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Big Tech braces for dismal profits, more job cuts

January 19, 2023
Source: theglobeandmail.com theglobeandmail.com
News Snapshot:
Keen to buttress margins and appease investor concerns at a time of slowing sales growth, big U.S. 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 Inc and Amazon.com Inc are expected to report the biggest declines. Analysts have cut their total revenue projection for the five companies - Meta, Amazon, Apple Inc, Alphabet...
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Tags: Alphabet | Amazon | Apple | capital | cash | China | Covid-19 | data | employee | environment | Facebook | factory | Foxconn | information technology | investment | investor | iPhone | manufacturing | Microsoft | Pandemic | retail | revenue | social media | supplier | technology

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