While the pessimism in the global economic outlook forced international companies to take steps to reduce their costs, many companies in the USA and Europe accelerated the layoffs.
While the high inflation that came with the rapid economic recovery after the Covid-19 epidemic, the rising interest rates and the escalating energy crisis with the Russia-Ukraine war slowed down the global economy, many companies in the USA and Europe announced that they were reducing the number of their employees or taking a break from new purchases.
Faced with global economic uncertainties, companies have to take steps to reduce their costs and put the brakes on job purchases.
Rising inflation and deteriorating macroeconomic outlook around the world are forcing all companies in the technology industry to adapt to the new climate.
At a time when interest rates are rising after years of large investments in technology companies, the risk appetite of big funds is decreasing due to the negative economic outlook. Combined with the effects of the Russia-Ukraine war, supply chain disruptions and high inflation, companies are making difficult decisions.
Companies that have gone into austerity due to recession concerns are trying to stabilize their profits, which have been declining with layoffs.
The successive news of “dismissals and interruptions to new purchases” from international companies, especially big technology companies, creates concern in the global economy.
The number of layoffs in the technology sector in the USA exceeded 52 thousand
Many companies operating in the field of technology, especially in the USA, have decided to reduce the number of employees or stop their recruitment.
According to data from Crunchbase, as of the end of October this year, more than 52,000 employees in the technology sector in the United States were laid off.
Experts state that many technology companies recruited more during the epidemic and are now having a hard time.
Finally, layoff plans of Twitter, Lyft and Meta are on the agenda
While the list of companies going out of business in the country is increasing day by day, it is noteworthy that companies such as Twitter, Lyft and Meta have plans to reduce the number of employees.
After Elon Musk’s $44 billion purchase, layoffs began on the social media company Twitter. It has been reported that 50 percent of Twitter employees have been laid off.
Mobile ride-hailing app Lyft has also announced that it will lay off 13 percent of its employees. “There are several challenges emerging in the economy. We are facing a possible recession in the next year, and car-sharing insurance costs are rising,” Lyft co-founders Logan Green and John Zimmer wrote in a letter to employees. it was said.
Meta, the owner of Facebook, Instagram and WhatsApp, is reportedly planning to go through massive layoffs. In the news in the US press, it was stated that Meta’s layoffs will be the first large-scale layoffs in the company’s 18-year history and will affect thousands of employees.
While Intel, one of the world’s largest microchip manufacturers, is reportedly planning to reduce the number of employees by 20 percent, it was noted that Microsoft laid off nearly 1,000 employees.
Stripe, the online payment platform, has decided to lay off about 14 percent of its employees. Stripe Chief Executive Patrick Collison, in a letter to company employees on the subject, stated that layoffs were necessary due to rising inflation, recession fears, higher interest rates, energy shocks and tighter investment budgets.
Online real estate company Opendoor has announced that it will lay off 18 percent of its employees at a time when rising interest rates are taking a toll on the US housing market.
In the US, companies such as Netflix, Robinhood, Snap, Coinbase, Shopify, Peloton and Calm have also announced that they will reduce their staff numbers. Netflix has laid off 450 employees, while Peloton has announced that more than 800 will be laid off. In addition, Robinhood stated that it will reduce the number of employees by 23 percent, Snapchat by 20 percent, Coinbase by 18 percent, Shopify by 10 percent, Cameo by 25 percent and Calm by 20 percent.
Elon Musk, the CEO of the US electric vehicle manufacturer Tesla, sent an email to the company’s top executives in June with the title “Stop all hiring worldwide”. In the email, Musk stated that he had a “super bad feeling” about the economy and that the number of employees should be reduced by 10 percent.
Amazon and Apple’s decision to stop hiring
US e-commerce giant Amazon, on the other hand, announced that it has suspended recruitment for positions in the corporate workforce due to the economic outlook. The company cited the uncertainty in the economy and the number of people employed in the last few years for the decision.
Beth Galetti, Senior Vice President of Human Experience and Technology at Amazon, in a letter to company employees, said that the application in question will continue for the next few months. He stated that he will continue to follow the developments in the economy and business world.
Apple has also reportedly decided to cease hiring in all areas other than research and development.
Layoffs on the rise in Europe
With the impact of the highest inflation rates in the last 30 years and the Russia-Ukraine war, layoffs increased in Europe as well.
