[letsdothisagain]

I mean, this is just MS copying everyone else. There is no "real" recession. It's basically a loosely coordinated capital strike to counteract post-pandemic wage growth. Jay will keep raising rates until those wages stop climbing, and companies are taking the hint.

If anything MS is smarter for waiting for all of their competitors to cut first. As others pointed out, they have tons of cash and really don't have to cut at all, so they get a leg up on their competitors by waiting.

[oblio]

The funky thing is... it's not a recession for them. All of their incomes are growing and their profits are reasonably steady, except for "I take full responsibility for the Metaverse" Meta.

They don't really need to do this, they want to.