Tag: cutbacks

US layoffs reach 14-month high amid government, tech cutbacks

By Amina Niasse NEW YORK (Reuters) – U.S. layoff announcements rose 7% in March to the highest since January 2023, led by technology and government-sector job eliminations, though cuts announced year to date are down 5% from a year ago amid a still-strong job market, a report out on Thursday showed. Job cut announcements increased […]

Nokia sales and profit drop as economic challenges lead to investment cutbacks

Nokia has reported a double-digit decline in sales and a fall in profit in the last three months of 2023, with the wireless and fixed-network equipment maker saying operators are cutting back on investments into 5G and other technology because of economic uncertainty. The Espoo, Finland-based company reported net profit of 568 million euros (£485 […]