A host of companies have announced job cuts or hiring freezes in just the last two weeks. They range from Tesla and JPMorgan Chase to Redfin and Coinbase.
As the Federal Reserve pumps the brakes on the economy, many American companies are retrenching. There isthat as the central bank aggressively hikes interest rates to fight high inflation, it could tip the U.S. economy into a recession, and executives are cutting back.
"We don't seek to put people out of work," he said."But we also think that you really cannot have the kind of labor market we want without price stability." For instance, the exercise equipment company Peloton took off when gyms closed. Similarly, Netflix's popularity soared when people were stuck at home, binge-watching TV shows and movies.
"Doing so enables us to be more resilient in hard times, and stronger during the good," he said in a memo to Robinhood employees.Tesla CEO Elon Musk, who reportedly told employees he had a"super bad feeling" about the economy, announced plans to cut the car company's salaried workforce by around 10%.
Crypto.com reduced its staff by 5%, and Gemini, the cryptocurrency exchange run by Cameron and Tyler Winklevoss, reduced its headcount by 10%. Coinbase, which operates one of the largest crypto exchanges in the world, laid off more than 1,000 people, or close to 20% of its workers.."Our employee costs are too high to effectively manage this uncertain market."Another part of the economy that went gangbusters during the pandemic was the housing market.
France Dernières Nouvelles, France Actualités
Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.
Tesla cuts 200 autopilot workers as it closes San Mateo siteMost of the roughly 200 people let go were hourly workers.
Lire la suite »
Tesla lays off nearly 200 Autopilot employees who help train the company’s AILabelling data is essential for developing many AI systems
Lire la suite »
Enhanced Autopilot Returns As An Option Between FSD And Standard Autopilot For Tesla Vehicles | CarscoopsEnhanced Autopilot Returns As An Option Between FSD And Standard Autopilot For Tesla Vehicles | Carscoops carscoops
Lire la suite »
Tesla Lays Off Some Staff in Closing San Mateo, Calif., OfficeTesla is closing one of its Silicon Valley offices and laying off about 200 people there as part of the electric vehicle maker’s plans to trim its head count amid rising costs
Lire la suite »
Tesla Building Standard Range And Long Range Model Y In AustinTesla appears to have begun making the Model Y Long Range in Texas along with a new Standard Range with 4680 battery cells.
Lire la suite »
Tesla reportedly lays off 200 Autopilot employees in latest jobs cut | EngadgetTesla has reportedly laid off approximately 200 workers from its Autopilot team and closed an office in California..
Lire la suite »