Shares of technology companies fell amid further signs of darkening horizons for the industry.
Amazon.com said it would lay off 18,000 people of its corporate-level employees, roughly 5% of the total, the largest job cuts in a wave of layoffs at major technology companies.
Shares of Amazon rivals such as Microsoft fell, as investors feared they were overstaffed.
In a sign of slowing activity for online shoppers, warehouse leasing slowed in the fourth quarter, according to a report from commercial real-estate services firm Cushman & Wakefield.
OpenAI, the research lab behind the viral ChatGPT chatbot, is in talks to sell existing shares in a tender offer that would value the company at around $29 billion, The Wall Street Journal reported.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
01-05-23 1713ET
