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Reversing Covid-era excesses: Big Tech braces for sackings, dismal profits

Large US technology firms expected to announce layoffs, cut costs through the next few months, say experts

Technology, IT, jobs
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Technology, IT, jobs

Reuters
Keen to buttress margins and appease investor concerns at a time of slowing sales growth, big US technology firms are expected to whittle away at their bloated workforce and costs through the next few months, reversing pandemic-era excesses, analysts said.

Each of America’s five largest tech companies, though, are expected to report a fall in profits for the October-December period, as they try to recalibrate in a high-interest environment. Facebook-owner Meta Platforms and Amazon.com are expected to report the biggest declines.

Analysts have cut their total revenue projection for

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First Published: Jan 19 2023 | 11:55 PM IST

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