France’s flag carrier Air France, which has lost thousands of jobs through voluntary layoffs in the last 2 years, is negotiating with the unions to dismiss approximately 300 ground personnel.
Swedish engineering group Alfa Laval has announced a restructuring program that will lay off around 500 of its employees after rising costs negatively impacted its maritime business.
Husqvarna, the Swedish manufacturer of garden equipment and tools, has also announced that it will go through restructuring and lay off 1,000 jobs.
Sweden-based payments company Klarna announced that it will lay off about 10 percent of its 7,000 employees due to high inflation and the negative effects of the war in Ukraine on trade.
German chemical company BASF announced its plan to cut annual costs by 500 million euros in Europe by 2024, including layoffs, while German consumer products company Henkel laid off 2,000 jobs to combat rising costs and low demand.
Wind turbine manufacturer Siemens Gamesa announced that it plans to cut 2,900 jobs, mostly in Europe, as part of its plan to return to profitability.
German automotive and industry supplier Schaeffler announced that 1,300 more people will be laid off by 2026 during the restructuring process.
Italy’s third-largest bank, Monte dei Paschi di Siena, agreed with the union in August on the early retirement of 3,500 employees in line with commitments to cut costs.
Dutch medical equipment manufacturer Philips has announced plans to lay off nearly 4,000 jobs after falling sales.
Automaker Stellantis has announced that it is laying off an unspecified number of employees at its Michigan plant indefinitely to mitigate the impact from various supply chain issues.
Finnair said it will cut around 200 jobs globally and downsize its fleet in an effort to restore profitability with the closure of Russian airspace.
Headquartered in Finland, Valmet Oyj announced that it is in negotiations for temporary layoffs of up to 3 months with 340 employees at its valve factory in Helsinki, due to the reduction in orders due to the war in Ukraine and the Kovid-19 restrictions in China.
Protests grow after police kill 17-year-old in France: At least 150 people were detained
The demonstrations that started on Tuesday after a 17-year-old teenager was killed in Paris, the capital of France, after he did not comply with the stop warning of the traffic police, continued yesterday.
Clashes broke out between the police and the demonstrators in Paris, at least 150 people were detained. The demonstrations spread to other cities as well.
The most intense clashes took place in Nanterre, a suburb to the west of Paris, where the teenager, identified as Nahel M, was killed.
Demonstrators threw Molotov cocktails at the police in Nanterre and burned down an electrical installation. The newspaper Le Monde reported that the police had to partially withdraw from Nanterre.
In the videos circulating on social media, it is seen that vehicles are burned and shops are looted.
Molotov cocktails were thrown at many police stations in Paris.
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Luxembourgers will soon be able to legally keep and smoke weed
Luxembourgers of age will soon be allowed to keep a maximum of four cannabis plants at home for their own use. They may also smoke the ‘harvest’ thereof. Weed is prohibited in public.
It took the Luxembourg parliament five years to reach this agreement. It is a watered-down version of a plan to fully legalize marijuana.
The partial legalization is part of a package of measures. With this, the Luxembourg government wants to reduce drug crime in the country.
Among other things, the government wants to develop state-controlled supply chains and control cannabis sales.
Justice Secretary Sam Tanson said the drug policy of the past fifty years was a “failure”. Although weed was banned, it was widely used.
Public use and possession remain prohibited
The use and possession of marijuana in public remains prohibited. However, the fine will be reduced to 25 to 500 euros for possession of less than 3 grams. Anyone who carries more weed on the street risks six months in prison or a fine of 2,500 euros.
The government hopes that the new rules will prevent drug trafficking and protect Luxembourgers from contaminated weed. According to opponents, the illegal trade will continue and will not limit consumption.
UBS to lay off thousands of Credit Suisse employees
Switzerland’s largest bank, UBS, is preparing to fire thousands of employees of the bank it bought after completing its state-aided takeover of rival Credit Suisse.
Swiss banking giant UBS is preparing for layoffs after taking over Credit Suisse. The giant bank will dismiss more than half of the employees at Credit Suisse, which has 45,000 personnel, next month.
The segments that will be most affected by the wave of layoffs will be bankers, processors and support personnel. Employees of Credit Suisse branches in London, New York and some Asian regions will be the ones most affected by this wave.
