Big Tech firms and Wall Street titans are leading a string of layoffs across corporate America as companies look to rein in costs to ride out the economic downturn. Rapid interest rate hikes, weak consumer demand and an economic slowdown in China have forced firms such as Amazon, Walt Disney, Facebook-owner Meta and American banks […]
Lyft
Meta Platforms Inc on Wednesday became the latest U.S. company to cut jobs to rein in costs amid tightening monetary policy and growing fears of a recession. Job cuts announced by U.S.-based employers jumped 13 percent to 33,843 in October, the highest since February 2021, a report said. Here are some of the major job […]
Uber Technologies Inc on Tuesday forecast fourth-quarter operating profit above Wall Street estimates, betting on cost controls and rising demand for its rides as customers resume spending more on travel, sending its shares up 15 percent. With cities reopening and travel booming, consumers are shifting their budgets to services, Chief Executive Dara Khosrowshahi said, compared […]
Lyft Inc closed 2021 with its first full-year adjusted profit as customers eager to step out and travel paid a record amount for trips during the fourth quarter and more drivers returned to work, the ride-hailing company said on Tuesday. Shares were down 3 percent in after-hours trading after Lyft missed Wall Street expectations for […]