jobcuts
The once bubbly and booming big tech industry is now coming to face a harsh reality, as profits shrink against the backdrop of wider economic problems as inflation remains stubbornly high, interest rates keep climbing and venture capital funds start to dry up. After seeing more than a decade of stratospheric expansion, where household names in Silicon Valley scooped up some of the industry’s top talent – thousands of techies are now finding themselves without a job as companies around the world are slashing jobs to keep up with rising costs and slowing economic activity. Q4 2022 hedge fund let...
ValueWalk
The growing number of layoffs sweeping the U.S. has now spread to Wall Street. Pay cuts and job cuts are expected across the financial industry as bonus season nears. The lucky ones can expect bonuses that are up to half as much as they were last year. Pay Cuts And Job Cuts Expected Across Wall StreetCiting a report from compensation consulting firm Johnson Associates, CNBC reports that plunging equity and debt issuances this year are to blame for the sizable pay cuts expected as bonus season nears. According to the firm, bankers who underwrite securities could see their bonuses slashed by 40%...
ValueWalk
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