazon’s senior vice president, said on the company’s official website that due to the high uncertainty of the macro economy and the rapid expansion of staff in previous years, the company decided to stop adding new recruitment positions.
Qualcomm, the parent company of Facebook Meta, etc. have made the same decision. After its latest earnings report, Qualcomm announced that it had frozen hiring and would take more cost-cutting measures if necessary.
In addition, Musk has fired 50% of Twitter’s staff (more than 3,000 people), and companies such as Intel, Microsoft, and Google have also joined the layoffs, and American technology companies have gone into trouble overnight.
In response, Musk tweeted: “Regarding Twitter layoffs, unfortunately, when the company loses more than $4 million a day, there is no choice. Everyone who leaves gets 3 months of Redundancy, which is 50% above what is required by law.”
In fact, at the beginning of this year, many US technology companies took steps to control costs. But the tech giants now seem to think they need to take more drastic measures to cut spending. According to Bloomberg, layoff announcements in the United States in October increased by as much as 48% year over year, and more reductions are “on the way.”
The Wall Street Journal believes the hiring freeze, layoffs and cost cuts underscore that the tech industry may have been overextended as the pandemic brought prosperity.
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