Factbox-From Tesla to Peloton, companies slow hiring as economy sputters -Breaking
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© Reuters. FILE PHOTO: A Peloton emblem is pictured on an indication exterior a retailer within the Manhattan borough of New York Metropolis, U.S., January 25, 2022. REUTERS/Carlo Allegri
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(Reuters) – Elon Musk spooked buyers on Friday with a warning on the economic system and plans to chop Tesla (NASDAQ:)’s workforce, becoming a member of a rising checklist of U.S. corporations which have dialed again hiring amid decades-high inflation and fallout from the Ukraine disaster.
The billionaire mentioned he has a “tremendous unhealthy feeling” concerning the economic system and that the electrical carmaker must axe about 10% of its workforce, in keeping with an inner electronic mail seen by Reuters.
Following is an inventory of another U.S. corporations which have introduced layoffs or frozen hiring to rein in prices:
COMPANIES COMMENTS
Meta Fb (NASDAQ:) dad or mum Meta mentioned in Could it’ll sluggish the expansion of its workforce
Platforms Inc
Coinbase (NASDAQ:) Coinbase will prolong its hiring freeze for the foreseeable future and rescind
World Inc numerous accepted gives to take care of present macroeconomic situations
Twitter Inc (NYSE:) CEO Parag Agrawal mentioned in a memo that the social media firm will pause
hiring and overview current job gives to find out whether or not any “ought to be
pulled again”
Peloton (NASDAQ:) Peloton in February mentioned it’ll lower about 2,800 company jobs because it appears to be like to
Interactive revitalize sagging gross sales
Inc
Snap Inc (NYSE:) CEO Evan Spiegel in Could instructed staff the corporate will sluggish hiring for this
12 months
Netflix (NASDAQ:) Netflix in Could mentioned it has laid off about 150 individuals, largely within the U.S., as
the streaming service firm faces slowing development
Carvana Co (NYSE:) Carvana mentioned it’ll lay off about 2,500 staff, or 12% of its workforce
Robinhood (NASDAQ:) The retail buying and selling platform mentioned in April it’s shedding about 9% of its
Markets Inc full-time staff
Uber (NYSE:) Uber will cut back hiring and scale back expenditure on its advertising and marketing and
Applied sciences incentive actions, Reuters reported in Could, citing a letter from the CEO
Inc
Lyft Inc (NASDAQ:) The corporate mentioned in Could it’ll decelerate hiring and assess funds cuts in
some departments
Supply:- Regulatory filings, Reuters tales, firm web sites
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