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Google, Facebook CEOs warn slackers, what it means
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The chief executives of Alphabet and Meta Platforms, the parent companies of Google and Facebook and major heavy hitters in the tech world, are warning under-performing employees to step it up, drawing concern for potential layoffs amid the continued economic downtown.
The U.S. economy shrank from April through June for a second straight quarter, raising fears about an economic recession. Consecutive quarters of falling gross domestic product (GDP) constitute one traditional measure, though not definitive, of a recession.
"Any time there is a recession or warning of a recession, companies start looking inward and saying, how can we get ahead of this?" Julie Bauke, founder and chief career strategist with The Bauke Group, told FOX Business.
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Bauke is one of many industry experts who told FOX Business that these warnings are indicators of a softening job market — including layoffs.
Following a disappointing fiscal quarter, Meta CEO Mark Zuckerberg and Alphabet CEO Sundar Pichai both told staffers they have productivity concerns and are "turning up the heat" on managing staff performance.