How are FAANG companies (and similar ones, like Microsoft) dealing with the covid recession? Is there talk of layoffs, hiring freezes, and/or pay cuts?
They'll act tough for the first month or two, donate money to those affected, work on projects to help socitey, but then revenue streams from ads and indebted consumers will dry up. This affects everyone and tech has been leading the market up. Sorry to say but tech will lead down as people prioritize spending on food and basic necessities. I feel like Blind all the TC talk is just the sign of a blow off top.
All FAANGs are non essential business and they will remain shut till the government decides not to. Death toll today in US rose to 100 (max in a single day). As per Treasury Secretary, they expect lockdowns to last till June (conservative figure). 1-2 weeks work from home is alright. But if you Take all these factors in considerations No company can sustain like this for long, Layoffs are eventually gonna happen. And if you believe they cant fall bcoz of their size. I have two words for you : Lehman Brothers
They are shut but aren't people WFH? The logic behind this comment is specious and doesn't have any nuance. Also, you don't work at FAANG. Looking for insight here, not pontification.
Lol comparing the value of Google search, gmail, android, maps, office, Windows, AWS, Amazon.com, etc. to Lehman bros
Hiring is pretty slow right now