Amazon and Meta's 48,000 job cuts usher in Big Tech's new mantra: Revenue per employee
All told, the two firms have cut 48,000 jobs across two waves of layoffs in less than six months.The rationale is that these firms over-hired during the pandemic and need to readjust to a high-interest rate economy that makes fighting for every dollar harder. Squeezing revenue dollars out of every employee
"You'll hear revenue per employee again, in tech, no one was looking at these metrics at least in the private world, the VC world for at least five years," he said. The last time numbers like this were truly in vogue was in the aftermath of the 2008 financial crisis. A Amazon currently makes a ton of money. Its most recent earnings showed sales of $142.2 billion for the final three months of 2022, a figure that comfortably beat analyst expectations.
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