• Latest
  • Trending
  • All

Another major company might soon fire thousands of employees as recession is becoming more likely next year

November 26, 2022
Law Enforcement Takes to the Rooftop for Special Olympics Fundraiser in Evansville

Law Enforcement Takes to the Rooftop for Special Olympics Fundraiser in Evansville

May 9, 2025
Evansville Man Among 205 Arrested in Nationwide Child Exploitation Crackdown

Evansville Man Among 205 Arrested in Nationwide Child Exploitation Crackdown

May 9, 2025
Court Denies Change of Venue Request for Man Charged in Murder of Evansville Firefighter

Court Denies Change of Venue Request for Man Charged in Murder of Evansville Firefighter

May 9, 2025
Evansville Vanderburgh School Corporation to Implement New Dress Code for Next School Year

Evansville Vanderburgh School Corporation to Implement New Dress Code for Next School Year

May 9, 2025
Semi Truck Collision Causes Major Traffic Disruptions on I-69 in Gibson County

Semi Truck Collision Causes Major Traffic Disruptions on I-69 in Gibson County

May 8, 2025
Evansville Superintendent Dr. David Smith Delivers Final State of the Schools Address Ahead of Retirement

Evansville Superintendent Dr. David Smith Delivers Final State of the Schools Address Ahead of Retirement

May 8, 2025
Evansville Prepares for Seventh Annual Sidewalk Sale on May 10

Evansville Prepares for Seventh Annual Sidewalk Sale on May 10

May 8, 2025
Burdette Park Prepares for Summer with Aquatic Center Opening

Burdette Park Prepares for Summer with Aquatic Center Opening

May 8, 2025
Free Self-Defense Class for Women in Spencer County

Free Self-Defense Class for Women in Spencer County

May 7, 2025
Dream Center of Evansville Announces Departure of Executive Director Jeremy Evans

Dream Center of Evansville Announces Departure of Executive Director Jeremy Evans

May 7, 2025
Evansville to Transition Ambulance Services to Fire Department

Evansville to Transition Ambulance Services to Fire Department

May 7, 2025
Dr. David Smith Delivers Final State of the Schools Address Before Retirement

Dr. David Smith Delivers Final State of the Schools Address Before Retirement

May 7, 2025
  • Home
  • Contact
  • About us
  • Privacy policy
Sunday, May 11, 2025
No Result
View All Result
Evansville Report
  • Home
  • Local News
    Evansville Man Among 205 Arrested in Nationwide Child Exploitation Crackdown

    Evansville Man Among 205 Arrested in Nationwide Child Exploitation Crackdown

    Evansville Vanderburgh School Corporation to Implement New Dress Code for Next School Year

    Evansville Vanderburgh School Corporation to Implement New Dress Code for Next School Year

    Semi Truck Collision Causes Major Traffic Disruptions on I-69 in Gibson County

    Semi Truck Collision Causes Major Traffic Disruptions on I-69 in Gibson County

    Evansville Superintendent Dr. David Smith Delivers Final State of the Schools Address Ahead of Retirement

    Evansville Superintendent Dr. David Smith Delivers Final State of the Schools Address Ahead of Retirement

    Burdette Park Prepares for Summer with Aquatic Center Opening

    Burdette Park Prepares for Summer with Aquatic Center Opening

    Evansville to Transition Ambulance Services to Fire Department

    Evansville to Transition Ambulance Services to Fire Department

    Dr. David Smith Delivers Final State of the Schools Address Before Retirement

    Dr. David Smith Delivers Final State of the Schools Address Before Retirement

    Former Evansville Fire Chief Sues City Over Unpaid Compensation Amid Criminal Charges

    Former Evansville Fire Chief Sues City Over Unpaid Compensation Amid Criminal Charges

    Fire Breaks Out at Silgan Closures Manufacturing Plant in Evansville

    Fire Breaks Out at Silgan Closures Manufacturing Plant in Evansville

    Body Found in Pigeon Creek Identified as Evansville Man

    Body Found in Pigeon Creek Identified as Evansville Man

  • Indiana
    Indiana Governor Mike Braun Orders Flags to Be Flown at Half-Staff in Honor of Pope Francis

    Indiana Governor Mike Braun Orders Flags to Be Flown at Half-Staff in Honor of Pope Francis

