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download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. The recent quip on Blind came from a worker at a large tech company commenting on word of more job cuts at Google. There's little doubt that for some tech workers, this gallows humor feels spot-on after waves of layoffs at some of the industry's biggest names — including Google, Microsoft, and Tesla. Elon Musk told staff last month that Tesla will lay off 10% of its workers. Advertisement"They think that their brand is bulletproof," Cascio said, referring to big-name tech companies.
Persons: , Elon Musk, Tesla, Sundar Pichai, Pichai, Sandra Sucher, Harvard Business School who's, Wayne Cascio, who's, Cascio, Rich Otto, he'd, Harvard's Sucher, Zers, Caroline Ogawa, Ogawa, That's, Gartner's Ogawa Organizations: Service, Google, Microsoft, Tesla, Business, Bloomberg, Harvard Business School, University of Colorado, LinkedIn, Gartner, Social Locations: University of Colorado Denver, Silicon
Speculation on the 'real reason' tech companies are shedding workersSome on TikTok and Reddit have posited that the "real reason" tech companies are cutting jobs is to tamp down fat salaries bloated by the Great Resignation. Tech companies scrambled to meet demand and went on a hiring binge during the pandemic. At a time when wages were climbing at the fastest pace in decades across the board, tech companies were especially generous to new hires — and even existing employees. A year and a half ago, compensation was a "completely different ball game," a former recruiter at Google told Insider. Will tech companies then try to hire back their workers at lower salaries?
The US labor market looks strong, and yet news about mass layoffs dominates the headlines. To be clear: Labor Department data shows that layoffs overall remain historically low and the latest jobs report shows growth is rock solid. But if the fear of losing your job hovers over you like a dark cloud, you're not alone. What people are doing is indicative of a strong economy. Are they operating in a way that's indicative of a strong economy?
Supreme Court Justice Alexandre de Moraes also ordered social media platforms Facebook, Twitter and TikTok to block coup-mongering propaganda. Tens of thousands of anti-democratic demonstrators on Sunday invaded the Supreme Court, Congress and the presidential palace and smashed windows, overturned furniture, destroyed art works and stole the country's original 1988 Constitution. The assault raised questions among Lula's allies about how public security forces in the capital were so unprepared and easily overwhelmed by rioters who had announced their plans days ahead on social media. Bolsonaro faces legal risks from several investigations before the Supreme Court in Brazil and his future in the United States, where he traveled on a visa issued only to sitting presidents, is in question. "The United States should not be a refuge for this authoritarian who has inspired domestic terrorism in Brazil.
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