Morgan Stanley: Broader Layoffs Would Be Bull Sign for Stocks
Major technology companies have announced about 100,000 jobs cut this year, according to Layoffs.fyi, as they contend with sluggish consumer spending, higher interest rates and global economic uncertainty. Here's a list.
Notable 2022 U.S. Tech Layoffs
Notable 2022 U.S. Tech Layoffs
Please note that layoff and workforce figures are best estimates based on reporting.
Facebook's parent company $Meta Platforms(META.US$ is planning to lay off thousands of employees as early as Wednesday. It announced plans for a headcount reduction for the first time in September.
Facebook's parent company $Meta Platforms(META.US$ is planning to lay off thousands of employees as early as Wednesday. It announced plans for a headcount reduction for the first time in September.
Other companies that have also reduced their workforce or announced plans to do so.
Morgan Stanley's Michael Wilson says companies will need to aggressively bring down expenses before he becomes more optimistic on US equities.
"When that layoff cycle picks up in earnest that will actually be one of the keys for us to get bullish because that means the bleeding will stop on the operating leverage," the top-rated strategist told Bloomberg TV on Monday.
Plenty of good tech stocks will be fine, he said, adding that there are many great opportunities in single stocks without giving specifics.
"The reality is there are too many of them and they got overvalued. So it's not that technology is dead in terms of the spending trend, we are very bullish on technology spending," he said.
Mooers, what do you think?
"The reality is there are too many of them and they got overvalued. So it's not that technology is dead in terms of the spending trend, we are very bullish on technology spending," he said.
Mooers, what do you think?
Source: Bloomberg
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SpyderCall : good news is bad news. until the bad news/economic data cannot escape a recession meltdown
moneyworkhard : reducing headcount ain't gonna bring profits up. Great products n good margins will, also w a sound long term moat.
搞经济 抄底 加仓 : is okay. as long they issue the unemployment is good on report