Apple, Amazon, Facebook and Google face earnings test amid Big Tech layoffs

Apple, Amazon, Facebook and Google face earnings test amid Big Tech layoffs

In the biggest week of the holiday-earnings season, Big Tech results will receive the spotlight amid thousands of layoffs that could only be the beginning. After tech stocks were decimated in 2022, investors will be looking for signs of a turnaround in holiday reports and potential forecasts for the year ahead from three of 2022’s…

More than 68,000 global tech-sector employees have lost jobs in 2023: layoff-data tracker

More than 68,000 global tech-sector employees have lost jobs in 2023: layoff-data tracker

More than 68,000 global technology sector employees have been laid off in the first few weeks of 2023, according to data compiled by the website Layoffs.fyi. The website’s tally of global tech layoffs in 2023 has more than doubled since last week, when it recorded just over 25,000 layoffs. The data suggest 2023 is on…

Google execs to get lower bonuses in cost-cutting move following layoffs

Google execs to get lower bonuses in cost-cutting move following layoffs

Google Chief Executive Sundar Pichai said top executives would take pay cuts following the largest round of layoffs in the company’s history. Speaking at a companywide meeting on Monday, Pichai said employees at the senior-vice president level and above would get lower bonuses as part of cost-cutting measures, according to people who heard the remarks.  The comments came after…

More than 55,000 global tech-sector employees have lost jobs in 2023: layoff-data tracker

More than 55,000 global tech-sector employees have lost jobs in 2023: layoff-data tracker

More than 55,000 global technology sector employees have been laid off in the first few weeks of 2023, according to data compiled by the Layoffs.fyi website. The website’s tally of global tech layoffs in 2023 has doubled this week. It had recorded just over 25,000 as of Tuesday. The data suggest 2023 is on pace…

Despite tech layoffs, California and Silicon Valley added jobs at end of 2022

Despite tech layoffs, California and Silicon Valley added jobs at end of 2022

California and Silicon Valley saw net gains in jobs in December, even as tech companies based in the state announce thousands of layoffs. Employers added 16,200 nonfarm payroll jobs in December, the state’s Employment Development Department reported Friday, even as Silicon Valley companies like Intel Corp. INTC, +2.81% began layoffs. The state’s jobless rate stayed at…

Spotlight on layoffs: Cuts at Adobe, Gamestop, Amazon, Cisco, Roku, Intel and more

Spotlight on layoffs: Cuts at Adobe, Gamestop, Amazon, Cisco, Roku, Intel and more

From Cisco to Amazon, Salesforce, HP, Roku, Beyond Meat, Meta and Twitter, big names across a number of sectors have announced major layoffs in recent months. Cisco Systems Inc. CSCO, +3.07% has begun previously announced layoffs, cutting nearly 700 jobs in Silicon Valley in December, according to filings with the state of California in January….

Microsoft will benefit from ChatGPT, OpenAI in multiple ways — potentially at Google’s expense, analyst says

Microsoft will benefit from ChatGPT, OpenAI in multiple ways — potentially at Google’s expense, analyst says

Microsoft Corp.’s investors don’t fully appreciate its investment in OpenAI, and by extension the profusely-hyped and rapidly growing chatbot ChatGPT, a platform that could eventually help the tech giant compete with Google, an analyst said Wednesday. That analyst, Gil Luria at D.A. Davidson, initiated coverage of Microsoft MSFT, -4.37% with a buy rating and a…

NFL nears deal with YouTube for exclusive rights to ‘Sunday Ticket’

NFL nears deal with YouTube for exclusive rights to ‘Sunday Ticket’

The National Football League is in advanced talks to give Google’s YouTube, part of Alphabet Inc. GOOGL, +0.66%   GOOG, +0.54%,  exclusive rights to “Sunday Ticket,” a subscription-only package that allows football fans to watch most Sunday afternoon games, people familiar with the matter said. An agreement could be reached as early as Wednesday, following a meeting of NFL…

Opinion: No love for meme stocks — kids are loading up on Apple’s stock and index funds

Opinion: No love for meme stocks — kids are loading up on Apple’s stock and index funds

Forget about teaching kids the value of compound interest by escorting them to a local bank and helping them deposit their birthday money. These days, youngsters are picking stocks as if they’re mini-Warren Buffetts.  On the Greenlight platform, which caters to families, kids under 18 invested $13.4 million in 2022 and made 386,382 trades, up…

World Cup semifinal coverage disrupted by cyber attack on streaming service FuboTV

World Cup semifinal coverage disrupted by cyber attack on streaming service FuboTV

