Amazon plans to sack 10,000 employees in corporate, technical roles: Report
According to the New York Times, in the latest layoff season, Amazon plans to lay off 10,000 employees in corporate and technical roles as soon as this week, citing people with knowledge of the situation.
By ET Spotlight Special |
Agencies
According to the New York Times article, Amazon plans to lay off 10,000 employees, representing around 3% of the company's corporate personnel. The layoffs would be concentrated in the e-commerce giant’s devices segment, which contains voice-assistant Alexa and the retail sector. This is the largest layoff in the company’s history. The final number of layoffs is unknown.
Layoff decision comes during record slow growth.
Amazon had more than 1.6 million full-time and part-time employees as of December 31 last year and had just announced a hiring block for corporate personnel for the next several months. A few weeks ago, Amazon warned of the lowest slow growth this year during the pivotal holiday season, when it produces the most sales, mentioning rising pricing as the reason. The shocking layoff decision came amid this news.
The Alexa segment had an operating loss of more than $5 billion last year. Amazon is contemplating focusing on creating new capabilities when consumers only use the device for a few functions.
Amazon is the latest U.S. corporation to make significant cuts to its workforce in preparation for a future economic collapse. Amazon shares, which have lost over 40% of their value this year as part of a larger tech selloff, momentarily trimmed losses and were last trading down 2%.
Layoff decision comes during record slow growth.
Amazon had more than 1.6 million full-time and part-time employees as of December 31 last year and had just announced a hiring block for corporate personnel for the next several months. A few weeks ago, Amazon warned of the lowest slow growth this year during the pivotal holiday season, when it produces the most sales, mentioning rising pricing as the reason. The shocking layoff decision came amid this news.
The Alexa segment had an operating loss of more than $5 billion last year. Amazon is contemplating focusing on creating new capabilities when consumers only use the device for a few functions.
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Amazon is the latest U.S. corporation to make significant cuts to its workforce in preparation for a future economic collapse. Amazon shares, which have lost over 40% of their value this year as part of a larger tech selloff, momentarily trimmed losses and were last trading down 2%.
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FAQs:
- What companies are also laying off their employees?
Meta, Facebook's parent company, Twitter Inc, Microsoft Corp, and Snap Inc. - Will amazon hire new employees?
Recently, Amazon announced a hiring moratorium for corporate employees for the next three months.
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