{"id":24335,"date":"2023-01-09T11:28:46","date_gmt":"2023-01-09T11:28:46","guid":{"rendered":"https:\/\/fxglobe.wpenginepowered.com\/big-tech-layoffs\/"},"modified":"2023-07-12T20:10:26","modified_gmt":"2023-07-12T20:10:26","slug":"big-tech-layoffs","status":"publish","type":"post","link":"https:\/\/www.fxglobe.com\/th\/big-tech-layoffs\/","title":{"rendered":"Big Tech Layoffs: Navigating the Market Amid Workforce Reductions"},"content":{"rendered":"\n<p>Good morning Traders!<\/p>\n\n\n\n<p>Last week we heard of further layoffs in some big tech companies, igniting further<br>investor\u2019s fears of a recession.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Amazon<\/h2>\n\n\n\n<figure class=\"wp-block-gallery has-nested-images columns-default is-cropped wp-block-gallery-1 is-layout-flex wp-block-gallery-is-layout-flex\">\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" data-id=\"7498\" src=\"https:\/\/www.fxglobe.com\/wp-content\/uploads\/2023\/05\/Amazon-M-scaled.jpg\" alt=\"\" class=\"wp-image-7498\"\/><\/figure>\n\n\n\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" data-id=\"7500\" src=\"https:\/\/www.fxglobe.com\/wp-content\/uploads\/2023\/05\/Amazon-W-scaled.jpg\" alt=\"\" class=\"wp-image-7500\"\/><\/figure>\n<\/figure>\n\n\n\n<p>Amazon has announce it will layoff 18,000 employees, a far bigger number then first<br>planned and the most it ever has.<\/p>\n\n\n\n<p>The <a href=\"https:\/\/www.fxglobe.com\/gbpjpy-reversal\/\" data-type=\"post\" data-id=\"29833\">Monthly chart<\/a> is in a strong downtrend, and after another move to a Lower Low, the<br>market has touched it\u2019s support level around the round number of 80, which is also March<br>2020 lows. The overall trend on the Weekly chart is also a downtrend and currently the<br>Daily chart is showing consolidation above this <a href=\"https:\/\/www.engadget.com\/big-tech-layoffs-2023-152856197.html\">level<\/a>. I\u2019ll be watching for potential moves<br>in reaction to this level.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Salesforce<\/h2>\n\n\n\n<figure class=\"wp-block-gallery has-nested-images columns-default is-cropped wp-block-gallery-2 is-layout-flex wp-block-gallery-is-layout-flex\">\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" data-id=\"7508\" src=\"https:\/\/www.fxglobe.com\/wp-content\/uploads\/2023\/05\/Salesforce-M-scaled.jpg\" alt=\"\" class=\"wp-image-7508\"\/><\/figure>\n\n\n\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" data-id=\"7510\" src=\"https:\/\/www.fxglobe.com\/wp-content\/uploads\/2023\/05\/Salesforce-W-scaled.jpg\" alt=\"\" class=\"wp-image-7510\"\/><\/figure>\n<\/figure>\n\n\n\n<p>Salesforce announced that it too will join the layoff round to the tune of about 8000<br>employees, stating that they have previously hired too many people.<\/p>\n\n\n\n<p>Here too, the Monthly chart is showing a strong downtrend, and so is the weekly chart.<br>But unlike Amazon, the market is currently trading above it\u2019s March 2020 lows (which is<br>around the 115 area). The <a href=\"https:\/\/www.fxglobe.com\/the-incredible-impact-of-small-daily-profits-achieving-100-annual-returns\/\" data-type=\"post\" data-id=\"31464\">Daily chart<\/a> had a deeper pullback, printing a Higher High, thus<br>breaking the downtrend on this timeframe. I\u2019ll be looking for signs that the pullback may<br>be over and that the market is ready to continue in it\u2019s overall direction.<\/p>\n\n\n\n<p>Happy Trading!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Good morning Traders! Last week we heard of further lay [&hellip;]<\/p>\n","protected":false},"author":15,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_seopress_robots_primary_cat":"none","_seopress_titles_title":"Big Tech Layoffs | %%sitetitle%%","_seopress_titles_desc":"Stay informed about the recent layoffs in the big tech industry and their impact on the market. A must-read for traders.","_seopress_robots_index":"","footnotes":"","_links_to":"","_links_to_target":""},"categories":[1],"tags":[],"class_list":["post-24335","post","type-post","status-publish","format-standard","hentry","category-market-updates"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.fxglobe.com\/th\/wp-json\/wp\/v2\/posts\/24335","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.fxglobe.com\/th\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.fxglobe.com\/th\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.fxglobe.com\/th\/wp-json\/wp\/v2\/users\/15"}],"replies":[{"embeddable":true,"href":"https:\/\/www.fxglobe.com\/th\/wp-json\/wp\/v2\/comments?post=24335"}],"version-history":[{"count":0,"href":"https:\/\/www.fxglobe.com\/th\/wp-json\/wp\/v2\/posts\/24335\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.fxglobe.com\/th\/wp-json\/wp\/v2\/media?parent=24335"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.fxglobe.com\/th\/wp-json\/wp\/v2\/categories?post=24335"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.fxglobe.com\/th\/wp-json\/wp\/v2\/tags?post=24335"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}