Big Tech Giants’ Profits Soar Amidst Waves of Mass Layoffs | Firstpost Tech & Trade
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- čas přidán 8. 06. 2024
- Big Tech Giants’ Profits Soar Amidst Waves of Mass Layoffs | Firstpost Tech & Trade
Over the past weeks, headlines have been dominated by the staggering earnings of tech giants: Microsoft, Apple, Alphabet, Amazon, and Meta. Billions upon billions flood their balance sheets, a testament to their dominance in the market. In the first quarter of this year, Microsoft's profit climbed by 20% to nearly $22 billion. At the same time, Alphabet’s profits reached around $23.7 billion. Meanwhile, Amazon saw over 200 percent growth in its quarterly profits. Meta’s profit also more than doubled during this period. Yet, amidst this wealth, the tech industry grapples with mass layoffs. Despite record-breaking profits, these companies have shed thousands of jobs. Analysts attribute these layoffs to cost-cutting measures and a shift towards artificial intelligence, the new frontier in tech.
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It's crucial for individuals to diversify their portfolios, seek professional financial advice, and stay informed about market trends to navigate these challenges effectively.
These layoffs can be brutal.
And let's not forget how the global economy plays into all of this. Economic instability, inflation, and market fluctuations can further complicate matters and add to people's financial worries.
the problem is that you don't have the knowledge needed to succeed in a challenging market. Only highly qualified professionals who had to experience the 2008 financial crisis could hope to earn a high salary in these challenging conditions.
No doubt being financially free and not having to worry much about health care and other expenses cannot be overemphasized, making smart plans and setting up diversified investment portfolios is quite essential.
You need to get a financial planner or expert on diversification to aid diversify your portfolio to commodities index funds, digital assets etc, to provide illumination and guidance in the financial markets.
They all want their bonus.... They are going the Boeing way " Profit instead of quality "
These are the people who make one employee do work of three, at the same cost under the term of less manpower. So thry lay off employees yet their work doesn't get impacted n profit will obviously increase..but they r destroying middle class
Agree, slog and also get layed off
Mass lay offs will destroy the tech industry.
Mass adoption of AI
They must learn the lesson
As you can see from the data, their profits are soaring, not slumping. The more layoffs, the more profits. Who cares about the civilians? Investors or government? Nobody. Employees should care for themselves and learn that a job is just a job. A supply and demand! Employees would rather be practical and not sacrifice their entire lives to employers who use them as tissue paper and throw them away. The relationship is only transactional.
Great jobs have "no job security" because competition for employment is fierce!
Yet so many Indians see Sundar Pichai as their idol and role model. The colonial mindset is still very prevalent
For an Indian, his personal success is phenomenal and what's wrong to make him a role model.
@@Nk99995 yes, why not ? Nothing wrong with making the Indian CEOs of modern day East India Companies our role models
They fired more muricans than Indians 😂, BTW we believe in you ourselves not others 😊@@Hamasvard_University
Comparing apples with oranges. Sundar Pichai is still a role model not only because of his personal achievements but also increasing the corporate profit. Investor and corporate standards he is delivering above expectations. Coming to emotional ground .. of course this is pathetic but he is not running an NGO in 1st place for human cause
@PlaytimeEntertainment U missed the point. Of course he is a highly successful intelligent competent guy. But I am talking about the fact that these companies are modern day EICs. And Indian CEOs are leading them. There are several corporates who have done much more for India, like Ambani, Tata etc. Of course they are not all goody goody, but still, we should idolize them instead of idolozing Pichai and Nadella
The background music seems so cheerful like they are recruiting.
Yes for companies😂
I'm favoured financially, Thank you Jesus $32,000 weekly profit regardless of how bad it gets on the economy.
The future belongs to those who believe in the beauty of their dreams. Success is a state of mind. I think I'm blessed because if not I wouldn't have met someone who is as spectacular as Expert Mrs Lucy Mary Liam.
Hit $200k today. Thank you for all the knowledge and nuggets you had thrown my way over the last months. Started with $20k in October 2023
Most rich people stay rich by spending like the poor and investing without no stopping then most poor people stay poor by spending like the rich yet not investing like the rich but impressing them
You're absolutely right, and that's a beautiful mindset you've got there I never thought of it this way before.
The idea of the whole trade market is something I still can't wrap my head around.
If your job is easy and high paying at the same time.. at some point corporate is gonna notice and lay you off then give your work load to another person so they get there moneys worth!
Layoff is going to be the norm because of AI.
AI will take more jobs than it can create.
You are correct because now there is no stopping AI which is here to stay.
Yeah. Thts one reason.
These handfull of big tech AI companies like Google, Apple, Meta, Amazon, Microsoft will eventually buy these traditional companies when they become tech enabled and upgrade them with AI. In London it is impossible to even get a mortgage for a house. If you even somehow manage to get one, you will lose your house because you have been layed off by the Tech company. You need to have a £160,000 Annual salary to buy a house in London along with a hefty deposit. Starting Engineer annual salary is £24,000 in London.
...."Africa....the heart of the global South..." Is that a compliment? Asking for a friend
That’s a pretty small cut back considering the size of those companies take the auto industry. For instance, look how many thousands they lay off when it’s time to cut back.
revenue - costs = profit, they are managing this formula.
Oh! Alyson le Grange also left from WION news and now landed in First Post with Palki 😱
It all does not matter because the stock market loves it
Cream always flows the top it’s all about the growth & profits
Many software engineering jobs are disappearing in the US.
0:45 "look at this number"? where is percentage?
Yes, this is called capitalism! 😢
They are investing in AI and lands acquisitions globally. They are very wise for keeping their investments bottom lines secured. Those firms realized they were over saturated and workers were overpaid during recruitment. Now they are trimming the fats so to keep afloat for centuries.
Making the Big Guy happy so Fed has an excuse to lower interest rates.
AI
Nothing me
are samajgaya bhai....IT ko Monday ko uchhalbe walo ho aur market ko is reason dikha kar upar lekar jaane walo ho...kitna chillaoge?
🙏🌍✌💛☮🕊❤🔥
Jewish kingdom with Hindu chanakyas... what's to stop the river of profits.
Boycott Amazon completely and buy from local vendor until it got destroyed completely
Must have you cash stocks in selfe digital holograme bank of murda jinda, it is your's cash with you for any life's birth's after death and birth,
This is the need of the hour.

😂😂😂😂
Vrau.bani mej.ches 990.BILLION DATA.20.maj. 2023