News Forum - Google announces 12,000 layoffs amid new “economic reality”

[Thaiger]

Google is cutting 12,000 jobs globally its parent company, Alphabet, announced yesterday. Like other tech titans in recent weeks, Google is laying off workers as it embarks on some large-scale restructuring. The announcement follows similar layoffs by other tech giants such as Microsoft, Meta (parent company of Facebook, Instagram, and WhatsApp), Amazon and Twitter, as …

The story Google announces 12,000 layoffs amid new “economic reality” as seen on Thaiger News.

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[Grumpish]

The new economic reality is that the global economy is broken. Pure "devil take the hindmost" capitalism has reached it's limits, and "we are going to run out of other people's money to spend" socialism doesn't work either.  New economic models are needed, ones that don't rely on constant growth, and ones that don't encourage skewed service based economies. The solution? I don't  know, but it is unlikely to be painless. 

[Fanta]

21 hours ago, Thaiger said:

“economic reality“

We aren’t allowed to use the word “recession” any more? 

[Manu]

4 hours ago, Grumpish said:

The new economic reality is that the global economy is broken.

The "new economic reality" is not broken for everyone...

https://www.investopedia.com/financial-edge/1212/average-net-worth-of-the-1.aspx

[palooka]

Ahhh we now have "new economic reality".

Does this possibly include other oddities like Futures contacts, EFTs and their new friend Crypto currencies, Online Gaming that you cannot possibly win anything? (One Oz lady financially screwed her employer for a large sum to play online games where the prize was fantasy.)