The Week in Numbers: big tech shrinks
STORY: From more job cuts at big tech, to a big exit at Netflix, this is the Week in Numbers. First up…
12,000 is how many jobs are set to go at Google parent Alphabet.
That in the same week that Microsoft said it would shed 10,000 posts, and Amazon began cutting 18,000.
The tech giants are all scaling back amid concerns over global growth, and after years of rapid expansion.
Up to $10 billion were the liabilities at crypto lender Genesis as it filed for bankruptcy.
It’s the latest victim of a market rout that has claimed major exchange FTX and many more.
Though the news came as bitcoin showed signs of rallying, with gains of around 25% this year.
69% was the plunge in fourth-quarter profit at Goldman Sachs.
RBC Capital Markets MD Gerard Cassidy says the bank was hit by a slump in dealmaking:
"Goldman Sachs results were challenged due to the fact that the company's core businesses were affected by the downturn in the capital markets in 2022, particularly the investment banking business."
Rival Morgan Stanley did less badly, posting a 41% drop.
42% is the drop in spending on Twitter ads by the social network's top 30 advertisers in recent months.
That's according to estimates by researcher Pathmatics compiled for Reuters.
And that spells trouble for new owner Elon Musk, who soon faces big interest payments on the debt incurred to buy Twitter.
And 7.66 million is how many subscribers Netflix added in the fourth quarter.
That was better than expected, sending its battered shares higher.
The same day saw founder Reed Hastings hand the reins to long-time partner and co-CEO Ted Sarandos.
