Apple Pause, Lyft Layoffs Herald New Phase of Tech Austerity
- Twitter also bracing for steep cuts under new owner Elon Musk
- Tech companies had previously slowed hiring earlier in year
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Tech companies are once again tapping the brakes on hiring as they contend with sluggish consumer spending, higher interest rates and the impact of a strong dollar overseas.
Amazon.com Inc. said Thursday that it would pause adding new corporate workers, citing an “uncertain” economy and its hiring boom in recent years. Lyft Inc., the ride-hailing company, is going further: It will eliminate 13% of staff, or around 683 people.