By Lionel LaurentOpinionIn April 2020, with around half the world locked down, video-streaming website Vimeo Inc. was dealing with “unprecedented” demand, funneling investment in customer support and technical infrastructure, and hosting virtual lunches for new hires. Three years on, revenue is in decline, its shares have slumped 93% since going public and it’s slashing jobs. It’s not alone.Consultants at McKinsey and KPMG are downsizing themselves; companies like FedEx Corp. and Boeing Co. are cutting middle management and “bureaucracy”; weak banks like Credit Suisse Group AG are being buried.Such is life in a normal economy, one might say. With everything … To read the full article log in.
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Half a Million Job Cuts Could Be Just the Start: Lionel Laurent – Bloomberg Law News
