Major Companies Announce, Layoffs and Hiring Freezes, as Fears of Recession Loom.<br />Yahoo reports that the United States has <br />been impacted by a wave of corporate layoffs <br />meant to cut costs amid broad market selloffs. .<br />Big firms like Uber, Microsoft, <br />Twitter, Wayfair, Snap and <br />Meta have all seen layoffs. .<br />Big firms like Uber, Microsoft, <br />Twitter, Wayfair, Snap and <br />Meta have all seen layoffs. .<br />Other major companies to recently let go of employees include Tesla, PayPal, Uber and Netflix.<br />Other major companies to recently let go of employees include Tesla, PayPal, Uber and Netflix.<br />Tesla CEO Elon Musk announced <br />his concerns about a potential <br />recession in a company wide email. .<br />The same email decreed that 10% of Tesla's staff needed to be laid off and hiring for the company would be put on hold worldwide.<br />In May, Netflix fired about 150 U.S.-based <br />employees after the company's <br />revenue growth slowed down.<br />In May, Netflix fired about 150 U.S.-based <br />employees after the company's <br />revenue growth slowed down.<br />Also in May, Carvana fired 2,500 employees, <br />or about 12% of its entire staff, after announcing <br />its $2.2 billion acquisition of Adesa. .<br />Also in May, Carvana fired 2,500 employees, <br />or about 12% of its entire staff, after announcing <br />its $2.2 billion acquisition of Adesa. .<br />In April, Robinhood Markets announced <br />a layoff of 9% of its full-time employees. .<br />As a result, stock in Robinhood <br />fell about 52.5% as of June 8.<br />Facebook parent company Meta <br />announced a company wide hiring freeze <br />with stock down 42% year-to-date.<br />According to Meta, the company is focusing <br />on its core business and Reality Labs after making <br />a $10 billion investment in developing the metaverse. .<br />According to Meta, the company is focusing <br />on its core business and Reality Labs after making <br />a $10 billion investment in developing the metaverse.
