A tough day for Wall Street

Payam Javan: Wall Street is experiencing layoffs on Wednesday, with BlackRock laying off up to 500 employees and Goldman Sachs beginning to lay off more than 3,000. The reductions come after a disastrous year for the markets, during which the Russian invasion of Ukraine, inflation, and rate hikes plunged the markets into freefall.

Even though they affect thousands of employees, the headcount reductions at BlackRock and Goldman Sachs amount to less than 3% and 6.5%, respectively, of the overall workforce.

The layoffs on Wall Street come after workforce reductions in the IT sector, including those at Amazon, Salesforce, Stitch Fix, Vimeo and a number of companies in 2023.

  The new governor of the northwestern Iranian province of East Azerbaijan has received a sharp slap in the face by a participant in a ceremony where he was officially introduced as the new provincial governor

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