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      Traders work on the floor of the New York Stock Exchange

      'Wall Street Loves Layoffs': Rich Investors Demand More Carnage as Tech Slashes Jobs

      One pro-worker coalition called Amazon's recent job cuts "sacrificial symbols for Wall Street."

      Jake Johnson
      Jan 24, 2023

      Amazon, Microsoft, Google, and other major tech companies have moved in recent days to lay off tens of thousands of employees, slashing jobs across the board amid mounting fears of a Fed-induced recession.

      But the sweeping job cuts—more than 18,000 at Amazon, 10,000 at Microsoft, and 12,000 at Google—were apparently not enough to satisfy ultra-rich investors, some of whom have taken large stakes in tech companies with the intention of forcing layoffs and other cost-cutting as a way of boosting profits.

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