By Subrat Patnaik and Ryan Vlastelica | Bloomberg Massive job cuts in Silicon Valley are bringing some relief to investors after a year-long stock selloff, as companies indicate they're focused on bolstering their profits heading into a key earnings reporting season.Big US tech companies including Alphabet Inc. and Salesforce Inc. experienced, on average, a 5.6% bump in their stock price this month in the session following an announcement of job cuts, according to data compiled by Bloomberg.
#development #combination #announcement #million-people #silicon-valley #tech-companies #federal-reserve #walt-disney
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