Technology giants Amazon Meta and Alphabet all have different business mixes, but they’re similar in that they all delivered poorly received earnings reports last week.
Technology giants Amazon.com Inc. AMZN, -4.82%, Meta Platforms Inc. META, -4.89% and Alphabet Inc. AMZN, -4.82% all have different business mixes, but they’re similar in that they all delivered poorly received earnings reports last week.
One theme that stood out following the latest results was that “Big Tech hates firing people,” Shmulik wrote. Whereas smaller tech companies like Snap Inc. SNAP, -6.93% and Shopify Inc. SHOP, -3.68% recently announced jobs cuts, Big Tech companies merely slowed the pace of headcount expansion, with Amazon in particular reducing its workforce by 100,000 but then announcing 150,000 seasonal hires.
It’s possible that they just “don’t care,” Shmulik said, given “the company tenure of management at each of the companies and supervoting shares at Meta,” but he noted that executives “are stuck on this journey too” due to their own stock ownership. They should understand the fear that if the stocks struggle, employees who are heavily compensated in shares may go elsewhere, he said.
“Google segments out their most disconnected investments but there are certainly other venture-like projects going on inside the core business segments ,” he wrote. And a “simple LinkedIn scrape shows ~8.5K current headcount across … teams/projects at Amazon that we believe are loss-making today,” even if some of those areas, like Meta’s Reality Labs, are earning some revenue.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
'Major Milestone' as Judge Halts Mega-Merger Between US Publishing Giants'A huge win for America's system of antitrust law—designed to protect creators, workers, independent businesses, and consumers from consolidated power and control.' openmarkets
Read more »
Amazon Music expands benefits for Prime members, removes ads for select podcastsAmazon introduced a few more Music benefits for Prime members, which involve an expanded ad-free catalog and no ads for select podcasts.
Read more »
Amazon Echo deals for Alexa's birthday hit the lowest prices of 2022Amazon Echo deals are back for Alexa's birthday! Get the Echo Dot, Echo, Echo Buds, Echo Auto, and more at the lowest prices of 2022.
Read more »
Amazon has frozen headcount at its growing advertising businessAmazon has frozen headcount at its growing advertising business, after it posted a glum fourth-quarter outlook amid slowing sales: reports
Read more »
Amazon Music Goes Ad-Free on Select Podcasts for Prime MembersAs Amazon Music seeks to gain a competitive edge over rival music and podcast platforms, the audio streamer is sweetening the deal for Prime members by including ad-free podcast listening as a member perk
Read more »
How to Add Chat to Your Amazon IVS Live Stream | HackerNoonIn this post, we're going to level up the interactivity and add live chat alongside our live stream viewer. - by elementaltech amazonivs chatinamazonivslivestream
Read more »