[Pearls Before Swine]

Google stock was up 6% today. Go figure.

[SeekAndFind]

I wrote this about Microsoft’s layoffs. I haven’t looked at Google’s hiring figures for 2021 and 2022 but I believe the situation is the same as Microsoft’s.

Here’s Why laying off 10,000 workers at Microsoft is almost meaningless.

You can see in just 1 year, Microsoft hired 40,000 workers in 2022 (Goodness, how do you hire 40,000 people in just 1 year? That means employees just spent time interviewing and not working in 2022).

So, cutting 10,000 is meaningless as Microsoft will probably cut another 10,000 by end of summer 2023.

Notice each year prior from 2019, 2020, Microsoft only hired 20,000 each year. So, hiring 40,000 people in just 1 year is an outlier and points to the company over hiring by 20,000.

I suspect the same issue applies to Google and the other big tech firms.

[pepsi_junkie]

Google stock was up 6% today.

Sell on the rumor, buy on the news.

[bankwalker]

less employees = lower expenses = more profit