Seth Paul – QuerySpring.com https://queryspring.com Fri, 28 Oct 2022 23:54:55 +0000 en-US hourly 1 https://wordpress.org/?v=6.5.4 https://queryspring.com/wp-content/uploads/2022/10/cropped-qsicon-32x32.png Seth Paul – QuerySpring.com https://queryspring.com 32 32 Stellantis Offering Buyouts To Some U.S. Salaried Employees https://queryspring.com/stellantis-offering-buyouts-to-some-u-s-salaried-employees/ Fri, 28 Oct 2022 23:54:55 +0000 https://queryspring.com/?p=3241 Stellantis, the parent company of Jeep and Chrysler, is offering buyouts to some of its 13,000 U.S. salaried employees. The automaker is attempting to cut jobs and realign its workforce for electric vehicles and software services.
If you’re 55 or older, and have been with the company for 10 years or more, you’re eligible for the buyout offer. Or, if you’ve been with the company for 30 years or more, you’re also eligible for the offer. We’re letting all employees know about the offer today, and you have until December 5th to decide whether or not you want to take it.
How many domestic salaried employees are eligible for the program? Does the automaker have a target for how many workers it would like to take the packages?
“We’re excited to be transforming into a sustainable tech mobility company and becoming the market leader in low-emission vehicles. In October, we offered certain salaried U.S. employees the option to voluntarily separate from the company with a favorable package of benefits. This is just one of the many ways we’re working to make our company even better.”
The automaker is offering buyouts to eligible employees who are looking to retire. This is similar to the buyouts that were offered a year ago for the same reasons.
Detroit’s Stellantis automaker is seeking to cut employee headcounts this year, as the company spends billions of dollars on electric vehicles and emerging software services.
Jim Farley, the CEO, said in August that the automaker would be cutting a total of 3,000 salaried and contract jobs, mostly in North America, as part of restructuring efforts to lower costs.
General Motors, the country’s largest automaker, has not made any major cuts to its workforce in recent years and has no plans to do so in 2022, according to Chief Financial Officer Paul Jacobson.
Jacobson told reporters that GM’s decision to slow down hiring and only replace key departures or critical needs was made early in the year in order to maintain a healthy headcount growth rate.
]]> Big Tech Disappoints Investors On Weak Q4 Earnings https://queryspring.com/big-tech-disappoints-investors-on-weak-q4-earnings/ Fri, 28 Oct 2022 23:41:01 +0000 https://queryspring.com/?p=3236 Other than Apple, it was a tough earnings week for Big Tech. Alphabet, Amazon, Meta and Microsoft combined lost over $350 billion in market cap after offering less-than-encouraging commentary for the third quarter and the rest of the year.

The tech giants are finding themselves in an unfamiliar position after unbridled growth in the past decade, with slowing revenue growth or declines in Meta’s case, and efforts to control costs.
Apple’s strong third-quarter results this week came as a bright spot amidst concerns of inflation, rising interest rates, and a potential recession. The company beat expectations for both revenue and profit, and its stock had its best day in over two years on Friday.
Meta, on the other hand, has not been doing so well. In 2022, the stock price collapsed and Facebook’s parent company came up short on earnings. Additionally, the average revenue per user was recorded at the lowest it has been in two years. Lastly, sales for the fourth quarter are expected to decline for a third consecutive period.
“There are a lot of things going on right now in the business and in the world, so it can be difficult to find a single solution to all the issues,” Meta CEO Mark Zuckerberg said on the company’s earnings call on Wednesday.
Meta’s stock had a rough week, plunging 24% over the past five days. Microsoft also fell 2.6% for the week, due to a 7.7% decline on Wednesday after the company gave weak guidance for the year-end period and missed estimates for cloud revenue.
Although things were looking bleak for Amazon, which dropped 13%, there is still hope. A fourth-quarter forecast along with a dramatic slowdown in its cloud-computing unit were the main causes of the sell-off, but with a little optimism, things could start to look up again.
Although Amazon’s growth has stalled a bit, Google’s cloud group is still expanding rapidly. Google plans to continue investing in its cloud services, even though it will be slowing down its overall headcount growth in the next few quarters.
As investors look for new opportunities outside of tech, they’re finding potential in other areas of the market that haven’t been doing as well as software and internet companies. The Dow Jones Industrial Average rose 3% this week, marking the fourth consecutive week of gains for the index. 
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