    Indiana House Passes Property Tax Relief Bill with Local Income Tax Provision

    Indiana House Passes Property Tax Relief Bill with Local Income Tax Provision

    Indiana Reports First Measles Case of 2025 in Allen County

    Indiana Reports First Measles Case of 2025 in Allen County

    Travel Disruptions on I-69 in Indiana and Kentucky Due to High Water

    Travel Disruptions on I-69 in Indiana and Kentucky Due to High Water

    Steven J. Bridges Appointed President of University of Southern Indiana

    Steven J. Bridges Appointed President of University of Southern Indiana

    Indiana Launches Traffic Safety Campaign to Combat Distracted Driving and Speeding

    Indiana Launches Traffic Safety Campaign to Combat Distracted Driving and Speeding

    Severe Weather Prompts CenterPoint Energy to Prepare for Potential Power Outages in Southwestern Indiana

    Severe Weather Prompts CenterPoint Energy to Prepare for Potential Power Outages in Southwestern Indiana

    Indiana Attorney General Sues Jasper Travel Company for Fraudulent Timeshare Scheme

    Indiana Attorney General Sues Jasper Travel Company for Fraudulent Timeshare Scheme

    Indiana to Hold Statewide Tornado Drill on March 11, 2025

    Indiana to Hold Statewide Tornado Drill on March 11, 2025

    Indiana Governor Mike Braun Opposes Hoosier National Forest Restoration Project

    Indiana Governor Mike Braun Opposes Hoosier National Forest Restoration Project

  • Crime & Safety
    Court Denies Change of Venue Request for Man Charged in Murder of Evansville Firefighter

    Court Denies Change of Venue Request for Man Charged in Murder of Evansville Firefighter

    Teacher Arrested in Evansville on Multiple Charges Involving a Minor

    Teacher Arrested in Evansville on Multiple Charges Involving a Minor

    Evansville Police Officer Arrested After Off-Duty Incident at FOP Celebration

    Evansville Police Officer Arrested After Off-Duty Incident at FOP Celebration

    Evansville Man Arrested After Assaulting Woman, Attempting to Disarm Officer

    Evansville Man Arrested After Assaulting Woman, Attempting to Disarm Officer

    Man Charged with Voyeurism After Allegedly Filming Walmart Restroom Incident

    Man Charged with Voyeurism After Allegedly Filming Walmart Restroom Incident

    Two Arrested in Drug Bust in Evansville Following Joint DEA Investigation

    Two Arrested in Drug Bust in Evansville Following Joint DEA Investigation

    Evansville Teacher and Track Coach Faces Multiple Felony Charges in Alleged Seduction of Teenager

    Evansville Teacher and Track Coach Faces Multiple Felony Charges in Alleged Seduction of Teenager

    Woman Arrested for Reckless Driving in Evansville Construction Zone

    Woman Arrested for Reckless Driving in Evansville Construction Zone

    Evansville Police Investigate Firework Incident at Elderly Woman’s Home

    Evansville Police Investigate Firework Incident at Elderly Woman’s Home

    Evansville Police Investigating Firework Incident Mistaken for Bomb Attack

    Evansville Police Investigating Firework Incident Mistaken for Bomb Attack

  • Covid-19

    75 COVID-19 deaths, 5,900 more cases of coronavirus reported in Indiana in 2 weeks

    84 Deaths from COVID-19 and 6,911 more coronavirus cases reported in Indiana in 2 weeks

    86 COVID-19 deaths, 8,897 more cases of coronavirus reported in Indiana in 2 weeks

    88 COVID-19 deaths, 9,266 more cases of coronavirus in 2 weeks reported in Indiana

    55 COVID-19 deaths, 4,031 more cases of coronavirus reported in Indiana

    73 COVID-19 deaths, 2,960 more cases of coronavirus reported in Indiana

    80 COVID-19 deaths, 7,414 more cases reported in Indiana

    72 COVID-19 deaths, 6,507 new cases reported in Indiana

    7,790 new COVID-19 cases, 15 deaths reported in Indiana

    7,441 new COVID-19 cases, 22 deaths reported in Indiana

  • U. S. News

    California’s Democratic Senators propose new tax plan for businesses

    Navarro College faces lawsuit over alleged sexual assault

    North Texas school districts collaborate to hire more teachers

    Dallas Craigslist: A Valuable Resource for Job Seekers in the Dallas Area

    Dallas’ Litter Removal Team: A promising solution for a growing problem

    Texas Baptist Men mobilizes thousands of volunteers to meet urgent needs

    Abandoned vehicle at DFW Airport linked to missing disabled Texas boy

    Neurology & Neuromuscular Care Center helps Duchenne patients access specialized care

