The "layoff tide" swept across Silicon Valley, and Wall Street and Disney joined it!

Affected by inflation and poor economic situation, many large American technology companies have recently announced layoffs or suspended recruitment.

According to many foreign media reports, such as Reuters and CNBC website, many American enterprises are laying off employees or freezing recruitment in response to the economic recession.Facebook parent Meta announced earlier this week that it would cut 11,000 jobs, or 13% of its workforce, to control costs.On the 3rd of this month, Musk announced massive layoffs after acquiring Twitter.In October, Amazon announced a hiring freeze for its retail business.

At present, the tide of layoffs has begun to sweep Wall Street.According to CNBC on the 9th,CitibankIt is planned to lay off about 50 trading positions this week.Citigroup also cut dozens of jobs in its investment banking division as mergers and acquisitions slowed, Bloomberg reported earlier.

Headquarters's London-based Barclays also cut about 200 jobs this week in its investment banking and trading divisions.Morgan Stanley Bank of the United States is also planning to lay off employees.

On November 10, local time, the data released by the US Department of Labor showed that the US Consumer Price Index (CPI) rose by 0.4% month-on-month and 7.7% year-on-year in October this year.Some economists have analyzed that although the data show that the inflation situation in the United States has improved, there is still a long way to go before returning to normal.How the Fed makes decisions in the process of controlling inflation will have a great impact on the US and even the global economy.

Major US technology companies announce layoffs

According to CCTV news reports, Mark Zuckerberg, CEO of Meta, the parent company of American social media platform Facebook, wrote in a letter to employees on the 9 th: "I decided to reduce our team size by 13% and lay off employees." More than 11,000 senior employees. We will also cut discretionary spending and extend the hiring freeze until the first quarter of 2023 to become a leaner and more efficient company.

According to reports, this is the first large-scale layoffs since the establishment of Yuan Company.The company also plans to implement "workstation sharing" measures to reduce office space.

After completing the acquisition of Twitter, a well-known social media platform in the United States not long ago, American entrepreneur Elon Musk started a large-scale layoff plan, with the layoff ratio approaching 50%, that is, more than 3,700 people were laid off. To improve Twitter's status quo.Loss and debt problems.

Lift, an American network car company, also announced layoffs on the 3rd.Logan Green, Lift's chief executive, and John Zimmer, its president, said the company would cut 13 percent of its staff and all its divisions would be affected.In a document filed with the US Securities and Exchange Commission on the same day, Lift said it would lay off about 683 employees to cope with the possible economic recession and deteriorating economic conditions.

Patrick Keirrison, CEO of Headquarters's online payment service Stripe in San Francisco, said in a letter to employees on the 3rd that the company will lay off 14%, that is, about 1,100 employees, due to the impact of rising inflation, economic recession, rising interest rates, energy crisis, tight investment budget and shortage of start-up funds.

GF and Disney join the wave of layoffs in the United States

According to Cailian, GF, the largest semiconductor foundry company in the United States, has informed its employees that it is about to lay off employees, but has not given the specific number and time of layoffs.In this week's earnings call, the company said it was seeking to cut operating costs by $200 million.

In addition, according to the World Wide Web report, Disney has also informed employees that it will freeze the recruitment of some positions and make some layoffs at the same time.

According to a report by Reuters on the 11th, a memo sent by Disney CEO Bob Chapeck to the leading department shows that Disney is suspending the recruitment plan in a targeted manner and planning "small-scale layoffs" to control costs.

"While certain macroeconomic factors are beyond our control, achieving these goals requires everyone to continue to do their part to manage things within our control-especially costs," the memo reportedly read.Reuters said that Disney's quarterly financial report announced on the 8th was not as good as intended's, and the entertainment giant announced even greater losses as it entered the streaming video business.After the company released its financial report on the 9th, its share price fell by more than 13%.

According to reports, the memo mentioned that the company has begun to consider cutting content and marketing expenses, but Chapeck said that quality will not be sacrificed."The transformation aims to Make sure we thrive today and in the future, "he wrote.

There is still a long way to go to control inflation in the United States

According to the Financial Associated Press, this round of layoffs and spending has affected almost all large and small companies in Silicon Valley.Aim atThe "layoffs" in Silicon Valley, Pan Helin, co-director and researcher of the Digital Economy and Financial Innovation Research Center of Zhejiang University International Business School, told reporters, "From the perspective of the big economic environment,Inflation in the United States is high, the Federal Reserve is actively raising interest rates, the US economy is currently going from overheating to recession, and the poor macro economy has led to an increase in layoffs. "

Chen Zemin, chief analyst of Huafu Securities Internet Media, told reporters that the human efficiency of Internet enterprises needs to be continuously improved.In this respect, the bottleneck of American Internet companies is not much higher than that of Chinese Internet companies.

Pan Helin told reporters, "LayoffIt is bound to increase the unemployment rate. There are many layoffs in Quantity, and the scale is not small. When both inflation and unemployment are high, it could mean that the U.S. economy is in recession. "" Whenever there is a trigger, such as a debt default, the fragility of the U.S. macro economy will be revealed. "

According to CCTV news, American experts said that the main reason for large-scale layoffs is that the Federal Reserve raised interest rates for a longer time than intended's.Experts said that it is impossible to judge when the market and economy will pick up, and inflation and high interest rates are consuming enterprises'Cash flowThis will also have a huge impact on industries other than technology companies.

Dallas Fed Chairman Logan said on November 10th that the new CPI data is gratifying, but there is still a long way to go before inflation can be controlled.Logan told an energy conference in Houston that she thinks the Fed may soon slow down the pace of interest rate hikes, but she also warned that the slowdown should not represent an easing of overall policy.

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