Facebook parent Meta Platforms, ride-share service provider Uber Technologies and tech and online retail giant Amazon.com have announced hiring slowdowns in recent weeks. It’s all about keeping down costs, according to one economist.
Peter Boockvar, chief investment officer at Bleakley Advisory Group, said for industries such as restaurants and grocery stores, the demand for labor still exceeds supply. But for tech companies, the rising cost of doing business leaves them with few choices on how to improve their profit margins,…