    Popular company laid off thousands of employees without severance overnight, leaving them without health insurance just before the holiday weekend

    Bad economic picture throughout the country did not affect the shopping habit as consumers broke another record in online purchases

  • Lifestyle

    Popular budget airline gets rid of telephone customer support service to cut expenses and ‘serve customers more efficiently’

    Study indicates that consumption of ultra-processed foods contributes to premature death

    Americans are moving to Mexico at unseen rates so far and the trend is expected to continue in the future

    Study showed eating almonds before meals contributes to appetite control and reduces food intake

    Proper nutrition contributes to good health, with honey most effective in reducing high cholesterol and blood sugar levels, study shows

    Indianapolis local non-profit organizations helping elderly people in need

    Park Series returning in Noblesville, movies starting August

    Fourth of July is just less than a week from now, this is where you can celebrate in Central Indiana

    Shake Shack opens second location in town, another brand confirms store opening

    Indy PopCon convention to take place July 9-11, hosts announce guests

  • Sports
    Hoosier Army eliminated from The Soccer Tournament by Newtown Pride FC 3-1

    Hoosier Army eliminated from The Soccer Tournament by Newtown Pride FC 3-1

    Indiana’s Race Thompson set to compete in Portsmouth Invitational Tournament

    No. 4 Indiana women defeat Nebraska in overtime after Holmes scores 22 points

    Vikings beat Colts 39-36

    Indiana’s top player pulls out of NBA draft, will return next season

    Limited tickets available to watch NFL Scouting Combine at Lucas Oil Stadium

    Indiana adds defensive lineman, running back with transfers

    Brissett has career-high 31 as Pacers beat Raptors 125-113

    Web Extra: What to Watch for in Saturday’s IndyCar Grand Prix

    Roncalli flamethrower too hot for Stars in Edgewood Invitational

No Result
View All Result
Evansville Report
No Result
View All Result
Home U. S. News

Another major company might soon fire thousands of employees as recession is becoming more likely next year

by Andy McDowell
November 26, 2022
in U. S. News
0

Record high inflation rates and skyrocketing prices since the start of the year prompted the Federal Reserve to aggressively increase interest rates in an effort to combat increasing prices. While finance and economy experts agree that increasing interest rates is the best solution to get inflation under control, the main worry for economists is that the Fed raises interest rates too quickly and dampens demand too much, stalling the economy. If policymakers really overshoot on rate hikes, it could push the economy into a recession, halting and reversing the progress it has made so far.

Some of the largest and most successful tech companies have already started firing thousands of employees, and many others are expected to follow as America is almost certainly headed into a recession that experts believe is likely to take place some time next year. And it’s not just tech companies. High interest rates and a slowing economy hurt other industries as well, which is likely to lead to layoffs in the long run.

Meta is one of the first companies to fire thousands of workers at once. Earlier this year, Mark Zuckerberg announced that he decided to reduce Meta’s team, previously known as Facebook, by about 13% and let more than 11,000 of the company’s employees go. The announcement came just two months after Meta said that a total of 87,314 people had been part of the company in September, the highest number since Facebook was founded in 2004.

Amazon recently announced in a blog post its plans to lay off 10,000 employees, representing 3% of its white-collar professionals in corporate and technology roles. The cuts will primarily focus on money-draining units, such as Amazon voice-assistant Alexa and ebook-reader Kindle. According to the Times, this would be the largest job cut in the company’s history. What is even more concerning is the fact that Amazon also plans to reduce its HR team, which means that hiring will slow down compared to the aggressive staffing that took place over the last several years.

Now that it’s obvious that the economy is slowing down, other companies are also expected to cut back on expenses. In recent months, Google executives have been working on reducing expenses and trying to make the company 20% more efficient. The combination of a potential recession, soaring inflation, and rising interest rates is having a clear impact, however.

Alphabet, Google’s parent company, last month announced that YouTube’s ad revenue shrank from a year earlier, and top executives confirmed that the declining trend is expected to continue in the upcoming period. Since Google’s revenue is mostly generated by advertising, one need not be an expert to conclude that Google will also feel the negative impact in the upcoming months now that we know that YouTube’s ad revenue is down.

