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

Technology, IT, jobs

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 are expected to report the biggest declines.

Analysts have cut their total revenue projection for the five compani

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)


Also Read

Meta Platforms' India staffers on edge over layoff media reports

EU's privacy watchdog fines Meta $414 mn for ads based on online activity

Facebook's parent Meta Platforms set to make first-ever bond offering

Why are we getting mixed signals from India's job market?

Facebook and Instagram: Why Meta removed 27 million posts in India?

Ambani 1st among Indians, 2nd globally on Brand Guardianship Index 2023

RailTel to provide IPTV services to RailWire subscribers from Jan 26

Clients went overboard on equities in last two years, says Ashish Shanker

Railways earns Rs 191,162 cr revenue in FY23; Rs 41k cr more than last year

Implementation of caller name display should not be mandatory: Telcos' body

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

Explore News

To read the full story, subscribe to BS Premium now, at just Rs 249/ month.

Key stories on are available only to BS Premium subscribers. Already a BS Premium subscriber?LOGIN NOW

Register to