Bloomberg Surveillance · Wednesday, July 1, 2026
Angelo Zeno discusses the trend of job cuts in big tech, such as Microsoft, Oracle, Meta, and Block, as a way to offset significant capital expenditures. He believes that while cloud providers have largely exhausted 'low-hanging fruit' for operational cost reductions, the broader enterprise space is in the 'early innings' of realizing significant cost efficiencies over the next few years.
“I was looking this morning at the job cut announcements among big tech after the reporting on Microsoft cutting some additional staff, Oracle twenty one thousand job cuts, Meta more than eight thousand job cuts, Block more than four thousand job cuts, all of this in part to help offset the expense for all of the capex.”
“And that's where you would think some of the you know, some of the help in terms of paying for the stuff is going to come from. It's going to come from a combination of you know, higher revenue from these cloud companies, you know, just overall, you know, improvement and being able to monetize this stuff, as well as through cost efficiencies.”