THERE WILL BE 3 SEPARATE WAVE OF WORK
There will be three separate waves of layoffs this year, according to sources who asked for anonymity as the plans have not yet been made public. It is stated that the first wave is expected to take place by the end of July, while the other two tours are planned in September and October.
Three months after UBS bought Credit Suisse in a government-brokered bailout, the full extent of the layoffs began to become clear.
When the deal was completed, UBS’ total headcount rose to nearly 120,000, and the company said it aims to save about $6 billion in personnel costs in the coming years.
IT WILL FIND 35 THOUSAND PEOPLE
It is thought that UBS plans to eventually cut its total headcount by around 35,000 people. UBS spokespersons are refusing to comment on the layoffs for now.
After the Wall Street investment banks, including Morgan Stanley and Goldman Sachs, announced that they would lay off thousands of their staff, UBS also started to lay off their staff, showing that things are getting worse for the global financial sector.
After the banking crisis that started in the USA in March, there was a Credit Suisse panic in Europe. The developments after the Saudi National Bank, the biggest partner of Credit Suisse bank, announced that it would not increase its capital, dragged the bank to the brink of bankruptcy.
Switzerland’s largest bank, UBS, bought 167-year-old Credit Suisse for 3 billion francs, with the government’s liquidity support of 200 billion francs.
While the total number of employees of UBS and Credit Suisse reached 120,000 worldwide, UBS announced that it would make layoffs to reduce costs.
Streets in flames in France
After the death of a 17-year-old teenager by police fire in France, many vehicles were set on fire, and many people were detained in the incidents.
In the city of Nanterre, France, 13 people were detained in the events that started with the death of the 17-year-old driver yesterday as a result of the fire opened by the police.
Those who reacted to the incident took to the streets in different cities such as Nanterre, Suresnes and Mantes-la-Jolie and set garbage bins and vehicles on fire. While the firefighters were responding to the fires, a brawl broke out between the youth and the police in different neighborhoods of the city.
A fire broke out in the town hall and a school, and a total of 13 people were detained.
REACTION FROM POLITICIANS
Police opened fire on a vehicle in Nanterre, which had 3 people and did not comply with the “stop” warning, and the 17-year-old driver died. While one child in the vehicle was taken into custody, the other child fled the scene and an investigation was launched into the incident.
While the French politicians were reacting to the incident, in the images reflected on social media, it is seen that the police who opened fire were not in front of the vehicle, but at the level of the front left seat.
In the footage, it is evaluated that the vehicle hit the pole after the police fired the gun pointed at the driver.
2 people died in Spain due to hot weather
The first extreme heatwave of summer in Spain killed two people.
A 47-year-old farmer in Seville on 24 June and a 46-year-old farmer in Ciudad Real on 26 June died from extreme heat while working in the field, according to information from the civil aid organization and local governments.
Stating that the heat especially affects the farmers and construction workers working in the open field, the authorities demanded that measures such as drinking plenty of water, using a hat and not staying in the open area during the peak hours of the sun.
ALARM IS GIVEN
Due to the first extreme heat wave of summer, which started last weekend and is expected to leave the country from tomorrow, 8 of 17 autonomous administrations in Spain were given a 1st or 2nd degree alarm.
According to the meteorological forecasts, the air temperatures in the Andalusia region in the south of the country will decrease to 30-38 degrees from tomorrow.
On the other hand, the Public Health Agency in Spain announced that a total of 10 extreme heat waves were seen in the summer of 2022 and the hottest summer of the last 30 years was detected. In the data, it was shared that 10 people died from extreme heat in 2022 and that heat had an indirect effect on 337 deaths.
Coup attempt in Russia
Coup attempt in Russia: Wagner, the mercenary group condoned by Putin, rebelled against the Russian army!
The Federal Security Agency asked the Wagner fighters to arrest their leader, Prigojin.
Yevgeni Prigojin, the founder and leader of the Russian mercenary group Wagner, claimed that he ordered the leaders of the Russian army to strike the group’s camps and killed a large number of Wagner warriors.
Wagner’s leader, who has been making statements against the Russian Ministry of Defense for months, made an unorthodox statement against the leaders of the Russian army, saying he would “stop” them and asked Russian citizens to remain calm.
