German software giant SAP to cut 3,000 jobs
German software giant SAP on Thursday said it planned to cut some 3,000 jobs this year, joining a wave of layoffs in the global tech sector.
Jan 26, 2023
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11
Business
News tagged with economic downturn
Business
Uber not planning layoffs: CEO
Ride-hailing giant Uber is not planning any company-wide layoffs, the US firm's boss said Thursday, bucking the downsizing trend in the tech sector.
Jan 19, 2023
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5
Automotive
Tesla slashes vehicle prices up to 20% in US, Europe
Tesla on Friday announced it will cut the price of its best-selling electric vehicle models up to 20 percent in Europe and the United States, launching a price war as more rivals hit the market.
Jan 13, 2023
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17
Business
BuzzFeed cuts 12% of staff citing worsening econ conditions
Digital media company BuzzFeed is cutting 12% of its workforce, citing worsening economic conditions.
Dec 6, 2022
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0
Business
Report: Amazon freezes hiring on corporate retail division
Amazon is implementing a hiring freeze on the corporate side of its retail business for the rest of the year, according to a New York Times report, becoming the latest company to pause hiring plans amid growing concerns about ...
Oct 5, 2022
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35
Business
As tech giants face a financial downturn, some new players are focusing on people over profit
The tech industry has been rocked by recent economic woes. While once thought of as close to recession proof, companies from Netflix to Meta are suddenly experiencing serious financial setbacks. As the Washington Post reported ...
Aug 2, 2022
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20
Business
Air traffic control funding model ravaged by pandemic as industry struggles to recover
Commercial aviation is critical to the global economy. In 2019, it supported more than 65 million jobs and had a global economic impact of US$2.7 trillion. The COVID-19 pandemic has been unlike any crisis, both in terms of ...
Jul 1, 2022
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46
Business
Economic downturn fueling Argentine crypto craze
Argentina's economic downturn, with high inflation, a deflating currency and a shortage of US dollars to invest in, has in fact proved a shot in the arm for one sector: cryptocurrency.
May 4, 2021
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6
Business
Emirates could take 4 years to return to normal: chief
It could take up to four years for Emirates airline's operations to return "to some degree of normality", its president said Monday, a day after the carrier announced job cuts over the coronavirus crisis.
Jun 1, 2020
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7
Business
Hungarian airline Wizz Air scraps 1,000 jobs
Hungarian budget airline Wizz Air said on Tuesday it is cutting 1,000 jobs and cutting salaries for the remaining staff as it struggles to cope with Europe's coronavirus lockdown.
Apr 14, 2020
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0
Recession
In economics, a recession is a general slowdown in economic activity over a sustained period of time, or a business cycle contraction. During recessions, many macroeconomic indicators vary in a similar way. Production as measured by Gross Domestic Product (GDP), employment, investment spending, capacity utilization, household incomes and business profits all fall during recessions.
Governments usually respond to recessions by adopting expansionary macroeconomic policies, such as increasing money supply, increasing government spending and decreasing taxation.
This text uses material from Wikipedia, licensed under CC BY-SA
