How are big tech companies coping with an economic slowdown?
International Business News – According to the “Echo” reported on July 30, under the difficult macroeconomic environment and the unfavorable factors such as a strong dollar, inflation, supply chain disruption, and declining advertising revenue, large technology companies have taken a series of countermeasures.
One is to cut costs. Amazon and Uber have laid off large-scale employees, and Facebook, Google, and Apple have also slowed down the pace of hiring and reduced spending growth.
The second is to invest in the future. Big tech companies remain committed to investing more in future technologies to maintain a competitive edge. For example, Google emphasizes that it will continue to increase investment in artificial intelligence, cloud computing and other fields, while Meta has invested heavily in new algorithms, short videos, and the metaverse.
The third is to find new income points. Netflix and Amazon have both raised subscription prices, while Twitter has experimented with e-commerce to expand its revenue streams.