“Putin is aware of developments”
Kremlin Spokesperson Dmitri Peskov said that Russian President Vladimir Putin is “aware of the developments” and emphasized that “all necessary measures will be taken”.
According to Russia’s public broadcaster RIA Novosti, the Federal Security Agency has launched a criminal investigation for starting an armed uprising. Agency asks Wagner fighters to arrest their leader Prigojin
“The evil brought by the army of this country must be stopped”
“We were ready to make concessions to the Ministry of Defense, we were going to lay down our weapons. Today we see that the promises made have been broken. They launched missile attacks on our camps,” Prigojin said in the audio recording released by his spokespersons.
Prigojin said, “Wagner’s council of commanders has made a decision. The evil brought by the army of this country must be stopped” and called on the Russians “not to resist them”. “We’re 25,000 people, and we’re going to take a look at why there is total lawlessness in this country,” said the Wagner leader.
“Prigojin’s statements do not match reality”
“We are not carrying out a coup,” said Prigojin. “We are marching for justice. Our moves do not endanger ordinary Russian soldiers.”
“Prigojin’s statements do not match reality,” said the Russian Defense Ministry.
According to Vyorsyka’s report, Wagner members called their relatives on Friday and said goodbye to them before Prigojin’s statements.
“Coup Attempt in Russia”
T24 writer Hakan Aksay evaluated the developments with his social media account. Describing the tension as a “coup attempt in Russia”, Aksay announced that an investigation was launched. Aksay included the following statements in his message:
“The coup attempt in Russia. Prigojin, the owner of the mercenary Wagner units, which Putin allowed to develop and gain strength with dubious methods, announced that he took action with 25 thousand armed youth not only against the Minister of Defense Shoigu, but also “against the turmoil in the country.”
Kremlin spokesman Peskov said that President Putin is aware of everything and that necessary measures will be taken. The Russian intelligence agency FSB launched an investigation into Prigojin’s statement on the allegation of “coup attempt.”
Netflix opens its own restaurant
Streaming service Netflix is now opening a restaurant, too.
Netflix is opening a restaurant. The chefs in the cooking shows will cook.
Netflix is also stepping into the food industry after digital broadcasting and mobile gaming.
The company announced two days ago, Netflix Bites, to open its restaurant in Los Angeles, USA. At the restaurant, the Chef’s Table on the platform, Nailed It! and Iron Chef: Quest for an Iron Legend (Iron Chef: Quest for an Iron Legend), will present their dishes to customers.
Chefs include Curtis Stone, Dominique Crenn, Ming Tsai, Andrew Zimmern, Rodney Scott, Ann Kim and Jacques Tortres. Mixologists such as Frankie Solarik and Julie Reiner on the Cocktails are Our Business (Drink Masters) program will also showcase their drinks at the restaurant.
This temporary restaurant, which will open on June 30, will host its guests for two weeks.
Netflix’s statement said it would provide “fans and gourmets with a restaurant experience like no other.” Josh Simon, Vice President of Consumer Products at Netflix, said:
“With Netflix Bites, we’re creating a face-to-face experience where fans can immerse themselves in their favorite cooking shows. We’re excited to collaborate with these exceptional chefs who will bring that vision to life and showcase their delicious menus.”
Reservations for the restaurant can be made online.
There will be a fee to enter the New York city center by car
There will be a fee to enter the New York city center by car. In order to reduce traffic congestion in New York City, USA, it was decided to charge a vehicle entry fee to the Lower Manhattan area.
It is on the agenda to collect money from those who enter the busy Manhattan area of New York with their vehicles.
According to the news reported by CNN, the administration of US President Joe Biden has approved the program that will charge vehicles entering the Lower Manhattan area of New York City.
If the app goes live, it will work like any road toll. However, it will be a first in the United States, as there will be a special charge for driving in the high-traffic area below 60th Street in Manhattan.
WHO WANTS TO ENTER THE REGION WILL PAY 9-23 DOLLARS
According to the proposals, charges will be made from $ 9 to $ 23 during peak hours. The application will go into effect next spring.
Although the plan was discussed for years, it was delayed each time. But last month, the Federal Highway Administration took the first step by approving the publication of the environmental assessment on the subject. “This program is critical to the long-term success of New York City,” New York Governor Kathy Hochul said last month.
