Singapore companies and workers face up to tough times for global tech

Investors across the board have turned cautious, pivoting from seeking ‘growth at all costs’ to ‘growth and, more importantly, profitability’. For employees in tech, these are uncertain and worrying times.

A 2021 photo of Ninja Van’s centre in Ang Mo Kio. PHOTO: ST FILE
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When Google and Alphabet chief executive Sundar Pichai took to the stage last month at the Code Conference, one of global tech's biggest events, he spoke about making the company 20 per cent more productive. One way to do so, he said, was understanding how to reduce the number of people making decisions in "areas to make progress".

Mr Pichai's comments come as big tech companies including Meta, Amazon, Microsoft and Apple prepare for a global economic slowdown with job cuts, hiring freezes and internal reorganisations. Falling stock valuations, rising interest rates and recessionary fears have forced companies into belt-tightening mode.

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