Spending Cuts
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Israeli Minister Plans Spending Cuts In 2025 Budget To Fund Gaza War
Israeli Finance Minister Bezalel Smotrich said on Tuesday the 2025 state budget will feature steep spending cuts as the government tries to balance fiscal responsibility with a need to finance Israel's ongoing war with Hamas in Gaza.
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Milei Swears In As Argentina's President, Warns Of "Shock Treatment" For Economy
Argentina's President Javier Milei took office Sunday with a stark warning to citizens to brace themselves for painful austerity measures as he seeks to cut spending and curb triple-digit inflation, all with empty coffers.
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US Faces Shutdown Risk Despite New Compromise Plan
The US still faces a risk of a government shutdown at the end of this week despite a new compromise plan by Speaker Mike Johnson that leaves out hardline conservative priorities like cutting spending and curtailing migration.
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Infosys, TCS Cut Back On Hiring Due To Waning Demand For IT Services
India's top IT service providers are going slow on hiring as clients cut back spending and defer projects due to macroeconomic challenges, in a U-turn from the excesses of the past few years made in anticipation of further growth.
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Qualcomm Predicts Q4 Sales Below Market Estimates Due to Macroeconomic Headwinds, Weaker Global Handset Units
Qualcomm has predicted that its fourth-quarter sales would fall below market estimates, as the California-based chipmaker deals with slowing global economic growth and consumer spending on smartphones remained weak. The firm also said that its forecast for the remainder of 2023 assumes no "material revenue" from Chinese smartphone maker Huawei.
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Pakistan Aims To Generate Billions In New Taxes To Help Seal IMF Deal
Pakistan's government aims to generate an additional Pakistani rupees (Rs) 215 billion in taxes and cut spending by Rs 85 billion in the next fiscal year in order to seal International Monetary Fund (IMF) deal, Dawn reported.
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Netflix Plans to Cut Spending by $300 Million; No Layoffs Expected: Report
Netflix plans to cut its spending by $300 million (nearly Rs. 2,465 crore) this year, the Wall Street Journal reported on Friday, citing people familiar with the matter. Company leaders urged staffers to be judicious with their spending, including in relation to hiring, but said there would be no hiring freeze or additional layoffs, according to t...
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Accenture to Cut 19,000 Jobs Amid Concerns of Lower IT Spending Due to Global Economic Outlook
Accenture has announced it plans to cut about 2.5 percent of workforce, or 19,000 jobs, as the lowers its profit and revenue forecast for the year. The firm said more than 50 percent of the job cuts would affect staff at its non-billable corporate functions.
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IT Services Firm Accenture To Cut 19,000 Jobs, Trims Profit Forecasts
Accenture Plc said on Thursday it would cut about 19,000 jobs and lowered its annual revenue and profit projections, the latest sign that the worsening global economic outlook was sapping corporate spending on IT services.
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''Top Performers Were Let Go'': Meta Employee Laid Off On Maternity Leave
Meta Layoffs: A Meta employee has revealed that her maternity leave was cut short due to the layoffs, after spending three years at the company.
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Spotify Monthly Active Users Cross 500 Million Mark, Artists Earning Over $1 Million Doubled in 5 Years
Spotify said on Wednesday that the company had crossed 500 million monthly active listeners as the company unveiled a "new re-imagined user interface" at its Stream On event. The service also said that the number of artists making over $1 million and over $10,000 had more than doubled in five years.
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Meta to Lay Off Thousands of Workers This Week in Fresh Round of Job Cuts to Meet Financial Targets: Report
Meta Platforms will cut thousands of jobs as soon as this week in a fresh round of layoffs, Bloomberg News reported on Monday, only a few months after the Facebook-parent reduced more than 11,000 people from its workforce.
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Robots Will Do 39 Per Cent Household Chores By 2033: Survey
The survey predicted that technology was expected to cut 60 per cent of the time we spend on grocery shopping.
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Google Parent Alphabet Posts Lower Q4 Profit Amid Increased Competition, Decline in Ad Spending
Alphabet on Thursday posted disappointing fourth-quarter profit and sales, short of estimates by Wall Street. The Google parent firm has seen advertising clients hold back on spending amid a slowing economy and concerns over consumer spending, while competition from rivals has seen an increase.
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Microsoft, Amazon, Other Tech Firms Cut Jobs at Second-Highest Pace on Record in US
Layoffs in the United States hit a more than two-year high in January as technology firms cut jobs at the second-highest pace on record to brace for a possible recession, a report showed on Thursday. The layoffs impacted 1,02,943 workers, a more than two-fold jump from December and an over five-times surge from a year earlier, according to the repo...