Google’s business hasn’t been hit as hard as many of its peers so far, and Google hasn’t announced Meta-like layoffs, but employees are feeling the pressure and are becoming more concerned that huge layoffs might be on the horizon since the company already decided to shut down its gaming service Stadia and the development of the next generation of its Pixelbook laptop was cancelled. Concerns grow even more, having in mind that the revenue from advertising will decline over time.

Google has been rapidly growing in recent years, but that is about to change, at least for now when recession is just around the corner. Google’s CEO, Sundar Pichai, said in September that the company is working hard to cut expenses, but top executives didn’t rule out layoffs as a potential solution.

Earlier this week, employees were faced with even more anxiety after the company suffered an internal outage, leaving many unable to log into their Gmail accounts and other necessary work tools. Google employees, however, still had access to Memegen, and used the platform to express their discontent.

Although Google has been doing much better compared to other major companies so far and ad revenue might slightly increase during the holiday period, it won’t be a surprise if we see a Google announcement about laying off thousands of employees as soon as early next year.

Tags: featured
Andy McDowell

Andy McDowell

Related Posts

California’s Democratic Senators propose new tax plan for businesses

by Andy McDowell
May 1, 2023
0

California’s Democratic Senators have recently proposed a tax plan that aims to levy higher taxes on some of the largest...

Navarro College faces lawsuit over alleged sexual assault

by Logan Paulson
April 28, 2023
0

Navarro College, located in the heart of Texas, is facing yet another sexual assault lawsuit. This time, a former cheerleader...

North Texas school districts collaborate to hire more teachers

by Logan Paulson
April 11, 2023
0

The Bureau of Labor Statistics has recently released a report indicating that the Dallas-Fort Worth-Arlington area has experienced a slight...

Dallas Craigslist: A Valuable Resource for Job Seekers in the Dallas Area

by Albert Mondo
April 10, 2023
0

Craigslist, an online platform known for its broad range of job opportunities, has become a cornerstone for job seekers in...

Law Enforcement Takes to the Rooftop for Special Olympics Fundraiser in Evansville
Community

Law Enforcement Takes to the Rooftop for Special Olympics Fundraiser in Evansville

by Monica Ruth
May 9, 2025
0

Evansville, Ind. – On Friday, May 16, the Vanderburgh County Sheriff’s Office will host the 11th Annual “Cop on a...

Read moreDetails
Evansville Man Among 205 Arrested in Nationwide Child Exploitation Crackdown

Evansville Man Among 205 Arrested in Nationwide Child Exploitation Crackdown

May 9, 2025
Court Denies Change of Venue Request for Man Charged in Murder of Evansville Firefighter

Court Denies Change of Venue Request for Man Charged in Murder of Evansville Firefighter

May 9, 2025
Evansville Vanderburgh School Corporation to Implement New Dress Code for Next School Year

Evansville Vanderburgh School Corporation to Implement New Dress Code for Next School Year

May 9, 2025
Semi Truck Collision Causes Major Traffic Disruptions on I-69 in Gibson County

Semi Truck Collision Causes Major Traffic Disruptions on I-69 in Gibson County

May 8, 2025
Law Enforcement Takes to the Rooftop for Special Olympics Fundraiser in Evansville

Law Enforcement Takes to the Rooftop for Special Olympics Fundraiser in Evansville

May 9, 2025

Evansville Man Among 205 Arrested in Nationwide Child Exploitation Crackdown

May 9, 2025

Court Denies Change of Venue Request for Man Charged in Murder of Evansville Firefighter

May 9, 2025

Evansville Vanderburgh School Corporation to Implement New Dress Code for Next School Year

May 9, 2025

Semi Truck Collision Causes Major Traffic Disruptions on I-69 in Gibson County

May 8, 2025

Evansville Superintendent Dr. David Smith Delivers Final State of the Schools Address Ahead of Retirement

May 8, 2025
Evansville Report

Copyright © 2023 Evansville Report.

Navigate Site

  • Home
  • Contact
  • About us
  • Privacy policy

Follow Us

No Result
View All Result
  • Home
  • Local News
  • Indiana
  • Crime & Safety
  • Covid-19
  • U. S. News
  • Lifestyle
  • Sports

Copyright © 2023 Evansville Report.