After years of rapid growth amid bumper profits, the tech sector is now firmly in cost-cutting mode.
Alphabet
Google was the latest company to highlight this Thursday, confirming plans to merge the team working on its Waze mapping service with those on its Maps product. The restructuring will begin Friday, the Wall Street Journal reported, with no layoffs planned. Google acquired Waze for more than $1 billion in 2013, during the good times.
Source: https://www.barrons.com/articles/what-to-know-today-51670486220?siteid=yhoof2&yptr=yahoo