The Daily Money: Not such a happy Fri-YAY for 12,000 Googlers and more

It's Medora wishing you a happy Fri-YAY! I don't know about you, but I feel like I barely made it! 

It's been a short but very busy week. Unfortunately, more layoffs are taking over the headlines again this morning. Alphabet, parent company of search giant Google, said it's cutting 12,000 jobs, or roughly 6% of its workforce. That follows Microsoft's 10,000 and Amazon's 18,000 announced earlier. Wayfair also said it's axing 10% of its workforce, or about 1,750 people.

Despite the onslaught of layoffs, the market seems to be taking it well. Alphabet shares rose, and all three major stock indices are marginally higher this morning because Netflix reported more subscribers than analysts had expected even though it missed earnings projections. Go figure.

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About The Daily Money

Each weekday, The Daily Money delivers the best consumer news from Paste BN. We break down financial news and provide the TLDR version: how decisions by the Federal Reserve, government and companies impact you.