Amazon is freezing its hiring while Lyft is laying off 700 workers, accounting for 13% of its employees. The news add to concerns that the tech labor market is cooling as the Federal Reserve continues slowing down the global economy.
LinkedIn data shows that remote job listings are declining. The falling offers to work from home or anywhere come at a time when job seekers show increased appetite for remote work.
Data by the Bureau of Labor Statistics shows that productivity in the workplace has seen its steepest fall since 1947.
In today’s world, prices for everything are going up and that includes subscription prices. Apple and YouTube have already announced they will increase their prices for Apple TV+, Apple Music, and YouTube Premium subscriptions. Now Spotify is likely to follow and increase its price as well.
Online ad spend has been in decline over the last months as the global economy is slowing down. As a result, Google’s parent company Alphabet reports a decline in sales growth.
Inflation rises to double digits in the UK as inflation jumps to 40-year highest since 1980. Both the energy costs and food prices are making it harder for households to manage cost-of-living.
Meta, Facebook’s parent company, is planning on selling Giphy just 2 years after it purchased it due to the UK competition watchdog ordering Meta to do so.
On October 11th, Microsoft’s CEO, Satya Nadella, announced during the Meta Conference that the two companies would enter a partnership together to work on bringing Microsoft Office 360 apps into the Metaverse.
Goldman Sachs says Credit Suisse needs $8 billion until 2024 for its restructuring. Jefferies puts the cost as high as $9 billion for the coming few years.
YouTube will no longer let its users watch free 4K quality videos on their platform anymore and require users to upgrade their account to YouTube Premium to do so.
The average 30-year mortgage rate in the United States has risen to 6.7%, the highest level since 2007, according to Freddie Mac, a major mortgage company.
After an anticipated jump in demand did not occur, Apple has decided against increasing the manufacturing of its new iPhones this year.
