The world’s largest tech giants aren’t exactly strapped for cash. But with a potential recession looming, even those with the deepest pockets have a strong motivation to watch their bills.
Microsoft Amazon.com and the parent companies of Google and Facebook are all pulling back on their pace of hiring, while Microsoft has even started laying off a small number of workers. Apple may be joining the club as well; Bloomberg reported Monday that the iPhone maker is planning to slow hiring and spending growth next year. The news sent Apple’s share price down more than 2% by Monday’s close and weighed on the rest of the market.
