Usually Treasury can buy a significant amount of time by rearranging the deck chairs. She says she may run out of time in June, which is earlier than expected. I thought we were going to hit the ceiling in the summer and run out of time in the fall, but this means it’s going to be a more urgent fight.
Microsoft is laying off 10,000. Amazon is laying off 18,000.
Microsoft is also eating a $1.2B charge to consolidate its office space and create “higher workspace density.” I’m wondering if this is going to be the first big domino to fall for commercial office real estate as it appears MSFT is giving up on getting everyone to come back into offices? I don’t imagine laying off 4.5% of their employees corresponds to $1.2 billion in penalties to break leases in and of itself.
Amazon doesn’t have to do layoffs if they don’t want to. I spoke to an Amazon SWE who said their average SWE lasts 9 months. Which is a disaster for getting things done, but great if you want to reduce headcount – just slow down the hiring and you can hit any number.
Yeah I think Amazon wants to do layoffs and the market seems to think the layoffs are good for AMZN (up today), but I think that there is probably a pretty significant correlation with Amazon laying a lot of people off and a recession. Once you bake that in, it’s going to hit their online retail side pretty hard IMO and impact their earnings.
The reason I think there’s a correlation is more or less what you said - they don’t have to lay people off, they can hit their number easily without it. They’re not viewing a layoff as a PR hit at all because it’s just going to be in an avalanche of other layoff news over the coming months.
Great look fellas.
Inside Microsoft, some employees were frustrated that Mr. Nadella was participating in the World Economic Forum in Davos, Switzerland, thousands of miles away from Microsoft’s headquarters, as the layoffs were announced. The night before the announcement, Microsoft hosted an event in Davos at which around 50 people watched a performance by Sting, said people familiar with the event. The theme of the event was sustainability.
You really have to hand it to them, they’re putting the onion out of business, sustainability after they all flew halfway around the world in private jets. We Hear, For You! Shout out Wambsgans
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Google is laying off 12,000 people. This amounts to about 6.43% of their workforce, according to Wikipedia.
Davos just seems like the mega-rich version of Burning Man, I assume the actually cool billionaires hang out somewhere else.
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That seems like a lot
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Why we stonking today?
Maybe everyone conspired to lay folks off just to make the fed happy without any actual economic concerns
I don’t know whether to be 
or 
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TSLA one time.
How many companies are even bigger than Enron?
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Literally same reaction.
Tesla?!
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Enron market cap was $60 billion according to Google. There are 258 publicly traded companies with > $60B market cap right now according to this site: Companies ranked by Market Cap - page 3.
I doubt they’re adjusting for inflation, but if they were, you’d be looking for $102B+ companies and there would be 135 of them.
TSLA lost 2% from 4:45 to 6:35 EST, and they report earnings tomorrow. 
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Booooooooooooooooooooo
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