Neowin News Feed for: Recession

Lyft announces another round of layoffs, cutting 1,200 jobs

Paul Hill — Sat, 22 Apr 2023 01:02:01 +0000

Lyft is preparing to lay off more than 1,000 employees in a mission to cut costs and become profitable. This represents a 30% cut in staff numbers. Employees will hear more next Thursday. Read more...

Microsoft's Satya Nadella confirms the elimination of 10,000 jobs

Paul Hill — Wed, 18 Jan 2023 18:52:37 +0000

Microsoft CEO Satya Nadella has confirmed that the company is laying off a massive 10,000 employees starting today. The company will be offering support to those affected by the job cuts. Read more...

Amazon set to commence the firing of 18,000 employees from today

Paul Hill — Wed, 18 Jan 2023 11:46:01 +0000

Amazon is set to commence its huge layoff today which will affect 18,000 employees in America, Europe, and possibly elsewhere. The layoffs were announced earlier this month by CEO Andy Jassy. Read more...

Around 79% of recently sacked tech employees have found new jobs

Paul Hill — Tue, 27 Dec 2022 21:40:01 +0000

New data from ZipRecruiter has found that 79% of tech workers that were laid off have found new employment within six months. Of those, 74% remained in the tech sector while others moved. Read more...

Short-term semiconductor revenue estimates have worsened, says Gartner

Paul Hill — Tue, 29 Nov 2022 01:48:02 +0000

Gartner has downgraded its semiconductor revenue growth estimate for next year. The analyst has earlier predicted higher growth, but now revenue will fall by 3.6% in the coming year. Read more...

Twitter CEO Elon Musk warns company is at risk of bankruptcy

Paul Hill — Fri, 11 Nov 2022 03:32:01 +0000

Twitter could face bankruptcy soon, depending on whether it can start to make money and based on how long the downturn lasts. As a first step, Elon Musk has been pushing for an $8 subscription model. Read more...

Salesforce let go of hundreds of employees on Monday

Paul Hill — Wed, 09 Nov 2022 05:46:01 +0000

Salesforce decided to make less than 1,000 employees redundant earlier this week after it saw a decline in custom from small and medium-sized businesses, predominantly in North America and Europe. Read more...

Mark Zuckerberg says Meta will begin laying people off on Wednesday morning

Paul Hill — Tue, 08 Nov 2022 23:38:27 +0000

Mark Zuckerberg has told executives in a meeting on Tuesday that layoffs will begin on Wednesday morning. Thousands of jobs are expected to go. Four months of salary will be paid as severance. Read more...

Amazon decides to freeze corporate hires for several months due to the economy

Paul Hill — Thu, 03 Nov 2022 20:28:02 +0000

Amazon has said it'll be pausing incremental hiring to its corporate workforce for the next few months due to the state of the economy. Teams at Amazon will have to be more productive, too. Read more...

Pichai tells Google employees to “pull together” as travel and swag budgets get slashed

Paul Hill — Fri, 23 Sep 2022 16:36:02 +0000

Sundar Pichai and other Google execs have been answering employees' questions at an internal meeting. Various expenses are being targeted for cuts as the firm tries to weather the economic storm. Read more...

Calm cuts 20% of staff, following its COVID-19 boom

Paul Hill — Fri, 12 Aug 2022 18:10:02 +0000

Calm is the latest technology company to announce that it's laying off some of its employees. The firm decided to cut 20% of jobs after it saw a 30% decline in app downloads over the last year. Read more...

Google not looking at lay-offs yet but tells employees to pull their finger out

Paul Hill — Mon, 01 Aug 2022 02:06:51 +0000

Google has launched a Simplicity Sprint where it will attempt to boost productivity. The bad economy means that sales have dampened, and now it needs to be more productive with its resources. Read more...

Mark Zuckerberg wants Meta to do more with less as revenues drop

Paul Hill — Thu, 28 Jul 2022 04:12:01 +0000

Meta has reported its first-ever quarterly revenue drop. As a result, CEO Mark Zuckerberg told investors that he would be looking for ways that the company can do more with less resources. Read more...

Tesla CEO Elon Musk is looking to axe 10% of jobs at the car firm due to the economy

Paul Hill — Fri, 03 Jun 2022 17:16:01 +0000

Elon Musk has e-mailed employees to say the firm is pausing hiring and that it will have to let go of around 10,000 workers. It comes as inflation causes people to reduce their spending on luxuries. Read more...

Microsoft's future: part one

Tue, 15 Dec 2009 14:44:44 +0000

A new hope The year 2009 has been an important one for Microsoft. Redemption is in reach again, after taking hits from increasingly hostile publicity, against its mishandled operating system Windows Vista; several corporate snafus... Read more...

Ballmer predicts weak growth, unfazed by Google

Mon, 05 Oct 2009 22:28:48 +0000

Microsoft CEO Steve Ballmer has had a short conversation filmed with the BBC's business editor, Robert Peston - regarding how Ballmer perceives Microsoft will deal with its competitors in each of the company's key markets,... Read more...

Well, at least Apple is doing well...

Wed, 03 Jun 2009 20:16:44 +0000

It is of little refutation that economists would describe the world's financial state (in general) as a 'worldwide recession' as a result companies are going bust here, there and everywhere as the credit crunch tests... Read more...

Analyst predicts 8,450 gaming jobs have been lost since July

Jonathan Steele — Mon, 11 May 2009 20:13:59 +0000

It's no secret that the video game industry has suffered during the current recession. With studios closing at an alarming rate, analyst Wanda Meloni estimates that 8,450 video game redundancies have been made since July... Read more...

CNBC: Apple beating the recession, is 'untouchable'

Sam Symons — Sat, 11 Apr 2009 20:56:29 +0000

Recently, a panel on CNBC's Fast Money turned to the topic of Apple, and how they are faring in the recession. The man who was brought in to talk about it, J.P. Mark from Farmhouse... Read more...

OLPC Foundation hit by recession

Chakkaradeep Chandran — Mon, 12 Jan 2009 22:26:42 +0000

The OLPC foundation(part of Media Lab of MIT earlier) introduced the "Give One, Get One" program during Christmas and New Year holiday period of 2007/2008 to promote the sale of the $100 OLPC computers. During... Read more...