Reversing Covid-era excesses: Big Tech braces for more sackings, dismal profits

Large US technology firms expected to announce layoffs, cut costs through the next few months, say

Keen to buttress margins and appease investor concerns at a time of slowing sales growth, big US technology firms are expected to whittle away at their bloated workforce and costs through the next few months, reversing pandemic-era excesses, analysts said.

Each of America's five largest tech companies, though, are expected to report a fall in profits for the October-December period, as they try to recalibrate in a high-interest environment. Facebook-owner Meta Platforms and Amazon.com are expected to report the biggest declines.