Tech giants such as Amazon.com, Meta Platforms and Intel, which have long touted their ambitious growth plans, are now being judged by a different measure: how quickly they can make cuts.
Amazon vowed to rein in expenses after warning on Thursday (Friday AEDT) of its slowest holiday season ever, saying it would pause hiring in some businesses and wind down products and services. The company has recently been on a purge, shutting a delivery robot business, a virtual tour feature and a children-focused video-calling device.
