Financial analysts expect the pace of job cuts to increase across big tech as the effects of surging inflation globally hurt appetite for big investments.
Microsoft has admitted"structural adjustments" in the wake of a report suggesting the US tech firm had cut around 1,000 jobs this week.
Big tech had been a big winner during the COVID pandemic as investor cash flooded into stocks which supported working from home and a new hybrid working future, for example. But the tech stocks soon came under pressure as consumer and business budgets were squeezed by the pace of price rises globally.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Microsoft laumnches another round of job cutsMicrosoft makes another round of jobs cuts amid slowing economy
Read more »
Microsoft has reportedly laid off around 1000 employees, including Xbox staff | VGCMicrosoft has reportedly laid off around 1000 employees, including Xbox staff.
Read more »
Kakao Co-CEO resigns to apologize for massive outageIt's moment of Big Tech accountability you've been waiting for ... ish Kakao CEO quits, South Korean govt hits emergency button after disruptive datacenter blaze
Read more »
YouTube more likely to recommend conservative vidoes to allYouTube loves recommending conservative vids regardless of your beliefs
Read more »
Independent Scotland could face 'bigger cuts to public spending' than rest of UKThe Institute for Fiscal Studies said the latest Scottish Government briefing paper on independence 'skirts around' tough spending choices.
Read more »