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Amazon announced it would cut 18,000 jobs

Amazon announced it would cut 18,000 jobs

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Amazon.com Inc. has decided to lay off a total of more than 18,000 employees – the largest layoff in the company’s history – underscoring the deep crisis facing the technology and online retail sectors. L’Executive Director Andy Jassy He announced the plan to lay off employees in a Jan. 4 memo. Originally, the cuts, which began last year, were intended to affect about 10,000 employees, mostly focused on Amazon’s retail division and HR functions like hiring.

The New York Times: Amazon broke a record 10,000 seats

“Amazon has struggled through difficult and uncertain economies in the past and we will continue to do so,” Jassy wrote. “These changes will help us pursue our long-term opportunities with a stronger cost structure; But I’m also optimistic that during this time when we’re not getting too carried away and letting go of some roles, we’ll be creative, imaginative and distracted.”

Dismissal letters make up 6% of the workforce

Those hardest hit by the mass layoffs at the Jeff Bezos-founded company are store workers like Amazon Fresh and Amazon Go, as well as Pxt organizations that run e.g. The termination letters would reach those affected from January 18, Jassy said, adding that those affected make up six percent of the company’s approximately 300,000 employees.

Although the At Amazon, the prospect of mass layoffs has been floating around for months – The company has admitted it hired too many employees during the pandemic. – Total headcount, which is higher than expected, suggests the company’s outlook has become more complex in recent months. Workforce interference is consistent with Amazon and other big tech companies looking to cut jobs. The American cloud computing company Salesforce Inc., headquartered in San Francisco and operating in 36 countries around the world, recently announced its intention to lay off and hire about 10% of its workforce, more than 7,000 out of a total of 79,000 employees reduce real estate ownership.

Positive reaction from shareholders

Amazon investors have reacted positively to a recent effort to tighten their belts, bet on boosting the e-commerce company’s profits. Shares are up about 2% in recent trading after the Wall Street Journal first reported on the plan.

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