U.S. Layoffs Spread to Apple and Accounting Firms

It is reported on February 17th that following the massive layoffs at Amazon and Meta, Apple canceled its contracts before the designated expiry date because of soaring costs.

 Apple has recently canceled contracts with hundreds of contractors, which caught these contractors off guard. Apple CEO Tim Cook has previously said that layoffs are a last resort and the company’s move is to reduce costs as much as possible.

 It has also been reported that KPMG, one of the major four accounting firms, has decided to lay off 700 employees in the U.S., a 2% reduction of its workforce due to the global economic weakness and a decline in the consulting business. In addition, after Microsoft laid off 11,000 employees, LinkedIn has now also confirmed the news of layoffs, and the actual number of layoffs has not yet been determined. At the same time, Microsoft’s virtual reality division HoloLens and online gaming platform Xbox are also laying off staff and downsizing.

 Previously Miles Guo said the wave of layoffs would spread to all U.S. tech giants and eventually to all sectors in the United States due to inflation and stagflation. The pandemic caused by the CCP-virus(COVID-19), the deliberate supply chain disruption and the greed of Western capitals worshipped modern slavery of the authoritarian Chinese regime are the root causes.