Connect with us
https://tickernews.co/wp-content/uploads/2023/10/AmEx-Thought-Leaders.jpg

Money

Widespread tech layoffs not representative of broader labour market

Published

1 year ago

on

Widespread tech layoffs continue, but Morgan Stanley says they’re not representative of the broader labour market

As widespread tech layoffs continue, some analysts are predicting the broader labour pool will be ok.

Meta, Amazon and Twitter are just a few of the many tech-based companies that have shown thousands of employees the door over recent weeks.

The massive staff cuts are happening at rates not seen since the early days of the Covid pandemic.

But despite this, analysts at Morgan Stanley analysts say the broader labor pool is not in danger – at least, not yet.

They believe the large market cap of tech firms coupled with excessive hiring is resulting in the sector’s recent layoffs.

It’s also important to note that layoffs since December 2020 equate to 187,000.

While this is a sizeable figure in itself, it’s also barely more than 0.1% of total U.S. payrolls.

Regardless, Morgan Stanley still anticipates a “sharp” drop-off in employment growth, citing slower consumer demand as a trigger for hiring cutbacks across most sectors.

For senior executives at broader markets, Morgan Stanley says “it is important for companies to evaluate how to better manage cash flow” as they adjust to a “slower ’23 world.”

 

Related Topics:

William is an Executive News Producer at TICKER NEWS, responsible for the production and direction of news bulletins. William is also the presenter of the hourly Weather + Climate segment. With qualifications in Journalism and Law (LLB), William previously worked at the Australian Broadcasting Corporation (ABC) before moving to TICKER NEWS. He was also an intern at the Seven Network's 'Sunrise'. A creative-minded individual, William has a passion for broadcast journalism and reporting on global politics and international affairs.

Continue Reading

Money

Why the meme-stock frenzy is unlikely to repeat

Published

5 days ago

on

May 14, 2024

By

GME shares surge 74%, but experts stress a meme-stock frenzy resurgence is unlikely due to fundamental differences in the company’s financial situation.

Australia’s budget unveils a second consecutive surplus of A$9.3 billion, prioritising the critical minerals industry and green energy initiatives to reduce reliance on Chinese supply.

Also, GameStop shares have surged 74%, but experts caution against expecting a repeat of the 2021 meme-stock frenzy. #featured #trending

Continue Reading

Money

Why are airlines after the Biden Administration?

Published

6 days ago

on

May 14, 2024

By

Major airlines are taking legal action against the Biden administration over a newly implemented rule requiring them to disclose fees upfront.

On this episode of Hot Shots – Major airlines are suing the Biden Administration, AI-piloted fighter jets, SpaceX faces funding challenges, and Apple receives crushing feedback.

Ticker’s Ahron Young & Veronica Dudo discuss. #featured #trending

Continue Reading

Money

The mounting pressure on Government spends

Published

6 days ago

on

May 13, 2024

By

Questions abound regarding the factors fueling this inflation surge in Australia and whether it correlates with the escalating government expenditures.

Concerns extend to how Chalmers navigates the mounting pressure amid discrepancies in spending allocations.

Moreover, as Australians grapple with the reality of rising living costs, the feasibility of cutting spending becomes a pressing issue. Additionally, amidst economic uncertainties, individuals seek guidance on managing stock market risks effectively. #Featured #Trending

Continue Reading

Trending Now