New Year Layoffs 👋

New Year Layoffs

As the year continues and the economy remains strong, opposing headlines of mass layoffs have continued to run rampant across news outlets. On Tuesday, Sony entered the list of companies that have announced layoffs this year. After the company disclosed its falling figures for PlayStation sales, Sony cut the division’s headcount by 900 workers worth roughly 8% of its global workforce. Also announced yesterday was defense and aerospace company Northrop Grumman, warning of companywide layoffs that will affect its space sector division. These are only a couple examples of layoff announcements that have reached news outlets throughout January and February of this year.

Previously, mega-cap Google led tech after it promised job cuts as a broader restructuring effort for the firm. Earlier in the year, other companies such as DocuSign and Duolingo reported heavy layoffs, and media companies such as Disney and Paramount also recently entered the fray. A few weeks ago, nonfarm payrolls for January grew hotter-than-expected, contrary to the overwhelming reports of layoffs reaching investors’ minds. This week, Investors should track jobless claims to see whether the economy is telling a similar story as to what tech companies are reporting.

learn

Risk Disclosure:

Invstr is not a bank and banking services are provided by Vast Bank, N.A.

Brokerage and Banking services are currently only available to U.S. residents.

Invstr app and web services are provided by Invstr Ltd. Advisory services are provided by Invstr Financial LLC, an investment adviser registered with the Securities Exchange Commission (SEC) details of which can be obtained here. Securities brokerage and custody services are provided by Apex Clearing, a broker dealer registered with the SEC and a member of FINRA and SIPC. There is no bank guarantee on securities and securities may lose value.

Investing involves risk and can lead to losses. Past performance does not guarantee future results.

Invstr app and web services are provided by Invstr Ltd. Invstr+ advisory services are provided by Invstr Financial LLC, an investment adviser registered with the Securities Exchange Commission (SEC). Securities brokerage and custody services are provided by Apex Clearing, a broker dealer registered with the SEC and a member of FINRA and SIPC. There is no bank guarantee on securities and securities may lose value. Vast Bank N.A. a nationally chartered bank and member of the FDIC, provides the banking products, including the products and services related to digital asset accounts. As with any asset, the value of Digital assets can go up or down and there can be a substantial risk that you lose money buying or holding digital assets. You should carefully consider whether trading or holding Digital assets is suitable for you in light of your financial condition. Your digital account does not support wallet to wallet transferring of your digital assets (i.e. cryptocurrencies) outside the platform. Any Digital Assets in your digital asset account are not insured by any government entities, including but not limited to FDIC or SIPC. The Invstr Visa® Debit Card is issued by Vast Bank, N.A. pursuant to a license from Visa U.S.A Inc and may be used everywhere Visa debit cards are accepted. Invstr Ltd, Invstr Financial LLC and Invstr Securities Ltd are subsidiaries of Marketspringpad Holdings (collectively “Invstr”) and Invstr is solely responsible for the application services and website content.

Watchlists provided when users first access the service are not a recommendation to invest. Instead they are provided to help users better navigate the service. Users are free to edit and create their own watchlists. From time to time, Invstr will suggest instruments solely based on an individual’s interest and the interest levels of the Invstr community. The statistical and portfolio builder models generated by Invstr do not reflect actual investment results and are not guarantees of future results. Comments provided by Invstr leaders, influencers or members of the Invstr Community are not recommendations and should not be construed as such. Invstr does not endorse the content or the positions posted by them. Their investment approach, and that of the models provided by Invstr, may be different from yours and may not be appropriate for you.

 

ALL RIGHTS RESERVED © INVSTR LTD. 2024