November was brutal. And the chart doesn't even include the December number. Add January into the mix, and the total will most likely double. If you weren't worried before, you should be now.
https://www.visualcapitalist.com/visualizing-tech-company-layoffs-in-2022/
watch the unemployment rate... when the rate crosses above 12 month moving average that ALWAYS signals recession. The signal is a lagging indicator.
Not a good time for Intel to be struggling... 2020/2021 was high demand period due to stimmy checks. Unfortunately the refresh cycle already happened and now CapEx business spending will be chopped. Consumers are tapped out. Nobody wants to commit to IFS project with Intel right now since risk is being avoided.
Intel is not listed in visual capitalist chart. I guess we are no longer high tech....
LOL, Intel won’t layoff we have a messiah who learned at the master’s feet, that should enable Intel with lagging technology, inferior cost to escape with minimum impact.
In Pat we follow!
msft cut 5% global. Mite be 15% US then?
Microsoft just announced an additional 10,000. The had already laid off 1,800 last July.
https://www.cnbc.com/2023/01/18/microsoft-is-laying-off-10000-employees.html
Amazon bumped their number up to 18,000 since the earlier announcement. This includes big impacts to the Alexa group so this is tech related and not just warehouse workers.
Even though Intel made a headcount reduction announcement in October during the Q3 earnings call they didn't specify any numbers. The actual cuts started shortly after the earnings call but have only been at a steady trickle pace. Intel management is really doing a good job of keeping their cuts under the media radar. It makes you wonder why being upfront and truthful about their intentions seems to be such a concern for them. Appears to be a lack of morality.