The news: Big Tech companies Google, Meta, and Apple completed quarterly earnings calls last week with their CEOs warning of headwinds and looming slowdowns in the US economy.
Tech CEOs weigh in: The earnings calls revealed tech monoliths are hunkering down in the face of inflation, COVID-19 closures in China, and the effects of Russia’s Ukraine invasion on business. All are casting a pall of uncertainty.
What’s next? Big Tech will continue to weather the economic downturn, but there’s growing concern for many that pandemic-era consumer spending is slowing down considerably. This will result in reduced investments, hiring freezes, and even layoffs as Big Tech scrambles to adjust.
One Liberty Plaza9th FloorNew York, NY 100061-800-405-0844