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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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