Big Tech Is Still 20% Bloated Even After Layoffs, BofA Says
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Some of the largest US technology companies are still bloated even after the recent wave of layoffs aimed at cutting costs.
That’s the conclusion of strategists at Bank of America after looking at the surge in staffing levels over the past three years at companies like Microsoft Corp. and Amazon.com Inc. compared with revenue. The data suggest that some of the companies are still 20% too big on average, even after the job cuts, according to strategists including Savita Subramanian.