More layoffs
THE massive job cuts by Amazon.com Inc, one of the biggest private employers in the United States, show the wave of layoff sweeping through the tech sector could stretch into 2023 as companies rush to cut costs, analysts said on Thursday.
As a demand boom during the pandemic rapidly turns into bust, tech companies shed more than 150,000 workers in 2022, according to tracking site Layoffs.fyi, a number that is growing as growth in the world’s biggest economies start to slow.
The layoffs brought back memories of the dot-com bubble at the start of the century and the 2008 financial crisis when tech companies cut jobs in thousands to reduce spending.
“They’re trying to protect themselves so that they’re not caught in the 2008-2009 cycle that we had,” said Greg Selker, managing director at executive search firm
BACKROAD,
NEW INDIA ASSURANCE Toyota Townace KJ481 Honda Grace KK205 Toyota Fielder MC466 (Parts) Jac Truck MB195 Toyota Hilux JP861 Honda Shuttle KD457
TOWER INSURANCE Isuzu DMX KY971 Nissan Tida HJ469 Volkswagon Passat HP059
Stanton Chase.
During the global pandemic, companies ramped up hiring only to reverse course in 2022, with the tech sector leading the job cuts, which according to executive coaching firm Challenger, Gray & Christmas, Inc, surged 649 per cent from 2021.
“It is also giving them an advantage to frankly be more responsible for some of the aggressive hiring that occurred during the pandemic,” Mr Selker said.
The drop in demand amid a steep rise in borrowing costs has led several executives from the sector to admit they hired in excess during the COVID-19 crisis.
Meta Platforms Inc axed 11,000 jobs last year, with chief executive Mark Zuckerberg saying he had wrongly expected that the pandemic boom would keep on going.
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On behalf of Insurance Companies mentioned below we will Auction a number of vehicles on an “as is where is” basis at the
just 1km from the Votualevu roundabout.
EDEN INDUSTRIAL LOT, NADI
Mazda Axela KE193 Toyota Fielder LR2939/HH770 Hyundai H1 LR2505/FZ371 Isuzu DMX LR2979/JT621 Chevrolet Spin LR3726/HV219 Ford Ranger IQ947
SUN INSURANCE Hyundai Yuscan IW337 Landrover JF156
Inspection of the vehicles will be possible from midday till 3pm on Tuesday 10th and from midday on the day of Auction.
This CASH ONLY (Cheques NOT acceptable) Auction will take place on WEDNESDAY 11th JANUARY 2023 FROM 1.00PM ONWARDS.
Usual conditions apply whereby Buyers pay their $500 non refundable Cash Deposit immediately on the fall of the hammer; balance to be paid in full by midday Thursday 12th and vehicles must be removed by 4pm that day.