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Israeli Minister Plans Spending Cuts In 2025 Budget To Fund Gaza War
Israeli Finance Minister Bezalel Smotrich said on Tuesday the 2025 state budget will feature steep spending cuts as the government tries to balance fiscal responsibility with a need to finance Israel's ongoing war with Hamas in Gaza.
-
Milei Swears In As Argentina's President, Warns Of "Shock Treatment" For Economy
Argentina's President Javier Milei took office Sunday with a stark warning to citizens to brace themselves for painful austerity measures as he seeks to cut spending and curb triple-digit inflation, all with empty coffers.
-
US Faces Shutdown Risk Despite New Compromise Plan
The US still faces a risk of a government shutdown at the end of this week despite a new compromise plan by Speaker Mike Johnson that leaves out hardline conservative priorities like cutting spending and curtailing migration.
-
Infosys, TCS Cut Back On Hiring Due To Waning Demand For IT Services
India's top IT service providers are going slow on hiring as clients cut back spending and defer projects due to macroeconomic challenges, in a U-turn from the excesses of the past few years made in anticipation of further growth.
-
Qualcomm Predicts Q4 Sales Below Market Estimates Due to Macroeconomic Headwinds, Weaker Global Handset Units
Qualcomm has predicted that its fourth-quarter sales would fall below market estimates, as the California-based chipmaker deals with slowing global economic growth and consumer spending on smartphones remained weak. The firm also said that its forecast for the remainder of 2023 assumes no "material revenue" from Chinese smartphone maker Huawei.
-
Pakistan Aims To Generate Billions In New Taxes To Help Seal IMF Deal
Pakistan's government aims to generate an additional Pakistani rupees (Rs) 215 billion in taxes and cut spending by Rs 85 billion in the next fiscal year in order to seal International Monetary Fund (IMF) deal, Dawn reported.
-
Netflix Plans to Cut Spending by $300 Million; No Layoffs Expected: Report
Netflix plans to cut its spending by $300 million (nearly Rs. 2,465 crore) this year, the Wall Street Journal reported on Friday, citing people familiar with the matter. Company leaders urged staffers to be judicious with their spending, including in relation to hiring, but said there would be no hiring freeze or additional layoffs, according to t...
-
Accenture to Cut 19,000 Jobs Amid Concerns of Lower IT Spending Due to Global Economic Outlook
Accenture has announced it plans to cut about 2.5 percent of workforce, or 19,000 jobs, as the lowers its profit and revenue forecast for the year. The firm said more than 50 percent of the job cuts would affect staff at its non-billable corporate functions.
-
IT Services Firm Accenture To Cut 19,000 Jobs, Trims Profit Forecasts
Accenture Plc said on Thursday it would cut about 19,000 jobs and lowered its annual revenue and profit projections, the latest sign that the worsening global economic outlook was sapping corporate spending on IT services.
-
''Top Performers Were Let Go'': Meta Employee Laid Off On Maternity Leave
Meta Layoffs: A Meta employee has revealed that her maternity leave was cut short due to the layoffs, after spending three years at the company.
-
Spotify Monthly Active Users Cross 500 Million Mark, Artists Earning Over $1 Million Doubled in 5 Years
Spotify said on Wednesday that the company had crossed 500 million monthly active listeners as the company unveiled a "new re-imagined user interface" at its Stream On event. The service also said that the number of artists making over $1 million and over $10,000 had more than doubled in five years.
-
Meta to Lay Off Thousands of Workers This Week in Fresh Round of Job Cuts to Meet Financial Targets: Report
Meta Platforms will cut thousands of jobs as soon as this week in a fresh round of layoffs, Bloomberg News reported on Monday, only a few months after the Facebook-parent reduced more than 11,000 people from its workforce.
-
Robots Will Do 39 Per Cent Household Chores By 2033: Survey
The survey predicted that technology was expected to cut 60 per cent of the time we spend on grocery shopping.
-
Google Parent Alphabet Posts Lower Q4 Profit Amid Increased Competition, Decline in Ad Spending
Alphabet on Thursday posted disappointing fourth-quarter profit and sales, short of estimates by Wall Street. The Google parent firm has seen advertising clients hold back on spending amid a slowing economy and concerns over consumer spending, while competition from rivals has seen an increase.
-
Microsoft, Amazon, Other Tech Firms Cut Jobs at Second-Highest Pace on Record in US
Layoffs in the United States hit a more than two-year high in January as technology firms cut jobs at the second-highest pace on record to brace for a possible recession, a report showed on Thursday. The layoffs impacted 1,02,943 workers, a more than two-fold jump from December and an over five-times surge from a year earlier, according to the repo...