Coverage of Wednesday’s World Cup semifinal between France and Morocco on TV streaming service FuboTV Inc. FUBO was disrupted by a cyber attack, the company has confirmed. In a statement released Thursday FuboTV said that, during Wednesday’s live coverage of the game, many customers experienced issues accessing their accounts. “The incident was not related to…

Google to merge Maps, Waze teams as cost-cutting move

Google to merge Maps, Waze teams as cost-cutting move

Alphabet Inc.’s GOOGL, -2.10%   GOOG, -2.22% Google plans to combine the team working on the mapping service Waze with the group overseeing the company’s Maps product, as the search giant faces pressure to streamline operations and cut costs. Google plans to merge Waze’s more than 500 employees with the company’s Geo organization, which oversees the…

Google, Oracle, Amazon, Microsoft to share $9 billion ‘return of JEDI’ defense contract

Google, Oracle, Amazon, Microsoft to share $9 billion ‘return of JEDI’ defense contract

Alphabet Inc.’s Google, Oracle Corp., Amazon.com Inc., and Microsoft Corp. will share a $9 billion hybrid contract to provide secure cloud services for the Pentagon worldwide, the Department of Defense said Wednesday. In the Pentagon’s daily contract announcements, Alphabet GOOG, -2.22%   GOOGL, -2.10%, Oracle ORCL, -0.16%, Microsoft MSFT, -0.31%, Amazon AMZN, +0.24% were jointly…

New Zealand plans law to force Google, Meta to pay news publishers for content

New Zealand plans law to force Google, Meta to pay news publishers for content

New Zealand intends to require large tech companies like Google and Meta to compensate local media companies for content they use and share on their platforms. Willie Jackson, New Zealand’s minister of broadcasting, announced Sunday that legislation is being drawn up that will be based on a similar law in Australia, as well as pending…

Tech jobs gain despite wave of layoff announcements, but warning signs abound

Tech jobs gain despite wave of layoff announcements, but warning signs abound

The tech industry continued to add jobs despite the tens of thousands of layoffs that were announced in November, though tech job postings continued a downward slide, according to an analysis of U.S. employment numbers released Friday. U.S. tech companies actually added 14,400 workers in November, according to the Computing Technology Industry Association, or CompTIA,…

‘Cloud titans’ Meta and Microsoft bring growth and risk to Arista Networks, analyst says

‘Cloud titans’ Meta and Microsoft bring growth and risk to Arista Networks, analyst says

Arista Networks Inc. is enjoying revenue growth fueled by the so-called “cloud titans” led by Meta Platforms Inc. and Microsoft Corp. But at least one analyst warns that this could be a double-edged sword for Arista. Cloud-software and data-center supplier Arista ANET, +3.37% reported third-quarter earnings and outlook that topped Wall Street’s relatively low consensus…

Opinion: A $3 trillion loss: Big Tech’s horrible year is getting worse

Opinion: A $3 trillion loss: Big Tech’s horrible year is getting worse

Big Tech companies are taking a heavy beating this week, to the tune of more than $255 billion in lost market capitalization that’s helped make a bad year even worse for the once-beloved sector. The five tech giants that posted results this week have now lost a combined $3 trillion in market cap on the…

Big Tech has been an earnings refuge for years, but safety is no longer a sure thing

Big Tech has been an earnings refuge for years, but safety is no longer a sure thing

The biggest week of third-quarter earnings season will also likely be its most anxiety-ridden, as an onslaught of onetime surefire tech giants prepare to report amid staffing cutbacks and signs of slowing demand for digital ads, e-commerce and smartphone sales. The dyspepsia for tech investors begins Tuesday, with earnings from Microsoft Corp. MSFT, +2.53% and…

5 trends you need to follow this earnings season to make sure your investments are on track

5 trends you need to follow this earnings season to make sure your investments are on track

The third-quarter earning season kicks off this week with the first reports from big banks and investors can expect many of the same themes and talking points seen earlier this year. Inflation, supply-chain snags, the strong dollar and consumer spending are all expected to feature prominently in releases and on conference calls with analysts, along…

‘We don’t get to choose the macroeconomic conditions always,’ Google CEO Sundar Pichai tells disgruntled staff

‘We don’t get to choose the macroeconomic conditions always,’ Google CEO Sundar Pichai tells disgruntled staff

Google CEO Sundar Pichai reportedly grew agitated during a “heated” all-hands meeting in which an employee asked why the search engine was nickel-and-diming workers by taking away perks and benefits. One worker summoned the nerve to ask Pichai why Google was “nickel-and-diming employees” when the company reported “record profits and huge cash reserves,” according to audio…