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Robinhood Cuts 23% of Staff, Joining Netflix and Amazon in Tech Slowdown – Bloomberg

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Next Big Risk asks three titans of the financial industry what they see coming in the next 5 to 10 years. Bloomberg’s Sonali Basak speaks with Founder and CEO of FTX Sam Bankman-Fried, former Goldman Sachs Chief Investment Strategist Abby Joseph Cohen, founder of Moelis and Company Ken Moelis about their biggest concerns, ranging from the next pandemic to deglobalization.
Insight and analysis of top stories from our award winning magazine “Bloomberg Businessweek”.
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After years of bulking up, the industry is bracing for recession.
Apple plans to slow its hiring next year, according to people familiar with the matter.

With recession fears mounting—and inflation, the war in Ukraine and the lingering pandemic taking a toll—many tech companies are rethinking staffing needs. That’s included freezing hiring, rescinding offers and even laying off workers.
Robinhood Markets Inc. was one of the latest to make cuts, moving to eliminate nearly a quarter of its workforce. Oracle Corp. also has been paring its staff this week.

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