WHERE ARE ALL THESE JOB LOSSES IN BIG TECH HEADED? It’s not in the hundreds, but the thousands. Just when one hopes that the worst of the job losses afflicting US Big Tech is done, more spoilers emerge from some of the most systemically important technology companies. Dell was the latest, and what came with the headline job loss figure is the bit about dizzying drops in PC demand. The question then is, can these losses in employment be confined to the US? Or will it filter through across regions, even in those where IT spending continues to tick along? Earlier, it was said that Big Tech was resizing in the post-Covid phase. But now, it looks something much more dire than just resizing workforces. Will the situation become clear – or less stark – by the next quarter? (By Manoj Nair, Business Editor)
Bloomberg