Fitch Ratings said profits will grow slower at major Chinese tech companies Alibaba, Tencent and Baidu as they ramp up investments in technology, content and access to new markets. Alibaba’s operating earnings before interest and taxes will increase by low single-digits through the financial year ending March 2022, Fitch said, as it tries to expand its annual active consumers to more than 1...
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Instacart Cuts Staff, Curbs Hiring in Run-up to IPO
Instacart has been letting go of staff, slowing hiring and curbing other expenses as it heads toward a public listing, when the grocery-delivery company will try to convince public investors that it can maintain its growth—and make a profit—as the economy slows. The San Francisco startup over the last two months has fired some of its more than 3,000 workers after holding midyear...
Twitch’s Creators Chief Departs Amid Payout Cutbacks
Amazon Informs Employees It Miscalculated Raises
Google CEO Addresses Employee Questions about Cost-Cutting
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