in

Apple CEO Tim Cook Takes a Huge Pay Cut

Elon Musk-Apple War Heats Up

Times are tough in tech. 

The sector was wiped out on the stock market last year as fears about the health of the economy intensified and the covid-19 pandemic took off again in China. That’s where the factories of many tech groups are located. 

In response to the economic worries, the tech groups slashed their costs, including waves of job cuts. Meta Platforms  (META) – Get Free Report, for example, cut 11,000 jobs, a first since the social-networking giant started up in 2004. E-commerce giant Amazon  (AMZN) – Get Free Report said it would eliminate more than 18,000 jobs.

Written by biedex markets