CNET: Facebook Parent Meta, Google to Cut Costs and Staff, Report Says

CNET: Facebook Parent Meta, Google to Cut Costs and Staff, Report Says. “Facebook parent company Meta and Alphabet’s Google are reportedly cutting staff as the tech giants look to slash costs amid slowing growth. Citing people familiar with these decisions, The Wall Street Journal reported on Wednesday that Meta is looking to slash its costs by at least 10% within the next few months.”

One Day, Thousands of Job Cuts: Economic Pain Is Deepening (Bloomberg)

Bloomberg: One Day, Thousands of Job Cuts: Economic Pain Is Deepening. “In one of the biggest layoff announcements since the pandemic caused widespread economic shutdowns, Walt Disney Co. said late Tuesday that it’s slashing 28,000 workers in its slumping U.S. resort business. In the hours that followed, the pace of job cuts at some of the world’s biggest companies — across in a range of industries from energy to finance — quickened. On Wednesday, Allstate Corp., the fourth-largest car insurer in the U.S., said it will cut 3,800 jobs, roughly 8% of its workforce. And Bloomberg reported that Goldman Sachs Group Inc. plans to cut roughly 400 jobs after temporarily suspending job reductions at the beginning of the crisis.”