Layoffs announced in the last day:
- Lyft 13% of workers
- Opendoor 18%
- Stripe 14%
- Chime 12%
- Twitter 50%
- Morgan Stanley (% unknown)
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PC sails are down and will continue to plummet as inflation runs rampant.
Next stop will be the big cloud guys and all corporate IT.
This will result in sever contraction to add to the client woes and with the Intel delays and uncompetitive product positioning 2023 and 2024 will be ugly to say the least.
No way Pat can do find the justification or keep the pocket book open for the huge spends on TD and fabs with no customers or product.
It will be 20% easy layoffs next year in more than SM
Putin's Russia, Elon's Twitter, it's a dangerous world.
I agree. and the Fed will not let off the gas... watch initial jobless claims carefully. Liquidity is getting sucked out of the real economy as fast as it ever has. This time next year we will be in a recession. How deep is the only question now. Short term treasuries are not a terrible place to wait this out.