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231. Paris Syndrome

This Machine Kills

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Big Tech Group Discloses $10 Billion in Charges From Job Calls and Cost Cutting

Amazon, Meta, Alphabet and Microsoft will collectively incur more than $10 billion in charges related to mass redundancies. The four groups had previously announced 50,000 job cuts to convince Wall Street they were heading into a quote unquote year of efficiency as Meta Chief Executive Mark Zuckerberg described it. Despite the company's high upfront costs such as severance payments, investors appear encouraged by the steps taken since formally announcing their cuts. They have together added more than $800 billion to their market capitalizations.

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