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After a robust year of economic recovery when Americans spent big and there were more than enough jobs to go around, companies seem to be tightening their belts. To be sure, experts have told Insider that the next recession will be much milder and feel very different than the pandemic recession or the 2008 housing-bubble collapse and financial crisis.
Still, companies from Meta to Walmart have given signals in recent weeks that they are bracing for a downturn.
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Meta is in a hiring freeze.
Meta CEO, Mark Zuckerberg.Photo by Liu Jie/Xinhua via Getty
A wave of layoffs is sweeping through Netflix — and other companies are caught in one as well.
Brandon Bell/Getty Images
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Salesforce is slowing down its hiring and cancelling off-sites.
People wear protective face masks outside Salesforce Tower.Noam Galai/Getty Images
Wayfair is pausing hiring for 90 days.
Pavlo Gonchar/SOPA Images/LightRocket via Getty Images
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Amazon says it overstaffed its warehouses.
Amazon retail CEO Dave Clark announces the new delivery partner program in 2018.LINDSEY WASSON/Reuters
Walmart is also overstaffed.
Walmart said that its profits declined 24.8% from last year and announced that it would cut its profit guidance for the full year.AP
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Uber announces a hiring slowdown and cuts marketing costs.
Uber implied that it would be freezing, or at least slowing down, hiring after nearly $6 billion in losses this year.Reuters
Twitter announces a hiring freeze, and dismisses top leaders.