‘Outright negative’ on stocks: JPMorgan’s Marko Kolanovic braces for correction, hard landing

JPMorgan’s Marko Kolanovic is abstaining from the early 2023 rally. Instead, the Institutional Investor hall-of-famer is bracing for a 10% or more correction in the first half of this year, telling investors he’s “outright negative” on the market. “Fundamentals are deteriorating. And, the market has been moving up. So, that has to clash at some … Read more

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Swiggy To Lay Off 380 Employees, Cites Slowdown In Growth

Swiggy cited slowdown in growth of its food delivery business as a reason for the lay-offs. (File) Bengaluru: Indian food delivery firm Swiggy on Friday said it will lay off 380 employees, citing challenging macroeconomic conditions and slowdown in growth of its food delivery business, according to an internal document seen by Reuters. (Except for the headline, … Read more

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Microsoft, Amazon and other tech companies have laid off more than 60,000 employees in the last year

Microsoft CEO Satya Nadella speaks at the company’s Ignite Spotlight event in Seoul on Nov. 15, 2022. SeongJoon Cho | Bloomberg | Getty Images The job cuts in tech land are piling up, as companies that led the 10-year bull market adapt to a new reality. Microsoft said Wednesday that it’s letting go of 10,000 employees, … Read more

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Amazon set to begin new round of layoffs affecting more than 18,000 people

The Amazon Spheres, part of the Amazon headquarters campus, right, in the South Lake Union neighborhood of Seattle, Washington, U.S., on Sunday, Oct. 24, 2021. Chona Kasinger | Bloomberg | Getty Images Amazon on Wednesday will begin a fresh round of job cuts in what’s expected to become the largest workforce cuts in its 28-year … Read more

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Don’t forget about your old 401(k) if you quit a job or are laid off. What departing workers need to know

Peopleimages | Istock | Getty Images Whether you’re leaving your job by choice or not, don’t forget about your 401(k) plan. As workers continue quitting their jobs at an elevated rate and some companies embark on layoffs — including Amazon, Salesforce and Goldman Sachs — there’s a good chance some departing workers will be leaving … Read more

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Crypto.com lays off 20% of workforce after FTX collapse blunted ambitious growth

The exterior of Crypto.com Arena on January 26, 2022 in Los Angeles, California. Rich Fury | Getty Images Crypto.com announced Friday that it’s laying off 20% of its workforce. CEO Kris Marszalek said in a blog post that the crypto exchange grew “ambitiously” but was unable to weather the collapse of Sam Bankman-Fried’s crypto empire … Read more

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