• Microsoft on Wednesday said it would lay off 10,000 employees in the coming months as the economic downturn continues to punish US tech giants.
  • The cuts were “in response to macroeconomic conditions and changing customer priorities,” the maker of the Windows operating system said in a US regulatory filing.
  • The job cuts will affect slightly less than five percent of employees and follow in the wake of similar moves by Facebook-owner Meta, Amazon and Twitter which have announced thousands of layoffs in the once unassailable tech sector.

Source: rawstory.com

Holiday Sales Disappoint as Retail Sales Drop Sharply in December

  • Americans pulled back more than expected on spending at retail stores, restaurants, and online in December and November, data from the Commerce Department indicated on Wednesday.
  • Retail sales fell 1.1 percent in December, the Commerce Department said. Economists were expecting a decline of 0.8 percent.
  • Sales in November were also lower than initially reported. On Wednesday, the Commerce Department said these fell one percent, much more than the 0.6 percent reported earlier.
  •  Source: breitbart.com

US Retail Sales Tumbled In December 

Source: Bloomberg

10 of 13 retail categories fell last month, according to the report, including motor vehicles, furniture and electronics. The value of sales at gasoline stations slumped 4.6% as prices steadily dropped.


Source: zerohedge.com