ONE OF THE WORLD’S WORST TRAFFIC
Every day, 700,000 cars, taxis and trucks flock to Lower Manhattan, one of the busiest areas in the world. Lower Manhattan is known as one of the most congested traffic areas in the United States.
Since the traffic is very crowded, cars can only travel at a speed of 12.1 km per hour here. Bus speeds have dropped 28 percent since 2010, while New Yorkers lose an average of 117 hours each year in traffic.
It is planned to reduce the number of vehicles entering the congested area by at least 10 percent, if a toll is charged. It is thought that the application will increase public transportation.
Similar systems are currently being implemented in 7 cities in Europe. This system has already been implemented in London and Durham (England), Stockholm and Gothenburg (Sweden), Milan (Italy), Znaym (Czech) and Valletta (Malta).
On the other hand, there are also criticisms of the system. Commuters from New York City’s outer boroughs and New Jersey say the program will hurt drivers who have no viable means of getting to Manhattan other than by car, and it will disproportionately affect low-income drivers.
In addition, opponents of the application are of the opinion that traffic in Manhattan could be diverted to low-income areas of the city such as the Bronx.
Berlusconi, former prime minister of Italy, passed away
Famous businessman Silvio Berlusconi, who was the prime minister of Italy for many years, passed away.
Silvio Berlusconi, one of the former prime ministers of Italy, who has been struggling with health problems for a while and entered politics after building one of the country’s largest media empires, has passed away.
It has been announced that the billionaire businessman who steered Italian politics and led four governments from 1994 to 2011 died in San Raffaele Hospital in Milan.
Berlusconi, who allegedly had sexual intercourse with young women in a villa in 2010 and made orgies known as “bunga bunga”, had a very difficult time. It was claimed that Berlusconi had an affair with Moroccan Karima al-Mahroug.
Berlusconi, who continued his political life despite the corruption and sex scandals about him, was 86 years old.
HE WAS INVOLVED IN THE COALITION GOVERNMENT
Berlusconi, who was diagnosed with cancer, was hospitalized in April due to a lung infection and was treated in the hospital for a long time.
Berlusconi, who is the head of the centre-right party Forza Italia, of which he is the founder, found himself in the coalition government of Prime Minister Giorgia Meloni in the elections held in September. Berlusconi was also in the Italian Senate.
Berlusconi, the owner of the Italian football club AC Milan, had a hard time with sex scandals, also known as “Bunga bunga”, in the early 2010s.
Explosion sound heard in the USA!
F-16 warplanes caused panic in Washington, the capital of the USA. The sound of a huge explosion heard in Washington caused panic.
In the social media posts, it was stated that around 15:30 local time, a big noise similar to the sound of a sonic explosion was heard. While it was recorded that shaking was felt in the houses due to the explosion, some social media users commented that the explosion may be related to a possible military exercise.
It was recorded that the police asked the Federal Aviation Administration (FAA) about the incident after citizens called the emergency lines, and the US Department of Homeland Security tweeted, “We are aware of the explosion sound heard in the capital, there is no threat at the moment.” expression was used.
Later, on the social media account of the Annapolis Emergency Management Office, it was shared that the explosion was caused by an “authorized flight under the Ministry of Defense” and that the military plane exceeding the sound limit caused the sonic boom.
In a written statement from the Federal Aviation Administration, it was reported that the Cessna-type plane, which took off from Tennessee to Long Island, entered the no-fly zone over the capital, then crashed into a mountainous terrain in the southwest region of Virginia.
A few hours after the plane crashed, the local police announced that the rescue team had reached the wreckage of the plane. In the statement, which stated that there were no survivors in the accident, according to the first determinations, it was noted that the investigations at the accident site were continuing.
In the US press, there was information that the plane in question did not respond to the radio warnings, and thereupon, the F-16s took off with the emergency response authority at supersonic speed, which caused the explosion of sound.
It was also stated that during the incident, military jets used flares that could be seen by the public in order to attract the attention of the pilot, and that the flares did not pose a danger to the people on the ground due to their rapid and completely extinguishing feature.
No information was shared about why the plane did not answer the calls, how many people were in it, and why it crashed.
White House officials announced that US President Joe Biden, who was playing golf at the Maryland military base, was informed during the incident.
It was noted that the FAA is continuing its investigation into the incident and will relay the details later.