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20,000 job cuts at Meta, Microsoft raise concern that AI-driven labor crisis is here [CNBC]

Microsoft Corporation (MSFT)  More Company Research Source: CNBC
Last microsoft corporation earnings: 4/29 04:06 pm Check Earnings Report
US:NASDAQ Investor Relations: microsoft.com/en-us/investor
Meta said on Thursday that it's cutting 10% of its workforce, just as Microsoft announced that it's offering employee buyouts for the first time in its 51-year history. “This represents a fundamental structural shift rather than a temporary market correction,” said Anthony Tuggle, an executive coach and leadership expert. In this article The more than 20,000 potential job cuts Meta and Microsoft revealed on Thursday, months after Amazon announced its most widespread layoffs ever, may only be the beginning. The same companies that are collectively spending hundreds of billions of dollars a year to build out artificial intelligence infrastructure to meet soaring demand for AI services are seeking efficiencies from AI by slashing headcount. They're also still trying to rightsize from the pandemic-fueled overhiring. Many economists and industry experts are fearful that a labor crisis may be upon us today — not coming sometime in the future — given how quickly AI is sweeping acr [Read more]
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Stockreport

20,000 job cuts at Meta, Microsoft raise concern that AI-driven labor crisis is here [CNBC]

Microsoft Corporation  (MSFT) 
More Company Research Source: CNBC
Last microsoft corporation earnings: 4/29 04:06 pm Check Earnings Report
US:NASDAQ Investor Relations: microsoft.com/en-us/investor
Meta said on Thursday that it's cutting 10% of its workforce, just as Microsoft announced that it's offering employee buyouts for the first time in its 51-year history. “This represents a fundamental structural shift rather than a temporary market correction,” said Anthony Tuggle, an executive coach and leadership expert. In this article The more than 20,000 potential job cuts Meta and Microsoft revealed on Thursday, months after Amazon announced its most widespread layoffs ever, may only be the beginning. The same companies that are collectively spending hundreds of billions of dollars a year to build out artificial intelligence infrastructure to meet soaring demand for AI services are seeking efficiencies from AI by slashing headcount. They're also still trying to rightsize from the pandemic-fueled overhiring. Many economists and industry experts are fearful that a labor crisis may be upon us today — not coming sometime in the future — given how quickly AI is sweeping acr [Read more]
IMPACT SNAPSHOT
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MSFT
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Price Change %
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%
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Performance comparison Updated
EVENT DAY
Stock performance from the time of news release until the following 4pm ET market close
LAST PRICE AT
NEWS EVENT
SINCE EVENT
Multi-day stock performance from the time of the news release
LAST PRICE
VWAP
High:
MAX UP
High:
Low:
MAX DOWN
Low:
%
 POST NEWS RANGE
%
PRICE CHANGE
PRICE CHANGE PERCENTAGE
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%
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%
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TICKS
AVG SHARES PER TRADE
EVENT DAY
Event Day Chart will not be displayed beyond 90-day period of the event
PERFORMANCE SINCE EVENT
TIME AND VELOCITY ANALYSIS