BIG TECH RECESSION
Tech layoffs were just the start: 1.6 million more US job cuts could push America toward recession
US technology layoffs have crossed 200,000 in 2026, with Google, Microsoft, Amazon and other major companies cutting jobs. But the bigger concern is whether the trend will spread to retail and financial services, where another 1.6 million job losses could push unemployment higher and raise fears of a US recession.
Global markets were already fragile. Big AI bets could break them
Investors flocked to bonds. Yields, which move inversely to price, fell from multidecade highs, with the benchmark 10-year Treasury, which guides borrowing costs globally, falling almost 20 basis points on October 22, its biggest daily fall since early 2023.
As the coding boom fades, computer science grads focus on AI skills in choppy job market
The elevated jobless rate in the field - at around 7.1% for recent computer science and computer engineering graduates, according to an Associated Press analysis - reflects in part the huge numbers of students who enrolled during the coding boom.
How is Gen Z affording iPhones, cafés and weekend plans on Rs 30,000-50,000? CA explains the uncomfortable truth
CA Nitin Kaushik explains why Gen Z’s expensive-looking lifestyle does not necessarily indicate higher wealth. iPhones, branded sneakers, cafés, holidays and cabs may be funded through EMIs, credit and frequent small purchases. Social media has also changed perceptions of normal spending. While Gen Z has more earning opportunities, Kaushik says the real challenge is keeping enough income to build wealth.
In this classic contrarian year, losers of a prior period may do well: Geoff Dennis
Geoff Dennis believes the technology sell-off is part of a classic contrarian or rotation year, compounded by fears of a US recession, tariff uncertainties, and limited Fed leeway for rate cuts. He advises caution as uncertainty mounts and suggests the environment may favor previous losers over last year's tech winners.
US headed for a severe recession, says ace investor
The United States may be on the verge of a major recession, according to an ace investor and the implications of the same can be very sharp and critical. The US economy has been seeing some major issues over a period of time, and now there are chances that the country's financial could be in a critical state.
Cryptocurrencies hit by huge selloff. Here’s why
Bitcoin dropped 13% from its Sunday closing price to $51,560, heading for its biggest one-day fall since November 2022 and its lowest level since February. Ether fell 17% to $2,277, its lowest since mid-January. Ethereum price on Monday was $2,332, down 19.71% from the previous day.
Big Tech backs stock gains with solid results, growth prospects
Tech's propping up of the market had raised concerns that the gains could be on somewhat shaky ground if companies couldn't deliver actual results.
US tech stocks: Is it time to book profits?
The AI buzz and hopes of a rate hike pause by the US Fed are helping tech stocks post a strong rebound.
Beyond Silicon Valley, spending on technology is resilient
Big Tech companies such as Amazon, Alphabet, Microsoft and Meta are laying off workers. But that is not true of the broader tech economy.
Tinder owner Match to lay off about 8% staff after downbeat forecast
The company has already cut jobs in the United States and the process is ongoing in other countries, chief financial officer Gary Swidler said on the earnings call.
Layoff season continues as 219 tech firms sack over 68,000 employees in January
The layoff season continued to hit the tech world in 2023 with some big names like Microsoft and Google joining the list. More than 3,400 tech employees are being laid off per day on average in January globally.
After $18 trillion rout, global stocks face more hurdles in 2023
Optimists may point out that the rate-hiking peak is on the horizon, possibly in March, with money markets expecting the Fed to switch into rate-cutting mode by the end of 2023. A Bloomberg News survey found 71% of top global investors expect equities to rise in 2023.
Migrant workers, the tech version
The longer trend of enterprises turning digital could be reinforced by a mild to severe recession in advanced economies. The Indian industry has positioned itself to ride it. The country has one of the world's largest pools of digital workers with enormous scope for labour arbitrage
Big Tech layoffs – a meltdown or course correction? Harvard Prof Ranjay Gulati explains
“There has been a bit of a reshuffling from Big Tech to small tech, right sizing of support functions. so there is a lot more to the story than just laying off 15,000 engineers who have nothing to do now. It is a more complicated story but no question that for those who are wondering if we are going to have a recession ahead, this could be a bellwether to what lies ahead. ”
Microsoft continues layoffs, sacks nearly 1,000: report
The company has confirmed the ‘role eliminations’. This is the third round of layoffs at Microsoft in four months. In July, the Big Tech firm fired nearly 1% of its 180,000-strong workforce across offices and product divisions as part of a ‘realignment’.
Recession fears hit Big Tech firms as Facebook parent Meta pauses hiring
Meta joins a growing list of tech firms such as Apple, Google, and Microsoft that have either paused hiring or started laying off staff
Meta flags recession concerns as Big Tech firms face global headwinds
Meta CEO Mark Zuckerberg echoes comments from Alphabet’s Sundar Pichai.
View: The answers to India's post-Covid revival go beyond public spending and macro remedies
Without denying the need for governments to spend more to prevent a humanitarian catastrophe, we have failed to ask ourselves a more basic question: is this going to get us permanently out of trouble? Didn’t we do the same after 2008, and did we really get to a better place over the last decade? Why is it that monetary and fiscal steroids are seen as the only antidotes to slowdowns, recessions and depression?
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